The camera and film equipment rental company purchased the former Pan Am Flight International Academy back in October for $3.75 million.
The company will now spend an additional $3.6 million to convert the space at 8150 Sedgwick into a hybrid warehouse and office, according to filings with the Memphis and Shelby County Division of Planning and Development.
When Lensrentals first discussed the plan to move to a new HQ in October, the company said that it wanted to centralize its operations. Newly filed architectural plans indicate this same approach.
The first floor is mainly a warehouse, with conveyors running throughout the floor, and a large vault taking up almost the entirety of the space.
The second floor contains office and shipping space, as well as an abundance of office space. The vault space will also expand into the second floor.
TriCore Builders Inc. is listed as the general contractor on the permit.
Lensrentals has had an up-and-down pandemic, swinging from early difficulties to rapid growth, with 98% of the company’s business in shipping equipment. At one point during the first stages of the pandemic, there were worries about layoffs.
Business recovered, and the company has now hit 180 employees. The company told MBJ in October that it hopes to grow to 500 in the next five to 10 years.
The company’s new HQ also puts it in direct proximity to FedEx, of which it is a customer. The new HQ is about 12 miles from the FedEx Express World Hub at Memphis International Airport and one mile from its World Headquarters on Hacks Cross.