VOL. 129 | NO. 81 | Friday, April 25, 2014
Conn’s Plans Home Store in Memphis
By Amos Maki
Texas-based retailer Conn’s will be opening a store in Southeast Memphis, one of possibly three stores the home appliances and furnishings chain plans to open in Tennessee.
The retailer will open a Conn’s HomePlus in May in 42,296 square feet at the Cross Creek Shopping Center at Riverdale and Tenn. 385 that Babies “R” Us vacated.
Conn’s currently shows locations for Memphis, Knoxville and Madison on the “Careers” section of its website.
Conn’s, which recently aired commercials in Memphis, has 75 retail locations in Texas, Louisiana, Oklahoma, New Mexico and Arizona. The company is in growth mode, saying it expects to add another 15 to 20 stores in 2014. Conn’s, which also provides consumer credit and financing, said same store sales in the fourth quarter rose an estimated 33.4 percent from the same period last year.
“We are excited about Conn’s business model and our growth opportunities,” Conn’s chairman and CEO Theodore M. Wright said in a statement announcing the company’s fourth quarter results. “Fiscal 2015 results will be influenced by the full-year impact of the 14 stores opened in fiscal 2014, the planned opening of 15 to 20 new Conn’s HomePlus stores and expected same store sales growth.”
Danny Buring of The Shopping Center Group LLC, along with CB Richard Ellis Houston, represented Conn’s in the transaction.
In other leasing news, Loeb Properties is reporting multiple lease renewals.
Buckley’s Fine Filet Grill, which has been celebrating 20 years in business, has renewed the leases at its two East Memphis locations.
Buckley’s renewed its 3,802-square-foot lease at 5355 Poplar Ave. and Buckley’s Lunchbox has renewed its 2,400-square-foot lease at 919. S. Yates Road.
Chris Heinz represented Loeb Properties.
Bermel’s Hair Salon has renewed its 1,500-square-foot lease at 2885 Poplar Ave., inside Chickasaw Crossing. Laura Warren represented Loeb Properties.
And Pancho’s Mexican Foods Inc. has will keep dishing out Mexican food at Cloverleaf Shopping Center in East Memphis.
Pancho’s recently renewed its 10,250-square-foot lease at Cloverleaf, at White Station Road and Summer Avenue. Chris Heinz represented Loeb Properties
A shuttered car dealership will be springing back to life.
The former Schilling Lincoln Mercury Dealership at 2660 S Mendenhall Road, which includes six acres and 46,000 of showroom and office space, has been leased to American Car Center LLC.
Brian Califf with NAI Saig Co. represented the landlord, Lunati Ticer Partnership. Hank Martin with NAI Saig Co. represented the tenant.