Memphis Daily News: Loeb Buys East Memphis Office Complex

"Loeb Properties has acquired an office complex in the heart of East Memphis, the company’s first major acquisition since it bought Overton Square in July 2012.

Memphis-based Loeb Properties purchased Executive Square, a 40-suite professional office complex at Poplar Avenue and Yates Road in East Memphis, from F. William Hackmeyer for $3.85 million.

“Executive Square has all the right attributes, primarily its visibility and location on Poplar Avenue, two blocks from I-240,” said Lou Loeb, executive vice president of asset management for Loeb Properties. “The potential of this property is enormous.”

The four-building, 51,146-square-foot complex was built in 1973 and is currently 70 percent leased. Loeb officials said Executive Square is a good destination for small businesses needing 500 square feet to 2,000 square feet and looking to locate in East Memphis, the city’s premier office market."

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