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VOL. 133 | NO. 33 | Wednesday, February 14, 2018

Denver Real Estate Company Buys Prime Land in East Memphis

By Patrick Lantrip

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Confluent Development specializes in developing industrial and office projects, according to its website. 

(Shelby County Assessor Property) 

Denver, Colorado-based Confluent Development has purchased a prime parcel of vacant land in the Poplar/Interstate 240 corridor.

In the deal, Confluent, doing business as CD-HRA (Germantown) LLC, purchased the 3.2-acre property from local company Dunavant Enterprises, doing business as Grandview-Memphis LLC, for $4 million, according to a Feb. 13 warranty deed filed with the Shelby County Register.

William O. Hagerman, senior vice president of real estate operations, signed the deed on behalf of Dunavant, while Jonathan Rankin, senior vice president and CFO, signed on behalf of Confluent.

Located just north of the intersection of Poplar and Briarcrest avenues in the heart of East Memphis’ office district, the vacant land was last appraised for $1.7 million in 2017 by the Shelby County Assessor.

Confluent was founded in 2015 after the merger of two Denver-based real estate firms, MVG Development Inc. and Confluent Development Services, and specializes in developing industrial and office projects, according to its website.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 51 328 20,960
MORTGAGES 58 387 24,132
FORECLOSURE NOTICES 6 54 3,101
BUILDING PERMITS 170 842 43,435
BANKRUPTCIES 50 288 13,468
BUSINESS LICENSES 34 90 6,712
UTILITY CONNECTIONS 16 110 7,899
MARRIAGE LICENSES 32 91 4,734