Memphis, Tennessee – December 21, 2020 – A fund sponsored by CBRE Global Investors has acquired a 421,470-square-foot Class A logistics property in Memphis, Tennessee. The facility is located at 6200 Global Drive in Memphis’ Southeast submarket and is majority leased by DHL.
The property, known as Memphis Global Crossing, 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.
“Memphis is a key distribution hub, serving more major markets overnight than any other city in the U.S.,” said James Munsell of CBRE Global Investors. “Memphis Global Crossing is strategically located in the Southeast submarket, which affords users sought-after access to a multi-modal transportation network that includes a leading world cargo hub, five separate rail systems, three interstates, seven federal highways and the International Port of Memphis, which is the fifth largest inland port in the country. We believe that the location is ideal for both domestic and international users looking to expand their logistics footprint.”
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); the BNSF Railway intermodal yard, the largest intermodal railroad in the U.S. (3 miles); and the area’s labor markets.
About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $114.5 billion in assets under management* as of September 30, 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 2019 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. 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.