Exciting Development in Memphis: A Prime Office Building Hits the Market
Here in Memphis, things are buzzing as a notable office building just became available for sale. The heart of this exciting news revolves around the former headquarters of Smith & Nephew, located at 7135 Goodlett Farms Parkway. This property has been a staple in the Memphis area for quite some time and now it’s opening up new opportunities for prospective buyers and businesses.
A Brief Look at the Property
Constructed in 2003, the building is quite impressive, boasting 285,000 square feet of space, making it the 7th largest standalone office building in Memphis, according to local research. With an appraisal value of around $28.5 million, the building is not just an office; it’s a complete corporate campus that offers much more.
This expansive space includes 269,000 square feet of premium office space, a 26,000-square-foot Tier IV data center, and even a 5,000-square-foot warehouse. All of this sits pretty on a 56-acre campus, which features beautiful walking paths and streams, creating a pleasant environment for employees to enjoy. It’s worth noting that 31 acres of land remains undeveloped, just waiting for future expansion possibilities.
A Potential New Home for Companies
There is a growing trend of companies looking to relocate their headquarters to the South, and this property could be a perfect candidate for such a move. With its prime location just south of I-40, between the Whitten and Appling Road exits, 7135 Goodlett Farms is perfectly situated for accessibility and visibility.
Russ Westlake and Jack Wohrman from the Chicago-based firm JLL are currently marketing this facility. They see this property as a fantastic opportunity for potential buyers or investors. “7135 Goodlett Farms is a prime opportunity for a user or investor to acquire a thoughtfully designed, well-located corporate campus in excellent condition,” said Wohrman. That’s quite a strong endorsement!
He elaborated further on the property’s appeal, indicating, “There are very few properties in the market that can compete with the location, quality, amenities, and technological capabilities of the property.” With the chance for on-site expansion and the building’s adaptable open floor plans, the new owner could explore various redevelopment options.
What’s Next?
As Memphis continues to grow, this listing could mean big things for economic development in the area. The property is particularly attractive because it not only offers a high-quality workspace but also the potential for future developments and improvements —it’s like hitting the jackpot for any investor or business.
For those keeping a keen eye on commercial real estate and economic developments in Memphis, it’s a perfect moment to pay attention. The changing landscape brings opportunities that could truly shape the future of our beloved city.
If you are part of the business community here, don’t forget to check out the upcoming events and nominations for the annual Building Memphis Awards, which celebrate exceptional commercial construction projects that positively impact our city. This is yet another chance to see Memphis thrive!
With such developments on the horizon, it’s definitely an exciting time to be in Memphis. Whether you’re a potential buyer or simply a resident hoping to support local progress, the future looks bright!
