Confluent Development specializes in developing industrial and office projects, according to its website.
Denver, Colorado-based Confluent Development has purchased a prime parcel of vacant land in the Poplar/I-240 corridor.
In the deal, Confluent, doing business as CD-HRA (Germantown) LLC, purchased the 3.2-acre property from local company Dunavant Enterprises, doing business as Grandview-Memphis LLC, for $4 million, according to a Feb. 13 warranty deed filed with the Shelby County Register.
William O. Hagerman, senior vice president of real estate operations, signed the deed on behalf of Dunavant, while Jonathan Rankin, senior vice president and CFO, signed on behalf of Confluent.
Located just north of the intersection of Poplar and Briarcrest avenues in the heart of East Memphis’ office district, the vacant land was last appraised for $1.7 million in 2017 by the Shelby County Assessor.
Confluent was founded in 2015 after the merger of two Denver-based real estate firms, MVG Development Inc. and Confluent Development Services, and specializes in developing industrial and office projects, according to its website.