After transitioning businesses in 2010, Dunavant Enterprises Inc. is changing locations in 2011.
The privately-held global logistics firm has signed a 20,000-square-foot lease at 959 Ridgeway Loop Road with another Memphis-based institution, Boyle Investment Co.
The new office space will become the home for Dunavant’s world headquarters, and the company plans to make the transition from its current location, 3797 New Getwell Road, to the two-story East Memphis building this summer.
“The move of our headquarters into this new space is a natural transition for Dunavant and one that is strategic in nature as we continue to expand as a company,” William B. Dunavant III, CEO and president of Dunavant Enterprises, says. “As we focus the company’s interests, now in global logistics and transportation, investments and real estate development, we wanted to be in a location that is near many of our business partners, and this space accomplishes that.”
Dunavant Enterprises has been at its current location since 1971, during which time most of the company’s focus was the global distribution of cotton. The company sold its cotton interests to Allenberg Cotton Co. in 2010.
“We are very excited to have one of Memphis’ most admired worldwide companies join us at Ridgeway Center,” Mark Halperin, executive vice president of Boyle Investment, says. “We have had both long-term business and personal relationships with many of the Dunavant principals.”
Matt Weathersby, a broker with Commercial Advisors LLC, acted as an agent for Dunavant Enterprises in lease negotiations.
Dunavant Enterprises began operations in 1960 and became one of the largest cotton merchants in the world, becoming the first U.S. company to deliver cotton to China in 1972.
During that time, it established more than 50 years of experience in logistics and supply chain management.
In April 2010, Dunavant Enterprises finalized the sale of its global cotton business to long-time competitor Allenberg and its parent company, Louis Dreyfus Corp., for an undisclosed amount.
Dunavant Enterprises made its logistics division the prime focus of the reorganized company while retaining its real estate and investment divisions.
959 Ridgeway Loop is a two-story office building at Boyle’s 204-acre Ridgeway Center near Poplar Avenue and I-240.
Built in 1977 on 2.3 acres, the building consists of 29,241 square feet of office space.