CBRE to Relocate Memphis Office

The firm’s new space, containing more than 10,000 square feet, is nearly 50 percent smaller than its current location, nearly five miles to the southwest.
Triad Centre III in Memphis, Tenn.

CBRE has made plans to relocate its Memphis, Tenn., office, following the signing of a lease for 10,842 square feet at Highwoods Properties’ Triad Centre III. The firm anticipates moving 48 employees into the space in August 2018. CBRE currently operates out of 20,000 square feet in Talcott Realty Investors’ Thousand Oaks Business Center, five miles southwest of its new location.

Located at 6070 Poplar Ave. in the Poplar Corridor submarket, the 148,810-square-foot mid-rise is part of the larger Triad Centre office campus in Memphis, which includes an additional two adjacent buildings north of U.S. Highway 72, approximately 11 miles east of the city’s central business district. The property is across the street from Boyle Investment Co.’s Regalia Shopping Center and near an Embassy Suites and a Hampton Inn & Suites.

Modern, high-tech workspace

The seven-story, LEED Gold-certified asset—which was developed by Highwoods in 2009—has a vacancy rate of 3 percent, as of Yardi Matrix data from April 2018. A number of tenants operate in the structure, including KPMG, UBS Financial Services, Mass Mutual Financial Group and SouthernSun Asset Management. A restaurant, Tamp & Tap, occupies part of the first floor.

CBRE’s new space has the potential to accommodate up to 70 employees, and the company’s Workplace360 initiative enables and encourages a more fluid, flexible office layout with ample collaborative areas and no assigned workstations.

“Since moving into our existing space 10 years ago, advances in technology have resulted in a different, more mobile way of working. Our new office will feature amenities that enable employees to truly embrace technology and collaborate more effectively,” said Frank Quinn, managing director of CBRE’s Memphis office, in a prepared statement.

Kevin Adams of CBRE represented the tenant in the transaction.

Image courtesy of Yardi Matrix