By Amalia Otet, Associate Editor
Collierville emerges once more as one of Memphis’ strongest submarkets as new housing projects are coming to fruition.
Germantown, Tenn.-based Magnolia Homes is currently working on its newest development in the heart of Collierville, called Village Park. The home sites are 15,000 square feet and larger, with the most spacious homes ranging from 3,000 to 4,800 square feet. An all-brick French Creole design, community pool and a pool house ready to be opened soon, a Tech-Shield radiant barrier to conserve energy, low-e glass windows and granite kitchen countertops are only some of the features that make it alluring to buyers. Naturally, there is a Magnolia tree in the front yard, intended as a trademark of all Magnolia built homes. The community is conveniently located within walking distances to award-winning schools, such as Crosswinds Elementary and Collierville High, in an area boasting excellent shopping centers, recreational facilities and community services, including Johnson Park, one of the best parks in the Mid-South.
Prices range from $300,000 to $500,000. According to a Commercial Appeal story, three Magnolia homes are presently on the market in Village Park, six have already sold, four are prepared for kick off and seven others are on the way.
In other news, ITT Goulds, a Seneca Falls, N.Y.-based industrial pumping system manufacturer, has leased 68,508 square feet in the master-planned Stateline Business Park, in Building C at 8890 Commerce Drive, to use as a distribution center. ITT Gould was primarily attracted by the property’s ideal location in close proximity of Memphis International Airport and Interstate 55, as reported by the Daily News. The Class A, 257,976-square-foot business park is owned by Industrial Development International Inc., a real estate company headquartered in Atlanta that is focused exclusively on industrial property. The business park is located at the southeast corner of Stateline and Swinnea roads in Southaven.