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VOL. 130 | NO. 138 | Friday, July 17, 2015

Amos Maki

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

Biomedical Company Expanding in Southeast Memphis

By Amos Maki

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Cognate Bioservices Inc. is launching a 32,500-square-foot expansion at its manufacturing facility at 4600 E. Shelby Drive in southeast Memphis near Lamar Avenue.

Baltimore-based Cognate Bioservices is a fully integrated contract biotech firm that provides development and manufacturing services for companies and institutions developing cell-based products.

The expansion will cost about $9.4 million, according a building permit application.

• As part of the fallout from Cummins Inc.’s pending expansion, Stein World has found a new home.

The manufacturer and distributor of hand-painted furniture and other home accessories, has inked a long-term lease for the 345,700-square-foot distribution center at 5321 Shelby Drive.

Cummins is preparing to expand into the current Stein World space at 5800 Challenge Drive.

Pavo Salon is opening a new location in Midtown.

Pavo, which is an Aveda Lifestyle Salon, inked a lease at 2157 Central Ave., in the retail center at Central and Cooper Street.

The salon, which has its original location at Laurelwood Shopping Center in East Memphis, will feature15 stations and could be open in September.

• In other news, the Shops of Collierville is experiencing a little leasing momentum.

His and Her Consignment has signed a lease for 1,700 square feet at 875 W. Poplar Ave., suite 5, inside the Shops of Collierville, located on West Poplar just west of New Byhalia Road.

In addition, Sear Shack Burger & Fries has leased 1,700 square feet in suite 6 at the Shops of Collierville.

Other tenants in the center include Starbucks, Fuji Café, Back Yard Burgers and a host of others. Built in 1993, the Shops of Collierville totals 60,229 square feet.

Barry Maynard and Frank Dyer of Loeb Realty Group represented landlord CW Capital.

Green River Industries has found a Memphis location.

Green River is leasing 2,660 square feet at 2170 Business Center Drive in Perimeter Point Business Park, north of Mount Moriah Road.

Elliot Embry and Hank Martin of NAI Saig Co. represented the landlord.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 101 603 9,602
MORTGAGES 92 538 10,616
FORECLOSURE NOTICES 3 40 1,289
BUILDING PERMITS 215 1,282 20,958
BANKRUPTCIES 51 408 6,108
BUSINESS LICENSES 20 154 3,939
UTILITY CONNECTIONS 31 124 2,892
MARRIAGE LICENSES 21 111 2,021