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VOL. 125 | NO. 235 | Friday, December 03, 2010

Sarah Baker

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

Aces Increases Presence With Two Leases

By Sarah Baker

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Aces A/C Supply North has recently signed two leases in the region – one in Memphis and one in Jackson, Tenn.

Carrollton, Texas-based Aces, a representative of American Standard Heating and Air Conditioning, is a wholesaler of air conditioning and equipment and parts.

In Memphis, Aces leased 45,200 square feet at 4072 Senator St., taking the south end of the 104,800-square-foot building.

Charles Sevier, chief manager and principal broker at Crump Commercial LLC/Corfac International, was the tenant representative. Tim Mashburn, leasing associate at Colliers Management Services LLC, represented the landlord.

In Jackson, Aces signed a 14,000-square-foot lease for a freestanding building at 169 Commerce Center Circle.

Sevier again represented Aces, while Chris Carothers, managing broker with Jackson-based Hickman Realty Group Inc., represented the landlord.

Both Memphis and Jackson branches will be distribution centers for the company’s air conditioning parts.

In other commercial leasing news, C.M.I. Freight-Trans Inc. has bought a 419,918-square-foot property from Boyle Investment Co. for $500,000 on Sharp Plaza Boulevard.

Chicago-based C.M.I., a division of Steel Wheel Transfer Inc., offers comprehensive intermodal distribution packages for the metals industry.

Investec Realty Services LLC broker Eric Fuhrman represented C.M.I., which plans to establish an intermodal operation on the 9.64-acre property.

Joel Fulmer, senior vice president of Boyle, represented the seller.

Also, Eastern China Buffet has signed a 6,100-square-foot lease at 7065 Winchester Road in Majestic Retail Center in the former China Pan Restaurant space.

Sam Hanks, owner and office manager of BrokerNetwork GMAC Real Estate, was the tenant representative in the deal. Gary Shanks and Carson Claybrook with The Shopping Center Group LLC represented the landlord.

The restaurant fronts Winchester Road in the shopping center developed and owned by Michael Lightman Realty Co.

Co-tenants of the center include Majestic Liquor & Wines, Milano’s Pizza, CitiFinancial, Back Yard Burger and Malco Theatres.

Eastern China Buffet plans to open at the beginning of January.

Utley Properties has also announced a handful of new deals.

Factory Connection has signed a 4,560-square-foot lease at 7415 Goodman Road in Village Shops shopping center, with an initial term of five years. The shopping center, owned by Utley Properties, is in Olive Branch in the U.S. 78 and Goodman Road corridor.

Albertville, Ala.-based Factory Connection provides name brand merchandise for customers in small- to medium-sized markets.

Utley Properties director of marketing/sales and leasing agent Bambi Fowler represented the landlord, while working with Gaylan Hamilton, director of real estate at Factory Connection.

There was no tenant representation in the deal.

Factory Connection, which is planning a February or March opening, will join tenants such as Kroger, GNC, H&R Block, Hunan’s Restaurant, Cricket, Papa John’s, Steak Escape and Honeybaked Ham.

In addition, It’s Fashion is expanding its 3,340-square-foot lease in Northwest Plaza shopping center, 118 Northwest Plaza Drive, in Senatobia, Miss.

Northwest Plaza is anchored by a Walmart Super Center.

The gross leasable area will 9,205 square feet and the tenant will become It’s Fashion Metro.

The expansion is expected to be completed by April 1.

Fowler and Mark Utley, CEO and president of Utley Properties, worked with Warren Doyle, regional vice president and director of real estate for Cato Corp. There was no tenant representation.

Also, Antonio Abram’s mortgage company is moving from 266 square feet to 750 square feet of office space at 6933 Crumpler Blvd.

Fowler and Utley were the landlord reps with no tenant representation. Abram’s new space will be effective Jan. 1.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 209 209 16,401
MORTGAGES 252 252 18,937
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 393 393 33,519
BANKRUPTCIES 124 124 10,861
BUSINESS LICENSES 57 57 5,255
UTILITY CONNECTIONS 102 102 11,446
MARRIAGE LICENSES 70 70 3,937

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