Memphis Business Journal reports Hillwood Investment Properties has acquired the 600,000-square-foot warehouse at 4221 Pilot Drive for $7.5 million.
Hillwood Investment Properties made the acquisition operating as Pilot Distribution Center Inc.
The acquisition follows the company’s purchase of a 605,427-square-foot warehouse in Olive Branch for $13.5 million in February, which is located at 9105 Hacks Cross Road, from Mazda North America Inc.
Hillwood has developed 4.1 million square feet of industrial space in the Memphis market, all in the DeSoto County submarket. The company has enough land to build another 7 million square feet of industrial space.
The company purchased the Pilot building from Addison, Texas-based MM Industrial Memphis LLC.
Pilot Distribution Center has six 100,000-square-foot compartments and 6,700-square-feet of office space.