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VOL. 126 | NO. 152 | Friday, August 5, 2011

Sarah Baker

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

Tiger Gift Shop Moves To Larger Space

By Sarah Baker

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Tiger Gift Shop is relocating a few doors down from its current location on the Highland Strip near the University of Memphis.

The university retailer, now at 549 S. Highland St., has signed a new 5,000-square-foot lease at 531 S. Highland, in the space formerly occupied by From One Greek to Another.

Sue Stinson Turner of Crye-Leike Realtors Inc. represented Jeremy and Tonia Stinson, the new owners of Tiger Gift Shop. John Schaffler of McKee & McFarland Inc. represented the landlord, Cecil Humphreys.

The new space will provide about 2,000 additional square feet of space, Jeremy Stinson said, allowing the store to expand its product offerings and in turn make for a better shopping experience.

“We have a lot of stuff here that not a lot of people know about memorabilia wise,” he said. “We have a bunch of autographed jerseys that nobody ever sees because they’re in our back room. And so, by bringing all of that stuff out, it gives fans an opportunity of not just being here shopping, but also looking at stuff and talking about the games and recruiting and things like that. It adds to it the history of the school. It should make it fun.”

Jeremy Stinson has run the store since its opening in 2007. On June 1, Mike and Suzie Bowen sold Tiger Gift Shop to the Stinsons, also turning over rights to their online storefront www.tigergiftshop.net.

The Bowens will maintain a close relationship with the store, which will also represent custom services for their business, Champion Awards and Apparel Inc., the largest and longest local licensee for the U of M.

• In other commercial leasing news, O’Reilly Auto Parts has acquired 1.33 acres of land at 2865 N. Houston Levee Road from Iberia Bank for $245,000.

The Springfield, Ill.-based auto parts and accessory carrier plans to build its 16th Memphis-area store just north of the new CVS development off U.S. 64.

Chicago-based Jones Lang La Salle’s Memphis office associate broker Jack Wohrman represented the tenant. Richard and Carolyn Gregory at RE/MAX on Track represented the seller.

There was a planned shopping center onsite a while back before Iberia foreclosed on the site, Wohrman said.

“We’ve been looking in this area for several years now and the opportunity presented itself,” he said.

O’Reilly purchased one of the site’s two available lots. The other lot is under contract and should be closing soon, Wohrman said.

• Roosevelt Jackson, owner of RJ’s Custom Clothiers, has signed a new 437-square-foot lease in University Center, 3473 Poplar Ave.

This will be owner Roosevelt Jackson’s first retail location for his custom tailor business, after operating out of his home in Lakeland since 1995.

Aaron Petree, vice president brokerage with Loeb Properties Inc., represented the landlord. The tenant was not represented in the deal.

“There are only so many retail businesses out there who can utilize a 437-square-foot space, and RJ’s Custom Clothiers is a nice fit (no pun intended) for this small space,” Petree said. “University Center’s central location makes it an ideal spot for this service-oriented business to cater to suit-wearing businessmen from Downtown to East Memphis and everywhere in between.”

• Also, Michael Lee, owner of beer and winemaking supplier Mid-South Malts, has renewed his lease on 1,600 square feet in Cloverleaf Shopping Center, 741 N. White Station Road.

Chris Heinz, Loeb senior property manager, was the only agent involved in the deal.

Southern Benefit Administrators Inc. has renewed its 1,185-square-foot lease in Nonconnah Corporate Center, 2603 Corporate Ave.

The Nashville-based firm provides employee benefits administration and consulting.

Cushman & Wakefield/Commercial Advisors Asset Services LLC vice president Phil Dagastino Jr. represented the owner, Hampshire Properties. The tenant was unrepresented.

Red Bull North America renewed its 2,400-square-foot lease at Trinity Ridge Business Center, 7730 Trinity Road.

Bryce Daves, CB Richard Ellis Memphis associate, represented the landlord, BACM2007-4 Trinity Ridge LLC.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 76 145 2,480
MORTGAGES 65 148 3,042
FORECLOSURE NOTICES 16 24 501
BUILDING PERMITS 213 310 5,313
BANKRUPTCIES 43 87 1,866
BUSINESS LICENSES 14 40 936
UTILITY CONNECTIONS 23 52 1,064
MARRIAGE LICENSES 8 21 364

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