Yoga instructor starts anew with Chickasaw Gardens studio

January 19, 2019 LPI Memphis

In the haste to open her very own studio during the busy holiday season, yoga instructor Yolandrea Clark had to handle a lot of details.

She found her building in the Chickasaw Gardens neighborhood at the end of November, signed her lease on Dec. 10, and was up and running on New Year's Day. Between setting up an online registration system, handling code enforcement, securing equipment, and even attending jury duty, she toiled over one of the last features of her studio to fall into place.

Clark really wanted a specific kind of flooring.

“I wanted rubber floors, because I have people with joint replacements. It’s much easier on them,” she said.

Collierville chiropractor opening East Memphis office

January 4, 2019 LPI Memphis

A Collierville chiropractor is opening a second office location in East Memphis.

The Chiro Place, a family-based chiropractic practice that serves all ages, is opening its second office at 3179 Poplar Ave., across from East High School.

Owned and operated by Dr. Dena Granger, The Chiro Place is leasing a 1,500-square-foot space in Loeb Properties’ Shops of Chickasaw Gardens.

"Currently, with us being in Collierville we have a lot of patients who commute from the Memphis area," Granger said. "We were looking for a good, neutral spot to serve more of the Memphis community."

Korean restaurant opening near U of M

November 22, 2018 LPI Memphis

A local, family-owned restaurant is set to open its third location near the University of Memphis.

Du and Won Lee opened their first Korean restaurant in 2002, at South Mendenhall Road's intersection with Winchester Road, offering very traditional food and serving a primarily Korean clientele.

The Lees sons, Jun and Hwan, then took the reins in 2010. They renamed it DWJ and moved east, to 3750 Hacks Cross Road. Making the restaurant more accessible to a wider audience, the brothers found enough success at the new location to open a second location in Cooper Young two years ago. There, they've seen business boom.

Loeb Plans to Demolish, Redevelop Poplar Avenue Property

November 1, 2018 LPI Memphis

Loeb Properties Inc. is preparing to demolish the pair of office buildings at 5575 Poplar Ave.

The prominent real estate company recently sent tenants of Executive Square a letter telling them that a demolition is being planned for the pair of 1973 office buildings and that they will be replaced with a new development Loeb is involved in.

Ciara Neill, Loeb's spokeswoman, confirmed the plans Tuesday and said the company is working with "a lead candidate" on the "major redevelopment."

"We're very pleased with the interest we've been getting from prospective users," Neill said.

Renovated Donut Shop Rounds Into Shape

October 25, 2018 LPI Memphis

An incoming donut shop seems poised to add to the city’s whimsical, kitsch architecture and signage, in the tradition of the rotating Sputnik at Joe’s Wines & Liquor, the flashing neon at Gibson's Donuts and the long-gone Pop Tunes dancing neon musical notes.

The future shop at 1776 Union Ave. features a corner patio so round that it mimics the donuts to be made and sold inside.

In case there’s any doubt about the circular symbolism, a giant donut-shaped sign will be installed atop the patio, according to an architectural rendering provided by landlord Loeb Properties.

New York Transplant Opens Local Pizzeria

October 5, 2018 LPI Memphis

One day in the early 1990s, the owner of a small, Long Island pizzeria was left shorthanded by a quarrel between his two sons. He turned to the dishwasher, Jose Granados, and told him he was going to learn how to make pizza that day.

Ever since, Granados has been making pizza off-and-on and saving up money to open his own place.

On Monday, the 43-year-old is set to achieve his long-held goal, with the opening of New York Style Pizzeria in Collierville.

ErinWay Shopping Center to Undergo Renovation

September 28, 2018 LPI Memphis

A shopping center in the heart of East Memphis will soon undergo a renovation.

Loeb Properties this week applied to do work on its ErinWay Center at 4870 Poplar. The document estimates the first phase of work will cost about $750,000.

The J-shaped center anchored by Huey’s occupies 4.1 acres with 44,487 square feet of commercial space and parking.

The strip center is bordered by Poplar to the south, St. Nick on the west and Erin Drive on the east.

“We'll be making some cosmetic and construction adjustments to this plan as we work our way around the building, and are staging the renovation in phases to work around the busy holiday shopping season,’’ Loeb Properties spokeswoman Ciara Neill said in an email to The Daily Memphian.

“In the first phase, which is just about to kick off, we'll be renovating the western side of the building around Sakura Japanese Restaurant and the European Wax Center,’’ she said. “We're currently exploring the addition of a fun splash of color on that wing of the building through an artistic installation facing St. Nick Street, and after the holidays will pick back up with construction on the south and east facades of the shopping center.’’

Open Flame Opens in Highland Neighborhood

September 20, 2018 LPI Memphis

Loeb Properties is pleased to announce the opening of Open Flame restaurant at University Center. Located at 3445 Poplar Avenue at Highland Street, Open Flame is the new location and name for the popular Kebob International restaurant, formerly of Cordova.

Owners Sharzad and Mansour Ashrafieh are renowned in Memphis for their authentic signature Persian and Mediterranean dishes, specializing in shish kabob, kosher, and halal fare. The Ashrafieh's famous hospitality extends to evening events including belly dancing; catering and group events are available upon request.

New Gym Opening In East Memphis

July 27, 2018 LPI Memphis

SHED Fitness has signed a lease to occupy 4,055 square feet at 1215 Ridgeway Road.

Marcus Esposito and Maureen Shorter Esposito, the local franchise owners, are currently building out their Park Place location, which is expected to open in August.

In the deal, landlord Loeb Properties Inc. was represented by vice president of brokerage Aaron Petree.

At SHED Fitness, participants are led through 3 to 5 stations of moderate to high intensity exercises for a total class time of 50 minutes. Private classes are also available.

Read more in the Memphis Daily News

Loeb expands Overton Square brand with new infill development

February 13, 2018 LPI Memphis

A conceptual rendering of the Diana Street Apartments being proposed by PMT investments LLC. The apartments are designed by Memphis-based architecture firm Arch Inc.

The latest infill development in Midtown will officially expand the boundaries of Loeb Properties Inc.'s Overton Square redevelopment — or the use of its trademarked brand at least.

A three-story, infill apartment building, planned for a vacant lot at the corner of Diana Street and Monroe Avenue, will be the first new development to use the official Overton Square brand.

A conceptual rendering of the Diana Street Apartments being proposed by PMT investments LLC. The apartments are designed by Memphis-based architecture firm Arch Inc.

As detailed in the Memphis Business Journal's June 2017 cover story, "Loeb trademark defines shape of Overton Square," Loeb has a federal trademark for “Overton Square” and “Overton Square Memphis” from the U.S. Patent and Trademark Office for advertising and marketing purposes.

"Since 'Overton Square,' the name, is trademarked, [Loeb] is licensing us the ability to use the name 'Overton Square' in our name 'The Flats at Overton Square,'" said Aaron Petree, Loeb's vice president of properties and a principal of PMT Investments, which is developing the project. "For them, it was a benefit because they can expand the geographical footprint."

Loeb Properties Planning $24M Overton Square Hotel

September 16, 2017 LPI Memphis

Loeb Properties wants to build on the revival of Overton Square by adding a $24 million, 100-room hotel in the district.

The Memphis-based company and its partners – boutique hotel developer LRC2 Properties and hospitality management company MMI Hotel Group – are seeking a 15-year tax abatement to construct a 100-room boutique hotel at the southwest corner of Cooper Street and Trimble Place, south of Madison Avenue in Midtown Memphis.

According to Overton Square LLC’s application filed with the Economic Development Growth Engine for Memphis and Shelby County, the project’s owners are seeking a 15-year Community Builder payment-in-lieu-of-taxes (PILOT) incentive to build a $24.2 million hotel on the 1.3-acre lot that is currently home to a parking lot situated between the Hattiloo Theatre and Bar Louie.

Read more in the Memphis Daily News

Loeb leases Midtown space to local veterinary chain

July 11, 2017 LPI Memphis

Loeb Properties Inc. announced today (Tuesday, July 11) it leased 2,300 square feet of space on Union Avenue to PetVax, a veterinary clinic.

The clinic will be located at 1680 Union Ave., in the shopping center anchored by Pei Wei Asian Diner. It will be the Memphis-based veterinary company's sixth full-service location, and its closest to core of the city.

Bruster’s Highlights Highland Strip Growth

July 7, 2017 LPI Memphis

When a small record shop called Pop-I’s opened in late 1960s, it helped spark the transformation of a mundane neighborhood shopping center near the University of Memphis into a popular entertainment destination for students.

And while it has seen its share of ups and downs over the past half-century, the Highland Strip and the surrounding area is firing on all cylinders now – thanks in part to the revitalization efforts of current owners Loeb Properties, which just linked a lease with the strip’s newest tenant, Bruster’s Real Ice Cream.

“Basically I pushed them to this location because they have the size and space, and I think what Loeb is doing there is tremendous,” said Harold Blockman with Keller Williams Realty, who represented Bruster’s in the deal. “It’s really come around and there are a lot of good things going on here.”

Read more in the Memphis Daily News

New tenant named for future Midtown development

June 14, 2017 LPI Memphis

A tenant you can bank on is headed to a future Midtown development.

Renasant Bank will open a branch in Loeb Properties’ new 7,500-square-foot retail center at 2046 Union Ave. The bank joins Chipotle as the announced tenants.

In January, Metropolitan BancGroup Inc. — parent company of Metropolitan Bank — announced it would merge into Renasant Corp. — parent company of Rensant Bank — as part of a $190 million all-stock transaction. That merger is expected to close July 1.

Phillip May, former market CEO for Metropolitan Bank’s Memphis market and current president of Memphis/West Tennessee for Renasant Bank, said the Union Avenue location was already in the works for Metropolitan before the merger announcement.

“We have been looking in Midtown for a couple of years,” May said. “We have a lot of clients there, particularly with our medical banking group. Being that close to the medical district is important.”

Chipotle to open first Midtown Memphis location

June 12, 2017 LPI Memphis

Chipotle is on its way to Midtown.

The fast-casual Tex-Mex eatery will be leasing space in the new 7,500-square-foot retail center Loeb Properties is building at 2046 Union Ave., the former home of a Valvoline Instant Oil Change building.

Chipotle will take up about 2,250-square-feet of space in the new center, according to The Shopping Center Group's John Reed, who — along with colleague Danny Buring — represented the popular burrito restaurant.

"They like Union Avenue and the synergy of the area [near Overton Square]," Reed said.

Golden India, Overton Square and the Loeb trademark

June 9, 2017 LPI Memphis

This week it was revealed that a longtime Overton Square restaurant tenant planned to move — slightly.

Golden India filed an application with the Shelby County Land Use Control Board to have a piece of property at 20 N. Cooper St. changed from its current residential zoning to accommodate a new, 2,900-square-foot restaurant. The site is immediately next door to Ballet Memphis.

If approved, the new Golden India location would be about a three-minute walk from its current home at 2097 Madison Ave. It's a small move geographically, but it's one that would take them outside the Overton Square parameters.

This week’s MBJ cover article, “Defining the shape of the Square,” looks at the federal trademarks for “Overton Square” and “Overton Square Memphis” granted by the U.S. Patent and Trademark Office and registered to Loeb Realty Co. Inc.

Cover Story: Loeb trademark defines shape of Overton Square

June 9, 2017 LPI Memphis

A person is standing at the corner of Florence Street and Madison Avenue — where are they? An answer of “Overton Square” may or may not be correct — depending on what side of the street the person is standing.

Are they in front of Memphis Pizza Cafe, at 2087 MadisonAve.? “Overton Square” is the right answer. Standing in front of Maggie’s Pharm, at 13 Florence St.,just a few yards away from Memphis Pizza Cafe? “Not Overton Square.”

But, if the person crosses Madison Avenue to the parking lotnext to Bayou Bar & Grill, they’re back in “Overton Square.”

The Square got its start when a group of young developers brought it to life after liquor-by-the-drink was legalized in 1969. The entertainment district boasted the first franchised location of T.G.I. Friday’s and was renowned for special attractions such as an ice skating rink and performances of “A Dickens Christmas.”

However, after a few changes in ownership, the Square began to decline in the 1980s, and in the following decades was all but abandoned by many businesses — the nadir might have been the closing of Friday’s in 2003 — until brothers Robert and Louis Loeb of Memphis-based Loeb Properties Inc. purchased the development in 2012. Overton Square has since gotten its second wind.

Loeb purchases site near Overton Square

May 4, 2017 LPI Memphis

Last week, Loeb Properties spent $1.4 million on a site that is currently home to a Burger King near Loeb-owned Overton Square.

The two-parcel property, located at 2090 Union Ave., has a combined appraised value of about $1 million, according to the Shelby County Assessor of Property's website. It is about a block away from the property where Loeb plans to build a new, 7,500-square-foot retail center.

Loeb set to build new Midtown retail center

March 27, 2017 LPI Memphis

Loeb Properties is preparing to build a new, 7,500-square-foot retail center in Midtown.

The center will sit just south of Overton Square at 2046 Union Ave., the current location of a Valvoline Instant Oil Change building.

"This constitutes a rare opportunity for a tenant to move into brand-new retail space on Union Avenue in the heart of Midtown," said Aaron Petree, Loeb's leasing broker for the property, in a news release. The multi-tenant building is set to include a restaurant, but Loeb didn't release the names of any confirmed lessors. The building will cost about $1.2 million, according to a building permit filed Tuesday.

First Look at New Overton Square Restaurant Hopdoddy

March 23, 2017 LPI Memphis

Overton Square developer Loeb Properties and brg3s architects are moving forward with their plans to bring a Texas-based burger bar to Midtown.

New signage has been installed depicting the first glimpse of what the new site at 6 S. Cooper St. will look like. Anchoring the block will be newcomer hopdoddy Burger Bar, a popular restaurant chain that will replace YOLO Frozen Yogurt & Gelato’s former location, while Lenny’s Sub Shop will get an upgrade but remain in the same location.

Earlier in March, Loeb announced construction and renovations on the new site will begin by the end of the month, with the new restaurant set open this fall.

Read more in the Memphis Daily News