Texas firms submit plans for $16.9 million warehouse in Southeast Memphis
TriGate Capital and ID3 Partners are planning a 354,640-square-foot speculative warehouse in Southeast Memphis, according to plans submitted to the Memphis and Shelby County Division of Planning and Development.
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Cal Throckmorton of ACRO Design submitted plans for a new construction permit for a new warehouse development at 4131 Clarke Road.
The pending construction site is located near the intersection of East Raines Road, across from the EGS Electrical Group building.
According to a submission letter from Throckmorton, on behalf of TriGate Capital, the warehouse will cost $16.9 million to build.
According to Matt Denny of JLL Memphis, ID3 Partners is handling the development of the warehouse and TriGate Capital is managing the capital for the project.
“This is going to be their first project in Memphis,” Denny said.
Denny said the team is looking to begin construction in June and looking to have the property delivered in the first quarter of 2022. The project site is 34 acres in total. Denny is handling the leasing on the property along with JLL Memphis colleague Stan Myers.
TriGate Capital is a Dallas-based real estate firm. The company was formed in 2007 and handles nearly $2 billion worth of assets, according to its website.
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