MEMPHIS, Tenn. — It looks like FedEx won’t be moving a major division to Downtown Memphis after all.
Somera Gibson Holdings, which bought the Gibson Guitar factory in Memphis a year ago and had been in negotiations with FedEx to relocate their Trade Networks division, confirmed the deal had fallen through.
The deal could’ve brought 18,000 FedEx workers from East Memphis to Downtown.
Still, the owners of the landmark industrial and commercial site say they are optimistic about the future of the site and Downtown Memphis.
“We are extremely excited about the growth and vibrancy of Downtown Memphis, and we are proud to continue to be a part of its present and future development,” the company said in a statement. “Between Union Row and Wiseacre Brewing’s announcements just last week, as well as other robust development news within the last year, these investments have only increased our confidence in Memphis’ pipeline and the value of our property.”
Gibson, an iconic guitar maker, said last year it would move out of its Memphis facility, though they would find another site in the city. The company filed for bankruptcy this year.
Somera Gibson Holdings said it has received plenty of interest from office, hotel, and retail uses for the building.