VOL. 127 | NO. 121 | Thursday, June 21, 2012
Dunavant Development Buys Bartlett Logistics Portfolio
By Andy Meek
Dunavant Development Co. has announced it’s reached a deal to buy Bartlett Logistics, a 515,000-square-foot multi-tenant flex portfolio consisting of Bartlett Logistics Park, at 8370-8500 Wolf Lake Blvd., and Stage Hills Industrial Park, 3080-3150 Stage Post Road.
Dunavant bought the property from CMLT 2008-LS1 Wolf Lake Drive, LLC (LNR Partners).
The two parks include 15 concrete buildings spanning about 39 acres. The properties all are located within one mile of each other and within two minutes of Interstate 40. Bartlett Logistics Park consists of seven buildings offering about 276,000 square feet. The property is north of U.S. 64 and provides warehouse space with dock-high and drive-in doors, as well as office capabilities.
Stage Hills Industrial Park consists of eight buildings with about 238,000 square feet. The property is also north of Highway 64, about two miles from the Appling Road exit off I-40.
Sean Aldridge, senior project manager at Dunavant Development Co., said that as the company focuses on its interests now in global logistics and transportation, investments and real estate development, it felt this was an ideal location near I-40, Highway 64 and Germantown Parkway.
Andy Cates, executive vice president of brokerage services for Colliers International, acted as agent for Dunavant. Andrew Phillips of Colliers represented the seller.
Brad Kornegay will oversee property management.