Memphis Daily News: Olymbec Buys Another Memphis Industrial Property
Olymbec USA, an entity of Montreal-based Olymbec Corporate Group, bought the 336,000-square-foot, Class B industrial facility in a May 27 special warranty deed from Memphis Air Trans LP, an affiliate of Chicago-based HSA Commercial Real Estate.
Built in 1977, the warehouse sits on 12.8 acres at the southwest corner of Air Trans Road and Pidgeon Roost Road. The Shelby County Assessor of Property’s 2013 appraisal was $5.3 million.
Memphis Air Trans bought the property in 2008 for $8.4 million at a time when HSA was acquiring local industrial facilities at a steady clip.
Now it’s Olymbec USA that has been on a Memphis buying spree in recent years. Its most recent acquisitions include last fall’s purchase of the 1.8 million-square-foot Bellbrook industrial park for around $23.3 million and the Caterpillar Logistic Services building at 5000 E. Raines Road for $8.6 million.
Source: The Daily News Online & Chandler Reports
– Daily News staff