VOL. 126 | NO. 89 | Friday, May 6, 2011
Memphis Pride Signs Lease At Trinity Ridge
By Sarah Baker
An up-and-coming Mid-South cheer and tumbling company has signed a new lease to expand its business, a move that will benefit the facility’s students and parents alike.
Memphis Pride is relocating from a 5,000-square-foot space in Cordova Industrial Park to 16,080-square-foot lease at 7740 B Trinity Road, suite 126.
The full-service gym offers cheer, dance, choreography, music and tumbling programs.
Brad Murchison, senior associate with CB Richard Ellis Memphis, represented the landlord, Trinity Ridge Business Center.
Colliers International’s industrial team of Preston Thomas, Andy Cates and Mike Driscoll represented the tenant.
The new location was ideal to Memphis Pride because the company that previously occupied the space was in the same line of business, Thomas said.
“They were able to utilize all of the existing improvements – from office space to the air-conditioned warehouse to the column spacing that allows for their mats,” Thomas said. “They also had a large viewing area on top of the office for the parents. All of these improvements made it so that the landlord didn’t have to spend any money to get them in there, therefore they were able to get a very competitive lease rate and terms.”
Memphis Pride is currently open for business.
CBRE announced a handful of other transactions in recent weeks at Trinity Ridge Business Center.
SIMCO Electronics signed a new 3,650-square-foot lease at 7730B Trinity Road.
SIMCO is an independent provider of global calibration, repair and software solutions.
Murchison represented the landlord, Trinity Ridge Business Center. Matt Weathersby, principal with Commercial Advisors LLC, represented the tenant.
This will be Sunnyvale, Calif.-based SIMCO’s entrance into the Memphis market.
The location off Trinity Road will be used to better service Siemens, one of the firm’s clients, Murchison said.
Fort Knox Security LLC has signed a new 2,400-square-foot lease at 7730B Trinity Road.
Murchison represented Trinity Ridge Business Center. Cates, Thomas and Driscoll represented the tenant.
“Location was better suited for their business and closer to all of their customers,” Murchison said.
Crossfit Memphis has signed a new 7,119-square-foot lease at Trinity Ridge. Crossfit Memphis provides strength and conditioning services.
CBRE associate Bryce Daves represented the landlord. Laura Trezevant, owner of Trezevant Commercial Brokerage, represented the tenant.
“They were located in Bartlett and were busting at the seams to try to get a larger facility to that they could grow their clientele,” said Trezevant, adding that Crossfit expects to open within the next 45 days.
Also, CiCi’s Pizza has renewed its lease on 3,894 square feet at the Oak Hill Shopping Center, 99 Old Hickory Blvd. in Jackson, Tenn. Alex Turley, senior associate with CBRE, represented the landlord.
In other deals, Universal Glass has purchased the former 11,275-square-foot automotive facility at 3695 Lamar Ave. from Regions Bank for $65,000.
The Memphis-based company repairs and replaces automotive glass.
NAI Saig Co. vice president Hank Martin and affiliate broker Elliot Embry represented Regions Bank. This is the third property NAI Saig has sold for Regions Bank and will be a second location for the tenant, which recently moved to a 13,000-square-foot facility at 500 N. Hollywood St.
“They wanted to get into a different market in the city, and with Lamar being a high-traveled street, it provided them a great opportunity,” Embry said.
Select Staffing has signed a new 3,000-square-foot lease at Kirby Gate East, 6635 Quince Road, suite 107.
Built in 1990, Kirby Gate East is a 24,300-square-foot office building located near Quince and Kirby roads off Tenn. 385.
Greg deWitt, vice president with Grubb & Ellis Memphis, represented the landlord, Willow Grove LLC, in the five-year deal. Liam Murphy, associate with Hayes Commercial Group, represented the tenant.
The Santa Barbara, Calif.-based staffing company is relocating to a bigger space that it will use to recruit workers for its clients, deWitt said.
In other Grubb & Ellis news, Mary Beth Harris Jewelry leased 1,200 square feet in the First Capital Building, 555 Perkins Road Extended.
Liza Creech, former marketing and leasing representative for Grubb & Ellis, along with the firm’s president, Joe Steffner, were the only agents involved.
Harris was formerly located in the Hobson Building with a group of jewelers and decided to start her own venture, deWitt said.