VOL. 126 | NO. 240 | Friday, December 09, 2011
Colliers Signs Baker to First Site in Tenn.
By Sarah Baker
Colliers International’s industrial team of Andy Cates, Preston Thomas and Mike Driscoll has inked 63 transactions this year. Here’s a rundown on a flurry of recent deals the trio has brokered.
Baker Corp. has signed a lease for 20,000 square feet at 1451 Corporate Ave. near Interstate 240 and Millbranch Road.
Seal Beach, Calif.-based Baker provides containment, pumping, filtration and shoring equipment rental solutions. The 70-year-old firm has 90 locations nationwide, plus international operations in Europe, Canada and Mexico, but this will be its entrance into the Tennessee market.
Cates, Thomas and Driscoll represented the tenant and landlord, and were the only agents involved in the deal.
Baker moved into a building that’s been vacant for about three years but provides excellent visibility, Thomas said.
“That was a great spot for them because the building’s located on I-240 and it also had over six acres of land to store all their equipment on that was already improved,” Thomas said. “A lot of improvements on the interior of the building they could use too, so they were able to move into the building with minimal improvements needed by the landlord.”
Also, H2O Marine Accessories Inc., a local start-up business that develops and manufactures marine equipment, has leased 6,200 square feet at 1650 N. Shelby Oaks Drive.
Cates, Thomas and Driscoll represented the tenant. Stan Myers, director of industrial leasing and sales at Belz Enterprises, represented the landlord.
Waste Solutions Inc., a local recycling and waste disposal company, renewed its 64,000-square-foot lease in Raines Distribution Center, 5565 E. Raines Road.
Cates, Thomas and Driscoll represented the landlord, San Francisco-based Prologis Inc.
Lowrie Electric Co. Inc. renewed its 9,000-square-foot space at 7520 Bartlett Corp. Cove, Building E.
Cates, Thomas and Driscoll represented the tenant, and the landlord was unrepresented.
“It fits the tenant well because they need the outside storage on the building,” Thomas said.
And Technical Innovation has renewed its 4,200-square-foot space at 1680 Century Center Parkway, Building 10, in Bartlett.
The Norcross, Ga.-based firm provides video-centric communication solutions. Technical Innovation, which has been housed in the business center at Whitten Road and Interstate 40 for the past seven years, also has locations in Atlanta, Birmingham, Charlotte, Nashville and Raleigh.
Cates, Thomas and Driscoll represented the tenant. Tim Moore, vice president of leasing in Industrial Developments International’s Memphis office, represented the landlord.
Cates said his team’s deals are indicative of the overall industrial market.
“I’d say the market is going great, a lot of deals are getting done, and we’ve seen tons of activity leading into 2012,” he said.
• In other commercial leasing news, a local law firm has renewed its East Memphis office lease for an additional five years.
Black, McLaren, Jones, Ryland, and Griffee PC will continue its 10,092-square-foot lease with Simon Property Group Inc. for its offices at Oak Court Building, 530 Oak Court Drive, suite 360.
Black, McLaren, Jones, Ryland, and Griffee is made up of 12 attorneys practicing general civil and criminal law.
Will Barden of Barden Commercial Realty represented the tenant. Greg deWitt, vice president with Grubb & Ellis-Memphis, represented the landlord.
• Meanwhile, Asset Planning Services Inc. has signed a lease for 706 square feet in One Commerce Square, 40 S. Main St.
The tenant, which was unrepresented in the deal, is relocating from Houston Levee Road in Cordova to the 17th floor of the Downtown Memphis landmark tower.
Bentley Pembroke and Phil Dagastino, vice presidents with Cushman & Wakefield/Commercial Advisors Asset Services LLC, represented the landlord.
The lease brings the building’s occupancy to 79 percent.
Also, Dr. Torrance Lewis has signed a 1,832-square-foot lease in Germantown Parkway Medical Center, 8065 Club Parkway.
Kelly Truitt, president of CB Richard Ellis Memphis, represented the tenant. Conner Walker, senior vice president with Commercial Advisors Asset Services, represented the landlord.