John Safi Of Safco Capital Acquires Two Industrial Properties In Memphis And Horn Lake For $70.5M

An industrial asset transaction has occurred involving two properties located at 4575 Pleasant Hill Road in Memphis, TN, and 6280 Interstate Boulevard in Horn Lake, MS, encompassing a total of 57 acres. The combined sale price for these properties reached $70,500,000, with a total square footage of 902,000, equating to a price per square foot of $78.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $70,500,000
• Buyer: John Safi - Safco Capital
• Seller: Linda Booker - Core5 Industrial Partners; Jeffrey E. Witherell - Plymouth Industrial REIT
• Broker: George Fallon - CBRE

The transaction marks Safco Capital's entry into the Mid-South market, with the acquisition of a 320,000-square-foot warehouse for $16.5 million and a 582,000-square-foot warehouse for $54 million. George Fallon of CBRE represented both the buyer and the sellers in these transactions.