The Belz Report - Fall 2004

Peabody Place Continues To Attract Tenants And Customers To Downtown Memphis

With the opening of the FedExForum, Peabody Place in downtown Memphis continues to grow as the centerpiece for the city’s renaissance. Businesses, restaurants and entertainment venues that want to be in the middle of the action are attracted to the multi-use site.

"Peabody Place has sparked a flurry of development in downtown Memphis that continues to grow, most recently with the completion of the FedExForum," said Andrew J. Groveman, senior vice president of Belz. "The addition of several new, exciting tenants, as well as the success of current ones, continues to prove that Peabody Place is the premiere place to live, work and play in Memphis."

Bass, Berry & Sims PLC is expanding its office in The Tower at Peabody Place due to a 35 percent growth in the last year. The firm, currently located on the 9th floor of the building, will expand to half of the 10th floor, an expansion of approximately 8,900 square feet.

"We decided to stay and expand our space in The Tower because Belz has been a great landlord and we want the relationship to continue. Also, we are excited about what’s happening downtown and we look forward to continuing to be a part of it," said John Good, managing partner for Bass, Berry & Sims' Memphis office.

Locally Global Investments, a real estate investment firm, also has moved into the Tower, where they occupy approximately 1,000 square feet on the 13th floor.

A public relations agency, McNeely, Pigott & Fox, has joined marketing firms Thompson & Company and The Ad Lab at 50 Peabody Place in 1,250 square feet of space. "Our relocation to the downtown area has put us closer to a diverse mix of amenities and businesses, allowing us to better meet our clients’ needs," said Shelley Durfee, a senior account executive with the firm.

Red Deluxe Brand Development, an advertising and brand strategy agency, is moving into 5,100 square feet of space in Belz’s Pembroke Square in Peabody Place. Founders Martin Wilford and Stinson Liles knew that they wanted to remain downtown and that they wanted an office that reflected the energy only a street-level space can create.

In addition to businesses, Peabody Place also welcomes several new restaurants downtown. Holiday Deli & Ham Co., Bluefin Edge Cuisine, Hooters and South Philly bring even more variety to the already diverse culinary offerings.

Holiday Deli & Ham Co., known for its Southern specialties and extensive catering menu, chose to open its fourth location in Peabody Place because of its previous positive experience with Belz. The new location at 119 S. Main in the Pembroke Square building, which opened in August, gives residents, workers and visitors a laid-back atmosphere and plenty of good food. The restaurant also provides a delivery service and a full line of catering options.

Bluefin Edge Cuisine will bring cutting-edge world cuisine along with the city’s first sushi lounge to downtown when it opens in November. The ultra-hip décor, trendy music, and sophisticated menu prepared by famed Memphis restaurateur Jimmy Ishii make Bluefin a place to meet, relax and indulge the senses. Not just a nightspot, Bluefin, which will be located at 125 S. Main Street, will offer a moderately priced lunch menu for the business crowd. Private dining rooms also are available.

Another addition is Hooters, which will be located in 6,500 square feet of space at 250 Peabody Place, on the corner of Peabody Place & Third Street. The well-known, casual, beach-themed restaurant caters to sports fans with a menu that includes seafood, sandwiches and Hooters’ signature spicy chicken wings. The perfect spot to grab a bite to eat before or after a game at the FedExForum, Hooters is a venue that Memphians are sure to add to their list of favorite downtown destinations.

Also making a home in Peabody Place is South Philly, which will bring a little East-coast flavor and atmosphere to the Mid-South. The family-owned business will open in January 2005 in 3,000 square feet of space also at 250 Peabody Place.

The restaurant will serve authentic Philly cheese steaks on rolls shipped directly from Philadelphia, as well as traditional Italian ice, soft pretzels, homemade meatball subs, pizza and calzones. The unique twostory space will include windows to the kitchen so customers can watch their food being prepared, while famous Philadelphia landmarks will be projected on the walls.

Peabody Place Entertainment and Retail Center, which features more than 300,000 square feet of retail, dining and entertainment, is also seeing growth. Footlocker will soon join the unique mix of merchants.

Meanwhile, Peabody Place Museum, home to one of the largest collections of 19th Century Chinese art, has added an interpretive jade exhibit to its permanent collection of Chinese art and Judaica. Consisting of five permanent "information stations," the exhibit helps visitors gain a greater understanding and appreciation of jade’s material and symbolic significance in Chinese culture enhancing their experience at the museum.

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