Commercial real estate agent Tucker Beck of Crye-Leike Commercial was the sole broker involved in the long-term lease transaction. The landlord is Kang Rhee, who taught martial arts in the building to Elvis Presley.
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Jess Ossorio of Crump Commercial and CORFAC International represented Couch and Tucker Beck Crye-Leike Commercial represented the sellers.
The building was erected in 1924 as a full-service gas station. The structure still features a swooping service canopy that cars once pulled under.
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The graffitied space formerly occupied by The Hi-Tone Cafe on Poplar Avenue in Midtown Memphis will be renovated for a hookah bar.
The landlord, Kang Rhee, has signed a nine-year lease for the 4,764-square-foot building at 1909 Poplar Ave. with a businessman who owns several high-traffic gas stations in the Memphis area, said Tucker Beck, broker and vice president of Crye-Leike Commercial.
The renovations to the building should begin soon, said Beck, who represented both parties in the lease negotiations.
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When Tucker Beck, vice president with Crye-Leike Commercial, got a referral to sell some agricultural land in Cordova, it seemed like a pretty straightforward listing.
However, six contracts over seven years made it the deal that would not close.
Beck was trying to sell 8.77 acres at 9258 Walnut Grove Road for a family.
The property, a former rock quarry with 1,000 feet of Walnut Grove frontage, was left to various family members after its owner, Ester M. Redditt, died in the 1950s.
Read MoreJ. Tucker Beck of Cry-Lyke Commercial Real Estate says Fazoli’s has the market nearly covered with only two omissions: Midtown and Downtown. Finding a site in Midtown may be difficult because the land market is tight, he says, but a Downtown walk-in restaurant would fill the bill in that area.
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J. Tucker Beck has been selling real estate with Crye-Leike Commercial for 18 years. But when the market dried up in the fall of 2007, he turned to an old fraternity brother to help him line up a job at Huey’s.
Read MoreLee T. Adams, one of the owners of T. J. Mulligan's restaurant, has bought a one-quarter-acre parking lot in the Pinch district Downtown.
The parking lot at 374 North Main was sold for $260,000 by 374 North Main Street LLC.
First Tennessee Bank financed the deal.
Tucker Beck CCIM of Crye-Leike Commercial Inc. negotiated the sale.
See the full article at The Commercial Appeal.
Read MoreCrews acquired the five-acre parcel, which housed Eden Kennels, on June 9 from the Hoisington family. Tucker Beck of Crye-Leike Commercial represented the family in the $750,000 sale.
Read MoreThe Salvaggio Group has purchased 1.3 acres in Germantown and plans to develop and sell three office buildings on the Old Poplar Pike property.
Salvaggio Group will build three 5,000-square-foot office buildings, courting small professional firms to buy the properties in the Old Germantown area. The company paid $255,000 for two properties which it will combine into a 1.3-acre building site.
Tucker Beck, of Crye-Leike Commercial, represented the family in the sale and says they had been trying to sell the property for a number of years.
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International Paper's recent decision to relocate its global headquarters to Memphis could be viewed as an overall reflection of the city's commercial real estate sector. Memphis is experiencing a steady level of commercial investment activity, led by a surge in retail transactions.
From Aug. 1, 2004 to July 31, 2005, the Memphis area saw 1,033 commercial property sales, according to Chandler Reports, www.chandlerreports.com. The number marks a decline from 1,195 sales in the 12-month period ended July 31, 2004, but signs are encouraging that Memphis remains a strong investment market, analysts said.
A lot of activity. Total square footage in the market has increased from 19.3 million to 19.5 million.
"There is a lot of activity right now," said Tucker Beck, a broker with Crye-Leike Commercial. "It seems to be recently picking up. The train has gained momentum insofar as I think people would speculate that interest rates may be on a marginal rise over the long term. There is a lot of activity going on in commercial and residential."
Read MoreThe building, at 345-347 N. Main St., was purchased for $475,000. A separate limited liability corporation was established for the renovation work that originally was budgeted at $200,000.
We want to own our own place and stay Downtown, Evans said. Its a great old building.
Tucker Beck of Crye-Leike Commercial represented the buyer in the purchase. Ambassador Construction Co. of DeSoto County, Miss., is the contractor for the renovation project.
Read MoreTucker Beck of Crye-Leike Commercial represented the building owner, the estate of Dr. McCarthy Demere. Nancy Ligon with Ligon Hughes Reality represented Hallowell.
Read MoreA dilapidated warehouse long included in the eclectic fabric of a historic Midtown neighborhood is now for sale and facing an uncertain fate, after year-old plans to renovate the site failed to materialize. The 35,475-square-foot Keathley Pie Factory building, 2271 Young Ave., within the Cooper-Young community, was recently listed at a cash-only price of $350,000, said Crye-Leike Commercial agent Tucker Beck.
Read MoreMany people who spend time Downtown may be familiar with the name Tucker Beck.
Thats because his name, along with partner Sam Bond, is prominently displayed on Crye-Leike Commercial real estate signs throughout the Downtown area. Although Beck handles commercial real estate transactions in other areas of town, his work is concentrated Downtown, he said.
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