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VOL. 130 | NO. 11 | Friday, January 16, 2015

Amos Maki

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

Plans Emerge for Universal Life Building

By Amos Maki

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In major Downtown news, the on-again, off-again redevelopment of the Universal Life Insurance Co. building Downtown appears to be on.

Architect Jimmy Tucker said that Self Tucker Architects hopes to begin transforming the structure, located at Danny Thomas Boulevard and Dr. Martin Luther King Jr. Avenue, sometime this year.

Tucker’s previous plans for the historic Universal Life Insurance Building incorporated green strategies and materials.

Self-Tucker hopes to reuse existing building materials as well as use “sustainable carpet” made from bio-based or recycled content and interior molding and millwork and paneling made from recycled material.

A long-time local sporting goods store appears to have closed its doors in East Memphis.

The Tommy Bronson Sporting Goods store at 964 June Road is closed by all appearances. A brief visit on a recent Thursday morning found the doors locked. The phone at the business is never answered and the voice mail system is full.

Founded in 1926, Tommy Bronson has been the go-to store for hunting, fishing and wildlife for 89 years. It opened at 47 N. Waldran primarily as a supplier of tennis equipment before moving to 1672 Union Ave. in 1971.

Owner Cliff Hunter, who began working at the store in 1988 and bought into it in 1993, moved the store to the Poplar Plaza shopping center in 1988. But in 2013 Tommy Bronson opened a new 8,500-square-foot store on June Road just off Poplar in East Memphis.

In leasing news, Southpark Distribution Center has picked up a new tenant.

National Pool Retailers cooperative has inked a lease for 18,775 square feet at 4800 E. Shelby Drive, also known as Southbrook F.

Stan Myers with CB Richard Ellis Memphis represented the landlord, Tracy Speake of Paradigm Realty Advisors, LLC represented the tenant.

Southpark was the subject of quite a bit of activity in 2014.

Neotek Corp. Inc. is relocating there from Arlington. British tuxedo rental company ACS Clothing Limited was considering two sites inside Southpark, the location Neotek just leased and the building at 4400 Quality Drive.

Reflexion Automotive relocated to Southpark from Bellbrook Industrial Park, and Menlo Worldwide Logistics renewed its 120,050-square-foot lease inside the industrial park.

In other news, an office building that counts Saint Francis Hospital as a tenant has been sold.

Drs. Olugbenga and Adeola Flaye have purchased the 9,991-square-foot office building at 6644 Summer Knoll in Bartlett from First Tennessee Bank for $975,000.

Andrew Phillips, vice president of investment and retail brokerage service with Colliers International Memphis represented the seller. Ron Riley, senior vice president of office and asset service at Colliers also was involved in the transaction.

In other news, Maurice B. Buring has purchased an industrial flex space for $352,000.

Buring bought the Class B building at 3664 Cherry Road from Amy C. Howard. Howard, the seller, was represented by Henry Stratton, vice president of brokerage services, at Colliers International Memphis.

In more leasing news, The Shot Nurse renewed its 1,600-square-foot lease at Trinity Commons. Liberty Tax Service also renewed its 1,393-square-foot lease at Trinity Commons. Laura Warren represented Loeb Properties in both transactions.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 115 270 19,843
MORTGAGES 141 311 23,225
FORECLOSURE NOTICES 35 83 8,387
BUILDING PERMITS 0 338 40,366
BANKRUPTCIES 74 196 13,300
BUSINESS LICENSES 25 48 6,185
UTILITY CONNECTIONS 40 125 13,120
MARRIAGE LICENSES 15 73 4,915

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