VOL. 128 | NO. 223 | Thursday, November 14, 2013
Olymbec Acquires Bellbrook Industrial Park
By Amos Maki
Olymbec USA LLC has snatched up two more key Memphis properties, including the 1.8 million-square-foot Bellbrook industrial park.
Olymbec bought the 13-building campus situated on more than 100 acres from TC Bellbrook Retail LLC for around $23.3 million.
Olymbec said in a brief statement on its website that the purchase will “complement our neighboring Space Center Industrial portfolio, where we can now offer industrial space to any size user in this submarket.”
In addition to the Bellbrook acquisition, Olymbec also bought the Caterpillar Logistic Services building at 5000 E. Raines Road for $8.6 million.
Olymbec USA, an entity of Montreal-based Olymbec Corporate Group, has been on a Memphis buying spree.
In October, the company acquired the 219,557-square-foot Brinkley Plaza at 80 Monroe Ave. from a partnership made up of entities related to local commercial real estate groups CB Richard Ellis Memphis and Loeb Properties Inc.
And in July, Olymbec purchased a 157,000-square-foot, Class C industrial warehouse at 3615 Lamar Ave. from Miami-based loan servicer LNR Partners LLC for $1.5 million.
Also, the company acquired 40,000 square feet of land and three small shed buildings totaling 12,000 square feet at 373 W. Brooks Road through a January auction from the estate of George E. Smith for $50,600.
In February 2011, Olymbec bought the 1.1 million-square-foot Space Center portfolio at 3051-3133 Tranquility Drive from Trammell Crow Co. for $7.3 million.
The family-run, private real estate investment firm entered the Memphis market in 2004 with its purchase of a 500,000-square-foot distribution center at 8800 Rostin Road in Southaven.