HSA Acquires 344,400-SF Warehouse for $9M

MEMPHIS-HSA Commercial Real Estate has acquired a 344,400-sf industrial warehouse at 5321 Shelby Drive in a sale-leaseback with Crews Inc. The company, which is a manufacturer and distributor of safety gear, eyewear, helmets, goggles and gloves, fully occupies the space and has signed a long-term lease at the facility, according to Eric Ogden, senior vice president of acquisitions for Chicago-based HSA. Crews was represented in the sale by Hank Martin with locally based NAI Saig Co. According to the Shelby County Assessor, the class B property sold for $9 million.

“We continue to appreciate Memphis because it’s an important and central US distribution location,” Ogden tells GlobeSt.com. “This particular property also offered us a great location right across from the $100 million Burlington Northern Santa Fe Intermodal.” The building is also flanked by 10 acres of extra land that was included in the purchase, which is unusual in Memphis, he says.