Colorado Investors Pay $27.5 Million for Some Disney Magic
Tuesday, August 11th 2015
A 648,000-square-foot distribution center in Memphis, Tennessee, that ships all Disney Store e-commerce orders has been sold for $27.5 million to a Colorado entity.
PanCal Shelby 126 LLC, an affiliate of Panattoni Development Co., sold the Disney Distribution Center to an entity known as DDC Investment Inc., listed as a Colorado nonprofit corporation, for $27.5 million, according to a Aug. 4 special warranty deed. The investors behind DDC were not reported.
PanCal Shelby bought the distribution facility for $19.17 million in 2011.
Constructed as a built-to-suit for the Walt Disney Co. (NYSE: DIS) in 1996 by Panattoni Development, the distribution center is fully leased to Disney Stores USA LLC. The lease expires May 31, 2020.