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VOL. 132 | NO. 195 | Monday, October 2, 2017

DHL Planning New Memphis Distribution Facility

By Patrick Lantrip

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0 Tchulahoma Rd.
Memphis, TN 38118

Tenant: DHL Supply Chain

Landlord: Belz Enterprises

Details: International shipping giant DHL Supply Chain is planning a massive new development just north of the Tennessee-Mississippi state line.

The global logistics division of Germany’s Deutsche Post DHL Group is looking to build a 580,000-square-foot distribution facility on 55 acres of vacant land east of Tchulahoma Road and west of Meltech Boulevard on the northern border of the state line.

The land currently belongs to Belz Enterprises under the name Southridge Industrial GP.

Belz sold much of their property in the area to MDH Partners in 2015 in an $82 million deal, but elected to keep the 55-acre parcel along with a 73-acre tract immediately to the north.

The Shelby County Assessor’s most recent appraisal of the 55-acre site values it at $1.6 million, while the larger parcel to the north is valued at $1.9 million.

Plans for the proposed DHL site call also for 405,000 square feet of paved areas that will include 150 car parking stalls and 66 trailer parking stalls.

Since the site contains 1.7 acres of federally regulated wetlands that feed into Tenmile Creek, DHL will have to make an in-lieu payment to the Tennessee Wildlife Federation for the 1.3 acres that will be filled. Future expansion plans may affect an additional 0.4 acres of wetlands, according to an application filed with state environmental officials.

Arco National Construction and GMA Architects are listed as the contractor and architect on the project, according to blueprints obtained by The Daily News.

DHL considered two other properties for the distribution center project: 5121 Malone Road and 2121 E. Raines Road.

While the Malone Road location was deemed an ideal location for a warehouse, the shipping company determined that at 38.8 and 8.1 acres, respectively, both properties were too small for the type of development being planned.

DHL Express, a separate unit of the global shipping company, operates a Memphis service center that nearly tripled in size when it moved into a 30,000-square-foot facility near Memphis International Airport in early 2016.

161 Jefferson Ave.
Memphis, TN 38103

Permit Amount: $8 million

Owner: JVD Enterprises

Tenant: Aloft Hotel

Architect: Design Studio @ MNT and PSE Design

Contractor: JiJi Construction

Details: Mississippi-based Vibrant Hotels Inc. has filed an $8 million building permit application to begin construction on its 155-room hotel in the Tenoke Building at Jefferson Avenue and B.B. King Boulevard.

The application calls for the demolition of an existing structure; site improvements; and the additions of a swimming pool, restaurant, kitchen, signage, penthouse level and “top area bar.”

JiJi Construction is listed as the contractor, while Design Studio @ MNT and PSE Design were tapped to handle the design work.

Vibrant, an affiliate of Batesville, Mississippi-based development company JVD Enterprises, received Memphis City Council approval in December to redevelop the 12-story Tenoke Building, 161 Jefferson Ave., into an Aloft Hotel, a boutique brand owned by Starwood Hotel & Resorts Worldwide. Development plans also call for the partial demolition of an adjacent one-story office building to provide for the hotel’s canopy check-in area and corner signage.

4395 Pidgeon Roost Rd.
Memphis, TN 38118

Lease Amount: 25,000 square feet

Tenant: Blumaq Corp

Landlord: Net Magan

Landlord’s Agent: Hank Martin, NAI Saig Co

Details: Blumaq Corp., an international machinery manufacturer headquartered in Spain, has signed a lease to occupy a 25,000 square foot warehouse at 4395 Pidgeon Roost Rd.

Hank Martin with NAI Saig Co. represented the landlord, Net Magan, doing business as NM Farms LLC, in this transaction.

Located near the confluence of Lamar Avenue and Raines Road, Bulmaq’s facility sits on 1.9 acres and was last appraised for $802,300 by the Shelby County Assessor.

4292 E Raines Rd.
Memphis, TN 38118

Lease Amount: 45,700 square feet

Tenant: Dayco Products Inc.

Landlord: Net Magan

Landlord’s Agent: Hank Martin and Elliot Embry, NAI Saig Co.

Details: Dayco Products Inc. has signed a lease to occupy 45,700 square feet in the Airport Industrial Park at 4292 E. Raines Road.

Hank Martin and Elliot Embry with NAI Saig Co. represented the landlord, Net Magan, in the deal.

Tulsa, Oklahoma-based Dayco researches, designs, manufactures and distributes engine products, drive systems and other services for automobiles, trucks, and construction, agricultural and industrial machinery.

6371 Winchester Rd.
Memphis, TN 38115

Sale Amount: $9.7 million

Sale Date: Sept. 19

Buyer: SBTN Realty

Seller: WRH Realty

Loan Amount: $8 million

Loan Date: Sept. 19

Borrower: Avraham Trachtingot

Lender: Arbor Realty Trust

Details: The Stonebrook Apartments, located at 6371 Winchester Road, have switched hands for $9.7 million.

In the deal, St. Petersburg, Florida-based WRH Realty, doing business as WHR Shelby Woods, sold the 13.75-acre complex to SBTN Realty, doing business as SBTN Apartments LLC.

John G. Withers, WRH’s senior vice president, signed the Sept. 19 warranty deed on behalf of the sellers.

Meanwhile, SBTN Realty took out an $8 million mortgage through Uniondale, New York-based Arbor Realty Trust operating under the name Arbor Commercial Funding I LLC. Avraham Trachtingot signed the deed of trust on behalf of SBTH Realty.

The 244-unit apartment complex was built in 1976 and was last appraised for $6.8 million in 2017, according to the Shelby County Assessor.

PROPERTY SALES 28 290 16,197
MORTGAGES 33 165 10,087
BUILDING PERMITS 184 608 38,544
BANKRUPTCIES 33 125 7,597