VOL. 111 | NO. 7 | Friday, January 10, 1997
By CAMILLE H
Shelter Insurance builds
office facility in Cordova
JAN. 10, 1997 -- A Columbia, Mo.-based insurance
company has purchased 3 acres of property in Appling Corporate
Park to build a 10,000-square-foot office.
Shelter Mutual Insurance Co. has been in
the Memphis market since 1960 and has operated out of a rented
office at 6055 Primacy Parkway for several years.
The company purchased the property at 1921
Appling Road from Dexter Development Partners on Dec. 31 for $438,746,
according to a warranty deed filed in the Shelby County Register's
Office. John Reed of Edwards Capital Management was the broker
in the transactions. The construction costs were valued at $1.26
million, according to a building permit filed in the Shelby County
Construction Code Enforcement Office. Jameson Gibson Construction
Co. is the general contractor on the project, and the Crump Firm
is the architect.
"For a number of years we have wanted
to build a building in Memphis," said Keith Curd, property
manager for Shelter. "We had a long-range plan for the entire
company, and over the past six years, we have built nine new buildings
throughout our company operating area. It is just Memphis' turn."
Communications director Maggie Wood said,
"The move is to have the branch offices migrate into company-owned
offices, and the Memphis branch is the only one with actual construction
in the works right now."
Shelter Insurance operates in 13 states
in the Midwest. In Tennessee, the company has offices in Memphis
and Nashville. The Memphis office employs 14 people.
Company officials expect construction to
be complete in August. Curd said the company may be adding staff
members after the move.
"The building we are building is larger
than what we presently need and the purpose of that is for growth,"
Curd said. "I would assume that we will probably be growing
as we move into the building."
Curd said the company chose the Appling
area because of the quality of the neighbors.
"From what we've seen with the growth
pattern in Memphis and what we've seen with the neighbors around
us, we were very intent on being in that area," he said.
"Plus, the potential for a lot growth near the new mall was
Reed said the Appling Corporate Park area
is appealing to companies because of its landscape and the convenience
to I-40. He added that companies are also drawn to the park because
of the other big names moving there. "There have been a number
of large corporate offices built in that vicinity, namely Allenberg
Cotton, Union Planters, Hohenberg Cotton, BellSouth and ICI Acrylics
it's also a very convenient and very pretty layout,"
Shelter Insurance is a mutual, multiple-lines
company with approximately 1,200 licensed agents and 1,600 employees.
Shelter Mutual Insurance Co., a division of Shelter Insurance,
was founded in 1946 as MFA Mutual Insurance by the Missouri Farmers
Association. The company changed its name to Shelter in 1981.
By CAMILLE H. GAMBLE
The Daily News