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MEMPHIS-Herbalife Ltd. has signed a 10-year, $6.3-million lease for a 129,600-sf distribution facility here that will be built to suit the company by Atlanta-based Industrial Developments International. The facility will be built at IDI’s Chickasaw Distribution Center in Memphis’ Southeast submarket.

The purveyor of weight loss products will occupy Building K, which is now under construction at the 4.6-million-sf master planned park. Occupancy is scheduled for September. Mike McRoskey and Frank Scott of Staubach in Los Angeles and Andy Cates of Colliers Wilkinson Snowden represented Herbalife.

As part of the agreement, Herbalife has the sole right to expand on the adjacent land, which gives them the capacity to double their space to about 260,000 sf on the site, says IDI’s locally based VP of leasing Tim Moore. Herbalife VP Tom Harms says the company inked the deal because it wants its independent distributors and employees to be able to come to a “state-of-the-art distribution and walk-in facility.”

Though there is about 550,000 sf available for lease within the park, Building K soaks up one of the last remaining developable parcels at Chickasaw. In response, IDI is now also developing Stateline Business Park, another Memphis development that will total 3.9 million sf upon completion. Stateline currently has about one million sf of space in two buildings in operation and another two buildings totaling 650,000 sf are under construction and scheduled for completion next month.

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