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"Local retailer, Dixie Pickers, signed a lease with Loeb Properties to open a store in East Memphis.
Located at 964 June Road near the intersection of Poplar and Yates, the 8,400-square-foot building previously housed Tommy Bronson's Sporting Goods. The expansion will mark the second Dixie Pickers location."
"Overton Square is preparing to throw a party 45 years in the making, the commemoration of a milestone for one of the city’s premier restaurant and entertainment districts that’s once again hopping with activity.
A 45th anniversary party for the square is in the works, planned for May 21 in honor of the opening of TGI Friday’s on May 21, 1970. And the square’s official Facebook page lists a few ways the public can participate in the celebration.
Among the things being sought are contact details for bands that played the square in its heyday and that could be approached about performing at the party the square is billing as a “reunion.”
The public also is being asked for any historic photos of the square and of celebratory moments enjoyed there that could be used in display and event marketing."
"Memphians may not have to graduate from Newby's after all. Venerable Memphis developer Loeb Properties Inc.has expanded its retail portfolio with the purchase of the recently shuttered Newby’s bar and music venue on the Highland Strip.
Loeb, operating as Highland University District LLC, paid $450,000 for the two adjacent properties at 535 and 539 S. Highland St. Built in 1927, the properties total a combined 10,200 square feet, according to Shelby County Assessor of Property data. Paragon Bank foreclosed on the buildings in July 2014.
Loeb Properties president Bob Loeb said a record amount of public and private investment in the University of Memphis district prompted his company's interest in Newby's."
Bob Loeb has been honored with the Memphis Magazine 2014 Memphian of the Year award:
"In the heady 1970's days, T.G.I. Friday’s was the heart of the district; revelers often stood three deep at the bar, ramping up their rowdiness for the weekly wet T-shirt contest. Other eateries and clubs — Silky Sullivan’s, Bombay Bicycle Club, Lafayette’s Music Room — also packed in the crowds, while retailers sold candles and body oils, antiques and art, trendy gifts and funky furniture. But the real attraction was the atmosphere itself, fueled by liquor, live music, and the hormonal exuberance of 20-somethings ready to party.
A teenager then, Bob Loeb says today, “Frankly I was intimidated by Overton Square. That was the big boys’ playground. I didn’t feel I belonged there.” Then the 59-year-old with his chiseled good looks declares with an easy laugh, “But I have quite a number of friends who report they went there regularly!”
As years passed, Loeb joined the throngs who filled the streets at night, and, like many Memphians of at least two generations, he has fond memories of such places as Le Chardonnay, Palm Court, Bayou Bar & Grill, and other establishments. Several closed long ago while others, despite the whims of taste and time, have endured four decades. “Some memories I can share,” smiles Loeb, “some I can’t. But like so many folks, I have a sentimental attachment to the Square. People of such a wide age range want to see it successful.”
Clearly they are seeing that now. Though Overton Square’s popularity faded in the 1980s and by the twenty-first century showed dimming signs of life, the now-bustling district boasts growing occupancy of properties along Madison and its environs. Patrons, some who were at the Square in its heyday and others who weren’t born then, relish the revival of a Memphis institution."
"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."
"Construction could start next month on Broad Avenue Arts District’s pioneering project to turn a loading dock into shared space, used alternately for warehouse operations by weekday and an outdoor performance stage by night or weekends.
The Water Tower Depot should take about six weeks to build, finishing just in time for the eight-week “Dance on Broad” festival of performances, dance lessons and live music starting May 10. The old Broad Avenue commercial district between Midtown and East Memphis has been resurgent for about five years. New businesses continue to move in and renovate under-used or vacant buildings."
"A venerable Memphis cake decorating and supply store is moving to a new location on Summer Avenue.
Mary Carter Decorating Center signed a 4,800-square-foot lease in Cloverleaf Shopping Center at 733 N. White Station Road.
The father-and-son team of Jim and Chris Faherty have operated the family business out of their current, 2,500-square-foot location at 3205 Summer Ave. for 55 years."
"Jimmy Ishii plans to open a new concept, Robata Ramen & Yakitori Bar, in the Overton Square’s historic Griffin House.
The Memphis restaurateur signed a 1,526-square-foot lease at 2116 Madison Avenue, taking a yellow house which remained residential during the district’s commercial heyday.
Robata Ramen & Yakitori Bar, taking its name from the Japanese word for “fireside,” is an izakaya bar and grill serving kushiyaki skewers of grilled meat and vegetables, kara-age bite-sized fried chicken, ramen noodle soups and other traditional Japanese items.
Chefs will serve customers seated at the bar using a paddle. This method comes from an old Japanese method of fishermen passing meals from boat to boat."
Loeb Properties Inc. has been riding a leasing hot streak in recent months at Overton Square. The Midtown retail property, once left for dead, is now currently 73 percent occupied. What a difference a year, and a local owner, make.
Overton Square declined for years under Colorado-based Overton Square Investors LLC, but that started changing once Memphis-based Loeb purchased the property.
"Dentists of Midtown might want to brace themselves as Overton Square has landed a local candy shop.
Sweet Noshings, owned by Leena Asbridge, has signed a 1,750-square-foot lease at 2113 Madison Avenue. The sweet shop will offer a variety of sugary options, including candy, cookies, cake, popcorn, chocolate and coffee.
“Years ago, I told my parents that one day I would open a candy shop, and the first thing I would stock is chocolate-covered marshmallows,” said Asbridge. “Today I have executed a portion of that dream — the perfect location. There isn’t a better choice than Overton Square for the family-friendly atmosphere I want to create with Sweet Noshings.”"
"It's Friday night, and it's nearly impossible to find parking around Overton Square. Drivers cruise down Madison, hoping to be lucky enough to spot someone pulling out of a precious on-street spot in the shadow of the still-under-construction parking garage.
Patrons of the newly opened martini lounge Bar Louie sip cocktails on the swanky patio. Others linger on the front steps of a vacant space next door, talking and texting on their phones. A couple holding hands crosses Madison and ducks into Local Gastropub. The windows of Boscos Squared offer a peek at diners eating and laughing.
Three men, who look to be in their mid-to-late 50s, walk past Bar Louie, and one points in the direction of a parking lot beside the Bayou Bar & Grill across the street: "That's where the old Silky's used to be," he says. The men exchange a nostalgic "uh-huh" and "that's right."
Although vacant spaces remain in the previously left-for-dead Overton Square, a handful of new businesses and the promise of more have begun to resuscitate the iconic Midtown corner at Cooper and Madison."
The Broad Avenue Arts District has won a $350,000 grant from ArtPlace America, which will transform the warehouse loading dock at 2542 Broad Avenue into a performing arts stage and will turn the iconic Broad Avenue water tower into a piece of public art. The entire area will be known as the Broad Avenue Water Tower Depot.
Loeb Properties owns the warehouse buildings, which includes the water tower; we could not be more excited to provide space to further aid in the place-making efforts occurring on the street since late 2010, when the “New Face for an Old Broad” event was held in November of that year.
At the press event announcing the grant on May 22, Bob Loeb stated, “To see these cities that are regenerating and rebuilding themselves is just really exciting. It’s really regenerative if you give it a chance and part of pulling people together to work for the common good is a lot of fun.”
Mayor Wharton made the announcement at the press event, and stated, ““We are becoming known everywhere about creative place making. There’s only one of these. You can’t order this anywhere. This is uniquely Memphis.”
From the Commercial Appeal article:
“’This grant provides a major boost to an historic area of our city that has been going through a grass-roots renaissance,’ Wharton said in a prepared statement. ‘It is a creative use of space that will double as industrial warehouse and loading dock during the week, and as a public and artistic gathering space on weekends and for special events.’
The project entails the construction of a terraced seating and public art installation area, a national competition for an artistic design for the water tower; a dance festival, and eight weekends of free outdoor community dance concerts, including dance classes and live music.
‘The project and the grant could not have happened without the enthusiastic participation of Loeb Properties, which owns the warehouse and water tower, and Power & Tel, which uses the space and loading dock every day,’ David Wayne Brown, president of the Historic Broad Business Association, said in prepared remarks.”
Read more about the project:
Memphis Flyer | Memphis Business Journal | Memphis Daily News | ABC-24
The service station at 1923 Poplar faces Overton Park and neighbors one of Midtown’s cultural mainstays, Memphis College of Art.
In an effort to brighten up a very visible Midtown corner, Loeb formed a partnership with MCA, and a plan was devised to paint a mural on the east-facing side of the building. Visible driving east on Poplar, the bright colors and happy message are a welcome addition to the neighborhood.
The design class put together a booklet on the project, which summarized the project this way:
We first discussed our main objectives, that the mural should be about Midtown and legible while driving down Poplar Avenue. After exploring what we thought captured the spirit of Midtown Memphis, we decided to create a survey to compare our thoughts to others. They were essentially one in the same: that Midtown is lively and blooming. After some deliberation, we felt the mural should have an upbeat Midtown message, which we wanted to portray through geometric forms and bold colors. We chose the text “Midtown is Our Memphis” to transform the original “Midtown is Memphis” expression from an exclusive phrase into an inclusive one.
"There is a lot of moving and shaking going on in Overton Square these days as the area gets a well-deserved face lift.
When many think of Overton Square, they think of the food and beverage scene, but its redevelopment means adding fitness centers and it is all set to open by the end of the year.
"To have a vibrant downtown, you have to have a healthy Midtown," explained Bob Loeb, Loeb Properties.
Loeb says Overton Square is on its way to making a new name for itself.
"We've got food and beverage, we've got theater and film. We want art on the street, so we've got mosaics and murals," he said. Loeb says there is a possibility for a new tapas and crepe restaurant. But restaurants will not be the only attraction."
"The firm redeveloping Overton Square considers its task at hand to be playing to its Midtown audience – not only in building construction, but also in incorporating art.
Loeb Properties Inc. is investing more than $20 million to revive the once-booming arts and entertainment district of the 1970s and 1980s. That includes adding new tenants to expand Overton Square’s footprint, redesigning existing structures and building new ones, and implementing a dozen or so multimedia art projects throughout.
“We’re trying to get a little bit of everything – sculpture, mosaics, 3D interactive pieces,” said Louis Loeb, executive vice president asset management for Loeb Properties. “It’s really been sort of difficult because we haven’t had a budget for it. We want to do a number of things, and it’s just developed a life of itself.”"
Loeb Properties seeks opportunities to incorporate public art wherever possible to add a sense of place to every property.
Many art installations are taking shape or are in the works for Overton Square. The first piece in production is a mural by David Lynch, on the north-facing wall of the Bari Ristorante building, at 22 South Cooper. Upon first look, the wall has a lot of challenges, with the number of windows, electrical attachments, and wires:
Here are some words about the project from the artist, David Lynch:
"First it was an honor to work with Lou [Loeb] & Carol [Deforest] on such a main-statement mural for Overton Square in which I spent a lot of time in my youth – some good, some bad. The area is so rich in character with the older buildings and with Overton Park as the backdrop, that I wanted to capture that in the art piece.
As for the Bari Wall itself, some would say that it would be hard to incorporate 13 windows, 2 doors and a lot of meters and wires into a mural, but I envisioned the basis for the final mural from the first time that I saw the wall. It is actually a combination of art styles, one being my contemporary cityscape style, then I blended in a bit of folk art styling – in the sense that I layered the buildings to give it a look of depth, but all the facades are facing forward – yet the piece still has depth and dimensions."
Watch this public artwork continue to take shape; we look forward to enjoying the impact it will have on Overton Square’s aesthetic presence. Patrons will be able to enjoy this creative and colorful masterpiece for years to come.
In partnership with the Mayor’s Innovation Delivery Team and Indie Style Market, Loeb has been pleased to help sponsor the very first “MemShop” at Overton Square.
In an effort to activate vacant storefronts for pop-up shops, the Mayor’s Innovation Team and Indie Style Market have organized over 40 local artisans and creatives to come together and sell their goods in a market-like setting (with a single point-of-sale) for the three weekends in December leading up to Christmas. In addition, Downtown Memphis clothier Sache has set up shop, along with Cosmic Collective, which is a partnership between Cosmic Coconut and Give Yoga Memphis. Bluff City Coffee is also selling coffee on-site.
Quoted in the Daily News article on Memshop, Abby Miller, project manager for the Mayor’s Innovation Team, said the following:
“This MemShop at Overton Square is the first time we’re doing a longer-term sort of pop-up shop,” Miller said. “We do plan to continue this initiative throughout the coming years, looking at other neighborhoods in the Madison/Cleveland corridors, as well as South Memphis and Binghampton. The longer-term vision is to have more frequent and regular pop-up shops to help businesses and entrepreneurs enter the market or test new markets around the city.”
The first Friday MemShop was open, Santa came to light the Overton Square Christmas tree. Mayor Wharton joined us in our celebrations. Loeb Properties is pleased that Overton Square can be used in such a creative and resourceful way for the community and neighborhood, especially during this period of ongoing construction and renovations.
To learn more about MemShop, please visit their facebook page.
More coverage of MemShop can be found at the following links:
Work has proceeding at Griffin House, a.k.a “The Cottage,” at 2116 Madison in Overton Square. Formerly connected to Paulette’s, numerous structural repairs and cosmetic updates have been taking place to improve the property. The house is approximately 1,500 square feet, would work well for restaurant or retail (there is a small kitchen in the back), and it is currently for lease.
Tom Hayes, Loeb’s VP Construction, tells us this about the building:
Leighnora Elizabeth Griffin, moved into this house in 1919. During the mid-70s heyday of Overton Square entertainment district, she and her husband, John, continued to live in the house and turned down many offers to purchase this home. She lived here until her death at age 89 in 1991.
The Cottage was then combined with the Paulette’s restaurant by two breezeways. The front breezeway was the main connector and included seating. The rear connector was a service hallway. This created a private courtyard between the two buildings that was used for outdoor seating.
Our marketing research for our revival of Overton Square showed that the conjoined building was not a viable option leasing purposes. We then demolished the connectors to separate the structures once again. Because we had just completed major structural repairs at the old Yosemite Sam’s building with great success, we made the decision to keep the Cottage despite the structural repairs that needed to be made.
In addition to the actual house, we are developing a walkway to be called Griffin Walkway that goes between the two structures from Madison to LaSalle. At the rear of the Cottage, we are developing Griffin Garden that will be a small public park under the two large oak trees in the rear. A small security office is being built there. We also are planning two art projects and a bicycle parking area. We have spent about $50,000 on the exterior of the Cottage and adjoining area, and will spend another $50,000 on patios, walkways, and other exterior items in this immediate area.
The overall plan is that we will have a walkway that traverses the entire of Overton Square. It starts on the South where the new garage empties into the old Friday’s alley, then crosses Madison, then down the new Griffin Walkway, through the Griffin Garden, to the North parking lots.
The yellow cottage with a white picket fence is the geographic center of Overton Square and will be distinctive. We can’t wait for it to be a new retailer or restaurant and for the Garden to be a meeting spot.
Some of the most fun we have in our commercial real estate business is getting to rehabilitate older buildings and give them a new life for a new generation.
See our post on the Yosemite Sam’s (now Local Gastropub) rehab job, mentioned above, here.
Ready to get updated on all that's happening at Overton Square?
Bar Louie: The air-conditioning units that were removed this past Friday were from the top of the future Bar Louie space, at 2125 Madison. They have already started construction and demo work inside, and are also planning to build a 1,700 SF outdoor patio. They plan to be open for business in February 2013.
Renovation Plans: Renovations to the “west building” (2087-2097 Madison, the building which includes Memphis Pizza Café & Golden India) are currently underway. We have made extensive structural repairs to each space, internally and externally, and we are painting the exterior with the new color scheme (our designer is Jack Rainey of Rainey Contract Designs). Other changes include added modern commercial storefronts to the Trimble-facing spaces and repaired rear balconies for the Madison-facing spaces. We are making these renovations and changes to bring the buildings up-to-date and more leasable for today’s retailer, while maintaining their historical character.
Other Renovations: The “east building” (the curved building including Bar Louie and the former Friday’s space, 2115-2125 Madison) exterior and interior structural repairs, including painting and art (see below). The middle building (or “atrium building”) will begin major renovations January 1.
Memshop/Holiday Market: The Mayor’s Innovation Team is sponsoring a pop-up holiday market at Overton Square with over 30 artists selling their wares, as well as a community café, a pop-up clothing store, music, and more. It will take place the three weekends leading up to Christmas. See their facebook page for more information.
2116 Madison/”The Cottage”: After demolishing the breezeway that connected this building to the former Paulette’s, extensive structural and exterior repairs have been made to this 1,500 sf former residential building, including the addition of a handicap-accessible ramp. It is now being painted and an outdoor patio is planned for the “front yard” facing Madison Ave. While it is still currently available for lease, we are getting close to signing a lease with a new restaurant concept who would open late winter/early spring 2013.
This is being headed up internally by Lou Loeb. Local artist Carol DeForest has been hired as our public art consultant; together with Lou and the Overton Square arts committee, the following projects are underway:
"Panera Bread Co. is coming to one of Midtown’s busiest streets following years of site selection in the area.
The St. Louis-based fast-casual sandwich franchise plans to open in the 4,588-square-foot, freestanding space that is currently a Pizza Hut at 1961 Union Ave. by early May.
Rick Postle, who owns Panera franchise rights to the Memphis area along with his wife, Rosemary, under the entity Delta Dough Inc., said Panera’s new Midtown store will not only fill unmet demand in the area but will be the first location in West Tennessee with a drive-thru."