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VOL. 126 | NO. 254 | Friday, December 30, 2011

Former Southaven Schnucks Leased to Superlo

By Sarah Baker

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The former Schnucks supermarket building at 975 Goodman Road in the Southaven Commons shopping center has been leased to Stepherson’s Superlo Foods.

The 54,820-square-foot building was vacated in September when Schnucks abruptly pulled out of the Memphis market and sold the majority of its Memphis assets to Kroger. It was one of three properties that were not acquired by Kroger; Kroger already had two stores in close proximity to the Southaven Commons center.

The Shopping Center Group LLC partner Shawn Massey and broker Robert Sloan represented the landlord, Southaven Commons LLC, and were the brokers of record for the entire project. Superlo was represented by Kansas City, Kan.-based Associated Wholesale Grocers Inc., who worked directly with the owner of the shopping center.

Stepherson’s Superlo Foods is locally owned by president Randy Stepherson and currently has five Memphis area locations.

Southaven Commons LLC is excited about the opportunity to back fill the space with a quality local grocer who is backed by the distribution power of a national supermarket wholesaler, Massey said.

“This shows the strength of the Southaven trade area that this well-located retail big box was quickly picked up,” Massey said in a release. “This robust leasing of big box spaces was very common for the Southaven area in the past 18 months when the former Circuit City, Linen’s & Things, World Market and Sportsman’s Warehouse spaces at (Chattanooga-based CBL & Associates Properties Inc.’s) Southaven Towne Commons were quickly snapped up by quality tenants.”

Massey indicated that they have proposals out for another 24,000 square feet of potential leased space in the Southaven Commons shopping center to two quality national tenants who were waiting on the final announcement of the Superlo deal.

Superlo will be opening in the first quarter of 2012. The tenant would have liked to have been open prior to the holiday season, Massey said, but the current lease with Schnucks ran through January 2012.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 80 401 13,843
MORTGAGES 99 439 16,005
FORECLOSURE NOTICES 19 63 2,202
BUILDING PERMITS 233 998 28,755
BANKRUPTCIES 49 276 8,926
BUSINESS LICENSES 23 136 4,701
UTILITY CONNECTIONS 23 141 5,534
MARRIAGE LICENSES 15 88 2,982

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