Boyle Prepares for More Retail, Office Development in Collierville 

The Memphis Business Journal

By Jacob Steimer

Boyle Investment Co. is preparing Schilling Farms for more office buildings, retail bays, and, potentially, apartments.

The 443-acre Collierville community has had a dearth of shovel-ready office lots since Boyle sold a 3.4-acre site to Mueller Industries in 2017, Boyle’s Les Binkley said. This drove the firm to start grading 54 undeveloped acres in the northwest corner of the community this summer, with hopes it could eventually hold three office buildings.

“There is activity in the [Memphis office] market we want to be able to capitalize on,” Binkley said.

The concept site plan for the 54 acres, which Boyle submitted to the Town of Collierville earlier this year, shows four retail buildings and a large apartment complex alongside the three office buildings.

Binkley did not give a timeline for the project but said his firm will likely start the expansion by building a pair of 10,000-square-foot retail buildings near the corner of Schilling Boulevard West and Poplar Avenue. The office buildings would start being developed as soon as each one is substantially leased.

The apartment complex will be built “eventually” but isn’t in the firm’s immediate plans, Binkley said. His company decided to go ahead and grade the entire 54 acres, though, since it will be easier than doing it piecemeal.

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Spa-like Health Clinic to Open in Former Lululemon Location

The Daily Memphian

By Michele Corbett

June 13, 2019

A new health and aesthetics clinic opening in East Memphis demonstrates both a trend in health care and in retail centers.

Not long after yoga-inspired athletic apparel company Lululemon Athletica moved out of the Regalia shopping center at Poplar Avenue and Ridgeway Road and into Saddle Creek in Germantown, landlord Boyle Investment Co. decided to take the retail bay in another direction.

“More and more people aren’t buying clothes in the mall anymore,” said Dr. Phillip Zeni, a board certified vascular and interventional physician. “They’re buying them online, so Boyle needs more leasees who have a reason to be in a brick-and-mortar location like us, where we have to see the patient.”

Zeni is opening Zenith Health and Aesthetics, a spa-like interventional radiology clinic, in the former Lululemon space on Friday.

He’s spent approximately $1 million to transform the 3,000-square-foot store into a clinic with three exam rooms, two ultrasound rooms, one main lead-lined procedure room and two recovery bays.

“While service is huge for the future of retail, it has to create some kind of experiential component for growth and success,” said Jonathan Aur, the commercial real estate broker who represented Boyle in the lease. “(Zeni) did it right partnering up with Farmhouse and Graham Reese to not only create a medical service, but somewhere that truly compliments the other retailers.”

To turn the former retail space into a clinic with a spa-like setting, Zeni hired interior designer Graham Reese and general contractor Grinder, Taber, & Grinder to complete the approximately $1 million renovation. Farmhouse created the branding for the business.

Zeni knew he wanted to be close to the intersection of Poplar and Ridgeway, the third busiest intersection by traffic count in Tennessee — the other two are in Nashville — and within the triangle of three major hospitals, Saint Francis-Memphis, Methodist Le Bonheur Germantown and Baptist Memorial Hospital-Memphis.

“This financial district is now, I think, the center of the city,” Zeni said. “It’s where the hub of the city is.”

Zeni oversaw several outpatient clinic and physician office renovations over his more than 15-year tenure at Baptist Memorial Health Care, most recently as director of interventional radiology.

After nearly 20 years working in a hospital setting, Zeni wanted the freedom and flexibility that comes with opening his own private outpatient center.

“Dealing with the hospital can be difficult in terms of caring for the patient,” Zeni said. “I wanted to do something different where I can control the care. I really pride myself in taking care of the patient.”

While most radiologists read films, Zeni uses X-ray and ultrasound imaging to guide him during procedures such as treatment for varicose veins.

The traditional treatment for varicose veins was surgical removal that required hospitalization, but technology over the past few decades has enabled physicians to block the vein off in place using a laser, turning a major procedure into a minimally invasive one.

“As we use these microtools more and more, people don’t really need hospitals like they did in the past,” Zeni said. “As the tools and the incisions get smaller, people can go home and recover in their own bed.”Zeni’s wife, Victoria Lim, is an ear, nose and throat specialist at Shea Ear Clinic across the street, one of the first ambulatory surgery centers in the U.S.

“They were trying to get rid of the hospital 30 years ago, and it’s worked well for them,” Zeni said.

Outpatient centers also enable patients to avoid paying a hospital fee.

Over the years, health insurance companies have increased the number of codes and payments for procedures performed at outpatient centers as a cost savings that avoids the hospital fee.


“Dealing with the hospital can be difficult in terms of caring for the patient. I wanted to do something different where I can control the care. I really pride myself in taking care of the patient.”
Dr. Phillip Zeni, Zenith Health and Aesthetics


Blockage of the arteries, or arterial disease, will be another outpatient focus for Zenith Health through the use of balloons and stents.

While many of the vascular procedures will be covered by insurance, the clinic will also offer elective cosmetic procedures such as spider vein removal, CoolSculpting, Botox and fillers that will not be covered by insurance.

All cosmetic procedures will be supervised by physicians, which sets Zenith Health apart from other clinics that have aestheticians overseen by an off-site physician, Zeni said.

Dr. Chris Hall, a board-certified plastic surgeon, is the cosmetic consultant. Plastic surgery procedures such as facelifts could be offered as a future service.

With foot traffic from the shopping center, the clinic will also carry medical-grade skin care line Obagi.

Zenith Health will open Friday with four full-time employees, a nurse, sonographer, X-ray technician and medical assistant. A ribbon-cutting and opening reception will be held from 4-6 p.m.

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Boyle Prepares for More Retail, Office Development in Collierville 

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On a Mission to ‘Make Life Sweeter’: Sweet LaLa’s Bakery to Open in East Memphis

The Commercial Appeal

By Jennifer Biggs

Life is about to get sweeter in East Memphis.

Sweet LaLa’s Bakery is opening a retail bakery and cafe Thursday in Regalia Center. The bakery and cafe will be in the former Lori James spot at 6150 Poplar Ave., Suite 118.

Lauren Young, Sweet LaLa’s founder and owner, decided it was time to add a retail component to her 17-year-old business.

“I started Sweet LaLa’s out of my home kitchen back in 2001,” Young said. In 2014, she formed a partnership with JIFF, a juvenile intervention facility in Downtown Memphis, to expand the business while helping the community. For the past four years, Sweet LaLa’s has baked its cookies out of JIFF’s kitchen, employing JIFF students. As the business grew, it soon became evident to Young that she needed a retail space in order to grow Sweet LaLa’s to the next level.

The menu

Sweet LaLa’s bakery has become famous for its signature cookies. The cookies are soft, sweet and dense, more like a tea cake than a cookie, and come in nine flavors.

“What people say they love about the original is that it’s memorable,” Young said. “Every cookie flavor has started with that one.”

With the new bakery, Young is expanding her line of offerings. In addition to her signature cookies, she will also sell gourmet cakes, assorted pastries, soft-serve ice cream, milkshakes, breakfast pastries and a light lunch. Included in the mix are Young’s great-aunt Hilda’s handmade pizzelles, which she said are great with coffee. The bakery also will have a full coffee bar.

“One of the items we think will be popular with the high schoolers in the neighborhood is our ‘Triple the Fun’ sundae,” Young said. Three cookies are served with soft-serve ice cream and your choice of three toppings. “It’s perfect for sharing,” she added.

Young partnered with City & State on her coffee bar. Sweet LaLa’s will offer a private-label Mexican roast coffee for its drip coffee and has partnered with Sunergos Coffee out of Kentucky for its espresso offerings.

Breakfast will have what Young describes as a “sweet roll” approach, with items that appeal to adults and items for kids. Banana bread mini loaves, Rainbow Cream treats (a Rice Krispies-like treat made with Fruity Pebbles cereal), sausage and cheese biscuits and avocado toast are a few of the menu items to expect.

Young will also carry locally and regionally made sweet treats by various food artisans. Shotwell Candy Co. caramels, Backhouse Foods dessert toppings and Bluff City Toffee are a few of the Memphis-based brands she will sell. Regional offerings include Blackberry Farm jams and jellies and Soberdough bread mixes.

The space

The retail space at Regalia Center is close to 3,000 square feet and includes an upstairs. The bakery, retail space and cafe will be on the ground floor.

Designed by Natalie Lieberman of Collect & Curate Studio, the space is cheery and open.

“We want people to feel like they are walking into someone’s really nice home kitchen,” Young said of her vision for the bakery.

The centerpiece is the bakery, which is an open display kitchen. Guests can watch all the action as the bakers hustle and bustle in the kitchen creating the sweet treats for the display case and special orders.

Floor-to-ceiling windows, white walls — some with wallpaper and others with tiles, as well as tables with zinc tops, create an inviting cafe space. Seating will be for 35 to 40 guests.

A flight of stairs leads up to an event center on the second floor. That space is divided into two rooms, one being a private dining room and the other being an open mezzanine that overlooks the main floor. The upstairs space can seat up to 24 guests.

The event space will be used for private events as well as cooking classes. Young plans to start by offering two to four classes per month. “We will be doing everything from decorating classes to making cookies from scratch,” Young said. “Our local vendors will also be hosting classes.”

The mission

As her business grew, Young quickly realized she needed a retail component that operated every day. But she knew she wanted her new bakery to continue her mission of making a difference.

Embracing the theme “make like sweeter,” she plans to highlight philanthropic ventures like Thistle & Bee and Shepherd’s Haven Pottery.

JIFF will also continue to be part of her enterprise.

“We have partnered with JIFF for them to make 500 cookies per week,” Young said. “Every nine to 12 weeks, two students will be trained for us, not only in making cookies but also getting their ServSafe certification to help them better find permanent employment in a food service job.”

Young has also hired some JIFF graduates to work at the new bakery, including John Young (no relation to Lauren Young) who has been nicknamed by the staff as “Dr. Sprinkles.”

“Every day when I come in the store I get giddy knowing that one cookie turned into all this,” Young said as she looked around her new bakery.

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Sweet LaLa’s Sweetens Life in East Memphis

The Daily Memphian

By Jennifer Biggs

Chances are you never baked a cookie for the reason Lauren Young started baking them at Sweet Lala’s, which will open in its new location at Regalia on Thursday.

She had a home baking business and was also involved with the program JIFF, Juvenile Intervention & Faith-based Follow-up. When the kitchen at the JIFF center in South Memphis lost its operating grant, she decided to move her bakery there and pay the JIFF kids to work for her as she taught them a trade. There was this plus:

“When you’re out somewhere with people and you start talking about juvenile justice, maybe people stop listening or they think it’s too serious, so I thought, well, maybe I can still have the conversation but change it to something more upbeat. Like a cookie,” Young said.

Savory sausage and biscuit pinwheels are a new item at Sweet Lala’s. (Photo courtesy of Lauren Young)

And so she did. She operated Sweet Lala’s from the former Abe Scharff YMCA at 254 S. Lauderdale from 2014 until she started preparing to open the Regalia shop. John Young, who is not related to Lauren, is a former JIFF participant who has moved to the East Memphis location with her and is working as a lead cook in the kitchen, training others how to operate the bakery. She plans to hire more kids from JIFF soon.

John Young was 15 when he was arrested and ended up in the program after going through Juvenile Court.

“It was sort of an entrepreneurial opportunity I was involved in,” he said.

But as it involved stealing and selling lawn equipment, it was of the illegal sort, and he was prosecuted for it.

“I’ll tell anyone about it, because that’s who I was, and now I’m comfortable with who I am,” he said. “If my story helps anyone, I tell it.”

He entered JIFF (find out more information by clicking here) before Lauren had the space for Sweet Lala’s. When he met her, he was 19 and though he was done with his vocational training there, he kept coming around because he needed the stability of the center.

“I felt comfortable there,” he said. “I was still finding out who I was as a person, and finding out can be hard. Going through changes and finally changing are two different things.”

He was there anyway, so she asked him if he wanted to work. He did, and they’ve been on the same team since.

Humble Pies, stuffed with fruit on a cookie crust, are ready for the oven.

The new bakery is in a prime spot, next to Ronnie Grisanti’s, Great Wines & Spirits and Oak Hall. It will primarily serve breakfast and lunch, but there’s an upstairs event space that’s already booked for baking classes and available for other events such as birthday parties or even corporate events.

A grab-and-go case will include items from Franco’s Italian Kitchen, and owner Franco Contaldo has agreed to provide pizzas for private events; there’s also a package available from Central BBQ, just across the street, for private events. Dave’s Bagels are one of several other local and regional products that will be available.

But the bakery with the motto “Make Life Sweeter” is also still, well, a bakery. Eight signature cookies will be available daily. There will be a red velvet cupcake every day (and more coming); croissants; a hand pie called Humble Pie that’s made from a cookie crust and stuffed with fruit; cinnamon rolls; and savory items such as sausage rolls made with biscuits.

Hours at Sweet Lala’s will be 7-11 a.m. Mondays and 11 a.m.-6 p.m. Tuesday through Saturday.

Lauren Young is excited to show off her new space and her new food.

“We’ve only been a cookie business, so this is a big deal for us,” she said. “It’s like our coming-out party.”

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Sweet LaLa’s Bakery to Open in Regalia

The Commercial Appeal

By Jennifer Chandler

Sweet LaLa’s Bakery is opening a retail bakery and cafe in Regalia Center on March 22. The bakery and cafe will be in the former Lori James spot at 6150 Poplar Ave., Suite 118.

Lauren Young, Sweet LaLa’s founder and owner, decided it was time to add a retail component to her 17-year-old business.

“I started Sweet LaLa’s out of my home kitchen back in 2001,” Young said. In 2014, she formed a partnership with JIFF, a juvenile intervention facility in Downtown Memphis, to expand the business while helping the community. For the past four years Sweet LaLa’s has baked its cookies out of JIFF’s kitchen, employing JIFF students.

Her new bakery will continue her mission of making a difference. Embracing the theme “make life sweeter,” she will highlight philanthropic food ventures like Thistle & Bee and Shepherd’s Haven pottery. She will also carry locally and regionally-made sweet treats by various food artisans.

The retail space at Regalia Center is close to 3,000 square feet and includes an upstairs special event space. The bakery, retail space and cafe will be on the ground floor. The bakery will offer her signature cookies, plus other baked goods, soft serve ice cream, a coffee bar and light breakfast items.

 

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New Restaurant Going in Corner Spot in Cooper Young

The Daily Memphian

By Jennifer Biggs

The northeast corner of Cooper and Young that most recently housed Strano has a new tenant coming. Jose Flores will open a Margaritas there in the next few months.

“We are very excited about this spot. It’s going to be Margaritas, but we’re going to have new dishes that will start with when we open it,” Flores said.

He’s hired a chef and recipe developer who works for a family-owned chain in Texas as a consultant and she’s helping Flores  bring trends from Texas to Tennessee. Dishes currently under development include Tex-Mex smoked tuna, a ribeye fried in a tortilla and Mexican spaghetti.

Flores owns about 20 restaurants, most of them in small towns within an hour’s drive of Memphis – Covington, Oakland, Atoka and so on, but also a few in Georgia and one in Knoxville and another in Chattanooga. All the places in the Memphis area, including one on Germantown Parkway and one in Downtown, are called Margaritas. They used to be Las Margaritas, but Flores changed the named a year or two back.

“Every sign cost me $3,000 more with the Las,” he said.

Besides an updated menu, he’ll have a bar program that will include a variety of margaritas as well as other cocktails. He plans to be open by May.

Jonathan Aur of Boyle represented the landlord and Margaritas in the transaction.

 

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Three years later, Boyle Development in Germantown Moving Forward 

Memphis Business Journal

By Jacob Steimer

A 50-home development on Germantown’s border with Memphis is moving forward after years of slow progress.

Boyle Investment Co.’s Allelon development first received the Germantown Planning Commission’s approval in September 2016. On March 5, Boyle will return to the Commission to make a change and get its final plat approval, so it can finally start construction of homes this year.

The delay was primarily caused by rain and soil issues, Boyle vice president Gary Thompson said.

“We’ve had exorbitant rains since April 2017,” Thompson said. “[And], we had a ton of bad dirt [that] we could not process affordably so we had to end up hauling [that] away.”

While going through this extra long process of site preparation and road installation, Thompson said one message came through loud and clear from potential buyers: the neighborhood should be gated.

The original plan was to not gate the neighborhood, which would allow the City of Germantown to pay for road maintenance instead of residents. But, Thompson said people willing to pay $700,000 or more for a house in Germantown — and the builders willing to build them — are now insisting on gated neighborhoods.

“I’m not a particular fan of [gates],” Thompson said. “[But], the plus for the citizens of Germantown is they won’t have the costs of maintaining the roads and the drainage. … [And] it gives [residents] some sense of security at night.”

The homes are set to range in size between 4,000 and 5,000 square feet.

Thompson is hoping construction will start on the first 10 or so homes in May and be finished early next year. From there, he expects between 10 or 15 homes will be built per year, barring a recession.

For that to happen, though, Memphis’ rain streak will have to end, which doesn’t seem likely to happen soon.

“This week we’ll probably be washed out completely [and then] we’ll need three to five [clear] days before it’s dry enough to work. [But], we’re not going to get that [next week],” he said.

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Healthy East Memphis Office District Can Absorb Some Loss to Downtown

The Daily Memphian

By Tom Bailey

There’s a bit of “robbing Peter to pay Paul’’ in FedEx Logistics’ decision to consolidate its headquarters operations from scattered East Memphis sites to Downtown Memphis.

But the good news for Memphis is that Peter, also known as the East Memphis office submarket, is pretty wealthy and can absorb the loss.

Even better news is that of the initial 680 jobs FedEx Logistics is moving to its Downtown headquarters, 350 are coming from outside Memphis.

Still, the shuffle involves some Memphis subtraction. FedEx Logistics will vacate 25,000 square feet in the Crescent Center, and about 65,000 square feet total in the Primacy I and Primacy II office buildings near St. Francis Hospital.

The Crescent Center is the curved, nine-story building of polished granite and tinted glass on Poplar at Ridgeway.

The Crescent Center is one of the highest-quality office buildings in Memphis and has “very little’’ vacancy now, said Steve Guinn, vice president in Memphis for Highwoods Properties, the owner of Crescent Center.

“Twenty-five thousand feet coming back is not insurmountable,” he said. “It’s not a blow.”

In the language of commercial real estate, Crescent Center space is “Class A.”

The building is so high-end that one of the restaurants built at the foot of it, Capital Grille, doesn’t just offer salmon for lunch but “seared salmon with avocado, mango and tomato salad with champagne vinaigrette.” The menu lists not just a cheeseburger but one that’s a “blend of short rib, chuck and brisket by Pat LaFrieda.”

For many years now, companies with the means have wanted to be in East Memphis far more than anywhere else in the city. That’s why the average asking price there of nearly $27 a square foot for a Class A lease is substantially more expensive than any other submarket, according to the latest stats assembled by CBRE.

By comparison, the average asking lease rate for Class A space is $17.93 in Downtown, $19.13 in the Tenn. 385 Corridor, $19.50 in Midtown, and $19.37 in Northeast Memphis.

The low vacancy rate for East Memphis Class A space, just 7.4 percent, reflects the demand there. The average Class A vacancy rate for all Memphis office districts is 10 percent, and is 15 percent in Downtown Memphis.

FedEx Logistics is not even the largest tenant in the Crescent Center, which is like Alabama football. Crescent Center doesn’t rebuild after the stars move on, it reloads.

And reinvests. Highwoods recently started a “several million-dollar” construction project renovating the “hardscape’’ area on the grounds of the Crescent Center.

“We are redoing the courtyard in the rear of the building,” Guinn said. “And doing the entry areas. All the hardscape around the building is being redone. We’ll have tenant-amenity areas in the back, in the courtyard, with big shade structures, benches.”

The Crescent Center’s occupancy rate is about 95 percent. And among all Highwood Properties’ Class A buildings in Memphis, totaling 1.7 million square feet, the occupancy rate is 92 percent, Guinn said.

There’s no need to shed a tear for East Memphis in the wake of the FedEx Logistics announcement.

“With Class A vacancy along Poplar being 4 percent, don’t worry about it,” said Ron Kastner, senior vice president for the commercial real estate firm CBRE in Memphis.

East Memphis accounts for 40 percent of the city’s 24 million square feet of Class A and Class B office space, Kastner said. That’s double the next largest submarket, the 18 percent of Class A and B space in the Tenn. 385 Corridor. Downtown has 14 percent of the space.

Often when companies consolidate office space they achieve efficiencies and wind up with a smaller footprint than the sum of the previous locations.

That is not the case with the FedEx Logistics consolidation and move into Downtown’s Gibson Guitar Factory. The renovation will expand the Gibson building from 154,000 square feet to 200,000 square feet.

The move also is triggering the mixed-use development next door to the Gibson Factory of The Clipper, which will cost $250 million and entail a 200,000-square-foot office tower, 250-room hotel and 50,000 square feet of retail.

“The buzz of Downtown and excitement of Downtown is like none other,” Kastner said. “I don’t think any of the other (office submarkets) have the offering of providing an exciting workplace for employers to house their employees.”

The key to maintaining and improving occupancy rates in all Memphis office districts is recruiting new, white-collar jobs from out of town, not moving them from one part of the city to another, said Mark Halperin.

He’s executive vice president and chief operating officer for Boyle Investment Co. The venerable company’s portfolio of Memphis office buildings is anchored in East Memphis.

“It’s not been as profitable as you might guess,” Halperin said of being a landlord of East Memphis office space. “The real estate taxes are extremely high. We’ve not gained a lot of ground.

“We’ve had good occupancy. But we need growth. We need more people coming from out of town, not just musical chairs.”

With new technology, businesses are more productive with fewer people and less space. “We have to have growth, beyond organic growth,” Halperin said.

One episode of musical chairs within Memphis involving ServiceMaster, Thomas & Betts and Sedgwick has left Boyle with about 200,000 square feet to fill.

So even out East, Halperin said, “there’s a good bit of space available … There’s good space in the community that’s not Downtown. We need all of it occupied.”

FedEx Logistics’ new headquarters Downtown is good for Memphis, he said, adding that Memphis would be a different place were it not for FedEx and its widespread community involvement.

“FedEx, in my view, is the economic engine that drives the whole community,” Halperin said.

Developers have recently announced plans for three or four big office buildings for Downtown.

In addition to The Clipper, a 200,000- to 400,000-square-foot office tower for One Beale is to be built by Highwoods Properties once an anchor tenant is found.

And Union Row developer Kevin Adams plans to build two office buildings at Union and Fourth. One is to be speculative and the other build-to-suit for a yet-to-be-named tenant. Those buildings, part of the $950 million mixed-use Union Row development, would total about 350,000 square feet.


“I don’t know if you can build all that space speculatively without tenants,” Halperin said. “I don’t know if the capital markets and equity markets will support that or not without anchor tenants.”

Still, all the activity is good for Memphis, he said.

“If the playing field is level, I don’t have much concern” about negative effects on the East Memphis office market. “But if there are tons of incentives to move people out of the suburbs to Downtown, at some point I don’t know if it’s sustainable.”

The suburbs pay a lot of taxes, which the entire community needs, he said.

So far, the FedEx Logistics project Downtown is to receive  $34.5 million in tax breaks and grants.

Halperin said he supports Downtown but at some point, giving incentives to companies to move from one part of Memphis to another becomes counter-productive.

“I’m a big fan of our leadership in the community,” he said. “We’ve got good leadership and I want to be supportive of that.”

Some Downtown officials have said there’s a lack of Class A speculative office space Downtown, indicating that inventory needs to be built to attract new businesses.

“Inventory costs a lot of money to carry – taxes and insurance and maintenance cost,” Halperin said. “Empty buildings are expensive for people who own them.”


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Developers Closely Watch Germantown’s Plans for Golf Course

The Daily Memphian

By Tom Bailey

January 25, 2019

A cyclist cruises down the entry drive to Germantown Country Club during his routine 10 mile route. Residents of the neighborhoods surrounding the golf course frequently bike or walk through the courses golf cart paths. (Houston Cofield/Daily Memphian)

The venerable Boyle Investment Co. is among the development companies closely watching what Germantown and the property owners want to do with Germantown Country Club’s 180 acres.

So is Kevin Hyneman Cos., which has transitioned over the years from building starter homes by the hundreds to subdivisions of $1 million-plus houses around Nashville.

Some developers are watching to see if club members might buy and maintain the golf course, or to see if the city will purchase it for a public park.

If those things don’t happen, developers will watch to see which real estate broker markets the property and what the timetable and process for a sale would be.

And even if the property is offered for housing, some developers will take Germantown’s temperature before diving in. The suburb has proven to be difficult – or cautious – toward developers who propose new things, whether they be apartments, high density or in this possible scenario, changing a golf course into high-end housing.

“I would pursue this with extreme caution,’’ Hyneman said Friday. “Right now, Germantown is a very difficult environment to be a developer out there. … The environment there is volatile and emotions are so high, it will run some people off that normally have an interest.”

Boyle Investment Co.

Whether the 86-year-old company becomes involved in any redevelopment or not, Boyle has a point of view that no other firm could possibly have: Boyle developed Germantown Country Club (then called Farmington Country Club) and the surrounding residential neighborhoods from agricultural fields a half-century ago.

“It was the first thing I worked on in 1968 or ’69 when I came to work at Boyle,’’ said Russell Bloodworth Jr., now an executive vice president. “I worked on one of the golf pavilions.”

The family trust that owns the 18-hole course with clubhouse, tennis courts and a swimming pool announced the club will close Feb. 28.

Germantown Mayor Mike Palazzolo has said the city will study the possibility of buying the property for a park. A parks master plan steering committee will meet about the issue Feb. 9 to make a recommendation.

TOM BAILEY: Germantown starts study of possible golf course purchase

Otherwise, Palazzolo has said he would oppose the property being rezoned for commercial uses. The site has underlying, residential zoning for lots that are at least 15,000 square feet.

Boyle Investment Co. has a large portfolio of high-end commercial, office and residential developments.

“We are certainly interested in particularly larger parcels that are well-located,” Bloodworth said. “We would be interested if that was in the best interest of Germantown and the surrounding residents; that would be key.”

Boyle has been “watching the situation to some degree” since club members were informed of plans to close.

“If it did not become a park or continue as a golf enterprise and was to be developed for a different use, I would assume the use would need to be residential,” Bloodworth said. “And the mayor was clear that was his perspective as well.”

The Germantown Country Club is under new management with possible development plans for the golf course which may include a new neighborhood community. (Houston Cofield/Daily Memphian)” src=”https://www.boyle.com/api/image/5503/740″ border=”0″ data-largeheight=”2182″ data-largewidth=”3000″ data-large=”/api/image/5503/960″>

The Germantown Country Club is under new management with possible development plans for the golf course which may include a new neighborhood community. (Houston Cofield/Daily Memphian)

The property bounded by Farmington to the south, Kimbrough to the west and Wolf River Boulevard to the north has rolling hills and mature pines and oaks.

“It could be terrific” for development of new houses, Bloodworth said. “It does have some challenges because you have got to be really thoughtful about all the adjoining homeowners if you did do any development.

“I’ll be happy if it remains open space and will be happy if it’s well and beautifully developed, but won’t be if it’s not.”

Bloodworth has weighty credentials. A graduate of the University of Virginia who studied environmental design at Yale, he received a lifetime achievement award from the Lambda Alpha real estate fraternity in 2010, was inducted into the Commercial Real Estate Hall of Fame by the Memphis Area Association of Realtors in 2009, and is a past president of the Memphis chapter of the Urban Land Institute.

He describes the theme running through Boyle’s residential developments as “great attention to the natural landscape and the environment.’’ The company also imposes some architectural control that raises the quality of the house designs in its developments, he said.

“All of those things need to be employed no matter who does it at the Farmington community, if the city mothers and fathers decide they are open to actually having it developed.”

Among the leafy, residential developments Bloodworth and Boyle have built over the decades are: additions to River Oaks such as The Cloisters and Gardens of River Oaks, and Green Shadows and Blue Heron, all in East Memphis; Schilling Farms and Spring Creek Ranch in Collierville; and The Pinnacle and Allelon, both in Germantown.

A residential redevelopment at the golf course could be special, Bloodworth indicated.

“The main thing that would make a wonderful development to me is the small pockets … small clusters of houses and open space where you’d need buffering between existing homes and what is now the course.”

Kevin Hyneman Cos.

Hyneman has done the rough assessment and math, which shows a residential redevelopment of the golf course could work financially, he said.

Only about half the acreage is buildable because of flood-prone areas, meaning about 150 houses could be built, he estimated.

Like Bloodworth, Hyneman said he would be happy if club members bought and kept the course open or the city bought it for a park.

“It’s an emotional piece of property for the city, citizens and a lot of people that hate to see it be developed for residential development. I think it’s highly likely the city will be able to put together a deal,” Hyneman said.

But if that doesn’t happen, “we’d be bidding on the property,” he said.

It’s challenging these days for a private golf course to succeed. Owners of the semi-private Stonebridge Golf Course have defaulted on their loan and the Lakeland course is scheduled to be sold to the highest bidder on the courthouse steps next month. Colonial Country Club has closed one of its two courses with plans to redevelop it.

“It’s just hard for a club to make money these days,” Hyneman said. “You’ve got deferred maintenance, you can’t continue to increase the dues and maintain the club.”

Hyneman’s rough calculations for redeveloping the site include estimating the cost for asphalt, curbs and gutters, grading, drainage work, and amenities like walls and a possible pool.

To absorb the costs and make a profit, he said, “you’re looking at million-dollar houses.”

Build out would likely take 10 years, he said. “You’ve got to put forth the time and effort to manage the elevations (exterior appearance of the houses), the streetscape, and maintain. It’s not something you develop, sell the lots and walk away.”

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Lululemon Replacement at Regalia

Memphis Business Journal

By Jacob Steimer

East Memphis’ Regalia Shopping Center has a new 3,000-square-foot tenant.

Zenith Health and Aesthetics recently signed a lease for the Boyle Investment Co.-owned space that was formerly home to Lululemon.

Zenith — owned by Phillip Zeni — will treat varicose veins and multiple other vascular problems, according to a news release. The location is set to open in spring 2019.

Graham Reese and Ben Fant are designing the Zenith space. Boyle broker Jonathan Aur represented his company in the lease.

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Regalia’s “Sip & Shop” Event to Raise Money for Scholarships

Daily Memphian

By Tom Bailey

The “Sip & Shop at Regalia” event will offer guests tastes of foods and beverages from the center’s restaurants and other businesses, as well as live music, sales and door prizes.

The event from 5 to 8 p.m. on Thursday, Oct., 18, is a fund-raiser for the Memphis Opportunity Scholarship Trust. The organization provides need-based scholarships for pre-kindergarten through 12th grade at Memphis-area private schools.


Regalia Shopping Center, 6150 Poplar, is at the northeast corner of Poplar and Shady Grove.

Regalia businesses providing food and beverages include Great Wines & Spirits, Owen Brennan’s, Salsa Cocina Mexicana, Ronnie Grisanti’s Italian Restaurant, Paradise Café and Sweet LaLa’s Bakery.

Among the stores participating in the event are Dazzle, Destination Maternity, Eye Spectrum, A Fitting Place, The Find – Designer Home Outlet, Oak Hall, RSVP Stationers/RSVP Baby, Southern Couture and Vineyard Vines by Oak Hall.

Jeremy Shrader Quintet, Slowfire and Memphis University School’s Beg to Differ will provide live music.

Tickets are $20 per person online at sipandshopregalia.eventbrite.com through Wednesday, Oct. 17, or $25 the day of the event purchased either online or at Regalia. Those buying a ticket early will be entered into a drawing for a $100 gift certificate good at Regalia businesses.

Boyle Investment Co. manages and leases Regalia.

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Sweet LaLa’s Bakery to Open a Retail Location in East Memphis

The Commercial Appeal

By Jennifer Chandler

Life is about to get a little sweeter in East Memphis.

Sweet LaLa’s Bakery is opening a retail bakery and café in Regalia Center. The bakery and café will be in the former Lori James spot at 6150 Poplar Ave., Suite 118.

Lauren Young, Sweet LaLa’s founder and owner, decided it was time to add a retail component to her 17-year-old business.

“I started Sweet LaLa’s out of my home kitchen back in 2001,” Young said. In 2014, she formed a partnership with JIFF, a juvenile intervention facility in Downtown Memphis, to expand the business while helping the community. For the past four years Sweet LaLa’s has baked its cookies out of JIFF’s kitchen, employing JIFF students.

Production will move to the new space at the corner of Poplar Avenue and Ridgeway when the new bakery opens.

The retail space at Regalia Center is close to 3,000 square feet and includes an upstairs. The bakery, retail space and café will be on the ground floor.

The bakery will offer her signature cookies, plus other baked goods, soft serve ice cream and light breakfast items. Lisa and Luis Toro of Bending Neon are helping Young develop a coffee menu for the café.

“We will also be featuring local sweets and foods such as Backhouse Foods dessert toppings, Bluff City Toffee and Shotwell Candy Co. caramels,” Young said. These items will be available individually or in specially designed gift boxes.

“Our goal and motto is ‘to make life a little sweeter,’” Young said.

The upstairs space will be used for special events and community gatherings that Young hopes will give customers an “in the kitchen” experience.

“We believe being in the kitchen inspires great relationships and great conversations,” she said.

Peter Warren with Warren Architecture is the architect for the space and Natalie Lieberman of Collect + Curate Studio is the interior designer.

Sweet LaLa’s should open in the beginning of 2019. In the interim, its cookies will still be available in retail shops and restaurants across Memphis as well as by special order at sweetlalas.com.8

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