MEMPHIS-SK Realty Management has purchased the fully-occupied Raines Distribution Center here for $9.4 million.

The New York City-based investment firm acquired the 658,257-square-foot industrial property in Southeast Memphis from Prologis North Carolina LP, according to the Memphis Business Journal.

The deal marks the entrance of SK Realty Management into the Memphis industrial market.

Brian Califf and Hank Martin of NAI Saig Co. represented SK Realty Management in the transaction. John Lamberson of CBRE Memphis and Frank Fallon of CBRE Atlanta represented Prologis in the deal. See story in the Memphis Business Journal.