Southeast Memphis office property changes hands
JLL listed the Lenox Office Park for sale as collateral to an unpaid loan of $21.7 million. (Dima Amro/The Daily Memphian file)
Lenox Office Park, a seven-building campus with more than 700,000 square feet in the Interstate 385 corridor, has changed ownership.
Lenox Park Memphis Realty, an entity affiliated with New York-based Group RMC Corp., transferred full ownership of four Lenox Park office buildings to MBG Investment Holdings in exchange for a complete release of a $24.2 million loan obligation.
MBG Holdings, a California-based company, acquired the Class A office buildings through a deed in lieu of foreclosure for $10.5 million, according to a Shelby County Register of Deeds filing.
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Andy Ashby
Andy Ashby is a veteran reporter with more than 14 years of journalism experience, including stops at the DeSoto County Tribune, the Daily News, and the Memphis Business Journal. He graduated from the University of Tennessee, where he photographed the 1998 National Championship game.
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