HSA ENTERS MEMPHIS, TENN. MARKET WITH PURCHASE OF DISTRIBUTION WAREHOUSE FACILITY
April 3, 2006
Robert E. Smietana, vice chairman and CEO, HSA Commercial Real Estate, has announced that the firm has acquired a 131,510-square foot single-tenant warehouse facility at 5100 Hickory Hill, Memphis, Tenn. This is HSA’s third acquisition in the state of Tennessee.
The property is located in the prestigious Chickasaw Distribution Center, a business park developed by IDI comprised of Class A buildings. The building has 11,658-square feet of office space on two floors and 119,852-square feet of warehouse space. The state-of-the-art facility is situated on 9.64 acres and additional land will allow for building expansion up to 63,000-square feet.
The property is 100% leased to Priority Solutions International which provides supply chain solutions to the pharmaceutical, airline and general transportation industries.
The acquisition team was led by Eric Ogden, vice president, HSA Commercial Real Estate.
Celebrating 25 years of excellence in commercial real estate, Chicago-based HSA Commercial Real Estate is a diversified national real estate firm specializing in office, industrial, retail and health care real estate leasing, management, marketing, development and financing on a national basis. The firm and its principals have developed and acquired more than 30 million square feet of commercial real estate across the United States with total consideration in excess of $1.5 billion, its brokerage divisions have completed more than 7,000 transactions in 43 states representing both owners and tenants, while the asset management division currently manages a property portfolio in excess of 15 million square feet in 11 states.
