In 2015, South Carolina-based Johnson Development Associates and Denver-based Huntington Industrial Partners were on the brink of a 1.1 million-square-foot redevelopment of the former Mall of Memphis site.

After their payment-in-lieu-of-taxes deal fell apart, though, they sold the land and vowed to take their capital somewhere less politically risky than Memphis.

Olive Branch, Mississippi, is apparently that place.

The two development companies are set to embark on a $30 million, 815,000-square-foot…