MEMPHIS-A Memphis-area warehouse property has been bought by a New York-based real estate investment trust. Memphis Daily News reported that American Realty Capital Trust III Inc. has bought the distribution center spanning 1.1 million square feet in Olive Branch, Mississippi, for $52.4 million.
The REIT acquired the property from a private investor. The warehouse facility is 100% leased to Williams-Sonoma Inc. It was originally developed as a build-to-suit in 2010 for the kitchenware manufacturer. For the full story, go to Memphis Business Journal .
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