Tuesday, February 12, 2019

'The Clipper' Planned Downtown on FedEx Move

Posted By on Tue, Feb 12, 2019 at 1:51 PM

click to enlarge The Clipper - SOMERA ROAD INC.
  • Somera Road Inc.
  • The Clipper

Developers plan to build an eight-story office and hotel building called The Clipper adjacent to the Gibson Guitar factory building, the newly announced headquarters for FedEx Logistics.

The plan would build the 250,00-square-foot, modern office tower on a surface parking lot at just south of the Gibson plant across Doctor Martin Luther King.

click to enlarge The planned location of The Clipper. - GOOGLE MAPS
  • Google Maps
  • The planned location of The Clipper.

Here’s how The Clipper website describes the building:

“The Clipper will contain 50,000 square feet of ground floor retail space for high-end restaurants, a grocer, and boutiques. The remaining 200,000 square feet will be modern, Class A office space composed of 29,500 square-foot open-floor plates and space to house 1,500 employees. Also available to tenants is a new multi-level parking garage that allows for plenty of parking for future tenants.”

The project also includes “a state-of-the-art approximate-250-key full-service hotel, flush with best-in-class food and beverage amenities, a rooftop deck, and conferencing center. The hotel will be built in partnership with Senate Hospitality, owners of the highly successful Westin Beale Street.”

The plan comes from New York-based real estate investment firm Somera Road Inc. and local partner Orgel Family LP. The FedEx Logistics move to the Gibson factory announced earlier today was a major factor for the companies’s decision to build.

“The FedEx tenancy at the former Gibson site, our market research of the supply and demand dynamic Downtown, and the continued support and commitment from our investment committee have affirmed that we truly can reimagine a block of Downtown Memphis by strategically activating and bridging this valuable corridor between Beale Street and South Main,” said Ian Ross, managing director of Somera Road Inc. “The project will be a dynamic mixed-use, transformational connector.”

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