Dallas, TX – Hillwood Investment Properties, a Perot company, in a joint venture with Brookfield Asset Management, has acquired a 1.6 million square foot portfolio consisting of five Class A industrial buildings located within Southpark Distribution Center in Memphis, TN.
“The high-quality industrial portfolio at Southpark features buildings ranging from 111,250 to 474,000 square feet and suite sizes ranging from 10,000 to 474,000 square feet, which will accommodate a diverse mix of national, regional and local tenants,” said Tom Fishman, executive vice president of acquisitions at Hillwood.
Southpark Distribution Center was developed from 1992 to 1995 by Industrial Developments International (IDI) and represents a master planned industrial business park. It offers excellent access and front door exposure to the Burlington Northern Santa Fe (BNSF) Intermodal Facility located immediately due east of the site. Bordered by the busiest industrial thoroughfare in the Memphis Metropolitan Statistical Area, US 78 and Shelby Drive, the park benefits from multiple points of access. Southpark is fully built out with approximately 3.4 million square feet of institutionally owned industrial product and provides a highly attractive environment and ideal distribution location.
“We are pleased to acquire these facilities at Southpark Distribution Center and expand our presence in the Memphis market,” said Toby Rogers, senior vice president at Hillwood Investment Properties. “Memphis is one of the nation’s greatest transportation hubs, and we are excited about this acquisition as well as the other 1.2 million square feet we have acquired in the Southeast industrial market this year.”
Hillwood, a Perot company, is ranked as one of the top commercial real estate investors and developers in the country and the top residential developer in Dallas-Fort Worth. Hillwood’s developments currently house facilities for 60 companies listed on the Fortune 500, Global 500 or Forbes List of Top Private firms. Hillwood is best known for its Alliance brand that includes the 17,000-acre AllianceTexas, 4,474-acre AllianceFlorida at Cecil Commerce Center, and 2,000-acre AllianceCalifornia. For additional information, please visit www.hillwoodinvestmentproperties.com.
About Brookfield Asset Management
Brookfield Asset Management is a global alternative asset manager focused on property, renewable power, infrastructure and private equity, with approximately US$150 billion of assets under management, which includes approximately US$80 billion of property assets under management in North and South America, Europe and Australia. In addition, the company provides clients with an extensive array of real estate advisory, property and investment services. Brookfield is publicly listed on the NYSE, TSX and Euronext Amsterdam under the symbol BAM, BAM.A and BAMA, respectively. For additional information on the company, please visit http://www.brookfield.com.