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VOL. 125 | NO. 230 | Friday, November 26, 2010

Sarah Baker

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

Menlo Bolsters Local Presence With New Lease

By Sarah Baker

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Menlo Worldwide Logistics LLC is expanding its Memphis-area operations with a new 181,000-square-foot lease in ProLogis Park DeSoto in Olive Branch.

San Mateo, Calif.-based Menlo is a global provider of logistics, transportation management and supply chain services with operations in five continents.

“ProLogis has proven to be a strategic business partner with a deep understanding of our needs for modern logistics facilities,” said Lonny Warner, vice president, high-tech industry group for Menlo Worldwide Logistics, in a release. “This facility is well located for our needs in the greater Memphis area and provides high-quality distribution space which will support effective and efficient service for customers.”

Menlo will occupy the space in Building One at ProLogis Park DeSoto, a distribution park in DeSoto County not too far from Memphis. ProLogis Park DeSoto is at the intersection of Miss. 305 and U.S. 78 and has sustainable features like clerestory windows and energy-efficient fluorescent lighting systems.

Constructed in 2008, ProLogis DeSoto Park has two buildings totaling approximately 980,000 square feet and is now fully leased. Menlo will join tenants GE Energy and Cardinal Health Inc.

“This lease fills our last piece of available development portfolio space in Memphis, underscoring our customers’ ongoing needs for high-quality, well-located distribution facilities,” said Larry Harmsen, president of Denver-based ProLogis, in a release. “Menlo is an important ProLogis customer, and we are pleased to continue to meet the company’s logistics space needs in Memphis and worldwide.”

Menlo was represented by Scott Pahlow, executive vice president at Grubb & Ellis Memphis in cooperation with Steve Shields, president of Solana Beach, Calif.-based Transportation Property Co.

In other commercial leasing news, Argo & Associates Inc. has leased 6,000 square feet of office and warehouse space in Davis Industrial Park, 5792 Ferguson Road in Bartlett.

Grubb & Ellis Memphis associate Trey Sowell represented the tenant, Argo & Associates, which is headquartered in Germantown.

“There’s a lot of good things going on at Bartlett Station with the (Bartlett Station) Development Commission – they’ve really got some incentives to help them improve the surrounding area,” Sowell said.

NAI Saig Co. affiliate broker Elliot Embry and business manager and vice president Hank Martin represented the landlord, Cleveland St. Partners LLC.

Loeb Properties Inc. announced a pair of commercial leases in its shopping centers.

YoLo leased a 2,080-square-foot lease last week at 6 S. Cooper St.

Jimmy Lewis was broker for YoLo owner Taylor Berger, and Loeb’s landlord representatives were senior property manager Chris Heinz and senior vice president of asset management Carey White.

Also, Sugar Plum Consignments signed a 1,565-square-foot lease at Primacy Place, 6080 Primacy Parkway.

Aaron Petree, Loeb vice president of leasing and management, represented the landlord, and Conner Walker, leasing associate with Commercial Alliance Management LLC, represented the owner of Sugar Plum Consignments, Melissa Dixon.

Loeb Properties’ affiliate, Loeb Realty Group LLC, announced a few deals as well.

Memphis Gold Buyers has leased 1,520 square feet in the Shops of Chickasaw Gardens, 3129 Poplar Ave.

WiCom Inc., a cellular phone store, has signed a 1,310-square-foot lease in the Shops of DeSoto Center in Hernando 1046 Church Road.

Landlord reps were Loeb Realty Group’s principal broker Frank Dyer III and affiliate broker Allen Israel.

Investec Realty Services LLC has also announced a handful of new lease deals. All deals were represented by Investec Realty Services’ affiliate broker, Jason Dietz, with no tenant representation.

Williams & Dawkins Law Firm signed a new 812-square-foot lease at 1407 Union Ave., Suite 1203. G& IV Mid-Memphis Tower is the landlord in the three-year deal.

Several of Dietz’s recent inked items are in Grover Park Center, 4515 Poplar Ave., with landlord RMR Investments.

Memphis-based W R Community Services LLC signed a new five-year lease in Suite 204 for 1,477 square feet.

Dietz was pleased with the home health care company’s deal.

“We were happy to get (W R Community Services) because we know that they are a thriving business right now in this economy,” Dietz said. “They have been expanding their business in Tennessee and make a great addition to our building.”

W R Community Services’ new location at Grove Park will become the company’s administrative offices.

Also, therapists Coleen Butterick & Roseanna Capooth signed a new three-year lease in Suite 404 for 602 square feet.

And clinical psychologist Nancy Jordon inked a new 242-square-foot lease in Suite 421 for five years.

PROPERTY SALES 36 154 6,546
MORTGAGES 34 94 4,129