Nike buys Frayser land for expansion

Nike Inc. is moving forward with expansion plans for its North Memphis facility with a 200-acre, $2.2 million land purchase from Belz Investco GP, Memphis Daily News reports.

The Beaverton, Ore.-based company bought the land located north of its 1.1 million-square-foot facility in Belz’s Northridge Industrial Park. The sale closed Jan. 24, according to the report.

Nike (NYSE: NKE) is expanding its Memphis distribution operation and in October received a payment-in-lieu-of-taxes incentive from the Memphis and Shelby County Economic Development Growth Engine for the project. The sports retail giant will add 250 jobs and about 1.8 million square feet to its existing operation in Frayser.