Properties

Staples, Memphis, TN

2321 North Germantown Parkway
Memphis, TN 38016

PROPERTY SOLD

Property: Investment Sales

Square Footage: 18,000

Price: $3,330,000

Cap Rate: Call

Description:

• 16 miles east of downtown Memphis at N. Germantown Pkwy (exit 16) and I-40
• Across from Colonial Country Club and near the 1.15 million SF Wolfchase Galleria Mall
• 18,000 SF retail store developed on 1.75 acres adjacent to Kohl’s, Ashley Furniture and Dick’s
• A 10 year corporate lease with rent bumps commenced in November 2011
• The transaction closed escrow in February 2012 for $3.33 million
• The buyer was an institutional investment company out of Texas