Jones Lang LaSalle Incorporated : Distribution facility near Memphis sells

ATLANTA, July 26, 2021 - JLL Capital Markets announced today that it has closed the sale of DeSoto A2, a 328,355-square-foot, Class A, newly constructed bulk distribution facility triple net leased to Toshiba in the suburban Memphis community of Horn Lake, Mississippi.

JLL Capital Markets worked on behalf of the seller, Preylock Holdings. Bixby Land Company purchased the asset.

Part of the DeSoto 55 Logistics Center, DeSoto A2 was completed in 2020 to core, Class A state-of-the-art construction specifications. The single-tenant building features a 36-foot clear height, ESFR fire protection, TPO roof, ample auto and trailer parking and an abundance of dock-high doors with view windows.

DeSoto A2 is located at 1453 Commerce Pkwy. in Horn Lake, a suburb less than 20 miles south of downtown Memphis, and within the Desoto industrial submarket, which is one of the most active submarkets in the entire Memphis metro area. This infill location just off Interstate 55 is near Memphis International Airport. Additionally, the property has unparalleled regional access along with proximity to multiple intermodal facilities, including Canadian National Harrison Yard, BNSF Railway and Norfolk Southern.

The JLL Capital Markets team representing the seller was led by Dennis Mitchell, Matt Wirth, Britton Burdette, Jim Freeman and Mitchell Townsend, along with Jack Wohrman with JLL Agency Leasing.

'This offering provided the buyer with a best-of-class industrial property in one of Memphis's premier industrial submarkets,' Dennis Mitchell said. 'Well-located, core, industrial offerings in Southeastern markets such as this continue to be in high demand, and we expect to see this trend continue for the foreseeable future.'

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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