Memphis industrial park sold

Memphis industrial park sold

Posted: Monday, February 7, 2011 6:01 pm

MEMPHIS (AP) — A Canadian real estate investment group has bought a distressed Memphis industrial park for $7.3 million.
According to The Memphis Daily News, Montreal-based Olymbec purchased the 1.1 million-square-foot Space Center from a Trammell Crow Co. partnership.
The Space Center has eight buildings. One current tenant is International Paper Co.
The paper said with the Space Center acquisition, Olymbec is close to 1.6 million square feet of properties in Memphis. An Olympec spokesman said the company plans to set up a satellite office in Memphis after it makes more acquisitions.

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