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Article: Weingarten Realty Investors buys Memphis, Tenn., distribution facilities.
- Article from:
- The Commercial Appeal (Memphis, TN)
- Article date:
- January 5, 2006
CopyrightCOPYRIGHT 2006 The Commercial Appeal. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Amos Maki
Jan. 5--A Houston-based real estate investment trust is expanding its footprint in Memphis with the purchase of two distribution facilities.
Weingarten Realty Investors purchased Southpoint I and Southpoint II distribution centers on Shelby Drive from Anderson-Tully Lumber Co. for $15.3 million.
With the addition of the two buildings, which total about 600,000 square feet, Weingarten owns about 1.6 million square feet of industrial space in the Memphis area.
"I just thought they were good assets in a good submarket in Memphis," said James Bretting, senior asset manager for Memphis operations for Weingarten. "We have ...