VOL. 130 | NO. 153 | Friday, August 7, 2015
Disney Store's Memphis Distribution Center Sells for $27.5 Million
Wendy Greenlaw/Chandler Reports
DDC Investment Inc., a Colorado nonprofit corporation, has acquired The Disney Store’s Memphis distribution operation.
DDC purchased the building at 4795 Imagination Drive in Southpoint Distribution Park for $27.5 million, according to a special warranty deed filed Aug. 5.
The Disney Store has leased the property since 1996. The 660,000-square-foot distribution center was built in 1997 by Clayco for Disney’s direct marketing division.
The facility includes 35,000 square feet of Class A office space and 625,000 square feet of distribution space.
The seller, PanCal Shelby 126 LLC, purchased the property in January 2011 for $20 million.
The center sits on 46.4 acres at the southwest corner of Imagination Drive and Pleasant Hill Road.
The Shelby County Assessor of Property lists a tax appraisal value of $18.7 million.