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VOL. 128 | NO. 155 | Friday, August 09, 2013

Amos Maki

SEND COMMERCIAL LEASE ANNOUNCEMENTS to Amos Maki, who can be reached at 603-4025 or amos@memphisdailynews.com.

Boyle Sells More Lots at Spring Creek Ranch

By Amos Maki

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After an initial offering went so well earlier this year, a group of area homebuilders has acquired 17 more lots at The Village at Spring Creek Ranch from Boyle Investment Co.

The lots were purchased for $1.5 million and follow a February sale of 10 lots at The Village for $750,000.

The builders are: Mike Murphy, Mike Murphy Builders; Marty Smith, Artisan Custom Homes; Mark McGuire and John Worley, Celtic Manor Homes; Chris Dickens, Dickens & Associates; Ryan Anderson, RKA Investments; and Scott Klazmer and Ron Sklar, Klazmer/Sklar Homes.

Spring Creek is Boyle’s 820-acre master planned community at Raleigh LaGrange and Collierville Arlington roads. The community, with its tailored streets without sidewalks, gutters or curbs, is just south of the Spring Creek Ranch golf course and is within Collierville’s annexation reserve area.

“We’re a great rural community near a great golf community,” said Boyle vice president Gary Thompson. “I don’t think there’s anything in the Mid-South like Spring Creek Ranch.”

Boyle was originally hired by the Meyer family, the owners of Spring Creek Ranch golf course, to develop Spring Creek Ranch. Last November, Boyle bought the remaining 340 lots in the high-end development from the Meyer family for $4.3 million, becoming the owner and developer of the community.

Spring Creek Ranch includes diverse price points.

The homes inside The Village will sell for around $385,000 to $425,000. In addition to The Village, Spring Creek Ranch features The Manor, where homes sell from the mid-$400,000s to $550,000, and the Grand Manor, where houses sell from $600,000 to more than $1 million.

The Spring Creek Ranch community includes a swim club and walking trails and is located just minutes from all the services – public and private – found in Collierville.

“We have all these facilities in what feels like a resort,” Thompson said.

The Oak Court Office Building has seen two recent lease signings.

Sunstar Insurance Group LLC has signed a new lease for 2,266 square feet at the four-story East Memphis office building adjacent to Oak Court Mall.

Michael Morgan of CB Richard Ellis Memphis represented Sunstar. Bentley Pembroke of Commercial Advisors/Cushman & Wakefield represented the landlord.

And Memphis New Leaders signed a new lease for 3,117 square feet at Oak Court Office Building.

New Leaders is a national nonprofit that develops school leaders and leadership policies. New Leaders began working with Memphis City Schools in 2004 to provide leaders for the school district.

Morgan represented Memphis New Leaders, and Pembroke represented the landlord.

Bolanos Transportation has acquired space at the Southwide service center building. Founded in 2009, Bolanos is leasing 9,600 square feet at Southwide, on Lamar Avenue near Democrat Road.

Southwide, which is owned by CWCapital, has seen a flurry of leasing activity.

Keystone Automotive Operations Inc. renewed its lease for 34,470 square feet at the 205,260-square-foot building. Pennsylvania-based Keystone Automotive is a leading distributor and marketer of aftermarket automotive equipment and accessories in North America, and its Memphis location is one of 19 inventory-stocking cross-dock facilities.

Building Plastics Inc. also renewed its 23,850-square-foot lease at Southwide. Founded in Memphis in 1963, Building Plastics is a wholesale distributor of residential and commercial floor covering, specializing in ceramic tile, counter surfaces and supplies, wood and laminate, and carpet and cushion supplies.

The Memphis-based company’s wholesale floor covering and decorative surfacing distribution operations stretch across 10 states and include 765,000 square feet of warehouse facilities.

Conner Walker and Mark Jenkins of Commercial Advisors/Cushman & Wakefield represented the landlord.

Vanelli’s Deli in Germantown recently renewed its lease. The deli occupies 1,500 square feet at Farmington Centre, 7873 Farmington Road in Germantown.

Vanelli’s Deli offers a wide range of Italian meals, including specialty sandwiches, pasta, salads and side dishes such as Italian spinach and pasta salad. Diners can also take advantage of Vanelli’s Deli’s wide range of offerings to build their own sandwich.

In true deli style, Vanelli’s also sells meats, cheeses, olives, Italian dressing sauces and more to take home. Vanelli’s Deli also offers catering.

Laura Warren represented the landlord, Loeb Properties Inc. Charles Vanelli is the tenant.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 13,330
MORTGAGES 0 0 17,349
FORECLOSURE NOTICES 0 0 3,391
BUILDING PERMITS 0 0 30,930
BANKRUPTCIES 0 0 12,695
BUSINESS LICENSES 0 0 4,597
UTILITY CONNECTIONS 0 0 19,457
MARRIAGE LICENSES 0 0 4,060

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