April 03, 2020
Boyle Investment Expands Its Poplar Corridor Holdings
The Commercial Appeal
By Ted Evanoff
Boyle Investment Company has bought four Poplar Corridor office buildings from Highwood Properties.
Boyle, a Memphis-based real estate firm, announced the purchase Wednesday.
The four properties include the prominent Triad Centre and International Place II buildings and contain 600,000 square feet of office space in total.
“Boyle has been working on this transaction since October 2019,” said a statement from company President Paul Boyle. “Although the closing has occurred during the current economic challenges posed by the efforts to slow the spread of COVID-19 virus, we believe the long-term impact will be positive for our community and city as these important assets will remain under local ownership and management.”
Highwood earlier announced it would sell its Memphis holdings under a plan to focus on real estate investment in Charlotte, North Carolina.
“This transaction is an affirmation of Boyle’s long-term commitment to Memphis and expands the company’s presence along Poplar Avenue from I-240 to International Drive,” Boyle’s statement says.
The Memphis firm also said it would hire nine former Highwood employees responsible for managing the buildings.
“The new properties will fit seamlessly into Boyle’s existing portfolio given that they are strategically located in the heart of the East Memphis business district where Boyle currently owns, leases and manages a sizeable portfolio of commercial real estate,” the statement says.