The Economic Development Growth Engine for Memphis and Shelby County (EDGE) board on Friday approved a 21-year lease for 522 acres southeast of the xAI facility at 3231 Paul R. Lowry Road. Nashville-based CTC Property LLC, an affiliate of xAI, can purchase the land after the lease term expires.
According to the lease term sheet, CTC Property will pay no rent in the first year, after which the company will pay $1,654,961 annually in rent with 2.5% yearly increases. After the lease term expires […]
EDGE approves land lease for xAI as Elon Musk's company looks to expand in Memphis