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VOL. 126 | NO. 64 | Friday, April 1, 2011

Sarah Baker

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

Myers Tire Finds ‘Ideal’ Spot in Miss.

By Sarah Baker

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Airways Distribution Center at 8474 Marketplace Drive in Southaven is nearly at capacity with a new lease.

Myers Tire Supply has signed a new 55,575-square-foot lease with Atlanta-based Industrial Developments International Inc. at the center’s Building F.

Akron, Ohio-based Myers Tire Supply distributes tire, wheel and under-vehicle service tools, equipment and supplies. MTS will consolidate several regional distribution branches to this location and begin operating out of the space in May 2011.

“We look forward to serving our customers with even greater efficiency and care from this new regional distribution center,” vice president and general manager of Myers Tire Supply Todd Smith said in a statement.

“As part of a distribution branch consolidation project for our business, the new Memphis center is an ideal location for the rapid order fulfillment and service our customers require – and for which the MTS brand prides itself on delivering.”

The company chose the space at Airways Distribution Center because of its strategic location. Airways Distribution Center is a Class A business park only two miles from the Memphis International Airport, less than one mile from two I-55 interchanges and six miles from I-240.

Built in 2003, the center features six buildings for a total of 2.7 million square feet. The company will join Hino Motors and Safelite AutoGlass in Building F, leaving only 27,243 square feet available for lease.

IDI’s Memphis market office has had a strong start to 2011, closing a lease renewal with Priority Fulfillment Services in the center’s Building E earlier this month. About 750,000 square feet is available for lease in the park.

“We look forward to building this relationship with Myers Tire Supply and supporting them as they relocate to DeSoto County,” said Tim Moore, vice president of leasing in IDI’s Memphis office. “We are thrilled that the park’s strategic location and building amenities fit their needs for a new regional distribution center.”

Bobby Daush, Jim Mercer and Patrick Burke of CB Richard Ellis Memphis, along with Kevin Malinowski of CB Richard Ellis Global Corporate Services in Cleveland, represented the tenant, while Moore represented IDI.

In other deals, Memphis-based CRSA has renewed its 11,971-square-foot lease at Shadow Creek I, 3350 Players Club Parkway, for four years.

For 20 years, CRSA has provided a full range of professional services to develop, market, manage and finance retirement communities for investors, owners and sponsors committed to providing a quality lifestyle for senior adults.

The company has a development off Cherry Road in front of Harding Academy called the Town Village Audubon Park, as well as The Village at Germantown.

Highwoods Properties Inc.’s director of leasing Tony Argiro represented the landlord.

Jim Rainer, broker with Grubb & Ellis Memphis, represented CRSA both in the renewal and also when the firm relocated from the Crescent Center out to Southwind many years ago to establish its national headquarters location.

“Over the years, CRSA has expanded several times and has enjoyed their space with excellent views of the golf course and a good location which is accessible for their employees and good service from Highwoods,” Rainer said.

Immigration attorneys Eric Henton and Mona Mansour signed an 850-square-foot lease office in The Hobson Building, 5834 Poplar Ave.

After looking for a space all along the Poplar corridor, The Hobson Building was the best fit, Henton said.

“In terms of location, 240’s just right there, makes it real nice to get to court and easy to tell clients how to get here,” he said. “I was out in Bartlett and that was the one thing that wore me out was explaining to people how to get way out there, so I was glad to have a bit more central location.”

This will be Henton and Mansour’s first joint venture.

Greg deWitt, vice president with Grubb & Ellis Memphis, represented the landlords, Joel and Jennifer Hobson, in the deal. There was no tenant representation.

Builders Supply has signed a 25,500-square-foot lease in Distriplex Farms, 6101 Discover Drive.

A division of Taylor, Mich.-based Masco Corp., Builders Supply services building materials such as cabinets and gutters.

Scott Pahlow, executive vice president with Grubb & Ellis Memphis represented the tenant. Hank Martin, vice president with NAI Saig Co., represented the landlord, Net Magan Property One LP.

The location worked well for the tenant, which is relocating from Olive Branch to Memphis, Pahlow said.

“They service a lot of home building, so a lot of that is east of town and there wasn’t a building that suited them farther east than that, and that’s where they needed to be,” he said.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 86 393 21,159
MORTGAGES 94 424 24,785
FORECLOSURE NOTICES 0 93 8,703
BUILDING PERMITS 173 1,010 43,347
BANKRUPTCIES 52 292 14,194
BUSINESS LICENSES 15 90 6,491
UTILITY CONNECTIONS 28 167 13,678
MARRIAGE LICENSES 12 89 5,158

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