VOL. 114 | NO. 55 | Tuesday, March 21, 2000
Industrial Developments International has launched construction of a 283,000-square-foot speculative distribution facility in Southeast Memphis
Industrial Developments International has launched construction of a 283,000-square-foot speculative distribution facility in Southeast Memphis.
The $10 million facility, scheduled for completion in August, is IDIs latest project at Chickasaw Distribution Center, a 250-acre industrial park at Holmes and Hickory Hill roads.
The building will be designed for tenants seeking space in the 50,000-square-foot range, said Kurt Nelson, central region leasing associate for IDI.
Amenities of the facility include 30-foot ceilings and an early suppression fast response sprinkler system.
This new building will be the third IDI has under construction in the Chickasaw industrial park, which has more than 1 million square feet of speculative space currently being built.
The company also is building a 108,000-square-foot distribution facility, scheduled for completion within the next two months, and a 550,000-square-foot warehouse scheduled for completion May 1.
The Memphis office of Atlanta-based Trammell Crow Co. has been named property manager and leasing agent for five local properties.
As the exclusive leasing agent for the 1 million-square-foot Shelby Air Park industrial center in Southeast Memphis, Trammell Crow-Memphis also will now manage the property. Air Park is 98 percent leased, and its tenants include FedEx Corp., Bryce Corp. and Johnston Supply.
Trammell Crow-Memphis also has been named leasing agent and manager of Southwind Village, a 61,000-square-foot building at Southwind Offfice Park, as well as manager of the 500,000-square-foot Proctor Silex industrial building in Memphis Industrial Park.
Southwind Village is owned by Clarksdale, Miss.-based Cohen Realty Investments and is tailored for use by office, retail and service tenants. The Proctor Silex warehouse is owned by Hartford, Conn.-based UBS Brinson Realty Investors and is completely leased by Hamilton Beach/Proctor Silex.
The Memphis offices of Tramell Crow also was named leasing agent for Thousand Oaks Office Park near I-240 and Perkins, as well as Poplar Towers at 6263 Poplar Avenue.
Thousand Oaks is a three-building, 418,000-square-foot office complex, and its major tenant is FedEx. The 10-story, 102,000-square-foot Poplar Towers buildings major tenants include Regions Bank and Carty and Co.
Trammell Crow-Memphis currently leases and/or manages more than 10 million square feet of industrial space and 3 million square feet of office space in the Memphis market.
HP Holdings LLC has purchased property at 5133 Park Avenue from R. R. Morrison & Son for $1.1 million, according to a special warranty deed filed March 13 in the Shelby County Registers Office.
Walgreen Co. has purchased property at 3445 Elvis Presley Blvd. for $2.9 million from WN Winchester I LLC, according to a special warranty deed filed March 9.
Anderson-Tully Co. has purchased property at 4655 E. Shelby Drive from Commercial & Industrial Realty Inc., for $7.2 million, according to a special warranty deed filed March 9.