MEMPHIS, TN (WMC) - A Memphis commercial real estate company announced its plans to invest in the Broad Avenue area by bringing a vacant warehouse back to life.
Loeb Properties made the announcement Tuesday, providing detailed renderings of what the west part of the old Sears Factory Outlet warehouse could look like when the renovation is complete.
The renderings show a place for parking in the warehouse. Surrounding the parking area will be retail, entertainment, a restaurant, and even office space.
"We have been in planning mode for the last six months, specifically addressing issues that come with converting a 70-year-old warehouse to a new use," says Aaron Petree, VP of Brokerage for Loeb Properties, in a written statement. "We are currently in negotiations with a few exciting prospective tenants in the fitness, retail, entertainment, and restaurant categories, and we are looking for other unique businesses to add to the mix."
The warehouse that Loeb Properties plans to restore is located on the north side of Broad Avenue.