Posted in General News
Both Gary Makowsky and Jimmy Ringel spent part of their high school and college summers around the pool. But they weren’t swimming. And they weren’t lifeguards. Instead they were getting their feet wet for careers in the family business by cleaning the pools at the apartment communities owned and managed at the time by their fathers, Jerome Makowsky and Nick Ringel.
Today, Jimmy serves as chief operating officer of Makowsky Ringel Greenberg, LLC and Gary is chief development officer, both representing the second generation of this multifamily family. Joined by Michael Greenberg, CEO and son-in-law to Jerome, this team of three oversees the management of more than 6,000 apartment units in the Memphis Metro, as well as over 1 million square feet of commercial real estate-primarily retail and smaller industrial/flex space. Learn more about the history of this family business in this recent feature article from units Magazine.
Posted in Recent Transactions
Michael Greenberg represented Highway 64 Partners LP, et al, in the sale of 5.319 acres on Highway 64 at I40 in Lakeland for $1.3 million. The property was sold to Lakeland 64, LLC, a company affiliated with the Barclay Group of Phoenix, Arizona. Barclay has plans to develop a 45,000 square foot build-to-suit for an L.A. Fitness Center on the property.
Gary Lubin recently represented the landlords of Crestview I and II, located on Crestview Drive in northeast Memphis, in the relocation and expansion of Electronic Security Systems Corporation from 3,000 square feet in Crestview II to 5,500 square feet in Crestview I.
Roger McLemore represented the landlords of Crestview II in two recent transactions. Ashlye McCormick Design has leased 3,000 square feet and Michael Chambers has also leased 3,000 square feet for a restoration business.
Posted in Awards
MRG had another winning year at the 10th annual Diamond Achievement Awards, sponsored by the Apartment Association of Greater Memphis and held January 10th at the Kemmons Wilson Holiday Inn at the University of Memphis. Our eight awards included both of the event’s Outstanding Management Team honors (Monticello and Highland Chateau). For the third year in a row, MRG took home the trophy for Top Shop for best performance on a leasing mystery shop, thanks to Cassandra Johnson at Highland Chateau. And hats off to Dawn Barber, who was recognized as Best Multi-Site Supervisor, the second time Dawn has received this honor.
Congratulations to all of the 2014 MRG winners:
Best Clubhouse/Leasing Center, 8-18 Years Old: The Westbury
Assistant Manager of the Year, 1-299 Units: Marnita Beach Copes, Champion Hills at Windyke
Property Manager of the Year, 1-299 Units: Khristy Kline, University Crossing
Top Shop Award: Cassandra Johnson, Highland Chateau Apartments
Outstanding Management Team, 1-299 Units: Monticello Apartments
Outstanding Management Team, 300+ Units: Highland Chateau Apartments
Above and Beyond Maintenance Award: Steve Craft, Corporate Rovers
Best Multi-Site Supervisor, 501+ Units: Dawn Barber
Posted in Recent Transactions
The Shops of Countrybridge, located on U.S. 64 near Interstate 40, was 75 percent leased at the start of the year, but a string of lease signings have brought occupancy up to 100 percent.
Lakeland Chiropractic expanded its 1,300-square-foot lease to 2,600 square feet. Emerald Thai restaurant moved from its location on Mount Moriah Road to a 1,300-square-foot space at The Shops at Countrybridge. In addition, Fayette Pools and The Testosterone Clinic each leased 1,300 square feet there. Roger McLemore of MRG represented the landlord in all of these transactions.
Posted in Press
As reported in this recent Daily News article, 2013 has been a banner year for Angelo’s Grove in Marion, Arkansas, the retail center developed by MRG in 2008. The center started 2013 at just 37% occupancy and will wrap up the year at 75%. New tenants include Andrey’s Pizza and Grill, Dr. Erin Mitchell with Crittenden Regional Hospital, a new dentist office, Chicken City and an Army and Marine Corps recruiting center.
Makowsky Ringel Greenberg CEO Michael Greenberg recently addressed a crowd at the annual Urban Land Institute’s 2014 Real Estate Outlook for the Mid South, sharing that the geographic location of the existing market supply of apartments isn’t likely to match future demand. While there is new development occurring in the market, it appears to be more about accommodating shifts in the market that will leave older apartments vacant in favor of newer properties. More in this Memphis Business Journal article.
Download Michael’s presentation here.
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