Memphis is among five U.S. industrial markets where Class A industrial properties totaling 2.6 million square feet have been acquired by Hillwood Investment Properties, a Perot company.
Hillwood made the deal in a partnership with Brookfield Asset Management and the Hillwood-Brookfield Industrial Partners fund.
The Memphis-area purchase was the 556,000-square-foot Airways Distribution Center, Building 2, in Southaven. The other purchases were in Chicago, Indianapolis, Atlanta, and Orlando.
The transactions increased the portfolio’s size to 9.7 million square feet located in eight industrial markets.