Seefried Industrial Plans Build-to-Suit in Memphis
- Apr 15, 2021
Seefried Industrial Properties has revealed that it has commenced development of a build-to-suit distribution facility in Memphis, Tenn. The state-of-the-art building will encompass 181,500 square feet and serve as a package delivery center for the tenant, which Seefried describes only as one of the world’s largest e-commerce retailers.
While Seefried has not disclosed the specifics about the tenant, all signs point to Amazon as the unidentified future occupant. The last-mile logistics project will sprout up on a site at 3140 Victory Ridge Cove and will be utilized to complement a larger fulfillment center roughly a half-mile away on New Allen Road. Seefried completed the development of an 850,000-square-foot fulfillment center for Amazon on New Allen Road in the fourth quarter of 2020.
BL Cos. is behind the design of the build-to-suit facility, which will ultimately feature such accommodations as 13 trailer spaces, parking for more than 950 delivery vans, in addition to approximately 12,200 square feet of office and break room space. The stand-alone distribution center will allow for access to residents across the Memphis suburbs. According to a fourth-quarter report by CBRE, just under 1.5 million people live within 50 miles of the market core, with an expected growth rate of 1.9 percent over the next five years.
Seefried is a longtime Amazon development and project management partner. One of the company’s earlier projects for the e-commerce giant was a 1 million-square-foot fulfillment center in Hillsborough County, Fla., the plans for which were announced in 2013. More recently, the industrial real estate developer delivered Amazon’s first robotic fulfillment center in the State of Georgia, a 640,000-square-foot facility in Stone Mountain, GA., near Atlanta.
Although the list of Seefried’s Amazon developments just keeps growing, the company has not foregone other beneficial partnerships. In the month of March alone, Seefried began construction of an approximately 253,800-square-foot speculative distribution center project in Fairburn, Ga., on behalf of developer Clarion Partners LLC, and acquired a 6-acre parcel with Crow Holdings Capital for the development of a 140,000-square-foot industrial building in Southern California’s Inland Empire. Seefried has brought The Conlan Co. aboard to serve as general contractor for the Memphis project, and expects to complete construction in February 2022.