CBRE Leasing DryPort’s First Riggy’s Truck Parking in Memphis

DryPort Capital has selected CBRE to market for lease its new industrial and outdoor facility, Riggy’s truck parking, in Southeast Memphis, located at 5178 Citation Drive.

DryPort Capital, a Houston-based real estate and logistics company, owns and develops best-in-class, concrete industrial outdoor storage facilities that cater to the needs of a wide range of trucking fleets, local owner operators, 3PL companies and household name logistics tenants. DryPort’s truck parking operating platform, Riggy’s, will lease a portion of the lot allocated to nightly and monthly per spot rentals with its proprietary booking platform.

Patrick Walton and Stephanie Allen with CBRE are the leasing agents for the site. This will be the fourth location for the company and the first Riggy’s location in Memphis. The company currently has three locations in the state of Texas. The Memphis project is near completion and is expected to open May 2024.

“DryPort’s Memphis development site fits our location thesis, which targets industrial rich areas due to the high inbound and outbound freight volume,” said Mike Burney, DryPort’s Head of Real Estate and Development. “Southeast Memphis boasts over 100 million square feet of industrial building and the logistics arm of some of the world’s largest transport, e-commerce, automotive and retail companies are within a few miles of the new Riggy’s Memphis.”

The property features 1-11 acres of Class A truck parking consisting of 220 tractor/trailer bays for lease. The facility features a secure access gate, 9-foot permitter security fence, LED site lighting, 24/7 surveillance cameras and 75-foot by 12-foot demarcated parking bays with flexible site plan options available. In addition, the facility contains a truckers’ lounge that includes restrooms, showers, vending machines, TVs, Wi-Fi and commercial laundry facilities. The property has easy access to I-55, I-69, I-240, Highway 78 and I-40.

“The Industrial Outdoor Storage (IOS) need is continuing to ramp up in the Memphis region,” said Patrick Walton, Senior Vice President at CBRE. “Located in the heart of the Memphis Industrial Market and in close proximity to the BNSF intermodal, DryPort Capital’s Riggy’s concrete platform, a state-of-the-art product type catering to truckers and end users, is well positioned to accommodate users in the area.”

“Each Riggy’s location is a symbol of our commitment to the transportation industry and to the hardworking men and women who keep our country moving,” said David Olson, Co-Founder a DryPort responsible for the Riggy’s operation. “With each location we are expanding our reach further allowing us to offer a much-needed solution for truckers.”