VOL. 126 | NO. 216 | Friday, November 4, 2011
Capitoline Moves To SE Memphis Center
By Sarah Baker
A Rome, Ga.-based surface components manufacturer is relocating its distribution facility to the Southeast Memphis industrial submarket.
Capitoline Products has signed a 23,500-square-foot lease at 5805 Advantage Cove, confirmed the firm’s co-owner, L.G. Smith. The company is currently located off Lamar Avenue.
“We’re moving to what we consider a little nicer location,” Smith said. “The layout of the building is better, No. 1, and for security reasons, I think it’s a better location. Basically, we’re getting a little better deal on the lease, getting more building for the money and it’s closer for all of the employees.”
Built in 1997, the 39,000-square-foot warehouse is in the Hickory Hill Industry Park and owned by European Industrial Products Inc., according to the Shelby County Assessor of Property.
Ed Larkin, industrial division director for Memphis Commercial & Industrial Real Estate, negotiated the deal for both parties, Smith said.
Capitoline Products, which employs 10, anticipates to be in its new location by Jan. 1.
• In other commercial leasing news, WorkCare Inc. has signed a 1,375-square-foot lease in Nonconnah Corporate Center, 2603 Corporate Ave.
WorkCare is an occupational health care firm based in Anaheim, Calif. Ed Larkin of Memphis Commercial & Industrial represented the tenant, which is new to the Memphis market.
Nonconnah Corporate Center is a 1.1-million-square-foot, multipurpose business park with more than 800,000 square feet of office/flex buildings and more than 350,000 square feet of industrial space.
WorkCare vice president Randy Muyargas said the center’s prime location near Interstate 240 between Airways Boulevard and Millbranch Road was ideal for tapping into its customer base.
“WorkCare Inc. is opening up a location in Memphis because of a new contract with a certified drug testing and occupational medicine laboratory located only minutes away,” Muyargas said. “We are also opening up this location in Memphis to take advantage of cost and time savings related to being in close proximity to the FedEx hub. Nonconnah Corporate Center gave us a location that fits our needs and allows us to serve our clients better.”
Cushman & Wakefield/Commercial Advisors Asset Services’ vice president Phil Dagastino Jr. and senior leasing associate Conner Walker represented the landlord.
• Captain JJ’s Fish & Chicken, owned by Elias Ghosheh & Naser Altamimi, has signed a five-year, four-month lease for 2,100 square feet at Summer Center at 4300 Summer Ave.
The tenant is taking about 50 percent of the recently closed Blockbuster video space that sits in a freestanding outparcel in front of the shopping center, which is anchored by Kroger and Ross Dress For Less.
Barry D. Maynard, affiliate broker with Trezevant Realty Corp., represented the tenant, while Justin Latone with Houston-based Weingarten Realty, represented the landlord.
This will be the restaurant’s 10th location in the Mid-South – including locations in Mississippi, Tennessee and Arkansas – with several more being negotiated and plans to have at least 20 stores up and running within the next year, Maynard said.
“Captain JJ’s Fish & Chicken own some freestanding stores and lease several others,” he said. “They are currently in an aggressive expansion search for locations in three states.”
Also, Berryhill Quickstop, owned by Abdulahi Sharif and Hajera Abdulhafiz has signed a 10-year, four-month lease for 2,135 square feet at The Shops of Berryhill in Cordova.
Maynard represented the tenant. Gary Shanks, broker with The Shopping Center Group LLC, represented the landlord, Berryhill 169 LLC.
• And Zen Nails Spa LLC has signed a five-year lease for 1,300 square feet at Corner Shops of 64.
Dede Malmo, president of MalmoMemphis Real Estate Inc., represented the landlord.
The lease completes 100 percent occupancy for the 13,000-square-foot retail center located at the southeast corner of U.S. 64 and Houston Levee Road.
Developed in 2005, the center includes Bank of Bartlett, Baskin Robbins, H&R Block, Redfish Sushi & Asian Bistro and Chilcutt’s Martial Arts.