VOL. 126 | NO. 79 | Friday, April 22, 2011
MBIN Signs New Lease At Bellbrook Park
By Sarah Baker
A Memphis-based wholesaler of collectable items has signed a new industrial lease in the Southwest submarket.
MBIN Global Inc. has signed a new lease for 26,250 square feet at Bellbrook Industrial Park, 1004 Brooks Road.
Patrick Walton, an associate with CB Richard Ellis Memphis who represented the landlord, Trammel Crow, said the deal happened quickly because of the tenant’s immediate needs.
“They needed space and they needed it as soon as possible, and we were able to accommodate them pretty fast,” Walton said.
Bellbrook Industrial Park is a 13-building campus totaling 1.7 million square feet spread over 100 acres with access to the Interstate 240 and Interstate 55 interchange.
MBIN’s lease brings the park to 84 percent occupancy.
In other CBRE deals, Carrier Enterprise LLC has renewed its lease on 82,000 square feet at 5191 Hickory Hill Road.
Orlando, Fla.-based Carrier Enterprise is a subsidiary of the largest independent HVAC distribution company in the world, Watsco Inc. Carrier Enterprise has more than 110 locations throughout 20 states, Puerto Rico, the Caribbean and Latin America.
CBRE vice president Patrick Burke and associate Bobby Daush of the firm’s industrial brokerage services represented the tenant.
Lake Forest, Calif.-based Apria Healthcare has expanded its lease on 94,850 square feet at Bemis Square, 1328 S. Highland Ave. in Jackson, Tenn., for its customer care center.
Alex Turley, senior associate with CBRE, represented the landlord.
Kuehne & Nagel has expanded its lease by 150,000 square feet and renewed its lease on 100,000 square feet at 6005 Freeport Ave. The global transportation and logistics firm is based in Switzerland.
CBRE senior associate Brad Murchison represented the landlord, while Burke represented the tenant.
Essex Group Inc. has expanded its lease by 7,500 square feet and renewed its lease on 7,500 square feet at 4400 S. Mendenhall Road.
The Atlanta-based firm is a division of Superior Essex Inc., a global manufacturer and supply of wire and cable products. Murchison represented the landlord.
In other commercial leasing news, La Joyita Inc., doing business as El Mezcal Mexican Restaurant, has inked its sixth Mid-South restaurant location on 2,582 square feet at Chiles Plaza Shopping Center, 7424 U.S. Highway 64, suite 101, in Bartlett.
Barry D. Maynard with Trezevant Realty Corp. represented the landlord, Chiles Plaza LLC, in the five-year deal. There were no tenant representatives in the deal.
Maynard also handled the El Mezcal’s recent lease at Almadale Crossing Shopping Center, 9947 Wolf River Blvd., suite 11, in Collierville.
Also, Equity First LLC has sold the commercially zoned land and building at 2100 Union Ave. to T.C. LLC for $250,000.
Built in 1915, the 2,101-square-foot-building is current occupied by Mid-South Title Loans.
Maynard represented the seller and handled the entire transaction.
Jovi Salon has leased 1,500 square feet in Primacy Place, 6100 Primacy Parkway.
The space was previously occupied by Signature Salon. Upon Signature Salon’s closing, Jovi Salon immediately signed a new lease to take the space.
Conner Walker, senior associate with Commercial Alliance Management LLC, represented the tenant, while Aaron Petree, vice president, brokerage with Loeb Properties Inc., represented the landlord.
The Shopping Center Group LLC also has several new deals to announce in recent weeks.
Pizza Hut has closed on 1,200 square feet in The Marketplace at Oakland off U.S. 64 in Oakland.
Pizza Hut, which will offer both takeout and delivery, followed other Louisville, Ky.-based Yum Brands Inc. concepts Taco Bell and KFC to Oakland.
The Shopping Center Group partner Shawn Massey and broker Robert Sloan were the listing brokers, while CBRE’s associate Tyler Tapley was the tenant rep.
Goodwill Industries of Memphis has signed a 1,360-square-foot lease in the Covington Commons Shopping Center, 1655 S. Highway 51, in Covington, Tenn.
Massey and Sloan were the listing agents, while Jess Ossorio of Crump Commercial represented the tenant.
“The owner is excited to have Goodwill Industries join the center,” Massey said. “The proximity to Walmart and Home Depot made this a home-run decision.”
Suits U has signed a 4,000-square-foot lease in The Vinings Shopping Center in Jackson, Tenn.
The Houston-based company designs men’s suits and accessories.
The tenant was represented by Massey and Gary Shanks, while John Reed was the listing broker.
After opening four stores in Memphis, the owners were ready to move to Jackson and test the market, Massey said.
And Laser Aesthetics Body and Wellness Center has signed a 2,400-square-foot lease in The Shops of Misty Bay, 9755 Highway 64 in Arlington.
Massey was the listing broker, while David Perdue, principal broker with Asset Realty Advisors LLC, was the tenant rep broker.