TNC Logistics Portfolio - Memphis Industrial | 733,600 SF

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Property Description

The TNC Logistics Portfolio is a 10-property, 1.7+ million square-foot industrial portfolio located in the high growth Piedmont Triad distribution market and the well-established transportation hub of Memphis, TN.

The portfolio is predominantly comprised of single-tenant bulk distribution industrial properties and is over 92% leased. The 10-building portfolio – eight in the Greensboro MSA and two in the Memphis MSA – range from 55,000 to 372,000 square-feet in size and boast several high-profile credit tenants including Ford Motor Company, Carrier Global, Ferguson Enterprises, and Lab Corp.

The Greensboro segment of the transaction totals 1,035,976 square-feet across 8 buildings. The Greensboro market, commonly referred to as the Piedmont Triad, continues to benefit from the expansion of the Piedmont Triad Airport (GSO), the manufacturing and distribution base in Greensboro/Winston Salem, and the continued growth in the Raleigh-Durham area. Additionally, the I-85/I-40 Interstate spine provides access direct access to many of the Southeast’s most prominent MSAs.

The Memphis segment of the transaction totals over 700,000 square-feet in 2 buildings. Memphis is home to the busiest air cargo airport in North America as well as The International Hub for FedEx, which is undergoing a $1.5bn modernization program. Additionally, Memphis uniquely benefits from five Class I railroads, and five interstate highways. Memphis is currently the 5^th largest distribution market in the country and continues to attract institutional investment.