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Three Companies Moving to Stateline Business Park
Industrial Development International’s Stateline Business Park is rapidly gaining tenants as three companies have either moved into space there or announced plans to do so.
Terumo Medical Corp., the U. S. subsidiary of Japan-based Terumo Corp., will occupy 130,000 square feet in Stateline Business Park. Terumo Corp. was founded in 1921 as a clinical thermometer manufacturer and has grown to operations in 150 countries with $2.1 billion in sales in 2005. TMC was founded in 1972 and generates $174 million in sales annually. TMC’s products include guidewires, catheters, needles and syringes, oxygenators and a line of sterile connection devices used in hospitals and blood banks.
ITT, based in White plains, NY, is also moving to Stateline Business Park, consolidating two existing facilities into one 96,588-square-foot space. ITT is a leader in the transport, treatment and control of water, wastewater and other fluids, and also supplies defense electronics and services to the U. S. government and military, and is active in space surveillance and intelligence systems and advanced engineering. The consolidation merges ITT’s residential and commercial divisions into the Southaven facility, which will be used for light assembly and distribution of its residential, commercial and industrial pumps and parts.
Aerospace Products International (API), a subsidiary of First Aviation Services, will consolidate four facilities into one 172,188-square-foot warehouse in Stateline Business Park. API, based in Memphis, distributes aircraft parts and related products to manufacturers, maintenance providers and aircraft operators around the world and also provides overhaul and repair services.
The movement of these companies into DeSoto County reflects a trend that has been going strong for several years. For the first time, DeSoto County led the Memphis market with 2.7 million square feet of absorption, half of the entire Memphis market’s 5.4 million square feet of absorption.