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VOL. 128 | NO. 52 | Friday, March 15, 2013

Sarah Baker

SEND COMMERCIAL LEASE ANNOUNCEMENTS to Sarah Baker, who can be reached at 521-2464 or sbaker@memphisdailynews.com.

Apperson Crump Expands in Triad III

By Sarah Baker

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Memphis’ oldest continuously practicing law firm is expanding its presence in Triad III.

Apperson Crump PLC added 2,037 square feet to its seventh floor space in a vacant adjacent area between Silverleafe Capital Partners LLC.

Apperson Crump moved into the LEED-certified building at 6070 Poplar Ave. in December 2009, and the lease extension brings the firm’s total footprint to 27,000 square feet on the sixth and seventh floors.

Richard Myers, chief manager of Apperson Crump, said the expansion was prompted by client growth.

“We’ve got a number of clients that are expanding in the Far East, particularly with international tax and estate planning issues,” Myers said. “We’ve also got a couple of clients that are expanding into Europe and there are a lot of intellectual property issues we’ve got to deal with over there.”

While Apperson Crump has added some new hires, this particular expansion was driven by lawyers the firm already had in place. Apperson Crump has 31 attorneys, 11 of whom focus their work on tax and estate planning.

In recent years, the firm expanded into personal injury and medical malpractice litigation when Gary K. Smith of Gary K. Smith & Associates PLLC merged with Apperson Crump. And in January 2011, Smith-Kimbrough & Associates PC was brought under the Apperson Crump banner, a firm specializing in estate planning, asset protection, business and charitable planning and post-mortem settlement of trusts and estates.

Grinder, Taber & Grinder Inc. recently applied for an $111,930 building permit with the city-county Office of Construction Code Enforcement for Apperson Crump’s build out in Triad III. Myers said the additional office space should be completed by May.

John Mercer, director of leasing for Raleigh, N.C.-based Highwoods Properties Inc., handled the deal.

In other commercial leasing news, Covington, La.-based Pool Corp. has signed a 30,000-square-foot lease at 10600 Ridgewood Drive in Olive Branch.

Pool Corp. brands itself as the world’s largest wholesale distributor of swimming pool supplies, equipment and related leisure products. In Memphis, it operates sales centers at 1590 Century Center Parkway and 3131 Appling Road.

Larry Jones, branch manager with Pool Corp., said the 10600 Ridgewood distribution warehouse will accommodate growth in the company’s North Mississippi service area. Pool Corp.’s Appling Road location currently serves the West Tennessee, Missouri and Kentucky markets and was bursting at the seams.

“We’re serving our half of Mississippi out of (10600 Ridgewood), which we’ve got a good-sized market,” Jones said. “Olive Branch will serve as a new hub for eastern Arkansas and the north half of Mississippi, Highway 82 and up.”

Scott Pahlow, executive vice president with Newmark Grubb Memphis, represented the tenant in the five-year lease. Colliers International’s industrial team of Andy Cates and Preston Thomas represented the landlord, William H. Thomas Jr.

The new space will employ about nine full-time associates and will be open by April 3.

In other deals, Parker Hannifin Corp. signed a lease for 4,899 square feet of flex space at 3860 Forest Hill Irene Road.

Hanover, Germany-based ContiTech AG’s Fluid Technology business unit acquired Parker Hannifin’s Collierville-based Mobile Climate Systems division in August. This new lease is an offshoot of Parker Hannifin’s existing group at 1125 Schilling Blvd E.

Joel Fulmer, senior vice president at Boyle Investment Co., represented the tenant. Ron Riley, senior vice president at Colliers International Asset Services, represented the landlord, BACM 2007-1 Irene Road LLC, an entity of Miami Beach, Fla.-based special servicer LNR Partners LLC.

Meanwhile, DriveTime has leased the former car dealership at 6535 Winchester Road.

DriveTime specializes in selling used cars and providing financing to people with credit issues. This will be its second location behind its 2177 Covington Pike facility.

The three buildings on the property total 37,370 square feet on 5.23 acres. The landlord is Fort Lauderdale, Fla.-based AN/MNI Acquisition Corp., an affiliate of AutoNation.

Elliot Embry and Hank Martin with NAI Saig Co. represented AutoNation and were the only brokers involved in the transaction.

DriveTime is currently renovating the property and branding it to their standards, Embry said.

NAI Saig Co. also represented AutoNation on its $2.8 million purchase of 28.8 acres of land on Hacks Cross Road near its Tenn. 385 exchange. Under the entity American Way Motors Inc., AutoNation bought the vacant parcel from The Gurley Cos. LP in a Feb. 21 special warranty deed.

AutoNation will build a Dobbs Honda dealership on the site. The dealership will move from the location it has had at 2785 Mendenhall Road for 20 years.

The new dealership is a $10.5 million project that is expected to produce 30 jobs once completed. Shelby County Commissioners approved the plan in October.

PROPERTY SALES 76 133 1,342
MORTGAGES 83 131 1,047