MEMPHIS, TENNESSEE – April 14, 2021 – CBRE Global Investors announces that Ubiquiti, a New York-based company that develops high-performance networking technology for service providers, enterprises, and consumers, has signed a 161,000-square-foot lease at Memphis Global Crossing. A fund sponsored by CBRE Global Investors acquired the 421,470-square-foot Class A logistics property, located at 6200 Global Drive, in December 2020.
“With the support of our leasing team at CBRE, we were able to lease the available space at Memphis Global Crossing shortly after acquiring the asset,” said Robert Perry, President of the Americas Real Estate Division and Head of Strategic Partners U.S. for CBRE Global Investors. “Memphis is a key distribution hub in the United States. For its first warehouse and logistics operation in this area, Ubiquiti chose Memphis Global Crossing due to its central location within the Southeast submarket and its accessibility to a multi-modal transportation network.”
Memphis Global Crossing is located off Route 78, a major east/west thoroughfare in Memphis connecting the property to the FedEx World Hub at the Memphis International Airport (8 miles away); the intermodal yard of BNSF Railway, the largest intermodal railroad in the U.S. (3 miles away); and the area’s labor markets. The property sits on nearly 24 acres and was delivered in 2019. Features of the facility include 32’ clear height; 46’8” x 50’ column spacing with 60’ speed bays; 125 dock doors with two drive-in doors; 119 trailer parking spaces and 204 car parking spaces with three points of egress; and an ESFR fire protection system.
Patrick Walton from CBRE represented CBRE Global Investors in the transaction, while the tenant was represented by Jacque Beeson and Ham Southworth, also from CBRE.
About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $122.7 billion in assets under management* as of December 31, 2020. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2020 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees serving clients in more than 100 countries. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers.