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VOL. 125 | NO. 240 | Friday, December 10, 2010

Sarah Baker

SEND COMMERCIAL LEASE ANNOUNCEMENTS to Sarah Baker, who can be reached at 521-2464 or sbaker@memphisdailynews.com.

Skyline Grows Local Footprint on Vantech Dr.

By Sarah Baker

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Skyline Exhibits MidSouth is expanding its presence at East Pointe Business Center.

The St. Paul, Minn.-based tradeshow exhibits company renewed its 9,958-square-foot lease at 3895 Vantech Drive, Suite 9, and expanded into an additional 3,524 square feet. The additional space will enable Skyline to assemble and store exhibits for clients.

Skyline also has offices in Little Rock, Bentonville and Fayetteville, Ark. Bobby Daush, associate with CB Richard Ellis Memphis, represented Skyline in the deal.

Commercial Alliance Management LLC executive vice president Mark Jenkins and leasing associate Conner Walker, who represented the landlord, said keeping tenants is paramount for commercial real estate survival.

“Retaining your existing tenants is critical to the ongoing success and occupancy of the property,” Jenkins said. “In today’s economic environment – where many companies are remaining status quo, are downsizing and relocating – it’s significant when one of your tenants is able to expand. When you have a tenant that’s growing, that’s good for everybody.”

Other East Pointe Business Center deals in recent weeks include N.Y.-based Nippon Express U.S.A. Inc., a global logistics company, renewing 9,179 square feet at East Pointe Center, 3955 Vantech Drive, Suite 20.

Also, Computers & Networks Inc. renewed 12,136 square feet in East Pointe, 4005 South Mendenhall Road, Suite 18. Computers & Networks provides IT consulting and network support services, focusing on Microsoft Windows OS and Compaq and HP Hardware. Daush was the tenant rep, and Jenkins and Walker were landlord reps for both deals.

In other commercial leasing news, a 262,700-square-foot multitenant industrial property was sold to Benerofe Properties and KABR at 3131 Appling Road.

CBRE represented Brobel GP in the disposition of the Belz Enterprises’ property, which was sold for $8.5 million. The listing team included executive vice president Johnny Lamberson, senior vice president Frank Quinn and sales analyst Terry Radford. The property is 93 percent occupied and is anchored by Varsity Brands Inc.

A Cricket authorized dealer has inked a 3,829-square-foot deal at 1951 State Line Road.

The buyers, Archie Yousef and Mousa Maree, bought the property for $286,000 from Renaissance Bank. J. Max Hamidi, broker with RE/MAX Elite of Memphis, was buyer’s agent, while Michael Austin with Austin Realty Group of Southaven was seller’s agent. The dealers have 24 branches nationwide, including nine in Memphis and three in Nashville.

Camp Electric LLC has signed a new 1,675-square-foot lease at 8289 Cordova Road, Suite 104.

Joseph “Jody” McKibben, commercial broker with Investec Realty Service LLC, represented the landlord, BCH Investments, in the three-year lease. There was no tenant representation.

Loeb Properties Inc. has closed on several deals within recent weeks.

Dr. Philip Northcross has signed a new 2,725-square-foot lease at University Center, 3445 Poplar Ave. Aaron Petree, vice president brokerage of Loeb Properties, represented Loeb as the landlord. Mike Ferguson, broker with McCullar Ferguson Realty LLC, represented the tenant.

Coming Attractions has renewed a 1,500-square-foot lease in ErinWay Shopping Center, 559 Erin Drive. Petree negotiated the deal with Coming Attractions owner Kay Weems.

Also, Saturn Development Inc. bought 261.51 acres from NRV-RW1 LLC in Walls, Miss., near the corner of U.S. Highway 61 and Church Road.

Matt Prince, Loeb senior vice president of brokerage and development, represented the land owner.

Loeb Properties’ affiliate, Loeb Realty Group, has also inked a couple of deals. Memphis Banquet Hall has signed a 2,345-square-foot lease at Memphis Retail Center, 6747 Winchester Road.

And Cork & Barrel Wine Store has leased 1,998 square feet in Highland Court Shopping Center, 2631 McIngval Road, in Hernando. LRG principal broker Frank Dyer III and affiliate broker Allen Israel were the landlord and tenant representatives in both transactions.

Last, Clyde Terry Sr. has bought a 10,000-square-foot warehouse at 387 Bodley from Mallory Bodley LLC for $150,000. Brian Califf, broker associate with NAI Saig Co., negotiated the deal.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 124 481 17,865
MORTGAGES 127 530 20,565
FORECLOSURE NOTICES 4 48 2,693
BUILDING PERMITS 195 891 36,836
BANKRUPTCIES 52 262 11,426
BUSINESS LICENSES 24 139 5,848
UTILITY CONNECTIONS 26 116 6,830
MARRIAGE LICENSES 26 133 4,049