Reporter: Meagan Nichols
An Atlanta-based commercial real estate development and investment company plans to enter the Memphis market via a new, Class A distribution and industrial space in North Mississippi.
Ridgeline Property Group (RPG) announced it will build up to 3.5 million square feet of space on a 328-acre site in Marshall County. The facility will be called I-269 Logistics Center due to its location at Goodman Road and the southeast corner of the I-269 beltway.
The land is owned by Mississippi Land Holdings LLC, which, according to a press release is a “special vehicle owned by the CK Pearl Family of funds managed by Crestline-Kirchner LP.” The development will be a joint venture between RPG and the property owner. Crestline-Kirchner is headquartered in Fort Worth.
“Memphis, one of the strongest industrial markets in the U.S., is experiencing extremely strong demand for Class A industrial space, but bulk space is currently in very short supply,” said Greg Thurman, CEO of Ridgeline Property Group. “I-269 Logistics Center will answer this need, providing e-commerce and other operators the modern, efficient distribution space they require.”
Read the full article at: http://www.bizjournals.com/memphis/news/2016/07/25/atlanta-firm-to-build-3-5-million-square-foot.html