Thanks for the feedback!
I tried to execute as you stated the following command but I continue to receive the “out of memory” error.
The verbatim command that I ran was:
TMPDIR=/share/CACHEDEV1_DATA/Multimedia/Music/Data/tmp/ beet import /share/CACHEDEV1_DATA/Multimedia/[Fresh]/Music/Electronic/
I then received the same error output as in the original post.
Even with the directory change I continue to receive this error. It doesn’t seem logical.