VOL. 127 | NO. 185 | Friday, September 21, 2012
Snyder’s-Lance Signs Deal In Southaven
By Sarah Baker
A well-known snack food company has boosted its distribution presence in the Memphis area.
Snyder’s-Lance Inc. signed a 26,757-square-foot lease at Airways Distribution Center Building F, 8425 Airways Blvd., in Southaven.
The Charlotte, N.C.-based firm manufacturers and markets pretzels, sandwich crackers, potato and tortilla chips, restaurant style crackers, cookies and nuts. Snyder’s-Lance has manufacturing facilities in North Carolina, Pennsylvania, Iowa, Indiana, Georgia, Arizona, Massachusetts, Florida, Ohio, and Ontario, Canada.
The company’s new distribution center in northwest Mississippi will increase its operations in the area while creating six new jobs, said company spokeswoman Andrea Bartman.
“This warehouse is perfect for us because it’s centrally located,” Bartman said. “It does a lot for us in providing with excellent access into the Memphis area, and it also allows for easy access into Alabama and Mississippi.”
The lease brings Airways Distribution Center’s 2.7 million square feet to full occupancy. The Class A business park is home to tenants like Kimberly-Clark Corp., Siemens Building Technology Inc., Bunzl Distribution, PFSweb Inc. and StyleCraft Home Collection Inc.
Patrick Burke, senior vice president with CB Richard Ellis Memphis, represented the tenant. Tim Moore, vice president of leasing for Atlanta-based Industrial Developments International Inc., represented the landlord.
• In other commercial leasing news, Harland Financial Solutions inked 11,433 square feet in Shadow Creek II, 3340 Players Club Parkway.
The Lake Mary, Fla.-based financial technology firm is a national provider of banking software. Harland Financial will relocate from a 7,981-square-foot space in nearby Southwind Village Center by the end of October.
The tenant was represented by Henry Stratton, vice president of brokerage services with Colliers International Memphis and Clint Dansby, executive vice president at Dallas-based Strategic Realty Consultants LLC. Tony Argiro, director of leasing with Raleigh, N.C.-based Highwoods Properties Inc., represented the landlord.
Argiro said Harland Financial’s new lease speaks to the viability of Shadow Creek II’s location and design. For example, when Nationwide Insurance closed its Memphis office and vacated the building’s third floor last year, the space was backfilled with Qsource a few months later. And in this case, Harland Financial’s office will promptly fill the space left available by Integra Logistics LLC.
“It’s a building that in and of itself has a flexible layout to it,” Argiro said. “It’s able to accommodate different users from different backgrounds.”
• Meanwhile, E’s 24 Hour Café signed a lease with Sloan Properties for existing 1,400-square-foot CK’s Coffee Shop building at 1308 Union Ave., as well as a ground lease for the 6,795 square feet of land across from Methodist University Hospital.
E’s 24 Hour Café is owned by The Tushek Co. LLC, made up of Eric Tushek, who also owns four local TCBY stores, and his stepfather, Rip Crain. The restaurant, which inked its first lease in July at 4275 Summer Ave., is similar in price point to the old Dobb’s House and CK’s Coffee Shop, yet slightly more upscale and inviting.
“E’s is opening after a total remodel: new furniture, fixtures, walls, floors, ceilings, bathrooms, and parking lot re-paved,” Crain said. “We should have it open before the end of the month.”
The Tushek Co. LLC has hired general manager Ron Eanes, who has more than 20 years of experience in the restaurant business. Crain said Eanes’ expertise includes new store development and turnaround of under-performing stores.
Barry D. Maynard, broker with Trezevant Realty Corp., represents E’s 24 Hour Café exclusively, but handled both the landlord and tenant in negotiations.
Maynard said E’s 24 Hour Café will eventually branch out with catering and is also in talks about opening some mobile food trucks to visit venues like fairs, concerts, Downtown events and festivals.
“We are excited about being able to re-open some of the closed CK’s Coffee Shops locations, as they have been a staple to the Memphis community for such a long time, with a similar concept while at the same time helping fill up retail and restaurant commercial real estate vacancy in the Memphis metro markets,” Maynard said. “We are aggressively looking to open many more good sites in the near future.”
• In other deals, G&S Electrical Services LLC signed a three-year lease extension for 11,250 square feet in Bellbrook Industrial Park, 3146 Norbrook Drive.
The locally owned and operated electrical and lighting contractor provides maintenance, repairs and improvements to about 2 million customers in the tri-state area. G&S, an authorized Generac generator dealer, has nine full-time employees and generates $1.3 million in annual sales.
Steve Slover, secretary/treasurer of G&S Electrical Services, said the company’s prime location in Bellbrook allows the firm to easily tap into its customer base.
“We’re centrally located at the intersections of Interstate 55 and I-40,” Slover said. “We’ve got access to all of Northern Mississippi, all of West Tennessee – we’re at the juncture of two major interstates. Pretty much we can get on the road fairly quickly.”
Bryce Daves, associate with CBRE, handled the deal.