Blue Vista Capital Management has acquired Shelby Oaks Industrial Park, a 480,911-square-foot portfolio of light industrial and flex properties in the Northeast industrial submarket of Memphis, Tennessee.
In partnership with Westmount Realty Capital, LLC, Blue Vista acquired a majority interest in the property on behalf of its 2018-vintage value-add middle market real estate fund, Blue Vista Real Estate Partners V.
Shelby Oaks Industrial Park is a 50-acre property consisting of 16 buildings situated directly off the I-240/I-40 interchange and within driving distance of downtown Memphis and the Memphis International Airport.
The property offers a diverse mix of distribution, warehouse and flex assets carrying varying levels of office and showroom space and ranging in size from 12,000 to 90,000 square feet. The property features 76 dock high doors, 90 grade level doors, and clear heights ranging from 14 to 22 feet. At the time of purchase, the property was more than 95% leased to a diverse set of 78 tenants across the technology, telecommunications, manufacturing, service and food/beverages sectors.
