Sears Building

Memphis, TN

  • 1,400,000 square foot loft building and 2,000 car parking deck in strategic Crosstown area

  • Purchased from Sears Roebuck and company

  • Extensive environmental remediation performed

  • Demolished obsolete structures throughout, and made entire structure water tight

  • Leased 400,000 square feet to achieve substantial interim positive net income while developing mixed use plans

  • Performed extensive marketing surveys and local as well as national outreach in order to leverage the properties unique location at the Medical District, as well as Overton Park residential area and with educational institutions directly proximate

  • Developed complete mixed use redevelopment plans working in conjunction with city, state and community officials.

  • Sold to a not for profit developer

  • IRR during ownership27.8%

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425 East 52nd Street

New York, NY 10022

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