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VOL. 129 | NO. 101 | Friday, May 23, 2014

Amos Maki

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

Kyocera Inks ProLogis Park Lease Renewal

By Amos Maki

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ProLogis has landed a major renewal at one of its industrial parks.

Kyocera Document Solutions America Inc., which manufactures and markets network-ready digital copiers and printers, laser printers, color copiers and printers, digital laser facsimiles and multifunctional, wide-format imaging products, has renewed its lease for 300,000 square feet at 5510 Getwell Road in Memphis.

The building is inside ProLogis Park Stateline at Getwell and Stateline Road in Southeast Memphis.

The 300,000-square-foot renewal is one of the largest leases in the Memphis industrial market so far this year and a major boost to the Southeast submarket, which has been losing deals to Northwest Mississippi, particularly DeSoto County.

Patrick Burke and Bobby Daush with CB Richard Ellis Memphis represented Kyocera, while Jenny Cupp of ProLogis represented the owner.

In other leasing news, a new fitness center is opening on the third floor of the 148,000-square-foot Triad III office building in East Memphis.

Infinity Fitness has leased 5,700 square feet at the Highwoods Properties office building at Poplar Avenue and Shady Grove Road in East Memphis. This is the second Infinity Fitness location for owners Tiffany Adkins and Julie Cantrell, who opened their first location on the lower level of Tower 2 at International Place, the headquarters of Memphis-based International Paper.

“We are making fitness available and convenient for corporate America,” said Adkins. “We take the gym to these guys and girls.”

Adkins said Infinity Fitness isn’t open only to the employees in those buildings and the general public is welcome to become clients.

“It’s not just for corporate America,” Adkins said. “Our locations are convenient to everyone in the Memphis area.”

Instead of large classes with blaring music, Infinity Fitness prefers to offer a more personal touch.

“We’re geared toward personal training and small groups,” Adkins said. “We’re really geared toward providing a more personal training experience and private lessons.”

John Mercer represented landlord Highwoods Properties.

In other news, a law firm is now calling Southwind Office Center home.

The Stewart Law Firm has leased 3,428 square feet at 8275 Tournament Drive in Southwind.

Melanie Stewart, founder of the five-lawyer firm specializes in insurance defense, needed to downsize from her previous location in Germantown but wanted to remain in the same vicinity.

“I needed to downsize, but I wanted to stay in this general area,” said Stewart. “We looked at several different buildings in the area, and I liked this one the best. It is just beautiful here, very peaceful.”

Stewart heaped praise on Southwind Office Center landlord Highwoods Properties.

“The property manager brought us a dozen Muddy’s Bake Shop cupcakes,” Stewart said. “Can you believe that? That’s really something little, but it made me feel so good. They have gone above and beyond to get me in this space, and I appreciate that.”

Stewart’s lease brings occupancy at the seven-building, 492,000-square-foot office complex to around 85 percent.

“I think Southwind is a very viable alternative to the East Memphis Poplar Avenue corridor,” said Tony Argiro of Highwoods Properties. “The vacancy rates have got very tight on Poplar and I think that’s pushing people to us, and this is a great property. You’re on a golf course. You won’t be looking out of your window at a surface parking lot; you’ll be looking at a golf course.”

PROPERTY SALES 83 405 4,276
MORTGAGES 104 424 4,814
BUILDING PERMITS 148 883 10,151
BANKRUPTCIES 53 264 3,149