VOL. 126 | NO. 54 | Friday, March 18, 2011
WPG Americas Signs Lease in Southaven
By Sarah Baker
A San Jose, Calif.-based worldwide electronics distributor is entering the Memphis area with full force.
WPG Americas Inc. has signed a 54,000-square-foot lease at Airways Distribution Center, 481 Industrial Drive, in Southaven. The project – a relocation of the WPG America’s New York facility – represents a $1.5 million investment by the company and will create 60 jobs over the next three years.
WPG Americas is a member of WPG Holdings, the world’s third largest distributor of semiconductors, passive, electro-mechanical and display products with annual worldwide sales in excess of $8 billion.
“This a very exciting time for our company and we are confident that the decision to move to a modern and efficient facility, so well situated near a major transportation hub, will result in improved quality and faster service for our customers,” Reginald Durham, director of North America Distribution Centre for WPG Americas, said in a statement.
The Mississippi Development Authority worked closely with company and local officials to provide assistance for the project, using the Momentum Mississippi incentive program to assist the company with its move to Southaven. The DeSoto County Economic Development Council also provided assistance.
“Mississippi provides companies in the distribution and logistics sectors with strategic locations from which to better serve their customers and a supportive business climate, and we are pleased to welcome another leading distribution business to the state,” said Gray Swoope, MDA executive director.
CBRE’s vice president of industrial brokerage services Patrick Burke represented the tenant. The landlord was represented by Tim Moore, vice president of leasing with Atlanta-based Industrial Developments International Inc., a full-service real estate property company solely focused on industrial real estate.
Another big deal for both Southaven and IDI is the renewal of PFSweb Inc. affiliate Priority Fulfillment Services Inc. for 434,900 square feet.
PFSweb is an international business process outsourcing provider of end-to-end e-commerce solutions.
The tenant initially opened the Southaven center in 2004 and uses the facility to warehouse, fulfill and ship customer orders. PFSweb operates in more than 1.2 million square feet of warehouse space at five different distribution centers around the world, including one in Memphis.
“Our Southaven distribution center has been an integral part of our order fulfillment services offering,” PFSweb president Michael Willoughby said in a statement. “(It) is strategically located within the continental United States, allowing us to quickly manage the fulfillment of customer orders on behalf of our clients.”
Wyatt Aiken, chief operating officer and executive vice president of Commercial Advisors LLC, represented the tenant; Moore represented the landlord.
• In other commercial leasing news, The West Clinic signed a new lease on 9,953 square feet at Forum II, 1790 Kirby Parkway.
Laura Carpenter of CB Richard Ellis’s Healthcare Real Estate Services division represented the tenant. Chris Jonas, Memphis asset manager with Parkway Properties Inc., represented the landlord.
Leader Five Star Homes has signed a new 4,179-square-foot lease at Trinity Place Shopping Center, 7990 Trinity Road, Suite 202. CBRE’s retail services associate Tyler Tapley represented the landlord, Miami-based LNR Partners.
• Salon of Arlington signed a 1,200-square-foot lease at 6050 Airline Road, Suite 108.
NAI Saig vice president Hank Martin and affiliate broker Elliot Embry represented the landlord, Southeast Investments LLC.
Also, B&T Express, a startup trucking carrier business, signed a 1,700-square-foot lease at 4200 Lamar Ave., Suite 104.
Martin and Embry represented the landlord, SA Challenger Inc.
• Secure Watch LLC signed a 2,400-square-foot lease in Yorkshire Square, 5707 Quince Road.
Knoxville-based SecureWatch is an ADT home security authorized distributor that designs and installs home security systems.
Loeb Properties Inc. vice president of brokerage Aaron Petree represented the landlord, with no tenant representation.
Also, Jeanice Ng and Steven Chow Sea, owners of Sea Bistro, signed a 1,680-square-foot lease in Germantown Shops in Cordova, 830 N. Germantown Parkway.
Sea Bistro is a new French-Asian fusion restaurant owned and headed by New York City chef Steven Chow, former head chef at Eat Well Sushi & Grill in Bartlett.
Petree represented the landlord, with no tenant representation.
Cellular South Corporate renewed its 2,280-square-foot lease in the Belvedere Collection, 1680 Union Ave.
Joe Wright, senior vice president of Loeb Properties, represented the landlord. Bentley Pembroke, senior leasing associate for Commercial Alliance Management LLC, represented the tenant.
• Detrich and Nyteria Parrish, owners of The Hot Spot Restaurant, signed a five-year, 1,400-square-foot lease at Stage Coach Collections Shopping Center, 7124 Highway 64, Suite 101 in Bartlett.
The Hot Spot is a family restaurant primarily serving chicken wings, chicken tenders, salads, sandwiches and catfish.
Barry D. Maynard with Trezevant Realty Corp. represented the landlord, Underberg Property Management LLC, doing business as American Properties Co. GP.
There was no tenant representation in the deal.