The Offering
Representing an established address within the East Memphis office market, The Park Station consists of approximately 37,921 square feet of medical office space. Currently 75% leased, the Property is supported by a tenant mix which includes an array of established medical practices including pediatricians, dentists, orthodontists, chiropractors and podiatrists. The Park Station offers convenient access to Memphis’ most affluent neighborhoods, primary transit arteries, three (3) hospitals, as well as numerous retail and dining establishments.
The Park Station represents a unique value-add opportunity for investors to acquire a strategically located medical office asset within the MSA’s premier office submarket at a significant discount to replacement cost.
Investment Highlights
- Medical Tenancy with Upside Potential: Currently 75% leased, Park Station’s tenant mix includes an array of established medical practices including pediatricians, dentists, orthodontists, chiropractors and podiatrists.
- Premier Office Submarket: The Park Station represents an established address located within the premier office submarket in the Memphis MSA. Neighboring tenancy includes International Paper (World Headquarters), FedEx (Executive Headquarters), SunTrust Bank, Regions, Kroger (Delta Division Headquarters), and UBS Financial.
- Well Positioned to Area Amenities: The surrounding area offers an array of retail amenities including The Fresh Market, Whole Foods, Kroger, Bed Bath & Beyond, Home Depot, TJ Maxx, Michaels, Houston’s, Carrabba’s, Ruth’s Chris, Seasons 52, and The Capital Grille.
The Park Station
| Address | 5180 Park Avenue, Memphis, TN 38119 |
| Rentable SF | 37,921 |
| Acreage | 2.04 |
| Occupancy | 75.10% |
| Purchase Price | $2,250,000 ($59.33 PSF) |
Contact Information
Johnny Lamberson
Investment Properties
+1 901 260 1060
john.lamberson@cbre.com
Terry Radford
Investment Properties
+1 901 260 1022
terry.radford@cbre.com
Cliff Joyner
Debt & Equity
+1 615 248 1134
cliff.joyner@cbre.com
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