VOL. 129 | NO. 12 | Friday, January 17, 2014
KBM Group Growing at Clark Tower
A digital marketing agency is expanding at Clark Tower in East Memphis.
KBM Group, which is part of Wunderman/WPP, one of the world’s largest marketers, is expanding at Clark Tower less than a year after moving into the East Memphis office building, 5100 Poplar Ave.
KBM Group, which focuses on the financial services and insurance industries, has added 15 employees over the last year, pushing its total employment to more than 30 employees.
“Much of our growth is due to the need of our clients to engage directly with consumers,” said Howard Graham, senior vice president of digital services for KBM Group. “The changes in the Affordable Care Act and the migration of consumers to digital channels have helped fuel our growth.”
KBM Group moved into 3,894 square feet at Clark Tower last July. This month the company expanded by 1,389 square feet, bringing the company’s total to 5,283 square feet.
“The Clark Tower is an excellent location for us due to its central location, outstanding views of Memphis and easy walking access to multiple restaurants and the new Whole Foods,” Graham said.
Phil Dagastino Jr. and Anna Tranum of Cushman & Wakefield/Commercial Advisors represented the landlord, In-Rel Properties. Michael Morgan of CB Richard Ellis Memphis represented KBM Group.
Recent leasing activity at Clark Tower includes Professional Capital Management of Memphis and Swain Wealth Partners at Raymond James renewing leases and CoWorx Staffing Service signing a new lease.
In other leasing news, Majors Treasures has signed a new lease at the Trinity Creek shopping center.
Majors Treasures, a retail and online store that offers specialty gifts, home décor products and outdoor living products like fountains, benches and statues, has leased 1,200 square feet at Trinity Creek.
Aaron Petree represented landlord Loeb Properties.
In other news, a warehouse building inside Cordova Industrial Park has changed hands. The 16,000-square-foot building at 1228 Midas Cove in Cordova Industrial Park was sold for $535,000.
Khalil Sarwar acquired the property from JGE Partners. Brian Califf with NAI Saig Co. negotiated the sale.
Barnes Crossing Plaza, a Tupelo, Miss.-based community retail center containing 157,700 square feet of space, has been sold for an undisclosed price.
CPP Barnes Crossing SPE LLC, an affiliate of Columbus Pacific Properties, a national real estate investment company based in Santa Monica, Calif., acquired Barnes Crossing Plaza from Sun Life Assurance Co. of Canada.
Johnny Lamberson and Terry Radford of CB Richard Ellis Memphis represented the seller in the transaction. CBRE Memphis has managed and leased the property since 2008, a role that will continue under the new ownership.
Built in 1996, the 96.8 percent occupied Barnes Crossing Plaza is anchored by Hobby Lobby, TJ Maxx, OfficeMax and Burkes Outlet.