VOL. 132 | NO. 180 | Monday, September 11, 2017
Memphis Real Estate Recap
Tennessee Taco Opens in Former Los Compadres Space
Patrick Lantrip & Andy Meek
3295 Poplar Ave., Memphis, TN 38111 (Map data ©2017 Google)
3295 Poplar Ave.
Memphis, TN 38111
Tenant: Tennessee Taco Co.
Owners: Ben McLean and Rob Ray
Details: Ben McLean, co-owner of the Overton Square burger restaurant Belly Acres, has been thinking about expanding his Memphis-area restaurant interests for a few years now.
Next week, that appetite for something new will see the opening of McLean’s second eatery, Tennessee Taco Co., in the Poplar Avenue space formerly occupied by Los Compadres.
Ben McLean and Belly Acres chef Rob Ray are launching their restaurant at 3295 Poplar Ave., which they took inspiration in part from Torchy’s Tacos in Austin, Texas, on Monday, Sept. 11. The new restaurant’s menu will feature about two dozen street tacos – Ray calls them “progressive tacos” – along with several different sides and salads, as well as fresh guacamole and doughnuts of the day.
“We’ve got quesadillas, we’ve got a big burrito, fun appetizers,” McLean said. “We’ve got what we call pot o’tots, and it’s literally a kettle of tater tots with things like queso and cheddar and sausage on them. So it’ll be just good, fun food. A lot like Belly Acres, the quality of Belly Acres – but tacos.”
Fans of Belly Acres should recognize a similar vibe. The menu is a mix of quality and comfort food. A playful vibe dominates the Overton Square space, from the name of the restaurant to the decor to the menu items, an atmosphere that will be carried over to Tennessee Taco Co. with its street taco-focused concept.
After taking over the former Los Compadres space, the new team closed it in July and did what McLean described as an extensive cleaning of the kitchen. The inside was also repainted, and a new mural added. The tables and chairs were all changed – basically, an effort to “give it a refresh.”
4650 Hedges Drive
Memphis, TN 38128
4787 Garden Grove Cove
Memphis, TN 38128
Sale Amount: $11 million
Buyer: Trinity Multifamily
Seller: Capital Solutions LLC
Details: Two apartment complexes in northern Shelby County have been purchased by an Arkansas realty group for nearly $11 million, according to a pair of warranty deeds filed with the Shelby County Register.
In the first deal, Trinity Multifamily, doing business as AndMark Greenview Estates LLC, bought the Greenview Estates Apartments at 4650 Hedges Drive for $5.4 million from Capital Solutions LLC.
Built in 2001, the 36.8-acre complex is situated on the south side of New Allen Road west of Raleigh Millington Road. The Shelby County Assessor appraised it at $3.6 million this year.
In the second transaction, Trinity Multifamily, this time doing business as AndMark Garden Wood Apartments LLC, bought the Gardenwood Apartments at 4787 Garden Grove Cove from Capital Solutions for $5.4 million.
The 10-acre property, which was built in 1983 on the west side of Hoover Drive north of Raleigh Lagrange Road, was last appraised at $3.2 million this year.
Hannah Oppenheim signed both deeds on behalf of Capital Solutions.
Trinity Multifamily owns two other complexes in Shelby County – the 152-unit Bartlett Crossing Apartments at 5760 Silvercreek Drive and the 208-unit Enclave Apartment Homes at 2940 Hickory Hill Road – along with other multifamily properties in Arkansas, Kansas, Missouri, Oklahoma, Texas and Mississippi.
5183 Airline Road
Arlington, TN 38002
Permit Amount: $2.4 million
Owner/Tenant: Olympic Steak and Pizza
Contractor: Priester & Associates Inc.
Details: Olympic Steak and Pizza, a family-owned restaurant chain with stores in northeast Shelby County, has filed a building permit application for its fourth location in Arlington.
The $2.4 million permit calls for new construction at 5183 Airline Road, and lists Priester & Associates Inc. as the contractor.
Currently Olympic Steak and Pizza operates locations in Millington, Atoka and Oakland.
5040 Sanderlin Ave.
Memphis, TN 38117
Buyer: Tony Westmoreland, Nick Scott, Ed Cabigao and Brittany Cabigao
Seller: Eat Here Brands
Details: The owners of Cooper-Young’s Alchemy Memphis are buying East Memphis eatery Interim Restaurant & Bar.
Tony Westmoreland, executive chef Nick Scott, and Ed and Brittany Cabigao are purchasing Interim, located at 5040 Sanderlin Ave., from Eat Here Brands, which also owns Babalu in Overton Square. Terms of the deal were not disclosed.
David Krog will continue in his role as Interim’s executive chef.
“I’m very grateful that I had the opportunity to work for Eat Here Brands,” Krog said in a release. “The owners and corporate team are first class. I’ve learned a lot from those people, but am very enthusiastic about moving forward with a local restaurant group that shares similar ideas on growth for the Memphis market.”
Scott, executive chef at Alchemy, is familiar with Interim’s Sanderlin Avenue locale. He was part of the team that opened Wally Joe in that location in 2002.
4049 E. Raines Road
Memphis, TN 38118
Lease Size: 100,000 square feet
Tenant: Honeywell International Inc.
Landlord: BLC Memphis
Landlord’s Agent: Hank Martin and Brian Califf, NAI Saig Co.
Details: Honeywell International Inc., a Fortune 100 software-industrial company based in New Jersey, has signed a lease to occupy 100,000 square feet inside the Airport Industrial Park.
Hank Martin and Brian Califf with NAI Saig Co. represented the landlord, BLC Memphis, in the deal.
Located at 4049 E. Raines Road, the 145,000-square-foot warehouse was built in 1973. The Shelby County Assessor appraised it at $2.3 million this year.
Founded in 1885, Honeywell is a conglomerate that produces consumer and commercial products and services. Its industries range from aerospace and specialty chemicals to vehicles and footwear.