Target Leases 900,000 SF Distribution Center in Memphis

MEMPHIS, TENN. — Target has leased 900,000 square feet of industrial space at 5461 Davidson Road in Memphis, a distribution center that features 30-foot clear heights. The retail giant will invest $50 million to reposition the property as a regional online fulfillment center. Patrick Walton and Kemp Conrad of Cushman & Wakefield-Commercial Advisors LLC represented the property’s owner, an asset management and investment firm, in the lease transaction. Patrick Burke of CBRE represented Target. The property, which is slated to be operational by mid-2015, is expected to generate more than 400 jobs. Target by Innotrac, a third-party logistics firm, will manage the facility.