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 Mural Installed on the Highland Strip

A new mural of a blue-eyed, lifelike tiger has been installed on the Highland Strip near the University of Memphis.

The mural, Tiger Eye, was designed by the Loeb Properties team and installed over several days by SignWorks Memphis. 

Using a special technique, the team installed the mural by using a heat-gun application which stretched the printed material over the wall, sticking it to the brick and mortar. 

"The dramatic visual element celebrates the University of Memphis Tigers and reflects the community spirit of  the university neighborhood," Loeb officials said in a press release. 

U of M president, David Rudd approves, calling the mural "imposing, striking and well done" in a tweet on Sunday.

Read more in the Memphis Flyer

Local Gastropub Comes to Overton Square

"Local Gastropub, a popular downtown restaurant and bar, will open its second location in Overton Square. Following the recent Chiwawa lease at the old Chicago Pizza Factory, Local is the next to lease a spot in the commercial redevelopment of Midtown’s historic arts and entertainment district.

Local Gastropub will open in the former Yosemite Sam’s at 2126 Madison Ave., at the northwest corner of Madison and Cooper.   The 100-year-old, 5,826 square foot, two-story building housed Yosemite’s Sam’s for 39 years.  “It’s always been one of the gateways to Overton Square and that will continue with Local,” said Aaron Petree, vice president of leasing for Loeb Properties. Petree represented Loeb in the lease negotiations.

“We are excited to be part of this exciting vision for Overton Square,’’ Local Gastropub owner Jeff Johnson said. “Downtown is a destination and Overton Square will be, too.  I’m glad to be there from the beginning.”  Local Gastropub, now located at 91 South Main Street, will be replicated in Overton Square, featuring upscale food in a casual, pub-like setting. 

The Overton Square site for Local Gastropub has undergone “significant renovation,” according to Tom Hayes, vice-president of construction for Loeb Properties. “The building had major structural problems when we purchased it, and we knew going in that the rehab would cost as much as the purchase price.  My working concept has been a ‘rebirth’ because the building was at the end of its functional life, but it had good bones and given its history, it was worth saving,” he said.

Matt Prince, senior vice-president of Loeb Properties, said the contract with Local Gastropub is the “first step in an effort that will not only revive Overton Square but surpass our memories of it.”   Loeb Properties will invest about $20 million to revive the arts & entertainment district and Overton Square’s footprint to about 115,000 square feet, including the redesign of existing buildings and construction of new buildings. 

Local is an important and symbolic tenant for Overton Square, said Prince, because “it’s a local company with local ownership and that was, and will continue to be, an important part of the district’s personality and vibe.”  He said Loeb Properties is encouraged by the enthusiasm and the interest of retailers and restaurateurs in leasing opportunities in Overton Square.

“We see Overton Square as the linchpin between Overton Park and Midtown, capitalizing on the hundreds of thousands of people drawn there by Playhouse on the Square,’’ said Prince. “With the relocation of Hattiloo Theater to the Overton Square arts & entertainment district, the number of theater-goers will only grow,” said Prince.

Loeb Properties owns and manages a portfolio of more than two million square feet of retail, office, multifamily and industrial properties in Tennessee and Mississippi, and is the largest developer in the Midtown area."

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Commercial Appeal

Memphis Business Journal

Daily News

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