$21.7 Million Non-Performing Office Loan

For registration requirements and regulations, please review here or contact Alexsis Wolfson | 949-799-4658 | aaguirre@crexi.​com.​

CREXI and Jones Lang LaSalle ("JLL") are pleased to offer for sale a $21.7 million non-performing loan (the "Loan") secured by a deed of trust on a four-building office park (the "Collateral" or the "Property") located in Memphis, TN.​ The 10-year, fixed-rate Loan with an original principal amount of $24,187,500 was originated in July 2019 and was transferred to special servicing in January 2024 due to payment default.​ The Loan is in advanced foreclosure stage, and as of March 2025, the Loan is non-performing with an unpaid principal balance of $21,709,383.​

The Collateral comprises four, four-story buildings constructed between 1998-2001, situated on an approximately 28.4-acre site as part of a larger office park.​ The 391,292-square-foot Property is currently 23.9% occupied as of March 2025; however, a tenant occupying 9,806 square feet will terminate their lease in July 2025, reducing the Property's occupancy to 21.4%.​ The Property is located approximately 16 miles southeast of the Memphis central business district and sits just south of Poplar Avenue (US-72), the traditional route to and from Memphis.​

The offering presents investors the opportunity to acquire a loan in advanced foreclosure stage at a favorable basis that represents a significant discount to replacement cost.​

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  Non-Contingent

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  Earnest Money Deposit: 10% of the Purchase Price but no less than $50,000 or more than $1,000,000

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  Marketing Fee: 3% of the Winning Bid Amount, $20,000 minimum

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  $25,000 Participation Deposit via Wire Deposit only

3150 Lenox Park Blvd, Memphis, TN 38115

6745, 6750, 6775 Lenox Center Ct, Memphis, TN 38115

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  $21.7 million non-performing office loan

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  Secured by a Deed of Trust on a four building office park

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  10-year, fixed-rate Loan with an original principal amount of $24,187,500

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  Collateral comprises (4) four-story buildings constructed between 1998-2001

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  Situated on an approximately 28.4-acre site as part of a larger office park

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  Property is located approximately 16 miles southeast of the Memphis CBD