Crye-Leike Commercial marks third-best quarter thanks to Conwood purchase – Memphis Business Journal
Crye-Leike Commercial, a division of Crye-Leike, Inc., will notch at least its third-best quarter ever at its Memphis office this year, mostly a result of a large sale it worked for Conwood Co. LLC.
The Memphis office will have at least $23 million in sales for the fourth quarter when all its sales and purchase escrows close, a 155.5% increase compared to $9 million in fourth quarter 2008.
“The current economy for the last year has offered some of the most aggressive sales prices for purchase of office, industrial and retail properties in many years,” managing broker Dan Whipple says. “Companies and investors find this the best environment in which to buy or lease a new property.”
The fourth quarter was boosted when senior broker Mack Browder represented Conwood on its $19.3 million purchase of a 787,500-square-foot building on 35.6 acres at 5106 Tradeport Drive.