Situated in downtown Memphis, the Poplar Avenue lot is on approximately one acre of land and striped for 125 parking spaces. The lot has both attended and automated pay stations along Poplar Street, which borders the south side of the property. The lot is directly across from the Shelby County Justice Center and within a short walking distance to a number of downtown facilities, including, Memphis City Hall and County Election Commission. Prior to its development as a surface parking lot, the site was occupied by the Continental Cotton Gin Company from 1890 to 1977.
Acquisition of Property
|Address||212 Poplar Avenue
Memphis, TN 38103
|Acquisition Date||Aug. 28, 2013|
|Purchase Price||Property is part of an aggregate $13.5 million, six parking facility portfolio|
Known as America’s Aerotropolis because of the city’s central location and major industries, downtown Memphis is home to a diverse number of businesses and organizations including hosptials, schools and sporting facilities. The city, bordered by the Mississippi River, has one the nation’s largest ports, importing millions of tons of cargo each year. As a result, Memphis is the third largest rail center in the U.S., while the Memphis International Airport has been ranked as the top cargo airport in North America since 1992.
Memphis, TN: Founded almost 200 years ago, the city of Memphis has been a magnet for attracting people from all over the Delta, Mississippi, and West Tennessee. Today the city has a population of more than 650,000 people, making the largest city in Tennessee and the 20th largest city in the U.S.
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