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Montreal Investor Expands Industrial Presence in Memphis, Tennessee, With 1 Million-Square-Foot Deal

Property Built Nearly Six Decades Ago as a Gift Wrap Plant

A Canadian investor bought an industrial property in Memphis, Tennessee, built in 1964 by gift wrap company Cleo. (CoStar)
A Canadian investor bought an industrial property in Memphis, Tennessee, built in 1964 by gift wrap company Cleo. (CoStar)

A Montreal-based real estate investor is expanding its industrial portfolio in Memphis, Tennessee, with buying 1 million square feet of space that once housed a gift wrap manufacturing operation.

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