VOL. 129 | NO. 21 | Friday, January 31, 2014
LeSaint Logistics Expands Memphis Footprint
By Amos Maki
Less than a year after arriving in Memphis, LeSaint Logistics is already expanding its operations here.
LeSaint entered the market in July when it leased an initial 57,285 square feet at 3300 Jet Cove inside Memphis International Airport Center. LeSaint is expanding its footprint by 34,015 square feet, a 60 percent increase.
LeSaint will now occupy 91,300 square feet in one of nine buildings inside MIAC.
Dino Moler, executive vice president of client solutions for LeSaint, said Memphis’ location and transportation infrastructure made the city a prime target for expansion for the company, an Illinois-based third-party logistics provider founded 30 years ago with 17 locations across the country.
“Memphis serves as a solid centralized distribution hub for many of our retail clients, and it was a strategic decision made with a current customer’s expansion needs,” Moler said.
LeSaint has more than 240 customers in the chemical, retail, beverage, pharmaceutical and industrial sectors.
Moler said MIAC, which is just three miles from the FedEx Corp. Super Hub and adjacent to the U.S. Postal Service facility, has been a perfect fit for LeSaint’s needs.
“It is conveniently located right off the major highway, the facility was move-in ready and the accommodation of the lessor was extraordinary,” Moler said.
MIAC has experienced strong activity since Cushman & Wakefield/Commercial Advisors was awarded leasing and management duties of the 1.1 million-square-foot portfolio in August 2012, when the park was below 50 percent occupancy.
Patrick Walton, vice president with the firm, is the leasing agent for MIAC and has arranged 10 new deals or expansions totaling 363,805 square feet. LeSaint’s expansion brings the park’s occupancy rate to 81 percent.
“LeSaint’s expansion is a testament to the strong partnerships we forge with our customers that enable their operations to grow under one roof," Walton said.
Walton represented the landlord, CSMC 2007-C1 Air Center LLC, and Elliot Embry with NAI Saig Co. represented LeSaint.
In other news, M.L. Mack Properties LLC recently purchased a 3,522-square-foot office building at 704 W. Brookhaven Circle for $357,500 for a dental practice, Mack Endodontics.
Dr. Edward Maurice Mack is the founder of Mack Endodontics. Endodontics is the dental specialty concerned with the study and treatment of the dental pulp.
Mack graduated from the Meharry Medical College of Dentistry and the University of Michigan’s graduate Endodontic Program. After completing college, Mack wanted to serve his country and joined the U.S. Army. While serving as a brigade dentist for the 82nd Airborne Division in Iraq, Mack was awarded the Combat Medical Badge and the Army Commendation Medal. Mack is a member of the American Association of Endodontics, Shelby County Dental Society and American Dental Association.
Ed Thomas, Henry Stratton and Andrew Phillips of Colliers International Memphis represented the sellers, William L. and Mitzi W. Oates. Robert Halsey with Capital Health Care Consultants represented Mack.