Oct
27

MEMPHIS DAILY NEWS – 10/27/15

TRINITY RIDGE BUSINESS CENTER SELLS FOR $16M

Tuesday, October 27, 2015 Memphis Daily News California-based Corsair Boulevard LLC, affiliated with Libitzky Property Cos., has purchased the Trinity Ridge Business Center in Cordova for $16 million, according to a special warranty deed signed Oct. 15. The sale included the five parcels located at 7730 Trinity Road, 7740 Trinity Road, 7750 Trinity Road, 7760 Trinity Road and 7866 Trinity Road. The eight-building, 235,000-square-foot industrial park sits on 22 acres north of the intersection of Trinity and Raleigh-LaGrange roads. It was built between 1998 and 2007. Montreal-based Dalfen America Corp. had owned the center since 2011 when it purchased the parcels for $7.6 million. A mortgage of $11.5 million was issued at the time of sale by Wells Fargo Bank. The seven-year loan matures Oct. 10, 2022. The properties have a combined tax appraisal value of $8.4 million. Link to original article