Done Deal: Six acres near FedEx World HQ sells

Forest Bend Properties LLC recently sold almost six acres of land near FedEx World Headquarters to New Development LLC, according to a deed filed with Shelby County Register of Deeds.

New Development paid $784,000 for the site, according to the deed — about $200,000 more than Forest Bend paid for a slightly larger plot of land at the same address in 2015, according to a separate deed.
The piece of land sits across the street from a McAlister’s Deli and about a block away from Hwy. 385, which 50,000 vehicles drive on per day, according to marketing materials for the parcel. It also sits less than two miles away from Sedgwick Claims Management Services’ future headquarters.

New Development owns multiple pieces of land in the city that are home to gas stations and other retail developments.

NAI Saig Company’s Bryan Evans represented New Development in the negotiations, and Colliers International’s Andrew Phillips represented Forest Bend.

Jacob Steimer covers CRE, manufacturing, finance and nonprofits for MBJ.

http://www.bizjournals.com/memphis/news/2017/03/09/done-deal-six-acres-near-fedex-world-hq-sells.html