VOL. 129 | NO. 247 | Friday, December 19, 2014
Conn’s Inc. to Open Second Store in Memphis
By Amos Maki
Specialty retailer Conn’s Inc. will open a second store in Memphis, the second of possibly three stores the Texas-based home appliances and furnishings chain plans to open in Tennessee.
The retailer has inked a 10-year lease for a Conn’s HomePlus store in a nearly 51,000-square-foot space in Austin Peay Plaza at 3250 Austin Peay Highway.
In May, Conn’s opened its first Memphis area location in 42,296 square feet at the Cross Creek Shopping Center at Riverdale Road and Tenn. 385 that Babies “R” Us vacated.
Conn’s, which has aired commercials in heavy rotation in Memphis, has 75 retail locations in Texas, Louisiana, Oklahoma, New Mexico and Arizona. The company is in growth mode, saying it expected to add 15 to 20 stores by the end of 2014.
Danny Buring of The Shopping Center Group LLC, along with CB Richard Ellis Houston, represented Conn’s in the transaction. Frank Dyer III and Barry Maynard of Loeb Realty Group represented the landlord, Merchants Walk at Austin Peay LLC.
• These are interesting times for Poag Lifestyle Centers.
Memphis-based Poag is the driving force behind The Outlet Shops of the Mid-South in Southaven, but recently brought Tanger Outlets, which has a portfolio of 44 outlet centers in 26 markets in the U.S. and Canada, aboard, according to a report this week in The Daily News. Now there is word that Poag will be bringing a new retailer to the market, with H&M slated to open a store at the Carriage Crossing lifestyle center in Collierville in 2015. Stockholm-based Hennes & Mauritz AB, better known as H&M, is Europe’s second-biggest clothing retailer.
• In other news, the One Commerce Square office tower Downtown has picked up a new tenant.
Tamburrino Inc., a Memphis-based IT strategy, support and management company, has signed a lease for 1,757 square feet at the One Commerce Square tower, located at 40 S. Main St.
The firm is relocating from 1460 Madison Ave. and is increasing its footprint by almost 800 square feet from its current space. There will be five offices in Tamburrino’s new space at One Commerce Square, as opposed to the three offices the firm now occupies in Midtown.
Tamburrino provides IT services to small- and medium-sized businesses, several of which are housed Downtown, including archer-malmo.
“We’re beyond excited to bring Tamburrino Inc. to the core of Downtown, where most of our clients are located,” said Patrick Tamburrino, president and lead technostrategist of Tamburrino. “Our new suite in One Commerce Square will give us the ability to expand as our business continues to grow.”
The proposed move-in date is Feb. 1. Tamburrino Inc. will occupy Suite 2190 on the 21st floor of the Downtown skyscraper.
Bentley Pembroke of Cushman & Wakefield/Commercial Advisors represented the landlord in the transaction.
• In other news, AT&T has renewed a lease in Midtown. AT&T is renewing its 4,200-square-foot lease at 2282 Union Ave. Chris Heinz represented landlord Loeb Properties.