A Tennessee investment outfit with ties to the Millington racetrack owner has quietly rolled into southeast Memphis, dropping about $10.5 million on a big-boned warehouse near the city’s logistics core. Cuttell Investments LLC picked up the 169,272-square-foot building at 4481 Distriplex Cove, a property brokers had been pushing to the market for months. The deal is the latest in a string of moves involving the same ownership circle and underscores that investors are still plenty interested in Memphis industrial real estate.
According to the Daily Memphian, Cuttell Investments bought the building from Olymbec USA LLC for $10.5 million, which works out to roughly $62 per square foot. The sale was reported on April 27, 2026.
Property Details And Recent History
Commercial listings and parcel records peg the facility at 169,272 square feet on roughly 10.4 acres, with features that check a lot of industrial wish lists: a 22-foot clear height, 14 dock-high doors, and an ESFR sprinkler system, according to its LoopNet listing. Industry reporting notes that Olymbec bought the building late in 2025, then turned around and re-marketed it before this latest transaction closed.
Buyer Ties And The Racing Connection
Cuttell Investments is affiliated with Darana Hybrid and other business interests linked to Darryl Cuttell, the entrepreneur behind recent IHRA track acquisitions and the revival of the Millington motorsports property, according to motorsports coverage. That relationship is why local reports have framed the buyer as connected to a regional racetrack owner rather than a standard-issue logistics or warehouse operator.
Why Memphis Still Matters For Industrial Buyers
Memphis continues to punch above its weight as a logistics hub, thanks to its proximity to Memphis International Airport (MEM), intermodal rail yards, and major interstate corridors. Market reports point to strong recent absorption that keeps investors circling the area. Cushman & Wakefield's MarketBeat data and other national industrial reporting highlight tightening fundamentals across key inland distribution hubs, a backdrop that helps explain why buyers are still willing to pay up for well-located, second-generation warehouse space in and around Memphis.
The newly recorded sale adds another data point in a market that has seen a steady stream of deals for both user-owned and investor-owned industrial buildings. Local brokers will be keeping an eye on future listings and public filings for any word on new tenants, build-outs, or redevelopment plans tied to the property.
