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VOL. 123 | NO. 49 | Tuesday, March 11, 2008

Legacy Center Buildout Closer to Completion

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1661 Aaron Brenner Drive
Memphis, TN 38120
Permit Amounts: $1 million total

     Project Cost:     $11.3 million

     Permit Date:     Applied March 2008

     Completion:     June 2008

     Owner:     Peck Investment Co.

     Tenant:     Watkins Uiberall PLLC and Cannon-Sexton Oral Maxillofacial Surgeons

     Architect:     Thoda and Associates PLLC

     Contractor:     Linkous Construction Co. Inc.

     Details:     The inside of the 61,000-square-foot, three-story Legacy Center office building in East Memphis is taking shape as building permits for two more tenants were filed last week.

          Interior buildout for the CPA firm of Watkins Uiberall PLLC and the oral surgery firm of Cannon-Sexton Oral Maxillofacial Surgeons is under way, said developer David C. Peck of Peck Investment Co. Watkins Uiberall's permit application (representing the building's largest space at 16,500 square feet) was for $624,431, and Cannon-Sexton's was for $424,516.

          The building is 95 percent leased, Peck said, and should be ready in less than three months.

          "We have started construction on everything," Peck said. "We'll have everyone moved in and operating around June 1."

          Other tenants include newly chartered Metropolitan Bank, which is taking the ground floor for its branch and headquarters; Linkous Construction Co. Inc. (also the building's general contractor); Cooper Cos.; Memphis Consumer Credit Association Inc.; attorney H. Mark Beanblossom; and Peck's own company.

          Peck said the demand for space was so strong he had to turn tenants away. So he's eyeing neighboring sites for Legacy Center II and hopes to have something solidified soon. "I'm trying to buy some land in the area that will allow me to duplicate it and maybe accommodate those people," Peck said.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 54 266 12,031
MORTGAGES 111 406 15,756
FORECLOSURE NOTICES 27 107 3,130
BUILDING PERMITS 0 606 28,832
BANKRUPTCIES 73 364 11,671
BUSINESS LICENSES 17 119 4,274
UTILITY CONNECTIONS 121 549 17,732
MARRIAGE LICENSES 23 104 3,668

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