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ATLANTA-Locally based Industrial Developments International Inc. has its 3.72 million-sf Chickasaw Distribution Center in Memphis, TN at near 100% occupancy with the signing of the Memphis Group Inc. to a five-year, 160,000-sf lease with an estimated aggregate value of $3 million.

Average asking rents at the four-year-old, 91%-leased park are $2.80 per sf to $4.50 per sf.

The tenant will use the facility for distribution and storage of airctraft parts. Memphis Group will use 6,000 sf for an onsite office.

Buster Barron of IDI negotiated for the owner. Dick Faulk of Edward LeMaster Co. represented the tenant.

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