11/30/2007

Investec sells Memphis retail portfolio for $31.3M

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2140-2150 West Poplar Ave.

New York-based Nightingale Properties has acquired six retail properties in the Memphis, Tenn., area from Trip Trezevant Enterprises, LLC for $31.3 million.

Anthony Lopes and Jody McKibben of Investec Realty Services represented the seller in the transaction and will be retained to manage and lease the properties.

The portfolio includes: The Chickasaw Gardens at 3109-3183 Poplar Ave. in Memphis.

The Shops of Collierville at 875 West Poplar Ave. in Collierville.

The Country Club Collections at 2140-2150 West Poplar Ave. in Collierville.

Corky's at 743 West Poplar Ave. in Collierville.

A FedEx Kinko's and Princess Nails at 1130 Germantown Parkway in Cordova.

The acquisition was financed with a $25.6 million loan from Lehman Brothers Bank FSB.

Lopes is a principal broker and founder of Investec. He spent 17 years with Miami-based Koger Properties as a leasing manager and eventually general manager of the company's Memphis office. He is a graduate of Hofstra University.

McKibben is an affiliate broker with the company and is the former VP of the DeSoto Athletic Club. He is involved with the CBHS Alumni Association in Memphis and an active board member of The Healthy Memphis Common Table. He is a graduate of the University of Memphis.

Address: 3109-3183 Poplar Ave., Memphis, Tenn.

- 875 West Poplar Ave., Collierville, Tenn.

- 2140-2150 West Poplar Ave., Collierville, Tenn.

- 743 West Poplar Ave., Collierville, Tenn.

- 1130 Germantown Parkway, Cordova, Tenn.

Size: 161,549 square feet

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Filed Under: Retail

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