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VOL. 128 | NO. 223 | Thursday, November 14, 2013

Olymbec Acquires Bellbrook Industrial Park

By Amos Maki

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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.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 105 291 7,063
MORTGAGES 98 358 9,638
FORECLOSURE NOTICES 18 61 2,051
BUILDING PERMITS 227 690 16,428
BANKRUPTCIES 60 260 6,319
BUSINESS LICENSES 20 88 2,686
UTILITY CONNECTIONS 123 380 8,848
MARRIAGE LICENSES 22 135 2,132

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