VOL. 123 | NO. 49 | Tuesday, March 11, 2008
Memphis Real Estate Recap
Legacy Center Buildout Closer to Completion
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.