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VOL. 114 | NO. 55 | Tuesday, March 21, 2000

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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.
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 76 133 1,342
MORTGAGES 83 131 1,047
FORECLOSURE NOTICES 8 19 170
BUILDING PERMITS 190 277 3,028
BANKRUPTCIES 39 73 691
BUSINESS LICENSES 12 22 298
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0