Dunavant Enterprises, Inc. has purchased the Bartlett Logistics Portfolio from LNR Property Corporation in an REO sale for $19.75 million, or about $38 per square foot.
The portfolio of 15 properties totaled 516,279 square feet and is located at Stage Hills Blvd. and Stage Post Dr. and the 8000-block of Wolf Lake Dr. in Bartlett, TN - all in the Northeast Industrial submarket of Shelby County. The portfolio was 68 percent occupied at the time of sale.
Andrew Phillips with Colliers International represented the seller. Andy Cates, also with Colliers, represented the buyer. Dunavant has enlisted Colliers to exclusively manage the portfolio going forward.
Please see CoStar COMPS #2496051 for additional information on this transaction.