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VOL. 127 | NO. 163 | Tuesday, August 21, 2012




Herbalife Plans to Expand Memphis Distribution Center

By Kate Simone

Print | Front Page | Email this story | Email reporter | Comments ()

5025 Crumpler Road
Memphis, TN 38141

5025 Crumpler Road • Memphis, TN 38141

Permit Cost: $4.8 million

Permit Date: Applied August 2012

Owner: Memphis Herb GP c/o Cardinal Industrial

Tenant: Herbalife

Contractor: Kajima Building & Design Group

Details: Los Angeles-based Herbalife Ltd. is planning to expand its distribution center in the Southeast Memphis industrial submarket, filing a $4.8 million building permit application for the 5025 Crumpler Road property. The nutrition-focused multilevel-marketing company leases the site, which is in Chickasaw Distribution Center, from Memphis Herb GP.

The scope of the application recently filed with the city-county Office of Construction Code Enforcement includes site grading, footing and foundation, sewer relocation, new office and warehouse space, upgraded electrical service and other site improvements.

Kajima Building & Design Group, an Atlanta-based company with a satellite office in Memphis, is listed as the project’s general contractor.

Built in 2006, the 132,000-square-foot Class A warehouse is situated on 15.9 acres on the west side of Crumpler between East Shelby Drive and East Holmes Road. The Shelby County Assessor’s 2012 appraisal for the property, which Herbalife will lease through 2016, is $4.6 million.

Herbalife sells weight-management, nutrition and personal care products through independent distributors. Its two other distribution centers are in Los Angeles and Venray, Netherlands.

3131 Democrat Road
Memphis, TN 38118

Permit Cost: $2 million

Permit Date: Applied August 2012

Owner: FedEx Corp.

Tenant: FedEx Corp.

Details: FedEx Corp. is planning to add sleeping quarters at its World Service Center on Democrat Road to serve flight crews, according to a $2 million building permit application filed with the city-county Office of Construction Code Enforcement.

The project scope listed on the application includes demolishing the interior of building C to add 128 sleeping rooms and toilets for FedEx crews.

The change comes in the midst of other local construction projects by the shipping giant. In June, the company opened its new hub screening facility, a 30,500-square-foot facility where employees and others enter the hub on Democrat Road. The project also included a 220-foot pedestrian bridge over Democrat to connect the screening facility and a parking lot.

FedEx plans to complete a large piece of its expansion project – a two-story, 125,102-square-foot sorting building – this fall.

2146 E. Shelby Drive
And 742 E. Raines Road
Memphis, TN 38116

Loan Amount: $2.2 million

Loan Date: Aug. 2, 2012

Maturity Date: Aug. 30, 2013

Borrower: RML Development Inc.

Lender: SPCP Group III CNI 1 LLC

Details: RML Development Inc. has filed a $2.2 million, one-year loan through SPCP Group III CNI 1 LLC for two Whitehaven apartment complexes totaling 196 units. The company bought both Class D complexes in 2005 for a combined $1.9 million.

One property, 2146 E. Shelby Drive, is a 124-unit complex situated on 4.6 acres on the north side of East Shelby between Boeingshire Drive and Airways Boulevard. The other, 742 E. Raines Road, is a 72-unit complex on 4.2 acres on the north side of East Raines east of Orleans Road.

The Shelby County Assessor of Property’s combined 2012 appraisal is $1.5 million.

RML Development lists a residential address in Southeast New York.

4569 Summer Ave.
Memphis, TN 38122

Sale Amount: $1.3 million

Sale Date: July 31, 2012

Buyer: 3C Summer Partners LLC

Seller: Stephen L. LaFrance Pharmacy Inc.

Loan Amount: $1.7 million

Loan Date: July 31, 2012

Maturity Date: July 25, 2017

Lender: Trustmark National Bank

Details: A 16,085-square-foot former Ike’s drug store at the corner of Summer Avenue and North Perkins Road has sold for $1.3 million, or about $81 a square foot.

3C Summer Partners LLC, which lists a residential address in Brentwood, Tenn., bought the property from Stephen L. LaFrance Pharmacy Inc., filing a $1.7 million loan through Trustmark National Bank at the time of purchase.

Built in 1952, the former pharmacy building is situated on 1.5 acres at the southwest corner of Summer and North Perkins. The property, which Stephen L. LaFrance Pharmacy owned since 2002, was appraised by the Shelby County Assessor this year at $1.1 million.

USA Drug, a subsidiary of Pine Bluff, Ark.-based Stephen L. LaFrance Pharmacy, pulled out of the Memphis market in 2010, closing its 17 Memphis-area Super D and Ike’s stores and selling their prescription files to Walgreen Co.

4673 Millbranch Road
Memphis, TN 38116

Permit Cost: $1.3 million

Permit Date: Applied August 2012

Owner: McDonald’s USA

Tenant: McDonald’s

Details: A McDonald’s fast-food restaurant is set to be built at the southwest corner of Millbranch Road and East Shelby Drive in Whitehaven.

A $1.3 million permit application filed with the city-county Office of Construction Code Enforcement by McDonald’s USA states the restaurant at 4673 Millbranch will feature a double drive-thru design as part of a steel and masonry building.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 51 223 1,152
MORTGAGES 55 189 861
FORECLOSURE NOTICES 25 45 144
BUILDING PERMITS 149 541 2,593
BANKRUPTCIES 24 120 581
BUSINESS LICENSES 14 65 264
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0