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VOL. 131 | NO. 210 | Thursday, October 20, 2016

Trustmark Centre Building Sells for $14.5 Million

Daily News staff

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An office building at 5350 Poplar Ave. in the prime East Memphis office submarket has been sold.

The Trustmark Centre building, located between Valleybrook and West Suggs Drive, was purchased by Tennessee and New York investment companies doing business as 5350 Poplar Office Center LLC for $14.47 million.

The seller is a group of 14 Tenants in Common, or TICs, from Greenville, South Carolina, according to public records. Those investors are doing business as TIC Poplar Ave LLC.

The 260,764-square-foot Trustmark Centre sits on 3.6 acres and was built in 1973.

The Shelby County Assessor of Property most recently appraised the building and land at $14.28 million.

Tenants in the building include Trustmark National Bank, Evergreen Packaging Inc., Southern Eye Associates, Coyote Logistics, Delta Asset Management and Universal Asset Management, records show.

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