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Article: Preference for leasing sends prospects elsewhere.
- Article from:
- The Commercial Appeal (Memphis, TN)
- Article date:
- March 18, 2007
CopyrightCOPYRIGHT 2007 The Commercial Appeal. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jane Roberts
Mar. 18--Frank C. Pidgeon Industrial Park, billed in the 1990s as the largest greenfield in urban America, is still vacant, critics say, because officials prefer to lease instead of selling it.
The clearest example of what might have been under a different policy happened in the late 1990s when Hillwood, the second largest industrial developer in the world, tried to work out a deal here but quit when it wasn't able to quickly buy land.
Instead, it moved to Southaven, where it now owns 1,200 acres near Interstate 55 -- enough to eventually build 11 million square feet of distribution and assembly space.
"We've been ...