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VOL. 129 | NO. 115 | Friday, June 13, 2014

Amos Maki

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

Renovation, Expansion Underway at Saddle Creek

By Amos Maki

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The Shops at Saddle Creek has picked up a new tenant as the lifestyle center undergoes a renovation.

Marmi Shoes has leased 1,395 square feet between Vera Bradley and Madewell at Saddle Creek. St. Louis-based Marmi Shoes offers a wide variety of women’s shoe styles and sizes with a European influence. The Saddle Creek location, the first in the Memphis area and the second in Tennessee, is expected to open in the fall.

Meanwhile, Texas-based Trademark Property Co. has launched a multimillion-dollar renovation and expansion of Saddle Creek.

Trademark will expand the portion of the 148,000-square-foot lifestyle center on the southwest side of Poplar Avenue and West Street in Germantown. Demolition began on 20,000 square feet of existing space before building 40,000 square feet of new space. The project also includes remodeled building exteriors for Saddle Creek South and West, facade updates for Saddle Creek North and upgraded plazas, lighting, signage and landscaping.

“The objective is to enhance our customer shopping experience by making Saddle Creek South and West more walkable and providing a more cohesive building as opposed to the two previous buildings,” said Saddle Creek general manager Kenneth Taylor.

Taylor said the renovation plan should also help attract new tenants to Saddle Creek.

“There’s been a lot of tenant interest on a national and local level now that demolition has begun,” Taylor said.

In other news, Sugar Plum Consignments, a popular women’s consignment boutique that provides new, gently used and vintage brand-name merchandise, has renewed its lease at Primacy Place retail center.

Sugar Plum Consignment renewed its 3,040-square-foot lease at 6100 Primacy Place 107-107, in Primacy Place. Laura Warren of Loeb Properties represented the landlord.

Primacy Place is now at 91 percent occupancy.

“I believe that its success is due to a sustainable tenant mix with a wide variety of destination tenants – a specialty tennis shop, a bridal shop, a hair and nail salon, tax preparers, a mix of restaurants and more,” Warren said.

Financial adviser Edward Jones has opened a new office in Olive Branch. The Edward Jones office is beginning its five-year lease at 6253 Goodman Road E., Suite A, this month.

Lender’s Investment Group LLC is the landlord and Edward Jones is a corporate lease. Wilson McCloy and Patrick Surratt of Crye-Leike Commercial handled both sides of the transaction.

A popular Mexican restaurant is extending its stay on Poplar Avenue.

Los Compadres Mexican Restaurant has renewed its 3,200-square-foot lease at 3295 Poplar in the Palisade Place shopping center developed by Loeb Properties.

Laura Warren with Loeb Properties represented the landlord.

The 14,480-square-foot Palisade Place retail center, at Poplar Avenue and Holmes Road, was built in 2005, and Los Compadres moved there in 2009. Other tenants at Palisade Place include Independent Bank, Baptist Minor Medical Center and FedEx Office.

A company that supplies industrial manufactures with automation and control services has leased space at Shelby Oaks Industrial Park.

Advance Industry Support has leased 10,000 square feet inside Shelby Oaks Industrial Park at 6400 Shelby View Drive, Suite 110.

James Rainer and Greg deWitt of Newmark Grubb Memphis represented Advance Industry Support in the transaction.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 65 366 17,721
MORTGAGES 70 417 23,068
FORECLOSURE NOTICES 15 91 4,519
BUILDING PERMITS 210 932 42,157
BANKRUPTCIES 62 299 16,691
BUSINESS LICENSES 19 80 5,781
UTILITY CONNECTIONS 49 305 25,174
MARRIAGE LICENSES 16 96 5,381

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