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VOL. 126 | NO. 10 | Friday, January 14, 2011

Sarah Baker

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

Interstate Brands Renews, Expands Lease

By Sarah Baker

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Interstate Brands Corp. has renewed and expanded its lease in the Germantown Park - Kimbrough Building in Cordova, more than doubling its footprint.

Interstate Brands Corp. is a Kansas City, Mo.-based wholesale baking distributor, under brand names like Wonder, Hostess and Baker’s Inn.

The tenant moved from 60 Germantown Court, suite 105, to 57 Germantown Court, suite 100, adding 4,837 square feet from its original lease to a new total of 7,878 square feet.

Germantown Park is located at the intersection of Germantown Parkway and Walnut Grove Road in a part of Cordova annexed by Memphis near Germantown.

The Kimbrough Building is one of six buildings in the Germantown Park Office Community, formerly the Koger building. Amenities include a full-service bank on site and available conference center.

Michael Donahoe, director of leasing at Investec Realty Services LLC, represented the landlord, DRA CRT Germantown Center LP, in the 5.25-year deal. There was no tenant representation.

The tenant is expanding its Memphis regional sales center, bringing in new jobs, Donahoe said.

“We feel that Interstate Brands is a great, well-recognized name throughout the country, and having their regional sales office at this location is great for the building,” Donahoe said. “We feel Memphis is a good location for them, very centrally located for them to hit a lot of markets they need to in the South.”

In addition, Donahoe represented landlord DRA CRT Germantown Center LP in a five-year lease in Germantown Park - Gainsborough Building.

Square D renewed 1,335 square feet and expanded 344 square feet at 65 Germantown Court, suite 315.

Square D, a division of the French company Schneider Electric Industries SAS, is an electrical distribution company. The expansion will provide the tenant with a larger conference room.

The tenant was represented by Michael Morgan, senior associate with CB Richard Ellis Memphis.

Amy Balentine and Sheila Vamplin have signed a new 565-square-foot lease in Grove Park Center, 4515 Poplar, suite 422.

Jason Dietz, Investec affiliate broker, represented the landlord, RMR Investments, in the deal. There was no tenant representation.

ThyssenKrupp AG has signed an 18,750-square-foot lease extension in Bellbrook Industrial Park. Düsseldorf, Germany-based ThyssenKrupp is a materials and technology group.

Commercial Advisors LLC president and CEO Larry Jensen and associate Matt Weathersby represented the tenant, while Patrick Walton, CBRE associate, represented the landlord.

Jensen and Weathersby were also tenant reps in Konica Minolta Holding Inc.’s 2,655-square-foot lease extension in Jackson, Tenn., at 2078 Hollywood Drive. There was no landlord representative in the deal. Tokyo-based Konica Minolta is a global imaging and copier company.

Also, Gexpro has renewed its 33,000-square-foot lease in Mendenhall Business Center, 4370 S. Mendenhall Road. Shelton, Conn.-based General Supply & Services Inc., which does business as Gexpro, is an electrical distribution firm.

Weathersby, along with Steve Lee, associate at Irvine, Calif.-based Cushman & Wakefield – a Commercial Advisor alliance partner – represented the tenant.

“(The tenant) is happy with the area, they’ve had success there, and look forward to continuing to thrive in that location,” Weathersby said.

Brad Murchison, CBRE senior associate, represented the landlord, RREEF.

In other commercial leasing news, Amateur Athletic Union (AAU) of the USA Inc. signed a lease at 3665 S. Perkins Road in Perkins Park.

Lake Buena Vista, Fla.-based AAU is one of the largest nonprofit multi-sport organizations in the U.S.

The tenant was in about 5,000 square feet less than a quarter of a mile away, and has now relocated into 8,300 square feet of space.

Bobby Dodd, AAU’s president, signed the lease. The industrial team of Andy Cates, Preston Thomas and Mike Driscoll of Colliers International represented the landlord and were the only agents involved.

Combined, AAU and another new tenant now occupy 24,000 square feet in Perkins Park.

“It’s a great sign for the park,” Cates said. “We were able to get two big vacancies leased up and really stabilize the park.”

• Southern Hands Family Dining has signed a 10-year, 5,162-square-foot lease at Parkway Place, 1250 N. Germantown Parkway, in the former Whole Hog Café space.

This is Southern Hands’ third location in the Memphis area.

The owner is Earlena Brown. The Shopping Center Group LLC’s Gary Shanks and John Reed brokered the deal on behalf of the landlord, 1250 PP Master Lessee LLC.

Parkway Place is a 52,588-square-foot shopping center in Cordova, anchored by Party City, Petco and Bonefish Grill.

PROPERTY SALES 36 154 6,546
MORTGAGES 34 94 4,129
BUILDING PERMITS 201 554 15,915
BANKRUPTCIES 43 126 3,396