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VOL. 110 | NO. 160 | Monday, August 19, 1996

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Strip retail center started Strip retail center started on Germantown Parkway By CAMILLE H. GAMBLE The Daily News A local developer has started construction on a 2,800-square-foot strip shopping center at the corner of Germantown Parkway and Club Center Drive. Jameson Grinder Haizlip is the general contractor on the project, which should be complete and open by Nov. 15. Don Lawrence is developing the center on 3.2 acres of property he purchased in 1992 from O.W. Winsett for approximately $750,000. Lawrence said "conservatism" was the reason he held onto the property so long before developing. "I didnt know exactly what I wanted to do with the property when I bought it," Lawrence said. "Then I saw the need for that type of space, not just on Germantown Parkway, but for the Club Center Drive area residents." The total cost of the project is about $2.3 million, according to Mark Johnson of Mark Johnson Realty, who is leasing and managing the property. The center is partially leased, Johnson said. Signed tenants include Tuesday Morning, 5,000 square feet; CiCis Pizza, 4,000 square feet; and Signs Now, 1,400 square feet. Dallas-based Tuesday Morning currently operates two stores in the Memphis market at 2867 Poplar Ave. and at Kirby and Quince. The Kirby and Quince store recently was moved from 3197 Players Club Parkway. "There is no retail at Southwind, it is all medical," said Tuesday Morning area manager Wanda Wilbanks. "We couldnt do the volume of business there we wanted to do. There was also a parking problem." Wilbanks said the new store on Germantown Parkway will not open until January. CiCis Pizza, a Dallas-based chain, currently has two franchise stores in Memphis at 3637 Hickory Hill Road and 6600 Stage Road. Lawrence said CiCis is a dine-in, family-type buffet restaurant. Johnson said there is approximately 18,000 square feet of space left to lease in the new center. He said the space is broken up into 1,400-square-foot bays, but can be combined to form larger bays. The property leases for $15 per square foot for Germantown Parkway frontage and $13 per square foot for Club Center Drive frontage. "The market for retailers is good in Cordova," Johnson said. "We are the only building in the area that will have availability in the fall. It is a superior location, with Germantown Parkway visibility." Lawrence said other businesses going up near the property should draw clients to the center. "There is a new health center being built in that same area, a day care center, a skating rink and a planned bowling alley," he said. "Its a unique little area."
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 74 74 17,458
MORTGAGES 93 93 20,128
FORECLOSURE NOTICES 9 9 2,654
BUILDING PERMITS 126 126 36,072
BANKRUPTCIES 63 63 11,227
BUSINESS LICENSES 32 32 5,741
UTILITY CONNECTIONS 0 0 6,715
MARRIAGE LICENSES 51 51 3,967