Commercial Advisors Represents Smith & Nephew in the Purchase of its New Orthopaedics HDQ

Commercial Advisors, LLC is proud to announce that it represented Smith & Nephew (S&N) in the purchase of its new orthopaedics headquarters at 7216 Goodlett Farms Parkway in Memphis, Tennessee. The 285,315 square foot building was previously owned by Harrah’s Entertainment and also includes 31 acres of land.
The new headquarters is located in the Goodlett Farms Office Corridor at I-40 and Whitten Rd in the Northeast Office Submarket. This area has seen a large amount of activity in the past year as many corporations have taken note of its central location and close proximity to residential and retail areas. S&N will soon be neighboring such companies as Hunter Fan, Stratus Foods, Accredo, FedEx and Regions Bank.
Smith & Nephew’s new facility will allow it to expand its orthopaedics headquarters in the region and in turn create 160 new jobs for the area. S&N already employs more than 2,000 people in Shelby County and received a $6.2 million, 15-year payment-in-lieu-of-taxes agreement from the Memphis and Shelby County IDB for the new location.
The Commercial Advisors team was lead by CA President & CEO, Larry Jensen, and Senior Vice President Kemp Conrad. S&N will expand its current campus on Brooks Road and is expected to move into the new space in August 2010.