VOL. 128 | NO. 135 | Friday, July 12, 2013
LeSaint Logistics Leases Space Near Airport
By Amos Maki
LeSaint Logistics LLC is entering the Memphis market, having recently leased 57,285 square feet at 3300 Jet Cove.
LeSaint, an Illinois-based third-party logistics provider founded 30 years ago with 17 locations across the country, said Memphis’ location and transportation infrastructure made the city a prime target for expansion.
LeSaint’s location is near Memphis International Airport, three miles from FedEx Corp.’s Superhub and adjacent to the United States Postal Service facility. LeSaint has more than 240 customers in the chemical, retail, beverage, pharmaceutical and industrial sectors.
“Memphis is geographically an ideal location for LeSaint to be opening up another facility,” said Dino Moler, executive vice president of client solutions for LeSaint. “With our partner approach with our customers, we know where our customers are focusing their growth and that intelligence allows us to be proactive and engineer solutions that will allow them to grow.”
Elliot Embry with NAI Saig Co. represented LeSaint. Patrick Walton with Commercial Advisors/Cushman & Wakefield represented the landlord.
• In other news, Memphis-based StatLink has signed a lease for office space at 7990 Trinity Road in Cordova in Trinity Place. The diagnostic data management and medical billing company will remain in its current location at 3320 Park Ave. in East Memphis until the move in August.
StatLink’s new office space in Trinity Place is 2,300 square feet and features up to seven offices, conference rooms and medical test interpretation center depending on final buildout plans. The lease was administered through Altus Real Estate Advisors LLC.
“We are very excited about this move as it signifies the growth that this company has experienced in the past year,” said Dana Capocaccia, president and CEO of StatLink, which was founded in 2006 and has offices in Dallas and Houston. “The increase in office space and IT infrastructure will be instrumental in our efforts to continue expanding our services.”
Trinity Place has been on a roller-coaster ride over the last several years.
Atlanta-based Altus purchased Trinity Place for $2.8 million in 2011. In January 2009, the 47,923-square-foot neighborhood center sold for $4.3 million following a foreclosure in a trustee’s deed to JPMCC 2006-LDP7 Trinity Place LLC. That entity bought the property from Harris P. Quinn serving as trustee.
The previous owner, California-based Kapree Trinity LLC, defaulted on a $6.5 million loan through LaSalle bank NA after buying the center for $7.9 million from Crews Trinity Place LLC.
Built in 1998, the center sits on 4.62 acres at the northwest corner of Trinity Road and Germantown Parkway. It features traffic counts of about 63,000 vehicles per day.
• Mid-South Foot & Ankle Specialists PLLC is relocating its Cordova office. It recently signed a new lease for around 4,000 square feet at 8055 Club Parkway. The practice will leave its current location at 8200 Old Dexter Road.
Jeb Fields of Commercial Advisors/Cushman & Wakefield represented Mid-South Foot & Ankle. Conner Walker of Commercial Advisors/Cushman & Wakefield represented the landlord, Methodist Le Bonheur Healthcare.
• The University Center development near the University of Memphis has seen good leasing activity of late.
The Loeb Properties Inc.-owned property at the southwest corner of Poplar Avenue and Highland Street recently saw a lease renewal on the heels of a new lease.
The Church of Jesus Christ of Latter-day Saints signed a three-year renewal for 999 square feet while Black & Veatch Inc., a global engineering and consulting firm, signed a new lease for 3,866 square feet.
The 90,800-square-foot shopping center is the long-time home of Buster’s Liquors, along with Jason’s Deli and La Hacienda.
Laura Reece represented Loeb Properties in the transactions.
• In other news, Rainey Kizer Reviere & Bell PLC has renewed its lease at Raymond James Tower Downtown.
The law firm with offices in Jackson, Tenn., and Memphis has grown to 40 attorneys since it was founded in 1975.
Jeb Fields from Commercial Advisors/Cushman & Wakefield represented the tenant. Heather Murchison from Parkway Realty represented the landlord.