Industrial developer IDI has signed a $6.3 million build-to-suit agreement with nutritional marketer Herbalife to develop a 129,600-square-foot distribution facility at Chickasaw Distribution Center in Tennessee.
Herbalife signed a 10-year lease to occupy Building K at IDI’s Chickasaw Distribution Center, a 4.6-million-square-foot master-planned business park in Memphis, Tenn. The building, now under construction at the park, will be Herbalife’s regional fulfillment center.
The company is scheduled to occupy the space September 1.
“Herbalife wanted to be in a modern distribution center in a business campus setting,” said Tim Moore, vice president of leasing in IDI’s Memphis development office. “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 square feet on the site.”
Building K is under construction on the last remaining parcels of developable land at Chickasaw. “This basically completes IDI’s development at the site,” Moore said. However, space for tenants with space needs of up to 550,000 square feet is available for lease at buildings D, G and J at the park.
Mike McRoskey and Frank Scott of Staubach Los Angeles and Andy Cates of Colliers Wilkinson Snowden represented Herbalife in the $6.3 million deal.
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