MDH Partners Acquires 1.4 MSF Industrial Portfolio

Great Valley Commerce Center Building 1. Image courtesy of MDH Partners

MDH Partners, of Atlanta, has acquired a 1.4 million-square-foot industrial portfolio consisting of two fully leased, newly completed Class A buildings, in the Atlanta and Memphis, Tenn., metro areas.

Senior Managing Director/Acquisitions Joe DeHaven served as the acquisition lead for MDH Partners. Dennis Mitchell of JLL represented the seller, Core5 Industrial Partners.

Great Valley Commerce Center Building 1 is a 973,218-square-foot industrial facility in the Atlanta suburb of White, Ga. Great Valley Commerce Center is situated on 68 acres at 200 Logistics Parkway Northeast, in the I-75 North submarket of Atlanta and close to I-75 and U.S. 411.

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Completed in 2022, Building 1 features 500 parking spaces, 220 trailer spaces, 190-foot deep truck courts, ESFR sprinklers and 40-foot clear heights. It’s fully leased to materials handling and logistics company Vanderlande, the market’s largest OEM supplier of logistics process automation for airports. The tenant plans to consolidate several of its Atlanta-area facilities at this property.

Great Valley Commerce Center Building 1. Image courtesy of MDH Partners

Desoto Logistics Center is a 445,138-square-foot industrial building southeast of Memphis, in Olive Branch, Miss. The 32.3-acre site is at 8150 Nail Road E. Desoto Logistics Center too was delivered in 2022.

The property features cross-dock functionality with 274 parking spaces, 61 trailer spaces, 185-foot truck courts, ESFR sprinklers and 36-foot clear heights. The location is less than one mile from Highway 78, less than 10 miles from I-269 and I-55, and close to Memphis International Airport and the FedEx World Hub.

Desoto Logistics Center is fully leased to Barrett Distribution Centers, a third-party logistics and direct-to-consumer fulfillment service provider.

Acquisition mode

Atlanta’s industrial market saw 3.2 million square feet of absorption in the first quarter, which ended at an overall vacancy of 4.5 percent, according to JLL research cited by MDH.

The Memphis industrial market saw about 727,000 square feet of absorption in the first quarter, bringing the sector to 5.8 percent vacancy, according to the same source.

Earlier this spring, MDH acquired Fort Worth Logistics Hub Building 1, in Fort Worth, Texas, from VanTrust Real Estate. The 670,914-square-foot industrial building sold for $67.5 million.

And in February, MDH picked up an industrial property in El Paso, Texas, before its completion by developer NIT Industrial. Loop 375 Industrial is a 36-acre, approximately 555,000-square-foot campus on Joe Battle Road. Upon completion, the development will feature two rear-load warehouses and a larger cross-dock facility.