What Is Available in Memphis — and How Fast Can It Be Powered?
- What is for sale?
- A ±49-acre North Memphis campus with 4.5 MW contracted today, a path to 15 MW on Substation 1 and up to 35 MW across two on-site substations (subject to MLGW/TVA confirmation). Data center use is permitted by right, and it is offered as an unpriced call for offers.
- How fast can it be powered?
- 4.5 MW is contracted and serving the campus today, so a 4.5 MW user is not waiting in a queue. That compares with an average of about 4 years nationally for a new large-load grid connection in 2026 (why).
- Who is it built for?
- Edge, regional colocation, enterprise private cloud and HPC/GPU users needing 4.5–15 MW, with room to grow toward 35 MW. The ±25 pad-ready acres and ±185,000 SF of convertible buildings support either a new shell or a conversion.
- How is TVA's 2026 data center rate handled?
- Expansion tiers are subject to MLGW/TVA confirmation, Large Data Service classification and Capacity Commitment Charge treatment; utility responses go to the data room. See what changed with TVA's rate.
Offering Memorandum — Unpriced Call for Offers
Powered Shell Data Center — 4.5 MW Today
North Memphis, TN | ±49 Acres | ±185,000 SF | Data Center Use By Right
Contracted Today
4.5 MW
Substation 1 — serving the campus today
Substation 1 Path
15 MW
Expansion path on Substation 1*
Both Substations
35 MW
Sub 1 to 15 MW + Sub 2 re-energized at 20 MW*
Target User
4.5–15 MW
Edge · colocation · enterprise · HPC / GPU
Powered Shell — Right-Sized for Speed to Power
A powered-shell data center opportunity on a ±49-acre heavy-industrial campus with two substations already on site. Substation 1 is contracted at 4.5 MW and serving the campus today, with an expansion path to 15 MW; Substation 2 can be re-energized at 20 MW — up to 35 MW across the two, subject to utility confirmation. The campus pairs that power with ±185,000 SF of convertible buildings, ±25 acres of pad-ready ground for a new data center shell, 161 kV transmission traversing the property, the Memphis metro fiber ring on-site, and natural gas service. It is sized for the users who can move now — edge, regional colocation, enterprise private cloud, and HPC / GPU operators — in a top-20 U.S. data center market where deliverable power has become the scarcest asset in commercial real estate.
The Power Ladder
4.5 MW contracted today → 15 MW Substation 1 expansion → 35 MW with Substation 2 re-energized at 20 MW.
*Expansion tiers are subject to MLGW / TVA confirmation, Large Data Service classification, and Capacity Commitment Charge treatment — see the TVA Power Framework below.
Site
±49 Acres
9 parcels, single ownership
Zoning
IH / EMP
Data center use permitted by right
Buildings
±185,000 SF
Convertible stock + ±25 ac cleared
Delivered
Pad-Ready
Demolition complete & fenced by ownership
11 Miles from xAI’s Colossus — Zero of Its Headaches
Colossus proved Memphis is a data center market. This campus captures that momentum without the friction: a right-sized powered shell in an established heavy-industrial corridor — industrial neighbors, industrial infrastructure, industrial labor pool, no residential adjacency conflicts — replacing a shuttered plant.
Utility confirmation is in process with MLGW.
Detailed questions on contract-demand recognition, transferability, and TVA data-center classification are with the serving utility; responses will be posted to the data room. The offering is unpriced; ownership will evaluate proposals through a structured call-for-offers process. Execute the NDA for data room access →
The Infrastructure Stack
The campus was engineered for continuous heavy-industrial operations and carries infrastructure that typically takes years — and tens of millions of dollars — to assemble on a greenfield site. For a powered-shell user, that means existing substations, fiber, and entitlement on day one.
| Asset | Detail |
|---|---|
| On-site substations | Two substations located on the property — Substation 1 contracted at 4.5 MW serving the campus today, with an expansion path to 15 MW, and Substation 2 re-energizable at 20 MW — up to 35 MW across the two, subject to MLGW / TVA confirmation. |
| 161 kV transmission | High-voltage transmission traverses the site, with western parcels immediately adjacent to the line. The campus takes delivery at transmission level. |
| Long-term optionality | 161 kV transmission and land capacity for additional substation sites preserve a path to large-load build-out for a future user. Under TVA’s new Large Data Service framework, large new data center load carries a Capacity Commitment Charge of $1.521M per MW above the first 5 MW — so large-scale expansion is presented as long-term upside, not the base case. |
| Fiber connectivity | The Memphis metro fiber ring runs on-site — day-one connectivity for data center, edge, and colocation deployment. |
| Natural gas | High-capacity gas service from the legacy industrial operation. |
| Rail & logistics | Class I rail corridor on the boundary; active CSX intermodal yard ±1.3 miles; Memphis five-railroad hub. Served by two rail spurs. |
| Entitlement | Heavy Industrial zoning permits data center and industrial uses by right under the current code — no discretionary approval required to file permits. |
TVA Power Framework
At its August 20, 2026 board meeting in Memphis, TVA approved a new Large Data Service framework that moves data center load into its own rate class (Schedule DC / DCA) and adds a non-refundable Capacity Commitment Charge (CCC) of $1.521 million per MW for the first 2,000 MW cohort, effective with October 2026 billing. For new load, the charge applies only above the first 5 MW of contract demand. The CCC is separate from the power bill and from any transmission, substation, or interconnection cost. At 4.5 MW, the site’s contracted service sits below the 5 MW threshold. The result: in TVA territory, right-sized power already on the ground is now worth more than large-scale promises.
| Contract demand (new load) | MW subject to CCC | Illustrative CCC |
|---|---|---|
| 4.5 MW — contracted today | 0 MW | $0 |
| 7.5 MW | 2.5 MW | $3.8M |
| 10 MW | 5 MW | $7.6M |
| 15 MW — Substation 1 path | 10 MW | $15.2M |
| 35 MW — both substations | 30 MW | $45.6M |
Illustrative only, assuming treatment as new load at TVA’s published FY 2027 first-cohort charge. Actual treatment depends on Existing / Inflight status, waiver approval, delivery-point treatment, and contract terms.
Buyer Pool: 4.5–15 MW
- Edge compute — lower-latency regional capacity near Memphis logistics networks.
- Regional colocation — staged deployment in a powered shell with fiber on-site.
- Enterprise private cloud / DR — dedicated capacity without a 100 MW campus.
- HPC / GPU — workloads that can grow in phases alongside power.
- Smaller neocloud platforms — GPU cloud providers that monetize capacity quickly.
Open with MLGW / TVA
- Recognition of the full 4.5 MW contract demand as available to the site.
- Transfer of contracted service through the sale or lease.
- Existing-load status vs. Schedule DC / DCA treatment after data center redevelopment.
- CCC treatment of phased expansion above 5 MW, to 15 MW and 35 MW.
- Interruption terms and Firm Generation Date for expansion load.
Phased Power Strategy
4.5 MW contracted today — under the 5 MW threshold → 15 MW Substation 1 option → 35 MW with Substation 2 — each step priced against CCC, timing, and infrastructure scope.
The Building Stock
- ±85,000 SF connected block — 40,000 SF two-story office plus 45,000 SF of connected warehouse. Powered-shell candidate for phased edge / colocation conversion.
- ±100,000 SF warehouse — powered-shell conversion candidate or immediate industrial occupancy.
- ±25 acres of cleared land following scheduled demolition of non-value structures — pad-ready ground for a new data center shell alongside live infrastructure.
- All 49 acres can be delivered cleared and pad-ready as well.
- Legacy loading infrastructure — dock doors, a covered dock and truck court, and two rail spurs on site.
Long-Term Campus Concept
Beyond the powered-shell base case, the campus’s 161 kV transmission and land capacity support a future large-load build-out. The rendering below is a conceptual long-term scenario only — subject to TVA Capacity Commitment Charge treatment and a utility study. Non-value structures are scheduled for demolition, with ±25 acres cleared alongside live infrastructure and the site fenced by ownership.
Location — Jackson Ave / Warford St, North Memphis
To xAI Colossus
11 Miles
CSX Intermodal
±1.3 Miles
Memphis Rail Hub
5 Railroads
Parcels
9 / One Owner
Data Room & Offering Process
The campus is offered for sale or lease without an asking price through a structured call-for-offers process. All offers will be evaluated on a highest and best basis.
| Step | Detail |
|---|---|
| 1. Execute NDA | Qualified parties receive data room access upon execution of a confidentiality agreement. |
| 2. Data room | Utility and power documentation, including MLGW / TVA responses on contract demand, transferability, and data center classification; master site plan, survey and parcel detail, site condition and demolition status, title, and building information. |
| 3. Site tours | Scheduled tours with the listing broker; infrastructure walk including substations and building stock. |
| 4. Offers due | Bid deadline to be announced. Powered-shell purchase or lease, build-to-suit structures, whole-campus proposals, and alternative configurations will all be considered. |
Offering available to qualified parties.
Access to the virtual data room is provided upon execution of a confidentiality agreement (NDA).
eXp Commercial | 3401 Mallory Lane, Suite 200, Franklin, TN 37067
This summary is provided for preliminary informational purposes only and does not constitute an offer to sell. All information is from sources deemed reliable but is not guaranteed; prospective purchasers must independently verify all matters, including utility capacity, entitlements, and site conditions. Stated power figures reflect Substation 1 contracted service and existing-substation expansion and re-energization potential, and remain subject to utility confirmation, TVA Large Data Service classification, Capacity Commitment Charge treatment, and final engineering. CCC figures are illustrative, based on TVA’s published FY 2027 first-cohort charge, and are not a tariff opinion or utility commitment. Utility confirmation is in process with the serving utility; no representation of deliverable or transferable capacity is made herein. Ownership reserves the right to modify or withdraw the offering and to reject any proposal. Brokered by eXp Commercial.
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Carson Jones
Carson Jones is the host of Carson's Corner: Commercial Real Estate, author of The Red Flag Playbook, a licensed commercial real estate advisor and business broker, and the founder of Passive Investments. With 18 years of experience as an entrepreneur and 12 years specializing in passive investing, Carson works with high-net-worth individuals, family offices, business owners, and sophisticated investors as a broker and principal.
Carson holds a BBA in Finance from Baylor University and his Tennessee commercial real estate license (#382989). He actively pursues acquisition and equity opportunities across the United States through a nationwide network of qualified buyers, family offices, institutional investors, and top-tier developers.