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Joint Venture Pays $86 Million for Memphis-Area Industrial Portfolio

Faropoint Sells 28 Facilities Across Memphis and Olive Branch Totaling 2.3 Million Square Feet
The 108,200-square-foot facility at 4985 Outland Center Drive was one of the 23 industrial buildings included in the portfolio. (CoStar)
The 108,200-square-foot facility at 4985 Outland Center Drive was one of the 23 industrial buildings included in the portfolio. (CoStar)
By Jessica Stevenson
CoStar Research
December 21, 2020 | 5:19 P.M.

A joint venture between affiliates of Plymouth Industrial REIT and Madison International Realty has purchased a massive portfolio of infill industrial buildings in the Memphis, Tennessee, metropolitan area for $86 million.

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