Poplar Plaza Boasts New Tenants; Greyhound Terminal on Sale for $2.3M
- Oct 07, 2011
Poplar Plaza is currently undergoing several changes that are expected to boost its occupancy up to 98 percent from the current 88 percent, according to the Daily News. The 360,000-square-foot outdoor strip mall sits on 28 acres in the geographical center of Memphis, along Poplar Avenue, the main thoroughfare of the city, and it has been a premier retail center for more than 60 years. It comprises 11 buildings with over 50 tenants, among which are Kroger, PETCO, Old Navy and Tommy Bronson Sporting Goods. The owner and manager of the landmark shopping center, Burlington, Mass.-based Finard Properties LLC, announced multiple tenant relocations, including Osaka Japanese Cuisine, which is to occupy 7,300 square feet, Gould’s Day Spa and Salon, which will comprise approximately 5,000 square feet, and Momentum Rehab will take up space in the back portion of the property that faces Prescott Street.
Another landmark building making headlines this week is Greyhound bus station on Union Avenue that has been put up for sale for $2.3 million. The property is located across from AutoZone Park, behind the Beale Street District, which makes it a key gateway into Downtown Memphis. It includes a 28,085-square-foot main building and a 12,000-square-foot storage building on 1.37 acres of land.
Meanwhile, Dallas-based Greyhound Lines Inc. plans to move away from the current location by the beginning of November and share a terminal with MATA at the Airways Transit Center, 3033 Airways Blvd., near Memphis International Airport, according to a WREG.com story.
In other news, the Memphis Business Journal reports that Falls Church, Va.-based Greenfield Independent Living has recently purchased two senior living communities in Memphis. These include a 152,706-square-foot, 168-unit nursing home sitting on 11.6 acres on the south side of Knight Arnold west of Kirby Parkway for $3.1 million from Waverly Gardens and a 35,441-square-foot, 52-unit nursing home located at 6551 Knight Arnold Road for $2.5 million from Kirby Oaks Integra LLC.