CBRE Negotiates Sale of Four Office Buildings in Memphis Totaling Nearly 400,000 SF
MEMPHIS, TENN. — CBRE has negotiated the sale of four office buildings within Lenox Park, a seven-building office park in Memphis. The sold office buildings include C, D, E and F, which total 391,297 square feet. Lenox Park is situated in the 385 Corridor submarket, 19 miles southeast of downtown Memphis. The four buildings were 86.7 percent leased at the time of sale to tenants including Varsity Brands, IMC Cos., Unified Health Systems, Trinity Meyer Utility Structures, W.M. Barr & Co., American Car Center, Benefit Recovery Group and Pickering. Johnny Lamberson, Terry Radford, Justin Parsonnet and Will Yowell of CBRE represented the seller, HighBrook Investors, in the transaction. New York City-based Group RMC acquired the portfolio for an undisclosed price. The buyer retained CBRE to handle leasing and property management services. Ron Kastner will lead office leasing efforts, Kevin Clarkson will spearhead property management services and Lisa Thomas will serve as the onsite property manager.