One of Midtown’s most familiar industrial landmarks is officially up for grabs. Prairie Farms has put its dairy plant and surrounding land next to Overton Square on the market, asking $15 million for roughly 9.25 acres that could become one of Memphis’ biggest redevelopment plays.
The plant, a large refrigerated manufacturing facility that once anchored the neighborhood’s industrial corridor, shut down on May 30, 2025. With the listing now live, a property that many Midtown residents drove past daily is suddenly the subject of serious speculation about what comes next.
What’s for sale
The offering bundles two connected parcels: a 6.56-acre lot at 2040 Madison Ave and a 2.68-acre lot at 2018 Court Ave, for a total of about 9.25 acres. The site includes a 129,612-square-foot building with roughly 34,381 square feet of refrigerated space, according to the commercial listing on LoopNet.
Brokers have been circulating a Cushman & Wakefield marketing packet with a site plan, zoning notes and nearby comparable projects, pitching the property as a prime candidate for mixed-use or residential redevelopment. The online listings, which first appeared in mid-February, are being handled by Cushman & Wakefield’s local team.
Price and company comment
As reported by Daily Memphian, Prairie Farms has set the asking price at $15,000,000.
David Warmath, the company’s general manager, said the property “has long been part of the fabric of Midtown” and added that Prairie Farms sees opportunities for the site to keep serving the community in a new way, even if that future role looks very different from its dairy days.
History and neighborhood push-pull
The plant’s shutdown on May 30, 2025 affected roughly 120 workers, according to Hoodline’s coverage of the shuts down historic Memphis facility.
For years, the site has been at the center of a tug-of-war over what belongs next to Overton Square. Neighbors have complained about truck traffic and noise, while some developers have pushed for denser housing and entertainment-focused projects, a tension chronicled by the Memphis Flyer. With the dairy operation now gone, those debates are likely to get louder.
What developers will watch
Broker materials highlight the site’s EMP and CMU-3 parcels and its Madison and Jefferson frontage, signaling that a buyer could chase a mix of housing, retail and entertainment if they secure the right zoning changes. The Cushman & Wakefield packet lays out a site plan and comparable deals that underscore Midtown’s appetite for mixed-use development, and it is available to prospective buyers through the broker team. Cushman & Wakefield
Whether a future owner keeps the refrigerated plant or clears the site for new apartments and shops will say a lot about the next chapter for Midtown. Local officials, developers and neighbors will be watching permits, offers and any rezoning requests closely as the sale process plays out.
