VOL. 133 | NO. 51 | Monday, March 12, 2018
Memphis Real Estate Recap
Clark Tower, Primacy Parkway Ink New Tenants
By Patrick Lantrip
5100 Poplar Ave.
Memphis, TN 38137
Lease Amount: 1,830 square feet
Tenant: Accurate Communications Corp.
Details: Accurate Communications Corp. has signed a lease for 1,830 square feet at Clark Tower, suite 2100, after considering several other office locations.
“There are a few reasons we chose Clark Tower over some other similar properties,” said John Maddox, director of sales and operations for Accurate Communications. “Firstly, the name ‘Clark Tower’ still holds quite a bit of prestige in our community, and we wanted a building we could be proud to call home. Secondly, the cost per square foot was extremely competitive with other buildings, but nowhere could match the amenities that Clark boasts.”
A voice, data and cloud solutions company, Accurate Communications launched in 1994 as a music-on-hold company, but it has evolved since then.
A big change came in 2001 when its EarGlue Harmony marketing firm enabled clients to get messages to shoppers through in-store music and marketing messages.
In 2012, Accurate launched its technology distribution services firm.
The EarGlue brand designs, implements and directs audio marketing solutions that help small and midsize businesses better communicate with customers, and drive profit increases.
Privately held Accurate Communications serves approximately 1,500 customer locations in all 50 states and throughout Canada.
Clark Tower owner In-Rel recently completed a $9 million renovation of the high-rise, including a modern redesign of the main lobby, entrance way, common areas and restrooms. All mechanicals have been replaced, elevators upgraded and a 60-person conference room was added along with new pedestrian walking paths connecting to surrounding restaurants and retail.
Colliers International Asset Services in Memphis handles leasing for In-Rel’s 1.25 million-square-foot office portfolio, which includes Clark Tower.
6060 Primacy Parkway
Memphis, TN 38119
Lease Amount: 2,700 square feet
Tenant: Turner Construction Co.
Landlord: Primacy III LLC
Details: Turner Construction Co. has moved to a new office at 6060 Primacy Parkway in Memphis.
The company employs 40 in Memphis, with plans to add more staff.
Build-out work on the office began in December, with Turner as the contractor, collaborating with architects Bottletree Design Group and engineers Innovative Engineering Services. As part of Turner’s commitment to elevating and supporting minority and women-owned business enterprises, roughly 91 percent of the cost of the project went to minority- or female-owned subcontractors, as well as 100 percent of the design team, as Bottletree Design Group is woman-owned and IES is minority-owned.
The finished office space is a collaborative work environment with exposed ceilings, all LED lights, writable/erasable surfaces on seven walls, a large conference room with Cisco videoconferencing capabilities, and additional collaboration spaces and glass walls to help enhance the space’s openness.
Forecasted 2018 revenue for the Memphis office of Turner Construction is above $100 million, more than twice its 2016 revenue of $42 million. The current staff of 40 has also doubled from two years ago.
150 Peabody Place
Memphis, TN 38103
Owner: Belz Enterprises
Tenant: ServiceMaster Global Holdings
Details: Downtown’s office population grew by 300 people last week as ServiceMaster Global Holdings welcomed the largest influx of employees to its new corporate headquarters in the old Peabody Place Mall.
In total, ServiceMaster will be bringing 1,200 office employees to the 320,000-square-foot former retail haven in Downtown Memphis, a process the company decided to stagger over the course of six weeks.
“This was our biggest week,” Terry Ingram, ServiceMaster’s senior vice president of supply chain, said of this week’s move. “Pretty much all of IT will be in the building, pretty much all of finance will be in the building and the executive team will be in (Tuesday, March 6).”
Ingram said they decided to move in roughly 170 people during the first week and another 260 the following week, mostly from the marketing, communications and financial departments.
Since there is still some minor construction going on throughout the first and second floors, ServiceMaster chose to begin the moving process with departments that will be housed on the third floor, and then work their way down over the next few weeks.
“(The groups) will get a little smaller moving forward,” Ingram said. “We’ve got three more waves to move in.”
In addition to the 1,200 employees ServiceMaster is bringing Downtown, spokesperson James Robinson said the company will be bringing in dozens of executives and other people who will most likely stay at the neighboring Peabody hotel.
“We have dozens of visitors a day from all over the country, whether they are our own employees, branch managers, franchise owners, consultants who will now be staying Downtown,” Robinson said.
Employee Kent Blake with the company’s DevOps department was one of the first to move in. He said he’s been enjoying the new location, even if it can be a little overwhelming at first.
“No one is ever going to come into this building and say this is smaller than I thought it was going to be – this place is expansive,” Blake said. “It just goes on and on.”
To help employees navigate their new domain, ServiceMaster took a page from the site’s history and installed mall-esque department directories throughout the building, in addition to bringing in dozens of volunteers to help with move-in efforts.