Triple Net Properties LLC this week purchased five of Lenox Park’s seven multistory office buildings in Memphis, Tenn., for an undisclosed price.
Clark & Clark was the seller.
The properties, Lenox Park C, D, E, F and G are four-story buildings totaling 489,933 square feet. At the time of sale, buildings C, D, E and F were approximately 76 percent leased to 35 tenants, including International Paper and Varsity Spirit, while building G was fully leased to Pfizer Pharmaceutical Co.
Lenox Park was built between 1996 and 2001, according to a press statement.
Triple Net Properties LLC operates nationwide.