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Editorial Results (free)

1. First Alliance Bank Inks 10-Year Lease to Move to Clark Tower -

Memphis-based First Alliance Bank has signed a 10-year lease to relocate its Poplar Avenue branch into the recently remodeled Clark Tower office building.


5100 Poplar Ave.
Memphis, TN 38137

2. Expeditors Signs Lease In Pilot Distribution Center -

Seattle-based logistics company Expeditors has signed 100,000-square-foot lease in the Pilot Distribution Center, located at 4221 Pilot Drive.

3. Developer Sells Pair Of Bartlett Office Buildings -

Freestanding office buildings at 6590 and 6591 Summer Ave. in Bartlett have sold for just less than $1 million.

4. Developer Sells Pair of Bartlett Office Buildings -

Freestanding office buildings at 6590 and 6591 Summer Ave. in Bartlett have sold for just less than $1 million.

5. Malco Pulls Additional Building Permit for Downtown Theater -

Malco Theatres’ Downtown movie theater continues to take shape, with the Memphis-based cinema chain seeking its second multimillion-dollar building permit for the project in recent months.


45 E. G.E. Patterson Ave.
Memphis, TN 38103
Permit Amount: $5 million

6. Malco Pulls Additional Building Permit for Downtown Theater -

45 E. G.E. Patterson Ave.

Memphis, TN 38103

Permit Amount: $5 million

Project Cost: $55 million

Application Date: July 2017

Owner: Henry Turley Co. and Community Capital

7. Cordova Shopping Center Sells for $2.3 Million -

The Woodchase Center, located at 2075 N. Germantown Parkway, has a new owner.

Dr. Alan Werner purchased the 28,484-square-foot retail building from MAM Realty Holdings of Memphis LLC for $2.3 million. Brian Califf, executive vice president of NAI Saig, represented Werner, while Melanie Myers with the Gary Myers Co. represented MAM Realty Holdings.

8. UWT Logistics Renews Lease in Pilot Center -

UWT Logistics will renew its 100,000-square-foot lease in the Pilot Distribution Center located at 4221 Pilot Drive in Southeast Memphis.

9. East Memphis Office Building Sells for $7 Million -

A 79,000-square-foot office building in East Memphis has switched hands in a multimillion-dollar deal.

Gregory Realty GP purchased the Class B building at 855 Ridge Lake Blvd. for $7 million from Israel-based investors Faropoint Ventures, doing business as Ridge Lake TN Realty Holdings LLC.

10. East Memphis Office Building Sells for $7 Million -

A 79,000-square-foot office building in East Memphis has switched hands in a multimillion-dollar deal.

Gregory Realty GP purchased the Class B building at 855 Ridge Lake Blvd. for $7 million from Israel-based investors Faropoint Ventures, doing business as Ridge Lake TN Realty Holdings LLC.

11. Cooper-Young Getting New Coffee House -

945 Cooper St.
Memphis, TN 38104

Permit Amount: $85,750

Application Date: July 2017

12. UWT Logistics Renews Lease in Pilot Center -

UWT Logistics will renew its 100,000-square-foot lease in the Pilot Distribution Center located at 4221 Pilot Drive. Hank Martin and Elliot Embry with NAI Saig Co. represented the landlord, Sealy Co., in the deal.

13. Two Bartlett Buildings Sell for $2.7M -

Two flex buildings totaling 30,796 square feet on 3.16 acres of land at 7895 Stage Hills Blvd. in Bartlett were sold for $2.7 million.

14. $18.5 Million Permit Filed for Central Station Project -

In this week’s Real Estate Recap, developers pull an $18 million permit for the Central Station overhaul, another new Downtown hotel is in the works and the new Laurelwood bookstore gets a restaurant...

15. Cordova Shopping Center Inks Tenant Wing King -

The Wolf River Commons Shopping Center, located at 420 S. Germantown Parkway, is now fully leased as a three-year, $69,459 deal will bring a Wing King into the last 1,335-square-foot bay.

16. Demand for Smaller Industrial Facilities Growing -

Even though massive deals like Niagara Bottling’s 554,000-square-foot facility and McCormick & Co.’s 615,000-square-foot operation next door in Gateway Global Logistics Center often steal the spotlight, they only paint part of the picture of North Mississippi’s industrial market.

17. North Mississippi Developers Gear Up to Land Large Clients -

With almost 3.5 million square feet of speculative space floating around in North Mississippi just between Crossroads Distribution Center and Gateway Global Logistics Center alone, it appears that there is no shortage of interest in the region from prospective clients.

18. Medical District Apartments Sell for $5.2 Million -

A medical district apartment switches hands in a multimillion-dollar deal, a Downtown developer plans an apartment complex near FedExForum, and a California investor buys a local industrial portfolio. Details in this week’s Real Estate Recap...

19. Collierville Retail Building Sells for $2.5 Million -

A Collierville retail center at 1204 W. Poplar Ave. has sold for $2.5 million.

Bryan Evans with NAI Saig Co. represented the buyer, TH Magnolia Sands, in the purchase of the 7,562-square-foot building. Patt Bullock with Gill Properties represented the seller, Gill Retail GP.

20. Collierville Retail Building Sells for $2.5 Million -

A Collierville retail center at 1204 W. Poplar Ave. has sold for $2.5 million.

Bryan Evans with NAI Saig Co. represented the buyer, TH Magnolia Sands, in the purchase of the 7,562-square-foot building. Patt Bullock with Gill Properties represented the seller, Gill Retail GP.

21. Faropoint Acquires Massive Industrial Portfolio for $33.1M -

Looking to continue its recent trend of bullish activity in the Memphis market, Faropoint Ventures has acquired a 1.1-million-square-foot industrial portfolio for $33.1 million. Details on that and more commercial real estate news in this week's Real Estate Recap...

22. Faropoint Acquires Massive Industrial Portfolio for $33.1M -

Looking to continue its recent trend of bullish activity in the Memphis market, Faropoint Ventures has acquired a 1.1 million-square-foot industrial portfolio for $33.1 million.

The seller was Greenfield Partners LLC, a Connecticut-based private equity firm. 

23. Shops of Wolflake Near Wolfchase Sells for $4.8M -

2965 N. Germantown Parkway
Bartlett, TN 38133 

Sale Amount: $5 million

Sale Date: March 31

Buyer: WFL Retail LLC

24. Shops of Wolflake Sells for $4.8 Million -

A Germantown Parkway shopping center near Wolfchase Galleria has switched hands for nearly $5 million, according to a warranty deed filed with the Shelby County Register of Deeds March 31.

Called the Shops of Wolflake, the Bartlett shopping center is located between St. Francis Hospital-Bartlett and the Wolfchase mall and is anchored by Eat Well Sushi and Grill.

25. Shops of Wolflake Near Wolfchase Sold for $4.8M -

A Germantown Parkway shopping center near Wolfchase Galleria has switched hands for nearly $5 million, according to a warranty deed filed with the Shelby County Register of Deeds March 31.

Called the Shops of Wolflake, the Bartlett shopping center is located between St. Francis Hospital-Bartlett and the Wolfchase mall and is anchored by Eat Well Sushi and Grill.

26. Hickory Hill Home Depot Site Sells for $15 Million -

3469 Riverdale Road
Memphis, TN 38115 

Sale Amount: $15.7 million

Sale Date: March 3, 2017

Buyer: Spirit Realty Capital

27. Six Acres Sold In Southeast Memphis -

A sizeable parcel of undeveloped land near a busy intersection in Southeast Memphis has switched hands for $784,000.

Bryan Evans with NAI Saig Co. represented the buyer, New Development LLC, while Andrew Phillips with Colliers International represented the seller, Forest Bend Properties LLC, in the Feb. 24 deal.

28. Mallory Alexander Inks Three-Year Industrial Lease -

Memphis-based shipping company Mallory Alexander International Logistics has signed a three-year lease for space at 4221 Pilot Drive.

29. Six Acres Sold In Southeast Memphis -

A sizeable parcel of undeveloped land near a busy intersection in Southeast Memphis has switched hands for $784,000.

Bryan Evans with NAI Saig Co. represented the buyer, New Development LLC, while Andrew Phillips with Colliers International represented the seller, Forest Bend Properties LLC, in the Feb. 24 deal.

30. Mallory Alexander Inks Three-Year Lease -

Memphis-based shipping company Mallory Alexander International Logistics has signed a three-year lease for space at 4221 Pilot Drive.

31. CRE Brokers Speculate on Future of Commercial Appeal Headquarters -

When USA Today Network executive and president of The Tennessean newspaper Laura Hollingsworth came into town the day after The Commercial Appeal announced printing operations will be moving to Jackson, Tennessee, she told the staff that while no immediate plans were in place, selling the daily paper’s iconic building was certainly a possibility down the road.

32. Temple Israel Expanding Into Crosstown Concourse -

495 N Watkins St.
Memphis, TN 38104

Tenant: Temple Israel

Details: In a letter that went out to its congregation over the weekend, Temple Israel announced plans to expand into the Crosstown Concourse this summer.
Officials said the new Crosstown campus won’t be a second synagogue, but will instead enhance the Temple’s community outreach programs.
“We believe that Temple will thrive in Crosstown and that you, the members, will be truly amazed by the collaboration in the years ahead,” Temple Israel president Elkan Scheidt said in the email. “Crosstown’s creativity, innovation, and social-action focus aligns seamlessly with Temple and Reform Judaism’s inclusive philosophy.”
Temple Israel formed a preliminary Crosstown committee, which included Cara Greenstein, Alex Shindler, Daniel Kiel, Meggan Kiel, Bruce Landau, Susanne Landau, Joanna Lipman, Josh Lipman, Liz Rudnick and Elton Parker to discuss the move before deciding to sign a lease for a 1,200-square-foot “Midtown Living Room” in the Concourse.
“By offering countless programming and Tikkun Olam opportunities, Temple Israel Crosstown will bring the celebrated Temple Israel spirit of 38120 to 38104,” the announcement went on to say. “It will also become a new member gateway for unaffiliated Downtown/Midtown Jews and newcomers to Memphis.”
“Tikkun Olam, Hebrew for “repairing this broken world,” expresses the fundamental Jewish idea that what we do to heal the hurt and help those who are suffering most – in our city and in this world – is what matters most to the one God who loves us all,” Rabbi Micah Greenstein, senior rabbi at Temple Israel, said.
The email outlined some of the programs Temple Israel could offer in Crosstown, such as partnerships with their Crosstown neighbors, lunch and learns, baby-and-me classes, Hebrew tutoring and Women of Reformed Judaism-Sisterhood knitting for the Manna House.
Temple Israel, which is located at 1376 E. Massey Road, was founded in 1854 as the first permanent Jewish house of worship in Tennessee and now serves 1,500 member families in the Memphis area. 

33. Airport-Area Property Sells for $300,000 -

A nearly 3-acre parcel with a pair of 30,000-plus-square-foot buildings near the Memphis International Airport has sold for $300,000.

The parcel, which is located at 3592 Knight Arnold Road near Kathy Cove, is home to a 35,000-square-foot warehouse and a 31,200-square-foot office building.

34. Airport-Area Property Sells for $300,000 -

A nearly 3-acre parcel with a pair of 30,000-plus-square-foot buildings near the Memphis International Airport has sold for $300,000.

The parcel, which is located at 3592 Knight Arnold Road near Kathy Cove, is home to a 35,000-square-foot warehouse and a 31,200-square-foot office building.

35. Ernest Strickland Takes On Workforce Role at Chamber -

The Greater Memphis Chamber has promoted Ernest Strickland to senior vice president of workforce development, a newly created role. Strickland, who has worked at the chamber since 2006, previously served as vice president of international and business partnerships.
In his new position, he is responsible for creating and implementing the chamber’s workforce development strategy. His department serves as a liaison, working directly with existing and prospective businesses to ensure they are able to attract and retain a qualified workforce today and in the future.

36. Dave & Buster’s to Open Cordova Location -

7930 Germantown Parkway
Memphis, TN 38133 

Landlord: Brixmor Property Group 

Tenant: Dave & Buster’s 

37. Former Collierville Church Sells for $500,000 -

The building that formerly housed Orchard Fellowship Church, located at 140 S. Main St. in Collierville, has been purchased by Chris Dickens and Associates LLC for $500,000.

38. Midtown Retail Property Sells for $5 Million -

1625 Poplar Avenue

Memphis, TN 38104 

Sale Amount: $5 million

Sale Date: Dec. 21, 2016

39. Large Deals, Office Construction Among Memphis' Commercial Real Estate Trends -

Coming off of a strong year in 2015, the commercial real estate market in the Memphis metropolitan area continued to do well in 2016.

Larry Jensen, president and CEO of Cushman & Wakefield/Commercial Advisors, said his company was tracking approximately 6 million square feet of net absorption in the industrial market headed into the last week of 2016, as compared to 8.4 million in 2015.

40. Developer Buys Former Merle Norman Warehouse -

3670 S. Perkins Road

Memphis, TN 38118

Sale Amount: $1.3 million

Sale Date: December 2016

Buyer: Farnsworth Investment Co.

41. American Car Care Signs 9-Year Lease at Lenox Park -

American Car Care has signed a lease with Lenox Park C-F Owner LLC for 17,427 square feet in Lenox Park Building E, located at 6775 Lenox Center Court.

42. Developer Buys Former Merle Norman Warehouse -

Merle Norman Cosmetics Inc. has sold its former Memphis distribution center to local real estate developer Thomas Farnsworth Jr. for $1.3 million.

43. Local Developer Buys Former Merle Norman Warehouse -

Merle Norman Cosmetics Inc. has sold its former Memphis distribution center to local real estate developer Thomas Farnsworth Jr. for $1.3 million.

44. Village Shops of Forest Hill Sold for $37.1 Million -

9155 U.S. Highway 72

Germantown, TN 38138

Sale Amount: $37.1 million 

Sale Date: December 2016

45. Short-Term Leases Help Retail Industry Navigate Busy Shopping Season -

With the holiday shopping season already in full swing, some companies in need of additional space to help alleviate their seasonal storage requirements are finding willing landlords as partners.

Because holiday retail sales are expected to significantly rise above the 10-year average and increase 3.6 percent to $655.8 billion nationally, according to the National Retail Federation, it’s no surprise local companies are looking to work out year-end deals with landlords trying to fill leftover space.

46. Gill Seeks $25 Million Permit For New MAA Headquarters -

6815 U.S. 72

Germantown, TN 38138

Permit Amount: $25 million

Future Tenant: MAA

47. Last Word: The Long Count, Bigger Than Boutiques and God's View of the NBA -

It's Veterans Day with the annual Downtown parade starting at 10 a.m. Friday and a wreath-laying ceremony an hour later at the Doughboy Statue in Overton Park.

The long local vote count since Tuesday is still underway as Thursday becomes Friday. It should wrap up Friday with the provisional ballot count completed.

48. First Tennessee Consolidating Real Estate -

First Tennessee Bank is renovating and restructuring three of its Memphis properties in a project totaling upwards of $62 million.

49. Pinnacle Financial to Anchor Boyle’s Building -

Pinnacle Financial Partners will be an anchor tenant in Boyle Investment Co.’s long-awaited office building in Ridgeway Center.

50. Pinnacle Financial Anchor Tenant in Boyle's New Office Building -

Pinnacle Financial Partners will be an anchor tenant in Boyle Investment Co.’s long-awaited office building in Ridgeway Center.

51. Bank Building Set To Become Boutique Hotel -

158 Madison Ave.
Memphis, TN 38103

Sale Amount: $1.1 million

Sale Date: June 13, 2016

Buyer: Wessman Holdings

52. Boutique Hotel Planned For Downtown Bank Building -

The former Leader Federal headquarters will be converted into a boutique hotel.

Wessman Holdings, an out-of-town group, purchased the property at 158 Madison Ave. from 158 Madison LLC for $1.1 million, according to a June 13 warranty deed. The five-floor building was built in 1961 and bears more than 62,000 square feet.

53. Memphis MSA Industrial Sector Has A Strong First Quarter After Record 2015 -

The Memphis MSA industrial sector had a strong first quarter after a record-breaking year in 2015.

Last year saw a record absorption rate of 8.4 million square feet, which is 2 million square feet higher than 2006’s pre-recession levels.

54. Bridging a Divide -

The Mid-South is united by more than the Mississippi River, but that’s what it took to get the region’s mayors in the same room.

In the aftermath of the 2011 Mississippi River flood, damage stretched from Millington’s naval base to Memphis’ Beale Street. Leaders of the affected municipalities had to come together to apply for FEMA grants and plot their way out of devastation.

55. Moving Dirt -

The Memphis development community is looking inward and upward to increase density in the urban core. New construction is happening across all four commercial real estate sectors, with long-anticipated projects like Trader Joe’s and the redevelopment of Central Station finally coming to fruition. Construction and operating costs continue to be a challenge as new projects hit the top of their class to command higher rents.

56. Airport-Area Industrial Sells for $1.2 Million -

1525 Three Place, 3365-3378 One Place
Memphis, TN 38116

Sale Amount: $1.2 million

Buyer: Gregory Realty

Seller: One Place Associates

57. Airport-Area Industrial Sells for $1.2 Million -

A local investor has purchased four industrial buildings near Memphis International Airport. Gregory Realty bought 1525 Three Place and 3365-3378 One Place, totaling 85,631 square feet, from One Place Associates for $1.2 million.

58. Work Begins On Brewery Development -

502 Tennessee St.
Memphis, TN 38103

Permit Amount: $4.5 million

Application Date: Feb. 18, 2016

Tenant: Brewery Master Tenant LLC

Architect: LRK Architects

Contractor: Montgomery Martin Contractors

59. Israeli Firm Purchases Industrial Park for $13M -

Faropoint Investments, an Israel-based real estate firm, has purchased the Outland Business Center for $13 million, now its largest holding in the area.

On Feb. 11, Faropoint closed on the Southeast Memphis park, which includes five industrial buildings totaling more than 400,000 square feet at Outland Center Drive and Burbank Road.

60. Orleans at Walnut Grove Sells for $29.2 Million -

317 Royal Chartres Square E.
Cordova, TN 38018

Sale Amount: $29.2 million

Sale Date: Feb. 4, 2016

Buyer: PC Orleans LLC

61. Israeli-Based Firm Purchases Industrial Park for $13M -

Faropoint Investments, an Israel-based real estate firm, has purchased the Outland Business Center for $13 million, now its largest holding in the area.

On Feb. 11, Faropoint closed on the Southeast Memphis park, which includes five industrial buildings totaling more than 400,000 square feet at Outland Center Drive and Burbank Road.

62. New Numbers: Memphis Industrial Market Breaks Records -

The Memphis industrial sector had a banner year in 2015. According to year-end data from Cushman & Wakefield/Commercial Advisors, last year’s absorption level came in at 8.4 million square feet, 2 million square feet higher than 2006’s pre-recession levels and a record for the market.

63. Wheel Distributor WSD Comes to Memphis -

Wheel and tire distributor WSD Inc. has signed a 25,386-square-foot lease in the Outland Business Park. The lease at 4995 Outland Center Drive, suite 107, commenced on Jan. 1.

64. Belz Sells Linden Camilla Towers for $14.4 Million -

256 S. Camilla Street
Memphis, TN 38104

Sale Amount: $14.4 million

Sale Date: Dec. 6, 2015

65. International Real Estate Firms Find Purchase Potential in Memphis -

International investors and developers are increasingly looking to Memphis because the market is stable and the returns are high, according to a variety of real estate professionals doing business locally.

66. Wheel Distributor WSD Comes to Memphis -

Wheel and tire distributor WSD Inc. has signed a 25,386-square-foot lease in the Outland Business Park. The lease at 4995 Outland Center Drive, suite 107, commenced on Jan. 1.

67. Collierville Assisted Living Facility Sells for $17 Million -

601 Wolf River Blvd.
Collierville, TN 38017

Sale Amount: $17 million

Sale Date: Dec. 29, 2015

68. Pilot Distribution Center Sells for $11.9 Million -

The 605,000-square-foot Pilot Distribution Center in Southeast Memphis has sold for $11.9 million.

Sealy Strategic Equity Partners LP, working as Sealy Pilot LLC, purchased the industrial warehouse at 4221 Pilot Drive from Pilot Distribution Center Inc. on Dec. 22, according to a warranty deed.

69. Pilot Distribution Center Sells for $11.9 Million -

The 605,000-square-foot Pilot Distribution Center in Southeast Memphis has sold for $11.9 million.

Sealy Strategic Equity Partners LP, working as Sealy Pilot LLC, purchased the industrial warehouse at 4221 Pilot Drive from Pilot Distribution Center Inc. on Dec. 22, according to a warranty deed.

70. Memphis, North Mississippi Competition Raises Questions -

When leaders of the city-county Economic Development Growth Engine didn’t grant developers a $24 million tax abatement to build an industrial park on the site of the former Mall of Memphis, some saw it as more kindling for competition between the industrial markets of North Mississippi and Southeast Shelby County.

71. Trinity Ridge Business Center Sells for $16M -

7730, 7740, 7750, 7760, 7866 Trinity Road
Cordova, TN 38018
Sale Amount: $16 million

72. Tanger Southaven Expected To Drive More DeSoto County Retail -

At its grand opening Nov. 20, Tanger Outlets Southaven mall will finally see light after years of development.

The project, which initially was developed by Memphis-based Poag Shopping Centers and shelved during the recession, was revived thanks to a relationship with national group Tanger Factory Outlet Centers Inc. and several public partnerships with DeSoto County and the state of Mississippi.

73. Toshiba Warehouse Sold For $7.7 Million -

Toshiba America Inc.’s Hickory Hill home has changed hands for $7.7 million.

Delaware-based Net Magan Property Owner One LP sold the 207,472-square-foot industrial property at 5400 Distriplex Farms Drive to national real estate investment group Sealy & Company.

74. Toshiba Warehouse Sold For $7.7 Million -

Toshiba America Inc.’s Hickory Hill home has changed hands for $7.7 million.

Delaware-based Net Magan Property Owner One LP sold the 207,472-square-foot industrial property at 5400 Distriplex Farms Drive to national real estate investment group Sealy & Company.

75. Toshiba Warehouse Sold For $7.7 Million -

Toshiba America Inc.’s Hickory Hill home has changed hands for $7.7 million.

Delaware-based Net Magan Property Owner One LP sold the 207,472-square-foot industrial property at 5400 Distriplex Farms Drive to national real estate investment group Sealy & Company.

76. Belz Sells Champion Hills Office Building for $7.8M -

3725 Champion Hills Drive
Memphis, TN 38125
Sale Amount: $7.8 million

Sale Date: Oct. 8, 2015
Buyer: Champion Hills Realty Holdings LLC
Seller: Belz Investco GP
Loan Amount: $5.5 million
Loan Date: Oct. 5, 2015
Lender: C-III Commercial Mortgage LLC
Details: Belz Enterprises made another big real estate deal on the tail of its recent announcement to redevelop the corner of McLean Boulevard and Union Avenue into a mixed-use development.

77. Belz Sells Office Building Near Windyke for $7.8M -

Belz Enterprises made another big real estate deal on the tail of its recent announcement to redevelop the corner of McLean Boulevard and Union Avenue into a mixed-use development.

In an Oct. 8 warranty deed, Belz Investco GP sold the four-story office building at 3725 Champion Hills Drive for $7.8 million to Faropoint Ventures LLC acting as Champion Hills Realty Holdings LLC.

78. Belz Sells Office Building Near Windyke for $7.8 Million -

Belz Enterprises made another big real estate deal on the tail of its recent announcement to redevelop the corner of McLean Boulevard and Union Avenue into a mixed-use development.

In an Oct. 8 warranty deed, Belz Investco GP sold the four-story office building at 3725 Champion Hills Drive for $7.8 million to Faropoint Ventures LLC acting as Champion Hills Realty Holdings LLC.

79. NAI Saig Leases Last Space at Nonconnah Corporate -

Nonconnah Corporate Center’s industrial space is now 100 percent leased thanks to a 26,865-square-foot deal.

NAI Saig Co., which has handled industrial leasing at the property since July 2011, said the new deal with Mar Cor Purification Inc. pushed the 350,000-square-foot park to full occupancy.

80. NAI Saig Leases Last Space At Nonconnah Corporate -

Nonconnah Corporate Center’s industrial space is now 100 percent leased thanks to a 26,865-square-foot deal.

NAI Saig Co., which has handled industrial leasing at the property since July 2011, said the new deal with Mar Cor Purification Inc. pushed the 350,000-square-foot park to full occupancy.

81. Freelance, Remote Work Part of New Office Reality -

In its 2015 list of the top 100 companies to watch for remote jobs, FlexJobs looked at the job-posting histories of more than 30,000 companies last year. The report, released in January, revealed a 26 percent increase in the number of remote jobs posted, hinting that the option to work from home is becoming more widely accepted in the broader economy.

82. Warehouse At Perimeter Point Sells for $775,000 -

A Perimeter Point industrial building has been sold for $775,000.

Missouri-based Martabra Real Estate LLC acquired the flex warehouse building at 5055 Covington Way, just off Covington Pike south of Elmore Road, from CP Perimeter Point LLC, an affiliate of California-based Coastal Partners LLC.

83. Biomedical Company Expanding in Southeast Memphis -

Cognate Bioservices Inc. is launching a 32,500-square-foot expansion at its manufacturing facility at 4600 E. Shelby Drive in southeast Memphis near Lamar Avenue.

84. Methodist Healthcare Buys Office Building From Belz -

5865 Shelby Oaks Circle
Memphis, TN 38134
Sale Amount: $4 million

Sale Date: June 30, 2015
Buyer: Methodist Le Bonheur Healthcare
Seller: Belz Investco GP and Bico Associates GP
Details: Belz Enterprises and a partner have sold a Memphis office building to Methodist Le Bonheur Healthcare for $4 million.

85. Ikea Seeks $16 Million Permit For First Memphis Store -

Future Ikea Store
On 42 Acres In Cordova
Permit Cost: $16 million

Application Date: July 2015
Owner/Tenant: Ikea
Details: Ikea is moving forward with its massive retail store in Cordova.

86. Dog Daycare Bringing New Life to East Memphis Retail Center -

A new doggy daycare and camp is coming to East Memphis.

Becky and Tim Simcoe have leased 8,875 square feet at the Balmoral Shopping Center at Quince Road and Ridgeway Road in East Memphis to open a Camp Bow Wow franchise.

87. Conn’s Acquires Site for Third Memphis-Area Location -

A Texas-based retailer has acquired a fully leased shopping center in Southaven and will build a new store on an outparcel of the existing retail center.

Conn’s Appliances Inc. acquired the Stateline Square Shopping Center at 550 Stateline Road in Southaven for $5 million from Brixmor Commercial Real Estate, which was doing business as NPK Southaven LLC.

88. Stein World Finds New Home -

Stein World has found a new home. The furniture distributor, which played a pivotal role in Cummins Inc.’s decision to expand locally, has inked a lease for 330,870 square feet at 5321 Shelby Drive.

89. Men’s Salon Opening in Germantown -

Germantown is getting an upscale styling salon and grooming service made just for men.

Owners Dara Vongphrachanh and Donald R. Johnson II are opening Baron’s Man Cave in 2,250 square feet in suite 102 at the Poplar Collection, located at 9289 Poplar Ave. in Germantown.

90. Shops at Kirby Gate Sells for $3.4 Million -

A California-based investor has purchased the Shops at Kirby Gate in East Memphis for $3.4 million.

An affiliate of Los Angeles-based Westwood Financial Corp. acquired the shopping center at the northwest corner of Quince Road and Kirby Parkway from Shops at Kirby Gate LLC, according to public records.

91. Germantown Parkway Parcels Sell for $3.4 Million -

789 and 725 N. Germantown Parkway
Memphis, TN 38018
Sale Amount: $3.4 million

92. Investors Buy Midtown Retail Buildings for $3.4 Million -

California investors have purchased two retail buildings totaling 60,000 square feet in Midtown for $3.4 million.

The retail buildings, formerly owned by Atlanta-based Home Depot, are located at 1635 and 1625 Poplar Ave., adjacent to the Home Depot store at Poplar and Angelus Street. Home Depot is maintaining its store at the shopping center at Poplar and North Avalon St., which the Atlanta-based home improvement store bought several years ago.

93. Loeb Sees Activity at Executive Square -

Loeb Properties has picked up a new lease and a lease renewal inside the Executive Square development in East Memphis.

BoCo Health Services signed a new lease for 1,007 square feet in Suite 103 at 5575 Poplar Ave. In addition, Sunshine Corp. renewed its 1,075-square foot lease in Suite 420.

94. Workforce Group Elects Downtown for Office -

The Greater Memphis Alliance for a Competitive Workforce has found a headquarters location Downtown, leasing 2,967 square feet at the One Commerce Square office tower.

The alliance aims to produce a united regional workforce development system by generating extensive workforce data, creating a pipeline of ready-to-work employees, crafting career roadmaps for workers and students and helping meet the near-term employment needs of local employers.

95. Overton Square Highlights Commercial Real Estate Positives -

The old owners of Overton Square had a plan to remove existing local tenants and retailers and replace them with national retailers.

They succeeded in emptying Overton Square of tenants, but couldn’t attract new national retailers, leaving what was left to twist in the wind.

96. Midtown Success Highlights Commercial Real Estate Growth -

Loeb Properties Inc. plans to build on the momentum it has created at Overton Square while turning its attention to other parts of Midtown.

97. Battle Rages On Between Regional Foes -

In October, Old Dominion Freight Line Inc. opened the door, or 267 doors to be more precise, on its new $30 million service center in Memphis.

98. Mixed-Use Project Looms for Former Lakeland Mall -

Get used to the name Lake District. You’ll probably be hearing more about it in the near future. Lake District is the new name for the revamped project being planned at the old Lakeland Factory Outlet Mall site.

99. Experts to Provide Commercial Real Estate Outlook at Seminar -

Yes, Overton Square is booming, but that may not have been the case without Memphis-based Loeb Properties Inc.

100. Gestalt Schools Signs Lease in Hickory Hill -

A charter school operator has inked a lease for space on Winchester Road in Hickory Hill.

Gestalt Community Schools has leased 57,000 square feet of space at 5360 Winchester Road inside the Mendenhall Square shopping center.