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VOL. 111 | NO. 151 | Friday, August 15, 1997

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Dryve Cleaners expands with two new stores Dryve Cleaners expands with two new stores Palmer Brothers plans second phase of Cordova Collections on Germantown Parkway By CAMILLE H. GAMBLE The Daily News Memphis-based Dryve Cleaners has started construction on a new drop-off store on Germantown Extended and will open a store on Dexter Road in an existing building in the next 60 days. Menkel Mallard Properties Inc. is the general contractor on the new 1,200-square-foot, drop-off store Dryve is building on Germantown Extended. ìWe wonít actually be cleaning clothes on the site,î said Rick Gunther, chief financial officer for Dryve, a privately held Memphis company which owns nine Dryve Cleaners and 29 other cleaners in the Memphis area. Construction started on the building Aug. 1, and completion is expected in November, Gunther said. The value of the construction project is $145,000, according to a building permit issued by the Shelby County Construction Code Enforcement Office. Gunther said the company will put a Cordova Classic Cleaners store in a building at 8000 Dexter Road in Cordova. The building was formerly occupied by Tuckerís Restaurant and Rock-A-Piggies Barbecue. Dryve will renovate the building and should open in 30 to 60 days, Gunther said. ìWe think there are a lot of growth opportunities out there. Thereís a lot of housing being built out there, and Dexter Road leads to a lot of neighborhoods,î Gunther said. ìSo we think people will have to pass by that location on their way to work.î Palmer Brothers Inc. owns the building at 8000 Dexter. Marvin Palmer said John Tucker, the owner of Rock-A-Piggies, built the building on land owned by Palmer Brothers. Palmer Brothers bought the building from Tucker a year ago. Palmer, who owns and leases Cordova Collections shopping center adjacent to the building, said the restaurants were not successful at the Dexter location mainly because there was no sit-down space. ìThe double-drive-through concept just didnít go over there, particularly for barbecue,î Palmer said. Dryve Cleaners signed a five-year lease with Palmer Brothers. Palmer said the Dryve Cleaners eventually will be an outparcel to the second phase of Cordova Collections, which will be built on 10 acres behind the property. He said construction will start on the 100,000-square-foot center as soon as it is 60 percent pre-leased. Gunther said Dryve has no immediate plans to open other stores. ìAlthough, we are always looking,î he said. ìWe do have a couple of other properties under consideration right now.î The first Dryve Cleaners opened in Memphis in August 1987 at Poplar Avenue and White Station Road. Gunther said the companyís biggest growth has been mainly during the past six to seven years. He said 50 percent of the growth is a result of acquiring other cleaners and 50 percent has been from building new stores under the company name. Dryve Cleaners employees approximately 280 people company-wide.
PROPERTY SALES 57 94 2,713
MORTGAGES 16 37 1,820
BUILDING PERMITS 303 621 6,322
BANKRUPTCIES 138 138 1,115