MEMPHIS-Switzerland-based Glencore Grain USA LLC has acquired a warehouse building measuring 406,204 square feet at 4834 S. Mendenhall in Southeast Memphis. The company has purchased the property from ProLogis NA2 Tennessee I LLC for $6 million or about $14.77 per square foot.
ProLogis bought the Class B building, constructed in 1978, from Principal Life Insurance Co. for an amount of $7.25 million in January 2003. According to local sources, Glencore will utilize the building to store various commodities including cotton.For the full story, go to Memphis Business Journal.
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.