Loeb Plans to Demolish, Redevelop Poplar Avenue Property

Loeb Properties Inc. is preparing to demolish the pair of office buildings at 5575 Poplar Ave.

The prominent real estate company recently sent tenants of Executive Square a letter telling them that a demolition is being planned for the pair of 1973 office buildings and that they will be replaced with a new development Loeb is involved in.

Ciara Neill, Loeb's spokeswoman, confirmed the plans Tuesday and said the company is working with "a lead candidate" on the "major redevelopment."

"We're very pleased with the interest we've been getting from prospective users," Neill said.

Read more in the Memphis Business Journal

Renovated Donut Shop Rounds Into Shape

An incoming donut shop seems poised to add to the city’s whimsical, kitsch architecture and signage, in the tradition of the rotating Sputnik at Joe’s Wines & Liquor, the flashing neon at Gibson's Donuts and the long-gone Pop Tunes dancing neon musical notes.

The future shop at 1776 Union Ave. features a corner patio so round that it mimics the donuts to be made and sold inside.

In case there’s any doubt about the circular symbolism, a giant donut-shaped sign will be installed atop the patio, according to an architectural rendering provided by landlord Loeb Properties.

Read more in the Daily Memphian

New York Transplant Opens Local Pizzeria

One day in the early 1990s, the owner of a small, Long Island pizzeria was left shorthanded by a quarrel between his two sons. He turned to the dishwasher, Jose Granados, and told him he was going to learn how to make pizza that day.

Ever since, Granados has been making pizza off-and-on and saving up money to open his own place.

On Monday, the 43-year-old is set to achieve his long-held goal, with the opening of New York Style Pizzeria in Collierville.

Read More in the Memphis Business Journal

ErinWay Shopping Center to Undergo Renovation

A shopping center in the heart of East Memphis will soon undergo a renovation.

Loeb Properties this week applied to do work on its ErinWay Center at 4870 Poplar. The document estimates the first phase of work will cost about $750,000.

The J-shaped center anchored by Huey’s occupies 4.1 acres with 44,487 square feet of commercial space and parking.

The strip center is bordered by Poplar to the south, St. Nick on the west and Erin Drive on the east.

“We'll be making some cosmetic and construction adjustments to this plan as we work our way around the building, and are staging the renovation in phases to work around the busy holiday shopping season,’’ Loeb Properties spokeswoman Ciara Neill said in an email to The Daily Memphian.

“In the first phase, which is just about to kick off, we'll be renovating the western side of the building around Sakura Japanese Restaurant and the European Wax Center,’’ she said. “We're currently exploring the addition of a fun splash of color on that wing of the building through an artistic installation facing St. Nick Street, and after the holidays will pick back up with construction on the south and east facades of the shopping center.’’

Read more in the Daily Memphian

Open Flame Opens in Highland Neighborhood

Loeb Properties is pleased to announce the opening of Open Flame restaurant at University Center. Located at 3445 Poplar Avenue at Highland Street, Open Flame is the new location and name for the popular Kebob International restaurant, formerly of Cordova.

Owners Sharzad and Mansour Ashrafieh are renowned in Memphis for their authentic signature Persian and Mediterranean dishes, specializing in shish kabob, kosher, and halal fare. The Ashrafieh's famous hospitality extends to evening events including belly dancing; catering and group events are available upon request.

Read more in the Memphis Flyer

New Gym Opening In East Memphis

SHED Fitness has signed a lease to occupy 4,055 square feet at 1215 Ridgeway Road.

Marcus Esposito and Maureen Shorter Esposito, the local franchise owners, are currently building out their Park Place location, which is expected to open in August.

In the deal, landlord Loeb Properties Inc. was represented by vice president of brokerage Aaron Petree.

At SHED Fitness, participants are led through 3 to 5 stations of moderate to high intensity exercises for a total class time of 50 minutes. Private classes are also available.

Read more in the Memphis Daily News

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

Golden India, Overton Square and the Loeb trademark

This week it was revealed that a longtime Overton Square restaurant tenant planned to move — slightly.

Golden India filed an application with the Shelby County Land Use Control Board to have a piece of property at 20 N. Cooper St. changed from its current residential zoning to accommodate a new, 2,900-square-foot restaurant. The site is immediately next door to Ballet Memphis.

If approved, the new Golden India location would be about a three-minute walk from its current home at 2097 Madison Ave. It's a small move geographically, but it's one that would take them outside the Overton Square parameters.

This week’s MBJ cover article, “Defining the shape of the Square,” looks at the federal trademarks for “Overton Square” and “Overton Square Memphis” granted by the U.S. Patent and Trademark Office and registered to Loeb Realty Co. Inc.

Read more in the Memphis Business Journal

Loeb purchases site near Overton Square

Last week, Loeb Properties spent $1.4 million on a site that is currently home to a Burger King near Loeb-owned Overton Square.

The two-parcel property, located at 2090 Union Ave., has a combined appraised value of about $1 million, according to the Shelby County Assessor of Property's website. It is about a block away from the property where Loeb plans to build a new, 7,500-square-foot retail center.

Read more in the Memphis Business Journal