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.
Read More
Crews 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 More