Provident Industrial, a division of Dallas-based real estate development and investment company Provident, announced the acquisition of a 13-building industrial portfolio totaling 2,526,937 square feet across the Memphis metropolitan area.
The portfolio will be held as a long-term investment, consistent with Provident’s disciplined approach to identifying and maintaining assets in high-demand, supply-constrained markets. Memphis is recognized as one of the country’s most established distribution and logistics corridors, anchored by its position as a global intermodal hub and home to one of the world's busiest cargo airports.
“Memphis occupies a truly unique position in the global supply chain. Its role as a world-renowned logistics hub, combined with the strength of its intermodal infrastructure, creates the kind of sustained, long-term demand from high-quality tenants, like the ones in our new portfolio,” said Case Van Lare, managing director at Provident Indu
