Airport Authority approves UPS' $216M expansion at MEM - Memphis Business Journal
The sixth amendment of a longtime UPS lease agreement with the airport will let it expand its Memphis distribution facility to the tune of $216 million.
The project was approved Thursday, Feb. 20, by the Airport Authority.
In the agreement to expand its hub at 3675 New Swinnea Road, Atlanta-based United Parcel Service Inc. will pay an annual rent of $239,000 starting March 1. The expansion will add 1.1 million square feet of land to be used as facility support and trailer parking, according to the resolution of the Memphis-Shelby County Airport Authority (MSCAA). UPS will remove certain outdated facilities currently located on the property.
The sixth amendment of a longtime UPS lease agreement with the airport will let it expand its Memphis distribution facility to the tune of $216 million.
The project was approved Thursday, Feb. 20, by the Airport Authority.
In the agreement to expand its hub at 3675 New Swinnea Road, Atlanta-based United Parcel Service Inc. will pay an annual rent of $239,000 starting March 1. The expansion will add 1.1 million square feet of land to be used as facility support and trailer parking, according to the resolution of the Memphis-Shelby County Airport Authority (MSCAA). UPS will remove certain outdated facilities currently located on the property.
