News
Memphis Investor Buys Germantown Site, Plans Self-Storage
Courtesy of Davidson County Property Assessor
Premier Storage Investors acquired a 1.4-acre site in Germantown, 1138 Second Ave N, which is occupied by a 13k SF office building and a smaller warehouse. The Memphis-based buyer paid about $4.4M for the parcel to Nashville-based entrepreneur Clay Sifford, who did well with the site: he bought it in late 2013 for nearly $1.2M, reports the Nashville Post.
Premier Storage, befitting its specialty, plans to develop a first-class, climate-controlled, self-storage facility. The site, about two blocks west of the Cumberland River, is near a number of other planned or under-development projects, especially mixed-use. [NP]
