VOL. 117 | NO. 4 | Monday, January 6, 2003
? > 2 4 1 " bjbjUqUq &0 7 7 " l v v v v v v v d d d d p J k k k $ v k k k k k v v k v v k > v v ? d " 0 J p v v v v Corporate Park Adds to Tech Corridor
Easy access, affordable property help corridor flourish
The Daily News
The first of 10 new commercial office buildings has been completed in an area that is fast becoming one of the countys major corporate corridors.
Infuturo Technologies and Informed Medical Networks will occupy the 10,000-square-foot building, located at 9155 Crestwyn Hill Drive.
Employees at Infuturo were busy this week moving from the companys existing headquarters near Interstate 40 and Sycamore View Road.
A budding area. Joel Smith, a partner with local commercial/office development firm VCM, said the company plans to construct an additional nine buildings in the 12-acre development known as Germantown Corporate Park over the next three years.
Germantown Corporate Park is located off Forest Hill Irene Road between Bill Morris Parkway and Winchester Road. Smith said the area is becoming the new center for technology and medical offices.
We feel real good about the location, which was spurred by FedEx moving its technology center out there, Smith said. Now, new technology growth is going up in that direction.
That growth includes recent relocations or expansions in the area by Thomas & Betts, the Better Business Bureau of the Mid-South, Orgill Brothers Inc. and The ServiceMaster Co.
And a few years ago, Baptist Memorial Health Care Corp. acquired 83 acres of property near Forest Hill Irene and Winchester that it plans to sell, either in its entirety or in parcels.
Expanding its focus. VCM previously concentrated on erecting commercial buildings inside Memphis city limits, Smith said. But that changed in 2000 when the company was contracted to put infrastructure in place for a 75,000-square-foot building for Mid-America Specialties in the southeast corner of the county.
Its all part of the technology corridor that Germantown, Collierville and the Memphis Regional Chamber are pushing along Bill Morris Parkway, Smith said.
Infuturo Technologies, founded locally in 1997, provides professional services related to the planning, design, implementation and support of computer technology. The companys business partners include Microsoft, Novell, IBM, Compaq, Hewlett Packard, Cisco, 3Com, NetScreen and AT&T.
Informed Medical Networks, a division of Infuturo, is establishing a private medical network in the local market.
Residential impact. Infuturo president Steve Clark said the corridors residential growth was a factor in the companys decision to relocate.
The fact that there are other businesses there was just a small factor, he said. That part of the county is where things are growing, and there are going to be more folks moving into that area to help (Informed Medical Networks) grow.
Infuturo also has an office in Nashville.
Clark said the company wanted to move to a site near a major thoroughfare, and future access to Interstate 40 via state Highway 385 was critical to the relocation decision.
Access was very important, he said.
The new site will give Infuturos 50 employees an additional 4,000 square feet of workspace.
As-needed expansion. Smith said the remaining buildings in the corporate park will be built as market demand dictates.
VCM is in negotiations with a local engineering firm that could occupy a planned 14,000-square-foot building next to Infuturos new headquarters.
Plans for that building have been approved and construction should start soon, Smith said.
VCM, a partnership of Don Smith, Joel Smith and Jack Woods, has built and sold or leased small office and commercial buildings in three office/commercial parks in Cordova. The firm also has plans in the works for property in Collierville and in Hickory Hill. Ron Anderson of Intrepid Aviation is a partner in the Germantown development.
Reasonably priced. Smith said in addition to its easy access to Bill Morris Parkway, the corridor offers affordable property costs, at least for now.
Compared to property along Poplar Avenue and I-40, I think its reasonably priced, he said. Developed ground at $7 a square foot with the infrastructure is a real good value.
Were building at the center of that area, but there certainly is room for more growth.
Its all part of the technology corridor that Germantown, Collierville and the Memphis Regional Chamber are pushing along Bill Morris Parkway.
- Joel Smith
+ ? " 5\ % ] i x
7 ( T
+ 4 v ( " ! " $ 1hP / =!"#$%
i 8 @ 8 N o r m a l CJ _HaJ mH sH tH 4 @ 4 H e a d i n g 1 $@&