FedEx Express files $15M building permit

By Patrick Lantrip

From Daily Memphian

The permit calls for “site demolition, underground utilities, footing and foundations” at 2777 Sprankel Ave., and lists ANF as the architect and Allen & Hoshall as the engineer.

During a conference call earlier this month, FedEx lowered its earnings forecast for the fiscal year, citing economic weakness in Europe and Asia, and said it won’t achieve its goal of adding $1.2 billion to $1.5 billion in profits at FedEx Express by May 2020.

However, the company left its capital investment forecast for the year at $5.6 billion and reaffirmed the importance of projects, including the more than $1 billion expansion and modernization of the Memphis hub.

The Memphis project, scheduled to run from 2019 to 2025, has been billed as a transformation because it would raze the oldest parts of the hub, including buildings dating to the 1950s and 1960s, and replace them with modern package-handling and truck-loading facilities.


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