VOL. 114 | NO. 85 | Tuesday, May 2, 2000
Trammell Crow Co
Trammell Crow Co. represented three tenants in recent office lease transactions.
Norwest Mortgage signed a lease for 12,085 square feet at 1775 Pyramid Place in Nonconnah Corporate Center. The office will be the headquarters for Norwests Memphis operations, which employs more than 50 people.
John Mercer, a broker with CB Richard Ellis, represented the buildings owner, Crocker Realty Trust L.P. Murray Foster, senior associate with TCCs brokerage services group, represented Norwest. Foster also is representing Norwest in lease transactions for sales offices in Memphis.
Nashville-based BlueStar Communications Inc., a provider of digital subscriber line Internet access for Tennessee and Kentucky, subleased 8,000 square feet at 3400 Players Club Parkway in Southwind from General Motors Corp. The office will house BlueStars local sales and management staff.
Robert Snowden, broker with Commercial Tennessee, represented General Motors. Rick Helton, broker with TCCs Nashville office, co-represented BlueStar with Foster.
SterOut, a Deerfield, Fla.-based enterprise that provides outsourced reprocessing sterilization services to hospitals and medical clinics, leased 20,000 square feet at 3274 Democrat Road in Democrat Square North Industrial Park to be used for offices and laboratories.
Larry Wood, broker with Belz Enterprises, represented the buildings owner, Belz Investco L.P. in the transaction. Jonathan Kingsley, broker with TCC-South Florida, assisted Foster in tenant representation.
Sacramento-Calif.-based Panattoni Development Co. has started construction on an $11 million, 360,800-square-foot speculative facility at Eastpark Distrubtion Center at Holmes and Hickory Hill roads.
The project will be the third facility in the 150-acre industrial park, which will eventually include five distribution centers. Construction is set to start within two weeks.
Recent deals completed by the company include Chicago-based United Stationers leasing 647,000 square feet in Eastpark, in the same facility Go/Dan Industries is leasing 234,000 square feet. M.S. Logistics Services is leasing 338,000 square feet in another building in the park.
The United deal also prompted Panattoni to launch a $20.1 million, 650,000-square-foot spec building at Southpoint Distribution Park at Holmes and Pleasant Hill Road, company officials said.
TVO Sycamore LLC, a Delaware limited liability company, purchased 14.7 acres at Sycamore View and Sycamore Ridge roads from Capreit Sycamore Ridge L.P., a Tennessee limited partnership, for $5.3 million, according to a special warranty deed filed April 25 in the Shelby County Registers Office.
Main Properties Inc., a California corporation, Mitchell Investments LLC, a Tennessee limited liability company, and Andrews Investments LLC, a Tennessee limited liability company, financed $25 million through SouthTrust Bank, securing the loan with 125.9 acres at Malone and Holmes roads, according to a trust deed filed Thursday.