Magnolia acquired the nine-story, 163,000 sf office building in October of 2017. The “Trustmark” Building is located at 5350 Poplar Ave in Memphis and is part of a historically strong office submarket with low vacancy. The building was 93% leased at the time of purchase. Magnolia is strategically attracted to this asset due to its strong property and market fundamentals. Plans to reposition the B+ building to a Class A asset are currently underway.