U.S. Foodservice Inc., the Rosemont Ill.- based foodservice distribution giant, has closed on its purchase of the 385,000-square-foot industrial building from a Belz Realty Company-led partnership for $10 million, or about $26 per square foot.
The building delivered in 1997 and is located in the Holmes Road Industrial Park in the Southeast Memphis industrial district.
U.S. Foodservice, the second largest foodservice distribution company in the United States, had occupied 175,000 square feet of the property. When the other tenant in the property moved out, they took the opportunity to purchase and occupy the entire building.
Stan Myers and Morris Thomas of Belz Realty Company acted as the selling brokers, while James Mercer of CB Richard Ellis represented U.S. Foodservice.
Please see CoStar COMPS #2067551 for more information on this transaction.
CoStar Group originally presented this pending sale in Watch List. See U.S. Foodservice Going from Renter to Owner in Memphis for previous coverage.