{"id":1004110209,"date":"2014-12-30T08:07:13","date_gmt":"2014-12-30T16:07:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004110209"},"modified":"2022-12-01T02:12:38","modified_gmt":"2022-12-01T10:12:38","slug":"target-takes-900-ksf-in-memphis","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/target-takes-900-ksf-in-memphis\/","title":{"rendered":"Target Takes 900 KSF in Memphis"},"content":{"rendered":"

By Barbra Murray, Contributing Editor\"5461<\/a><\/em><\/p>\n

New leases, build-to-suit leases, lease expansions–big-box retailers are staking claim to big chunks of space outside of the leading markets, and Target\u2019s commitment to a 900,000-square-foot facility in Memphis is among the latest transactions. The discount retailer will invest $50 million to tailor the building at 5461 Davidson Road to its specifications.<\/p>\n

Commercial real estate services firm CBRE Group represented Target in the lease transaction, while Cushman & Wakefield | Commercial Advisors L.L.C. stood in for the landlord, which, according to Shelby County property records, is Memphis Industrial Park Inc., an entity affiliated with UBS Realty Investors.<\/p>\n

The pull of Memphis for industrial users, according to Cushman & Wakefield, lies in the location.<\/p>\n

\u201cWe can reach 75 percent of the country\u2019s population within a three-day truck drive and we\u2019re quadrimodal \u2013 meaning a nexus of logistical infrastructure including rail, roadways, runways and river,\u201d Kemp Conrad, president of Cushman & Wakefield-Commercial Advisors Asset Services, noted in a press release.<\/p>\n

Originally developed in 1998, 5461 Davidson was once occupied by Hamilton Beach, but it most recently served as a seasonal home for media technology company Technicolor SA, which had set up shop in 600,000 square feet of the building. For its purposes, Target will utilize the facility as its regional online fulfillment center, serving the southeast region.<\/p>\n

Target\u2019s repositioning of 5461 Davidson will bring the distribution center online in mid-2015.\u00a0 Redevelopment was perhaps the company\u2019s best bet in the area.<\/p>\n

\u201cMarket activity is robust, and developers are building spec in North Mississippi; however, there has been no spec development in Memphis since 2007–creating an opportunity for a pioneer in the core Southeast Memphis submarket,\u201d Conrad told Commercial Property Executive<\/i>.<\/p>\n

But it\u2019s not just about Memphis. According to a Cushman & Wakefield report, \u201cDemand for big-box space is also growing in secondary major distribution and population hubs such as Indianapolis, Memphis, Phoenix and Houston.\u201d<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

New leases, build-to-suit leases, lease expansions–big-box retailers are staking claim to big chunks of space outside of the leading markets, and Target\u2019s commitment to a 900,000-square-foot facility in Memphis is among the latest transactions. <\/p>\n","protected":false},"author":969,"featured_media":1004110212,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21748,21742],"tags":[],"class_list":["post-1004110209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-industrial","category-latest"],"acf":[],"yoast_head":"\nTarget Takes 900 KSF in Memphis - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/target-takes-900-ksf-in-memphis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Target Takes 900 KSF in Memphis\" \/>\n<meta property=\"og:description\" content=\"New leases, build-to-suit leases, lease expansions--big-box retailers are staking claim to big chunks of space outside of the leading markets, and Target\u2019s commitment to a 900,000-square-foot facility in Memphis is among the latest transactions.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/target-takes-900-ksf-in-memphis\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-12-30T16:07:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-01T10:12:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/12\/5461-Davidson-Road-Memphis-Tenn-.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"1035\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/target-takes-900-ksf-in-memphis\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/target-takes-900-ksf-in-memphis\\\/\"},\"author\":{\"name\":\"Barbra Murray\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"headline\":\"Target Takes 900 KSF in Memphis\",\"datePublished\":\"2014-12-30T16:07:13+00:00\",\"dateModified\":\"2022-12-01T10:12:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/target-takes-900-ksf-in-memphis\\\/\"},\"wordCount\":321,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/target-takes-900-ksf-in-memphis\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/12\\\/5461-Davidson-Road-Memphis-Tenn-.jpg\",\"articleSection\":[\"Brokerage\",\"Industrial\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/target-takes-900-ksf-in-memphis\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/target-takes-900-ksf-in-memphis\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/target-takes-900-ksf-in-memphis\\\/\",\"name\":\"Target Takes 900 KSF in Memphis - 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