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VOL. 126 | NO. 14 | Friday, January 21, 2011

Sarah Baker

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

Yogurt Craze Continues with TCBY Store

By Sarah Baker

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A TCBY franchise has signed a 1,225-square-foot lease in University Center, 3445 Poplar Ave., at the southwest corner of Poplar and Highland Street.

The lessee is Neshoba Landholdings, which is subleasing the space to Eric Tushek Enterprises LLC. Rip Crain, owner of Neshoba, is also a partial owner in Eric Tushek Enterprises.

The new TCBY – The Country’s Best Yogurt – will continue along with the current trend of self-serve yogurt. This will be Crain and Tushek’s fourth TCBY location in the Memphis area.

“TCBY nationwide has found that the self-serve concept has really gone strong around the universities,” Crain said.

This TCBY will not only be self-serve, but it will be the first Memphis frozen yogurt shop that meets the requirement of the “Super Fro-Yo” classification.

The new classification distinguishes between the industry’s baseline levels of nutritionals as live active cultures, probiotics and dietary fiber compared to TCBY’s “super” elevated levels that will redefine the healthy nature of its product.

Aaron Petree, Loeb Properties Inc. vice president of leasing and management, represented the landlord. Barry Maynard, affiliate broker with Trezevant Realty Corp., represented the tenant.

Maynard said Crain is looking to open several more locations in North Mississippi and West Tennessee.

“It’s a great site; they wanted to get into that Poplar and Highland area,” Maynard said. “It’ll do well.”

But the self-serve craze, Crain said, will eventually play itself out.

“We’re about to get saturated and we’ve still got a lot more coming,” Crain said. “On the coasts where this started, it’s starting to lose its luster and a lot of them are closing.”

One of the reasons Crain and Tushek took the location was because of its ability to convert to a traditional store with a drive-through when the trend loses momentum.

Based in Salt Lake City, TCBY’s first shop opened in Little Rock in 1981. Today, there are more than 600 locations in the U.S. and internationally.

Other Loeb deals in recent weeks include Garden District’s 4,200-square-foot renewal and expansion at Sanderlin Place, 5040 Sanderlin Ave.

Loeb senior vice president asset management Carey White represented the landlord. Garden District owners, Greg Campbell and Erick New, were not represented.

Also, Tameka Walton, owner of Relaxx 25 Hair Salon, has signed a new 1,600-square-foot lease at 1651 Lamar Ave.

Chris Heinz, Loeb senior property manager, was the landlord rep in the deal.

Peria has renewed 1,200 square feet in the Belvedere Collection, 1680 Union Ave.

Peria is a Memphis-based shoe boutique, owned by Peria Gober and Mackie and Jane Gober. Loeb senior property manager Bradley Wilford was the only agent involved in the deal.

In other commercial leasing news, Suites Living Inc. signed a new 6,000-square-foot lease in Bartlett’s Davis Industrial Center, 5798 Ferguson Road.

Suites Living is a franchise of Marriott and provides short-term furnished housing for corporate travelers.

The Chesterfield, Mo.-based company currently has a small single office, and this new location will be an expansion of that office, with its first warehouse location in Memphis. Suites Living’s lease fills the remaining vacancy left in the center.

NAI Saig Co.’s affiliate broker Elliot Embry and business manager and vice president Hank Martin represented the landlord, Cleveland St. Partners LLC.

“Bartlett Station provides (Suites Living) easy access to all points in Memphis,” Embry said.

ADC Integrated Systems Inc. signed a three-year, 2,950-square-foot lease at 1180 Vickery Lane, suites 100 and 101, in Cordova.

Memphis-based ADC Integrated Systems is a full-service provider of data collection hardware, software and systems.

Jody McKibben, commercial broker with Investec Realty Services LLC, represented the landlord, BCH Investments. Michael Deen, president of Village Investment Properties LLC, was the tenant rep.

Kathryn Byrd has leased 2,462 square feet at Pennmarc Centre, 6401 Poplar Ave., for her ophthalmology office.

Laura Carpenter, CB Richard Ellis Memphis associate, represented Byrd. John Mercer, Highwoods Properties Inc.’s director of leasing, represented the landlord.

Brynnen Baker, affiliate broker with Trezevant Realty, has inked a pair of deals in Oxford, Miss.’s Oxford Galleria Shopping Center.

Rocky Mountain Chocolate Factory signed a new 1,520-square-foot lease, while “Pretty Sweet” Cupcakes and Cake Décor signed a 915-square-foot lease.

PROPERTY SALES 64 151 1,493
MORTGAGES 45 105 1,152
BUILDING PERMITS 201 410 3,466