Gibson Guitar Brands Inc. is putting its Memphis factory on the sales block as it seeks to relocate to smaller digs.

According to the Memphis Daily News, Gibson’s current location near FedEx Forum spans 127,620 square feet and has an adjacent 330-spot parking lot. The company is seeking $17 million for the property.

“[Gibson is] definitely going to stay in Memphis, but when this venue was built it had a large entertainment venue (that) hasn’t been utilized in a couple of years,” CBRE executive vice president Johnny Lamberson told the news outlet, “and that’s approximately half of the building.” CBRE is handling the sale of Gibson’s Memphis factory.

Once Gibson figures out the square footage needed for its new location, it will again tap CBRE to handle that search, the news source added.

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