Overton Square Adds Two New Restaurants in One Week

Loeb Properties has announced that Bogard, a new upscale restaurant that will serve contemporary Southern-inspired dishes, has signed a 3,790-square-foot lease in Overton Square.

Though the restaurant partially takes its name from co-owner Edward Bogard, it also an acronym for “Buying One Gives Another Rare Dish,” as each meal purchased at the restaurant will provide another meal for a person in need thanks to a partnership with the Mid-South Food Bank.

Ed Cabagiao and Ben McLean have been tapped as operating managers for the new venue that will occupy the former Stanley Bar-B-Que space at 2110 Madison Ave. 

Read more in the Memphis Daily News

New Restaurant BOGARD Planned For Overton Square Will Help Feed Those In Need

MEMPHIS, Tenn. (localmemphis.com) - A new concept restaurant that aims to feed the need as well as customers is set to open in the former location of Stanley BBQ in Overton Square.

Loeb Properties says the owners behind BOGARD plan to begin construction in the next month on the space at 2110 Madison Avenue. Among those who are behind the venture are co-owners; philanthropist Edward Bogard, Preston Butts Jr. and NBA Coach Lionel Hollins.

BOGARD stands for “Buying One Gives Another Rare Dish.” The concept behind the upscale restaurant is that for every meal purchased, another meal will be provided for someone in need through a partnership with the Mid-South Food Bank.

Stanley BBQ, which had been in the space, closed back in February.

Watch more at Local Memphis

Porch & Parlor to take over Bar Louie spot in Overton Square

"We are looking forward to activating Overton Square's 'gateway' space with Russ Graham and Tom Powers' experienced team and unique, sophisticated fine-dining concept," said Ciara Neill, director of marketing for Loeb Properties.

The pair opened Flight in 2009 Downtown and Southern Social in Germantown in 2016. The fine dining restaurants have a few things in common, but the menus are different and Porch &  Parlor will also have a distinct identity.

"We view it as an opportunity to create something different, to delve into new culinary territory," Powers said.

The renovation will be extensive and the end result a white tablecloth restaurant. With 5,982 square feet and currently seating for more than 275 people inside and out, it will be the largest fine dining restaurant in the area. Bari and Restaurant Iris, both slightly off the square, offer upscale dining but are much smaller. Iris will close in the next month or two for a complete renovation and will reopen with a new menu and a more contemporary interior, but will remain fine dining.

Not long after Bar Louie closed, so did Stanley Bar-B-Que at 2101 Madison. The space, which was Paulette's for many years and Schweinehaus for several before changing its concept to barbecue, remains unoccupied.

Read more in the Commercial Appeal

With Loeb mural collaboration, art class is in session at Overton Square

Bob Loeb was flipping through the pages of Memphis magazine when he saw a piece of art he had to have. It wasn't a gallery piece, but a mural created by local elementary school students using recycled plastic bottle caps.

The article led to the latest educational collaboration between Loeb Properties Inc. and Shady Grove Elementary.

Loeb orchestrated a trade in which students would create a bottle cap mural for Overton Square in exchange for an educational field trip in which 75 fifth-graders received an art lesson from The Art Project, lunch from Belly Acres and a guided public art tour.

The serendipitous way in which Shady Grove Elementary found itself partnering with Overton Square is a microcosm of Memphis itself, said school principal Kiersten Schnacke.

"That really and truly is what our world should be about — people coming together," Schnacke said. "Through those connections, our students were able to have an amazing experience."

Like Memphis, Shady Grove is a diverse public school with a mix of races and incomes. Five of the school's buses are dedicated to transporting students from a nearby apartment complex.

Read more in the Memphis Business Journal

Developer Announces Plans For Broad Avenue

MEMPHIS, Tenn. (localmemphis.com) - A well- known developer in Memphis plans to put his stamp on another neighborhood in the Bluff City. Loeb properties received praise for its work redeveloping Overton Square. Now it is taking aim at a local arts district.
 
"We are looking forward to bringing this project on line to serve as a part of the thriving Broad Avenue and greater Binghampton neighborhood revitalization," said Loeb Properties marketing director Ciara Neill. 
 
Loeb Properties released sketches of its planned development once it razes a 223,000 square foot empty warehouse on Broad Avenue.
 
Business owners who spoke to Local 24 said they've been meeting with the developer for the past 6 months and are eager to see the project break ground. 
 
"We think it showcases everything good about the urban core," said Pat Brown, co-owner of T Clifton Gallery. "We feel it is an example and an activation of public space and what can be the best."
 
The development could become home to up to 414 families and include an urban park, dining and retail space. One thing the developer won't change is the iconic water tower.
 
"It's a landmark," said Jack Steiner, owner of Merchants On Broad. "It's the broad avenue logo, that water tower and that mural. It's one of those things that you can look at over and over again and never get tired of."

Watch more on Local Memphis

Massive Mixed-Use Project Slated for Broad Avenue

In many ways the Broad Avenue water tower has become the defining emblem of the iconic arts district, but the empty warehouse it sits on stands in stark contrast from the vibrant shops, restaurants and art galleries that line the more developed south side of the street.

That could all soon change as James Maclin, a former MAA executive and local multifamily expert, and Bob Loeb, owner of Loeb Properties Inc., have teamed up to bring what many people feel is the area’s last missing piece.

“When I look at that area now, you have great businesses and restaurants that are already there, but after 9 p.m., there’s limited activity and foot traffic, because no one lives there on a large scale,” Maclin said. “Multifamily brings that last piece that can really take Broad Avenue to the next level.”

Maclin and Loeb are hoping to parlay their respective areas of expertise – multifamily and retail – into a massive mixed-use project on the 8.5-acre parcel where the water tower is attached to a 222,000-square-foot vacant WWII-era warehouse.

Read more in the Memphis Daily News

Coming Full Square

For the first time in a while, Overton Square isn’t 100 percent leased. And while no one really expects that to be the case for very long, these rare vacancies provide a good chance to stop and examine what the popular entertainment destination has going on.

In terms of current construction, one has to look no further than the southeast corner of Overton Square to see the changes Austin, Texas-based burger chain Hopdoddy is making to one of Memphis’ more recognizable intersections.

But when it comes to potential impact, the square’s most ambitious project has yet to break ground.

“We … had more than 1.2 million visitors last year, which makes us one of the most visited entertainment destinations in Memphis,” said Ciara Neill, director of marketing for Overton Square landlord Loeb Properties. “Once the hotel comes on line, we are really looking at attracting regional visitors at a much higher rate.”

Read more in the Memphis Daily News

Maciel’s opens new location as Highland Strip continues growth

MEMPHIS, Tenn. — Could the Highland Strip be the “new Beale Street?” Some say it may be on the way.

The recent opening of Maciel’s Tortas and Tacos at 525 S. Highland Street last weekend is just one example of the growth happening there.

Ryan Haskett, a frequent visitor to the Strip and regular DJ and performer at The Bluff, says good things are happening on the Strip.

“I think that Highland Strip is booming. I think this is the new Beale Street of Memphis. We have a ton of new businesses that are opening,” Haskett said.

The row of early 20th-century storefronts near the University of Memphis has gone through ups and downs since it became popular with college students in the late 1960s.

But for the past couple of years, it has been the scene of a major renovation effort by owner Loeb Properties, which also redeveloped Overton Square.

Watch more on WREG

Germantown to Get Jazzercise Center

Two local franchise owners are looking to bring West Tennessee its first official Jazzercise center.

Donna Cross and Regina Roberson have signed a lease to occupy 1,200 square feet at 7869 Farmington Blvd. in Loeb Properties’ Farmington Centre.

Aaron Petree, vice president brokerage for Loeb Properties, represented the landlords.

The new space on Farmington Boulevard near Poplar Avenue will offer aerobic exercise and dance fitness, including strike, cardio, and dance mix workouts, as well as interval, strength, and core training.

Read more in the Memphis Daily News

Loeb expands Overton Square brand with new infill development

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."

Read more in the Memphis Business Journal

Business Booming in the Bluff City

From the number one employer in Memphis expanding to new retailers moving in. These are more signs that the local economy is turning around. A global fashion retailer announced plans Tuesday to open new stores in the coming months. That means job creation and more money being pumped into our local economy.

Memphians should prepare for a new 22,000 square foot retail space. H&M announced it's coming to Cordova as well as east Memphis. This is just the latest in a series of businesses set to open its doors this year.

Watch more on Local Memphis

Overton Square Restaurant Planning Expansion

Lafayette's Music Room is planning to expand in Overton Square.

The construction will expand the business to 1,300 square feet.

They plan to open the expansion mid-February. Loeb Properties, Inc. said Lafayette's Music room will remain open while the expansion is underway.

The venue recently upgraded their current location with the addition of indoor/outdoor bar serving two stories of patio space.

Watch more on Fox 13 Memphis

Lafayette's expanding in Overton Square

Lafayette's Music Room is expanding to create 60 to 80 more seats, a new space for the stage and a green room for performers, landlord Loeb Properties announced Wednesday.

Construction has begun to enlarge the music and bar venue into the 1,300 square feet next door at 2121 Madison that had been occupied by The Attic. The clothing store closed Dec. 31, but the owner still operates another Overton Square business, The Ivory Closet.

Read more in the Commercial Appeal

New Mural Installed on the Highland Strip

A new mural of a blue-eyed, lifelike tiger has been installed on the Highland Strip near the University of Memphis.

The mural, Tiger Eye, was designed by the Loeb Properties team and installed over several days by SignWorks Memphis. 

Using a special technique, the team installed the mural by using a heat-gun application which stretched the printed material over the wall, sticking it to the brick and mortar. 

"The dramatic visual element celebrates the University of Memphis Tigers and reflects the community spirit of  the university neighborhood," Loeb officials said in a press release. 

U of M president, David Rudd approves, calling the mural "imposing, striking and well done" in a tweet on Sunday.

Read more in the Memphis Flyer

Loeb: Tax incentive would make Overton Square hotel 'feasible'

A new, boutique hotel of 100 rooms and parking structure of an estimated 235 spaces will rise in Overton Square, but only if the project is made feasible with a tax incentive.

That's part of the message Overton Square owner Loeb Properties will take to the Economic Development Growth Engine ) board on Wednesday in seeking a "Community Builder" payment in lieu of taxes. The 15 years of tax breaks would cut the project cost by $6.1 million.

The idea is to round out Overton Square's position as an entertainment and theater district, providing a convenient place to stay for out-of-towners who come for a weekend of dining and performances at Playhouse on the Square, Hattiloo Theatre and the new Ballet Memphis headquarters.

Read more in the Commercial Appeal

Loeb Properties Planning $24M Overton Square Hotel

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

Pottery Studio/Coffee House to Open on Highland Strip

Belltower Artisans, a pottery studio and coffee shop founded in 2016 by college students Micah Dempsey and Christopher Galbreath, has inked a deal to move into a 2,788-square-foot space in the Highland Strip.

Aaron Petree represented landlord Loeb Properties Inc. in the deal.

Belltower Artisans offers a full range of pottery classes, from “Date Night” classes to multi-week beginner, intermediate and advanced level courses.

Dempsey and Galbreath first met in art class while attending Harding Academy, where they were studying pottery making. Eventually the pair opened their first location in Minglewood Hall, before deciding to relocate to the Highland Strip to be nearer to the University of Memphis.

Read more in the Memphis Daily News

Loeb leases Midtown space to local veterinary chain

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.

Read more in the Memphis Business Journal

Bruster’s Highlights Highland Strip Growth

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

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.”

Read more in the Memphis Business Journal