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VOL. 128 | NO. 189 | Friday, September 27, 2013

Amos Maki

SEND COMMERCIAL LEASE ANNOUNCEMENTS to Amos Maki, who can be reached at 603-4025 or amos@memphisdailynews.com.

Baptist Begins Construction on $14.1 Million Pediatric ER

By Amos Maki

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Baptist Memorial Health Care Corp. began construction this week on a new pediatric emergency department at Baptist Memorial Hospital for Women.

The $14.1 million pediatric emergency department is expected to open in spring 2015. It is the second phase of a long-term plan to transition pediatric services across campus from Baptist Memorial Hospital-Memphis to Baptist Memorial Hospital for Women in an effort to provide seamless care at the women’s hospital, where 5,000 babies are delivered each year.

The pediatric emergency room will expand to eight emergency room bays, compared with the five emergency room bays currently housed across campus at Baptist Memorial Hospital-Memphis. Two of those bays will be devoted to orthopedic care, four to respiratory care and two to general care.

Baptist’s footprint on and around its campus is growing.

In June, Baptist Memorial also began construction on an $84.8 million Cancer Center near the Baptist Memorial Hospital-Memphis campus. The center is slated to open in mid-2015.

The Baptist Cancer Center will offer diagnostic services, radiation oncology, oncology, chemotherapy and infusion services, Cyberknife (a non-invasive treatment for tumors), stem cell transplants and supportive services and survivorship care all under one roof.

In other commercial real estate news, Memphis staple Tops Bar-B-Q is slated to kick off construction of its newest restaurant, along the Poplar Avenue corridor in the heart of East Memphis.

Tops, one of the largest restaurant chains in the city, has filed a $595,000 building permit for the new location, 5144 Poplar Ave., next door to the Dunkin Donuts store. Gilluly and Associates LLC is listed as the contractor for the project.

The Poplar Avenue site will be the 15th location for the company, which was founded in 1952.

Gary Shanks, a broker with The Shopping Center Group LLC, represented Tops in its 20-year ground lease, while John Snyder with Sperry Van Ness Investec Realty Services represented the landlord.

It’s not the only restaurant addition to East Memphis.

Soul Fish Cafe is converting the old Wolf Camera space at 4720 Poplar into its newest restaurant. The 3,100-square-foot restaurant will mark Soul Fish’s third location in Memphis, behind its original spot in Midtown’s Cooper-Young district and its Germantown store near Forest Hill-Irene Road. The Poplar restaurant is slated to open in mid-October.

Mellow Mushroom is building its second Memphis-area location at Park Avenue and White Station Road.

The new restaurant, in the round building at 5138 Park Ave. that once housed a Union Planters Bank branch and, later, a AAA Auto Club Group location, joins the area’s first Mellow Mushroom, at the Shops of Forest Hill in Germantown.

In other news, the University Center development near The University of Memphis recently snagged two lease renewals, continuing a good leasing trend at the Loeb Properties Inc.-owned property at the southwest corner of Poplar Avenue and Highland Street.

RJ’s Custom Clothiers renewed its lease for 437 square feet at University Center, and Minuteman Press renewed its 1,254-square-foot lease there. Laura Warren represented landlord Loeb Properties in the transaction.

Earlier this year, 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 longtime home of Buster’s Liquors, along with Jason’s Deli and La Hacienda.

Meanwhile, Gregory Realty GP, an investment group in Germantown, has acquired roughly 70,000 square feet of office, retail and industrial space at 4210 Winchester Road and 4275 Winchester Road for $1.1 million.

Brian Califf with NAI Saig Co. represented the sellers, Wingood Partners and Commerce Park Associates.

Last year, Gregory Realty purchased South Pointe Business Park at 4200 Lamar Ave., 3615 S. Goodlett St. and 3623 E. Goodlett for $313,500. The three Class B flex warehouses were built in the 1980s and total 40,000 square feet.

PROPERTY SALES 56 289 2,908
MORTGAGES 55 226 2,009
BUILDING PERMITS 108 1,002 6,703
BANKRUPTCIES 42 248 1,225