A proposed state-of-the-art two-building business park could offer up to 572,880-sf

Memphis, TN – Avison Young has been exclusively retained to market a speculative industrial portfolio on a 57-acre site in Hernando, MS, just south of Memphis, TN. The I-55-adjacent property will be home to two class A buildings with a potential for 572,880-square-feet (sf), to be developed by JPH Development. Avison Young has also been retained to fully lease the properties once online.

JPH Development is working in partnership with Avison Young principals Erik Foster and Mike Wilson, both part of the firm’s National Industrial Capital Markets team and located in the firm’s Chicago office. Avison Young principals Jacob Biddle and Shane Soefker will provide landlord representative services.

“Because of the dramatic shifts in the debt market over the last year, investors have been cautious when pursuing opportunities. However, the surge in demand for class A industrial space, especially between 50k-100k-sf, has blazed a confident path for capital investment, and the partnership with JPH Development offers a solid opportunity,” said Foster. “The strong proximity to the powerhouse Memphis industrial infrastructure with favorable Mississippi tax benefits will yield great return potential.”

Current plans for the portfolio include the construction of two buildings built concurrently to take advantage of market momentum. Access to the Interstate, clearances, and docking capabilities will be ideal for logistics, manufacturing, and related users.

“This park will offer a rare opportunity for smaller users to relocate to first-generation space for a more efficient operational experience versus occupying existing, aging product currently in the market,” said John Halpin, JPH Development.