Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, is pleased to announce Phase I of the Tennessee Brewery is now completely leased.

The first phase of the mixed-use community is currently 100% leased and accomplished stabilization in record time with leasing complete less than five months after the first units moved into the main Tennessee Brewery building. 

“The Tennessee Brewery has quickly become one of most profiled Memphis development projects and is a proven success story of adaptive reuse in Memphis,” says Mark Fogelman, President of Fogelman Properties. “Billy and his team took an old, dilapidated building and radically transformed it into an incredibly vibrant development with marketable rents and exceptional features.”

According to Fogelman, the property opened its doors in late December 2018 and has since become the real estate company’s fastest “opening to stabilization” community during this cycle.

“We’re thrilled to see the response to the Tennessee Brewery and remain quite impressed with our team’s ability to quickly activate the space and execute on the strategic marketing plan,” says Billy Orgel, lead developer for 495 TN Partners. “We look forward to continued excitement and demand around the project as we improve the retail mix of the neighborhood and transform a key area in downtown Memphis.”

Construction on Phase II of the Tennessee Brewery, which includes an additional 121 units, will begin early July 2018 with expected delivery in summer 2019.