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Exclusive: East Memphis shopping center to receive major facelift

Jacob Steimer
Memphis Business Journal

A prominent East Memphis shopping center is about to receive a significant facelift.

A local ownership group, led by Price Ford and Joe Jarratt of Ford Jarratt Realty & Development Co., is teaming up with Poag Shopping Centers for a major renovation of Laurelwood Collection, the shopping center at the southeast corner of Poplar Avenue and Perkins Extended.

The renovation joins a growing wave of investment on Poplar near Perkins, with Seritage Growth Properties spending more than $15 million on its new Poplar Commons center across the street and the nearby Laurelwood Shopping Center recently investing $1 million into its own renovation.

“This area of town is a primary retail destination, and it is in the process of receiving considerable repositioning and reinvestment up and down Poplar,” said Ford.

Jarratt said he expects construction to begin by the middle of June and be finished by mid-September. He declined to disclose the cost of the renovation Tuesday, saying the ownership group will release more information on the project in the coming months.

As part of the renovation, white limestone will be placed on the three main entry features, and the 60,000-square-foot center will also receive new brickwork, roofing and other features, Jarratt said.

The project is the first one that Ford Jarratt Realty has partnered with Poag on. Jarratt said he was drawn to the partnership by Poag's ability to recruit high-quality tenants.

“We look forward to attracting new tenants who share our vision and want to be real partners in building a destination,” said Josh Poag, CEO of Poag Shopping Centers.

Currently, Jarratt said the center is 95 percent occupied, but the renovation will help the center land quality, unique tenants in the future.

Current tenants include Mattress Firm, The Mighty Olive and popular breakfast joint Staks, among others.

Graham Reece Design Group and Tim Michael and Scott Guidry from the DesignShop lead the design of the renovation. Grinder, Taber & Grinder Inc. is the general contractor on the project. The ownership group for the center is made up of seven local investors.