VOL. 126 | NO. 123 | Friday, June 24, 2011
Ga.-Based Coastal Logistics Signs Lease
By Sarah Baker
A budding Savannah, Ga.-based third-party logistics firm is expanding into the Southeast Memphis industrial market. Coastal Logistics Group Inc. has signed a new 50,000-square-foot lease at 5715 Distribution Drive.
CLG provides services that include packing and crating, specialized port, distribution support and manufacturing support. The private company is a fast-growing 3PL firm, ranked by Inc. magazine as a fastest growing company in the country for 2009 and 2010.
Chicago-based Jones Lang La Salle’s Memphis office managing director Russ Westlake and associate broker Jack Wohrman represented the tenant.
Scott Pahlow, executive vice president with Grubb & Ellis Memphis, represented the landlord, A.L. Dougherty-Tennessee III LLC.
“Coastal selected this location because it fit their current space requirement and provides attractive lease economics,” Wohrman said. “It also has expansion capability up to 150,000 square feet and a potentially active rail spur.”
• In other commercial leasing news, Tom and Susan Sinis have purchased two parcels of land at 9687 U.S. 64 and 2868 Morning Sun for $377,000 from Paragon National Bank.
Crye-Leike Commercial Inc.’s Arlington office team of John Waddell, Jeff Waddell and Bert Adcock acted as facilitators.
Plans for the 3.78-acre site are to build a new Olympic Steak and Pizza restaurant. This will be the family-owned restaurant’s fourth location, behind stores in Oakland, Millington and Atoka.
“They were looking for something on the east side of Memphis and that would service the Bartlett and Cordova area,” John Waddell said.
Construction is expected to commence by late summer.
• Laura Lee’s Lunchables has signed a 1,400-square-foot lease in Sycamore Crossing, 5729 Raleigh-LaGrange Road.
Sam Zalowitz of Zalowitz Commercial Realty LLC represented the Memphis-based catering company in the transaction, which was started by Laure Lee Martin in February 2010. Martin was working out of a church and this is her first stand-alone business venture, Zalowitz said.
Michael Danziger, director of marketing and affiliate broker with Malkin Management & Investment Co. Inc. represented the landlord.
Also, ShowImage Displays has signed a 7,500-square-foot lease at 1716 N. Shelby Oaks Drive, suite 4.
Zalowitz represented the Memphis-based tenant, which specializes in display systems, design capabilities, exhibit rental and graphic production. ShowImage Displays was previously situated on about 4,000 square feet at Summer Gale Drive and relocated to the new Shelby Oaks location, which provides the opportunity for almost twice as much space, Zalowitz said.
The landlord, 1716 Shelby Oaks LLC, was represented by Stan Myers, director of industrial leasing and sales at Belz Enterprises.
Carol’s Beauty Salon has leased 1,500 square feet at the Plaza on Macon, 8095 Macon Road.
Zalowitz represented the owners of the property, Mohammed and Fahima Khan, as well as the tenant in the transaction.
• Loeb Properties Inc. affiliate Loeb Realty Group has inked several deals in recent weeks. LRG principal broker Frank Dyer III and affiliate broker Allen Israel represented the landlord in all of the following:
dd’s Discounts has signed a 22,000-square-foot lease in Austin Peay Plaza, 3209 Austin Peay Highway. Pleasanton, Calif.-based dd’s Discounts is a division of Ross Stores Inc. and brands itself as a neighborhood destination that seeks small shopping centers.
This is the tenant’s first Memphis area location.
In addition, Tommie Henderson, owner of New Consortium of Law & Business, has leased 9,360 square feet in Bartlett Retail Center, 6165 Stage Road. The tenant’s mission is to improve the intellectual dexterity of middle and high school students.
Maria Akpotu, owner of May/Sept Health Care, has signed a 2,557-square-foot lease in the Market at Summer Oaks, 4514 Summer Ave.
1040 Financial Partners has signed a 1,200-square-foot lease in Mendenhall Centers, 3683 Mendenhall Road. Temetriss Pope is the owner of the accounting and tax services franchise.
Also in Mendenhall Centers, Singleton’s Wings & Things has signed a 2,400-square-foot lease at 3724 Mendenhall Road. The owners are Karlos Singleton and Temetriss Pope.
Last, Keith and Elizabeth Thomas, owners of Thomas Meat & Seafood, have signed a lease on 1,700 square feet in the Shops of Collierville, 875 W. Poplar Ave.