CBRE Arranged the 474,000-sq-ft. Industrial Lease
Memphis, TN – January 25, 2021 – Unis LLC has signed a 474,000-sq.-ft. industrial lease at 4400-4500 Quality Drive in Memphis. Unis LLC, an asset-based fulfillment provider, will use the space as its second fulfillment center in the area, expanding its Memphis footprint to over 600,000 sq. ft.
CBRE’s Patrick Walton arranged the lease on behalf of the landlord, Dawson Logistics Assets, LLC, an affiliate of Mapletree Investments. Jessica Chen of Kander Pacific, Inc. represented Unis LLC in the transaction.
“Organic expansion of the existing tenant base has been one of the main drivers of absorption here in the Memphis market. This transaction is a prime example of that. Unis expanded their footprint and the property’s ownership is very happy with the opportunity to accommodate their growth here in the Midsouth,” said Mr. Walton, a Senior Vice President at CBRE.
Located in the master planned development industrial park,“Southpark,” the Class A asset is directly adjacent to the BNSF intermodal yard in the heart of Memphis’ Southeast submarket with easy access to the Memphis International Airport and FedEx Worldwide Hub.
“The demand for our services has been overwhelming and the decision to expand was an easy one. Half of the space will be used for a dedicated contract and the other half for multiple clients fulfillment and to expand our final mile solution. Our facilities and terminals are strategically located by the major marine and inland ports. We are able to service our clients to 98 percent of the country’s population with two-day service,” said Scott Simanek, Unis LLC’s Chief Commercial Officer.
According to CBRE Research, industrial leasing activity remained strong in Q4 2020 as tenants made both long and short-term leasing decisions. Notably, the Southeast submarket posted the greatest amount of leasing activity in Q4 2020, at two million sq. ft.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.