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.
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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Lee 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.
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 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.
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