FedEx Corp. of Memphis has scheduled a groundbreaking for its new Ground distribution facility in southwest Little Rock. The publicly traded logistics firm (NYSE: FDX) has set the event for noon on Feb. 19 at a 44-acre site near the northwest corner of Alexander and Loop roads.
Arkansas Business reported in December that an affiliate of Saad Development Corp. of Mobile, Alabama, had purchased the pastureland from R&D Holding LLLP, led by Don Thompson. Saad paid $3.38 million.
Saad is a commercial development company specializing in “nationwide build-to-suit and value-add development.” Among various projects on Saad’s website are FedEx locations throughout the country.
The $24.9 million construction project is forecast to take a year and will involve a new street, Industry Parkway, which will link with Alexander Road to the south and Loop Road to the east.
FedEx hasn’t commented on its plans for the site. Plans submitted to the city show a 305,000-SF package distribution warehouse and truck station. The documents also indicated the project could have parking for 624 employees and room for 118 more. We’ll know more on Feb. 19.