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VOL. 130 | NO. 128 | Thursday, July 2, 2015

Amos Maki

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

Fino’s Taking a Bite Out of East Memphis

By Amos Maki

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The Brookhaven Circle area, an emerging restaurant row in the heart of East Memphis, is welcoming a new neighbor.

Jerry Wilson, owner of Fino’s from the Hill at 1853 Madison Ave. in Midtown, has acquired the property at 703 W. Brookhaven Circle in East Memphis for $526,600.

The original Fino’s, specializing in Italian food and deli dishes, will remain open and the new location, Fino’s East, will serve much of the same fare.

The new restaurant is located between Brookhaven Pub & Grill and Hog & Hominy in an area where several independent restaurants already are operating.

“We are really looking forward to adding Fino’s East to the growth of ‘The Circle,’” Wilson said. “We’re building a nice family of independent business owners along ‘The Circle’ who work together to make the whole better than the sum of the individual parts.”

Landon Williams, vice president of Cushman & Wakefield/Commercial Advisors, said there is a movement afoot in parts of East Memphis to create a more pedestrian-friendly environment and complement the emerging restaurant scene.

“The people who live and work in the Northeast quadrant of Poplar and Mendenhall are excited about the continued development of a more walkable area,” Williams said. “Fino’s is going to be a fantastic addition to a developing restaurant row on Brookhaven Circle.”

• A Michigan-based belts and hose manufacturer has settled on a location for its North American distribution center.

Dayco Products LLC has selected Centerpoint III at 3530 E. Raines Road.

Dayco had been considering multiple locations for the new, 400,000-square-foot facility, which will be the company’s primary North American distribution center.

In addition to Centerpoint III, Dayco also considered the facility at 4755 Southpoint Drive.

The company was granted a five-year payment-in-lieu-of-taxes incentive from the city-county Economic Development Growth Engine in May. The tax break will save the company around $1.2 million while producing roughly $3.6 million in new tax revenue, or $3.08 for every $1 abated.

Dayco said it will create 174 new jobs, with an average salary of $26,753.

• The Thomas Family Law Firm PLC is on the move.

Justin Thomas of Thomas Family Law recently purchased the historic Whitlow Home at 7642 Old Poplar Pike near Germantown High School.

Thomas, who said he had been looking for a space with “old-school character and charm,” found just what he was looking for at the Whitlow Home.

Originally built in the 1840s by Dr. and Mrs. Cornelius Thompson, the historic building has served as a schoolhouse, Civil War refuge and an antique store before becoming a law office.

Thomas said that after making some aesthetic improvements, such as painting the exterior of the building white with black shutters, and making it office-ready, he expects to open in mid-August.

“I’ve been looking for several years for a building that had character and charm and this had both,” said Justin Thomas.

Rosemarie Fair represented the seller while Chris Garland represented Thomas.

Christ Community Health Services is making a major investment in Raleigh.

Christ Community has leased 16,000 square feet at Raleigh Springs Marketplace at 3750 Austin Peay Highway.

It will open inside a space formerly occupied by discount store chain A.J. Wright.

The owners of Raleigh Springs Marketplace are seeking to make the best of circumstances at nearby Raleigh Springs Mall, which the city of Memphis hopes to acquire and transform into a town center with a mix of government services and private businesses.

“We are excited about the opportunity to shore up the leasing at the Raleigh Springs Marketplace and we look forward to having the premier-located center across from the new civic mall planned by the city of Memphis,” said Shawn Massey of The Shopping Center Group LLC. “This will be a good thing for the whole Raleigh community.”

Jeb Fields of Cushman & Wakefield/Commercial Advisors represented Christ Community. Massey and Robert Sloan of The Shopping Center Group represented Raleigh Springs Marketplace.

• In other news, an attorney is taking space at the venerable Clark Tower in East Memphis.

Attorney Keith Dobbs has leased 945 square feet at Clark Tower, located at 5100 Poplar Ave. in East Memphis.

Anna Tranum and Phil Dagastino Jr. of Cushman & Wakefield/Commercial Advisors represented landlord In-Rel Properties.

PROPERTY SALES 93 424 6,970
MORTGAGES 42 281 4,410
BUILDING PERMITS 196 704 16,619
BANKRUPTCIES 38 174 3,570