VOL. 131 | NO. 155 | Thursday, August 4, 2016
Memphis Real Estate Recap
Frost Bake Shop Opens Second Location
By Madeline Faber
1016 W. Poplar Ave
Collierville, TN 38017
Address: 1016 W. Poplar Ave
Square feet: 3,400
Tenant: Frost Bake Shop
Owner: Jason Crews Partnership
Details: Frost Bake Shop is opening its second location this month, at 1016 W. Poplar Ave. in Collierville.
The opening on Aug. 16 will include a ribbon-cutting at 11:30 a.m. As part of the opening, Frost also plans to donate 20 percent of sales from Aug. 19 through Aug. 21 to the Collierville Education Foundation.
Frost’s new 3,400-square-foot store in Collierville is larger than the original bake shop in the Laurelwood Shopping Center, which has 2,000 square feet. With the size increase comes a room for private parties and cake decorating classes, as well as space for a selection of coffees and espressos, including a specialty Frost blend created by Ugly Mug Coffee.
8010 Stage Hills Blvd.
Bartlett, TN 38133
Sale Amount: $1.4 million
Sale Date: July 27, 2016
Buyer: D3 Bartlett LLC
Loan Amount: $1.5 million
Loan Date: July 27, 2016
Maturity Date: February 2027
Lender: Commercial Bank
Details: An office building in Bartlett Corporate Park has sold for $1.4 million. D3 Bartlett LLC purchased the property at 8010 Stage Hills Blvd. from Med-A.R.M. in a July 27 warranty deed.
The single-story, Class C office building was built in 1998 and bears 17,920 square feet. It is situated on 3 acres on the south side of Stage Hills Boulevard west of North Germantown Parkway. The Shelby County Assessor most recently appraised the property at $1.5 million.
In conjunction with the sale, D3 Bartlett filed a $1.5 million construction loan with Commercial Bank. The loan matures in February 2027.
77 S. Second St.
Project Cost: $50,000
Completion: Aug. 14
Contractor: Traditional Construction
Details: Huey’s Downtown location is closing soon for a few days to get a facelift.
The Huey’s location at 77 S. Second St. will close to the public for seven days – Aug. 8 through Aug. 14 – to pursue some needed renovations. With the help of Traditional Construction, the location will see upgrades that include the kitchen getting new floors, a new walk-in freezer and a new sink.
At the bar, one ice machine will be rearranged to allow for more bar seating. Two flat-screen televisions will be added behind the bar, and exterior work includes a new awning and new signage.
The estimated cost of renovations is $49,000.
All other Huey’s locations will be open for business as normal.
8540 U.S. Highway 51 North
Millington, TN 38053
Permit Amount: $3.1 million
Owner: Ryan Commercial Properties
Tenants: Ross Dress for Less, Dunham Sports, PetCo Animal Supplies Store, Rack Room Shoes
Contractor: Linkous Construction Co.
Details: Construction has begun on the Shops at Millington Farms.
Developed by Ryan Commercial Properties, the retail strip will bring 136,000 square feet of new commercial space to Millington at 8540 U.S. Highway 51 North.
A handful of building permits recently approved by the Memphis-Shelby County Office of Construction Code Enforcement kicked off tenant improvements to the building.
Linkous Construction Co. filed a $962,985 permit for construction of Ross Dress for Less; a $899,339 building permit for Dunham Sports; a $766,771 permit for PetCo Animal Supplies Store; and a $501,000 permit for Rack Room Shoes.
165 Madison Ave.
Memphis, TN 38103
Permit Amount: $3.9 million
Completion: Third quarter 2017
Owner: First Horizon National Corp.
Tenant: First Tennessee Bank
Contractor: Linkous Construction
Details: First Horizon National Corp. is renovating its First Tennessee Bank headquarters at 165 Madison Ave.
Linkous Construction recently filed four separate building permits totaling $3.9 million in construction. The permits list renovations for the 6th floor, 7th floor, 11th floor and 13th floor. First Horizon is listed as the owner and tenant in the permits.
First Tennessee currently operates out of the first 15 floors and the 23rd through the 25th floors. Law firm Baker, Donelson, Bearman, Caldwell & Berkowitz is the next largest tenant in the building.