The second acquired property is 8921 Airways Boulevard located in Southaven, Mississippi, totaling 158,000 square feet of Class-A industrial space. Built in 2020, 1453 Commerce Parkway in Horn Lake, Mississippi, is a 328,000 square foot industrial building identified as DeSoto 55 (Building 2A). Targeted for its e-commerce occupier potential, Bixby Land Company acquired two Memphis market properties in off-market transactions. The two-building 403,000 square foot industrial property built in 2020 is the fourth Bixby acquisition in the South Atlanta market. currently our geographic expansion into diverse Sunbelt and Southeast markets represents approximately 30% of our portfolio," said Ela.īixby Land Company's largest 2021 acquisition was the off-market purchase of 185 & 195 Innovation Way, located in Newnan, Georgia. "Three years ago, we did not own assets outside the Western U.S. "Our investment in these high-quality industrial properties demonstrates our strategic focus on portfolio growth in the Southeast," said Matt Ela, Vice President of Operations at Bixby Land Company, based in their Dallas office. This $128 million investment confirms Bixby's continued commitment to expansion within Tier I and Tier II emerging markets throughout the Southeast. Proceeds from the disposition activity resulted in the acquisition of four Class A industrial properties totaling approximately 1.2 million square feet. Bixby Land Company, an Orange County, California-based commercial real estate owner, operator, and investor, has recently recapitalized a 5-property portfolio and sold one additional building in transactions totaling $125 million.
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