Ridgeline Property Group Enters Memphis Industrial Market to Develop I-269 Logistics Center in Marshall County, Miss.

Atlanta-based developer plans to build up to 3.5 million square feet of prime industrial space on 328-acre site.

Memphis, TN, July 25, 2016 – Entering the Memphis industrial market to meet the strong demand for bulk distribution space, Atlanta-based Ridgeline Property Group (RPG) announced today it will develop I-269 Logistics Center, a logistics park in Marshall County, Miss., that will feature up to 3.5 million square feet of Class A distribution and industrial space.

RPG has formed a joint venture with the owner of the 328-acre site, Mississippi Land Holdings, LLC, a special purpose vehicle owned by the CK Pearl family of funds and managed by Crestline-Kirchner, L.P., to develop the logistics park, which occupies a prime location at the intersection of Goodman Road and the southeast corner of the new I-269 beltway. Geringer Capital initially identified and secured the site prior to the announcement of the Interstate expansion and in its position as manager brought RPG to the project.

Dave Curran and Matt Weathersby of Cushman & Wakefield/Commercial Advisors will market the property for lease.

“We’re extremely pleased to form a joint venture to develop this prime site on Goodman Road at the southeast corner of I-269, a new section of the Memphis loop highway that will provide excellent access to I-55 into Memphis and to I-40 and I-22 into large consumer markets to the east and west,” said Greg Thurman, CEO of Ridgeline Property Group.

Thurman added: “Memphis, one of the strongest industrial markets in the U.S., is experiencing extremely strong demand for Class A industrial space, but bulk space is currently in very short supply. I-269 Logistics Center will answer this need, providing e-commerce and other operators the modern, efficient distribution space they require.”

The Memphis market has been surging, registering a record 8 million square feet of absorption in 2015 and 1.7 million square feet of absorption in the first quarter of 2016, according to the 1Q 2016 Memphis Industrial Snapshot from Cushman & Wakefield/Commercial Advisors. At the same time, there are only three existing options in the market for users seeking 400,000 square feet or higher.

Recent large leases signed in the Memphis market include a 1.5 million square foot build-to-suit for Tire & Battery Corp. in the Marshall/Fayette submarket and a 708,532 square foot lease for Nike in the Southeast submarket.

A sample of RPG’s projects currently under development across the U.S. include Crossroads Logistics Center (398,250 SF) in Jonestown, Pa.; Eagle Park 20/35 (453,600 SF) in South Dallas; Tracy Pescadero Distribution Center (381,600 SF) in Tracy, Calif.; and Crest Hill Industrial Park (438,150 SF) in Chicago.

About Ridgeline Property Group

Ridgeline Property Group is a commercial real estate development and investment company operating throughout the United States. Headquartered in Atlanta, the firm has a particular focus on the acquisition, development and management of high-quality industrial and office properties in strategic markets. RPG’s regional partners have more than 125 years of combined experience in the commercial real estate industry and have developed in excess of 115 million square feet of space in more than 30 states. For additional information, please see www.ridgelinepg.com.

About Crestline-Kirchner, L.P.

Crestline-Kirchner provides financings or acquires and manages portfolios of private assets made available through restructurings, orphaned portfolios, manager transitions, end of fund life scenarios and related special situations. For more information, please visit www.crestlineinvestors.com.