The Boyle Investment Company announced that they have acquired the 100,000-square-foot Meridian Building. The building which is located at Meridian Cool Springs is set to feature both office and retail spaces.

Williamson County property records report the sale as $19.5 million.

“The purchase of 3000 Meridian allows us to strengthen our presence in Cool Springs, an area that continues to see tremendous growth and evolution,” said Director of Office Properties and Partner Thomas McDaniel.

Boyle Investment Company first opened their doors to its Nashville office in 2001. Since then, the Memphis-based company has rapidly expanded and now owns and manages almost four million square feet of office and retail space, as well as a projected 5 million square feet in the development and planning stages. The investment group currently owns or manages projects in communities such as Berry Farms, McEwen Northside, Meridian Cool Springs, CityPark Brentwood, and Capital View.

“As demand continues, we are proud to play a role in shaping the future of Williamson County’s dynamic business landscape,” McDaniel said.

Formerly known as the PICA Building, the building was developed by Boyle in 2009 as a build-to-suit, to be both owned and occupied by the Podiatry Insurance Company of America (PICA).

Additionally, the 60-acre mixed-use district plans to feature 70,000 square feet of specialty retail, fitness and dining options along with three onsite hotels.

The 3000 Meridian acquisition comes as Boyle invests more than $20 million into enhancements across Meridian Cool Springs, reinforcing its long-term vision for the district. Boyle recently unveiled two public green spaces within the district and welcomed a curated mix of businesses, including Little Hats Italian Market, Handel’s Homemade Ice Cream, Alloy Personal Training and First National Bank of Middle Tennessee.

This article originally ran in the Tennessean.

A prominent local real estate shop added to its Cool Springs portfolio with the purchase of an office building the firm developed.

Boyle Investment Co. paid $19.5 million for the 3000 Meridian Building in the Meridian Cool Springs development, according to Williamson County records. The purchase of the building consolidates Boyle’s ownership of the larger development which is undergoing millions in renovations as office activity wavers.

Boyle now owns the 100,000-square-foot building, formerly known as the PICA building, which it developed in 2009. Boyle developed the space for Podiatry Insurance Company of America (PICA) to be both owned and occupied by the insurance company, according to a release.

In 2009, ProAssurance bought PICA and the company has gradually relocated its operations to Birmingham, Alabama, leading PICA to sell the building to Boyle, according to the release.

Boyle is the developer of the larger Meridian Cool Springs development which contains 60 acres and features 70,000 square feet of retail and restaurant space, as well as three hotels.

“The purchase of 3000 Meridian allows us to strengthen our presence in Cool Springs, an area that continues to see tremendous growth and evolution,” Thomas McDaniel, director of office properties and partner at Boyle, said in the release. “As demand continues, we are proud to play a role in shaping the future of Williamson County’s dynamic business landscape.”

The purchase comes as Boyle is investing more than $20 million into enhancements across the development, recently finishing two public green spaces and welcoming new tenants like Little Hats Italian Market, Handel’s Homemade Ice Cream and more.

The “flight to quality” trend has become increasingly prevalent with office tenants having a strong preference for buildings with loads of amenities. Office properties that are older, even by just a decade, will have to be renovated in order to keep up.

“You have to figure out how to adapt the buildings that are 1980s buildings. It took a lot of pain … but we were able to adapt those. It does take a lot of investment from the standpoint of the owner. If you have what the user wants, it’ll get leased, people will pay for it and the rest keep going up,” McDaniel previously said on a Business Journal panel. “But if you miss it by just a little bit, you’re dead. There’s 10 of you out there, so then it’s just a race to the bottom on which of the 10 want to charge the lowest rent.”

Last year, Boyle bought another Cool Springs office building, The McEwen Building near Boyle’s other Cool Springs development, for $48.57 million.

This article originally ran in the Nashville Business Journal.

Collierville Magazine

By Catherine Eakin & David Tankersly

Family is the name of the game for three local developers and real estate professionals:  Allen Green of John Green Realtors, Karen and Reggie Garner, Jr. of Magnolia Homes, and Gary Thompson of Boyle Investment Company.  They all work for companies that see employees and clients as part of their extended family, and they understand that families are the fabric of strong communities. It’s what Collierville is all about.  From a best-in-class school system, notable public safety services, and a deep well of amenities like parks, a modern hospital, plentiful restaurants and shopping, families have always been an inherent part of the Collierville story.

On the commercial side of development, the increased mixed-use construction in the Schilling Farms area is both impressive and encouraging.  For an expert perspective on this development, look no further than Gary Thompson of Boyle Investment Company.  After obtaining his degree in landscape architecture and a brief period of consulting roles, Thompson started full-time with Boyle in 1995.  It’s been a successful relationship ever since.

Boyle is proud of the reputation they’ve built as one of the premier commercial and residential development firms in the area.  They consistently look to construct long-lasting buildings for their clients and in the process establish sound business relationships.  Their motto, “Building Communities Since 1933” is fitting.

Thompson embraces the idea of building communities.  He and Boyle have been involved in the development of Schilling Farms since the early 1990s.  Thompson adds, “It was a period that saw Collierville become one of the fastest-growing communities in Tennessee.  The steady growth of the area has been great for Boyle and the diverse group of companies that are now located at Schilling Farms.  Mueller Industries has found a home there, as has IMC Logistics, who moved their world headquarters there in 2022.  SOB (South of Beale Restaurant), Rotolos, and Crumbl Cookies are all part of their new development at Poplar and Schilling Farms.  Boyle continues to pursue new home, dining and shopping sites within Schilling Farms.

“Mixed-use developments permit us to do some really cool stuff that is supported by this walkable community,” Thompson says.  “you can pick up your kid from daycare and run them across the street to the orthodontist, then return them to daycare or take them home.  It’s sort of a one-stop shop.  It functions really, really well.” It’s an ideal layout for families, having most amenities located within a quick drive or comfortable walk, and it’s a concept that will find an expanded use in Collierville.

Memphis Business Journal, October 4-10, 2024

Every year, MBJ honors the top female leaders in the Memphis area with Super Women in Business, presented by Independent Bank.  This marks the 13th Super Women in Business.  And it is indisputably one of the top events MBJ produces, year in and year out.  Ask anyone who has ever attended.  It cannot be missed.  Each year has its own flavor, driven by the personalities of the individual women being honored.  But over time, one also sees the universality of what makes each of them so successful and worthy of being honored:  their intellect, vision, resolve, bravery, creativity, empathy, passion, compassion, energy, and persistence — and, no less, a je ne sais quoi that beguiles attempts to delimit who they are.  And you can see for yourself all the ways those in the 2024 class of Super Women in Business break past convention in the following section.

Kathy Pampuro, Executive Vice President, Boyle Investment Company

Job role/responsibilities:  My primary role is leasing agent:  showing Boyle-owned properties office vacancies to prospective tenants and working with existing tenants on lease renewals.  There’s an array of tasks that go into securing a new tenant and a lease renewal, including working with our in-house space planning team to prepare plans for our prospect’s/tenant’s specific office space needs, working with our space planning team to competitively bid the leasehold improvement work to general contractors, underwriting the analytics of the transaction for proposal and lease preparation, negotiating the lease, and working with our property management team for tenant move in.

Superpowers that would best equip someone entering your profession:  The ability to make tenant reps show up on time for their scheduled appointments or at a minimum only 15 minutes late for a scheduled appointment.

Biggest mentor:  Mark Halperin, COO/EVP who has been with Boyle for more than 50 years.  Mark can sometimes come across like a lion, but he’s a real teddy bear.  He is so knowledgeable, practical in his thinking, honest, fair, objective and humble.  He always has his employees’ backs and gives us all the opportunity to excel in whatever it is that we want to do.

Sets Sights on Increased Connectivity in Popular Submarket
Through Addition of $48.75 Million, 175,000-Sq.-Ft. Mixed-Use Building

FRANKLIN, Tenn. (2/22/2024) – Boyle Investment Co. (Boyle) is furthering its reputation as a community builder by expanding its footprint in the heart of Cool Springs through the acquisition of The McEwen Building for $48.75 million from KBS, one of the largest owners and operators of premier commercial real estate buildings in the nation.KBS Real Estate Investment Trust III, Inc. acquired the building in 2012.

 The 175,000-square-foot Class A office building with ground-floor retail offerings is located at 1550 West McEwen Drive in the popular McEwen Southside development. It sits directly across West McEwen Drive from the Boyle-managed McEwen Northside, a 45-acre mixed-use development that has positioned itself as one of the area’s top destinations.

 Situated on 11 acres, the seven-story McEwen Building is strategically positioned west of I-65 and provides tenants with direct access to more than 30 restaurants, 70 retailers, eight hotels, and seven fitness studios – many within a three-minute walk.

 “When our team first focused on this portion of Cool Springs with McEwen Northside, we felt there was an opportunity to create a unique district in Cool Springs to become the center of activity,” said Jeff Haynes, Partner for Boyle Nashville. “Our goal from the onset has been to create that, to stitch together these great pieces in a highly walkable area and create an ecosphere that benefits tenants and the local community alike. The purchase of The McEwen Building helps us further that vision.”

 Built in 2009, The McEwen Building anchored the first phase of the McEwen Southside development, becoming one of the first office buildings in Cool Springs to offer ground-floor retail options. It currently boasts a 95% occupancy rate with 15 businesses and retail and restaurant tenants. Kaiser Aluminum’s world headquarters occupies the building’s top floor, and tenants including Brixx Wood Fired Pizza + Craft Bar, Title Boxing Club and Massage Luxe occupy the ground floor.

 The LEED registered and Energy Star Gold-rated building recently underwent more than $2.1 million in capital improvements during its previous ownership with KBS and provides tenants with numerous onsite amenities, including fitness options, a patio and courtyard and a coffee bar and café. It neighbors a picturesque green space the Boyle team hopes to activate through events, further cementing the location as a gathering place for the community.

 “Every acquisition we make is community-minded,” said Haynes. “With The McEwen Building, we’re going to do the little things year after year, those finer points that make a difference in an already great place. We can’t wait for tenants and community members to see what’s in store.”

 The McEwen Southside development has emerged as a popular destination in the market since its completion in 2014 with upscale residential units, an onsite Whole Foods and retail and dining options including PureBarre, Lululemon, and BrickTops – all centered around the McEwen Building.

 Nashville continues to be a popular commercial real estate market for investors, notes Allen Aldridge, senior vice president, co-director of asset management for KBS and the asset manager of The McEwen Building.

“With its foothold in the area’s top live-work-play destination and surrounding amenities, The McEwen Building is located in one of the highest rent-growth environments across the Southeast U.S.,” says Aldridge. “Given the 112,000 square feet of new and renewal leases we have signed for the building since the pandemic, The McEwen Building is solidly positioned in the Nashville market.”

According to Marc DeLuca, KBS CEO and eastern regional president, “KBS identified an opportunity to capitalize on a high-performing property to achieve additional liquidity in the current debt environment,” says DeLuca. “Our ability to bring the building to nearly 100% occupancy, particularly in today’s challenging office leasing and investment climate, and to have an asset trade at a 5% discount from its 2022 valuation, is a testament to our solid asset management expertise, the strength of core office assets as well as the strength of the Nashville market.”

Samir Idris, David Meline and Crews Johnston of Cushman & Wakefield represented KBS in the sales transaction. “The McEwen Building provides the buyer a best-in-class asset with no near-term capital requirements, walkable to McEwen Northside, one of Nashville’s top retail and entertainment attractions,” says Idris.

 According to Bruce Fischer, Co-Chair of West Coast Real Estate and Co-Managing Shareholder of the Orange County Office for Greenberg Traurig, which represented KBS as legal counsel in the disposition with the assistance of Shareholder Howard Chu and Paralegal Amanda Kennedy: “We were pleased to work with KBS in the disposition of The McEwen Building as the Nashville market continues to attract office users.” 

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About The Development

MCEWEN SOUTH SIDE OFFICE SPACE

McEwen Southside is a LEED-registered Class A office space located in the heart of Cool Springs in Franklin, Tenn. Strategically positioned in the area’s top live-work-play destination, McEwen Southside is highly walkable and offers easy interstate access. Its 175,000 square feet boasts full-height glass ceilings with incredible views, a coffee lounge and café, outdoor patio with water feature, and on-site fitness options, all steps away from popular shopping and eating experiences, luxury living, and interactive green spaces.

Press

• Bizjournals
• Bizjournals
• Commercial Search
• NashvillePost
• creNews
• Franklinis
• WilliamsonSource

The Daily Memphian

By Sophia Surrett

Five years after receiving a tax increment financing incentive, the project to upgrade the Poplar Avenue corridor is being launched.

The first phase of the project is a facelift along Ridgeway Road and Shady Grove Road between Park Place Centre and Briarcrest.

The project is being directed by the not-for-profit Poplar Corridor Business District Association of Owners using tax increment financing the group was awarded in 2018 from the Economic Development Growth Engine for Memphis & Shelby County.

“The association is really excited about kicking off the first project and the TIF and the impact it is going to have on the neighborhood,” said Les Binkley, president of the association and a senior vice president at Boyle Investment Co.

The TIF, which takes future property taxes to finance and build infrastructure, will finance the project to enhance and continue to develop the Poplar Corridor Business District.

The five-year gap between the TIF’s approval and the project’s start was due to the association wanting the TIF to accrue money before starting construction.

“We are doing more of a pay-as-you-go model instead of an upfront financing event that then uses all the future TIF revenues,” Binkley said. “Waiting a period allowed us to see what was actually being produced so we could better plan.”

The TIF district encompasses the Poplar corridor from I-240 to Kirby Parkway. The association has several projects they want to see developed in the area over the course of the TIF:

• A mixed-use development consisting of office, retail and hotel on Briarcrest Avenue;
• An office development on International Place;
• An office development at 860 Ridge Lake Blvd;
• A senior living apartment development at 6300 Briarcrest Ave.;
• And a mixed-use development consisting of office, retail and hotel space at 5900 Poplar Ave.

EDGE vice president of operations Joann Massey said the TIF is one example of how EDGE supports “a solutions-oriented strategy” for economic development.

“EDGE’s use of this type of financing tool not only will result in infrastructure improvements within the 400-parcel TIF area but an increase in tax revenue that will ultimately flow back into our community’s general fund to help create a stronger Memphis,” Massey said.

Binkley said the association decided to do a streetscape for the first project because “the Shady Grove enhancement was an impetus for creating the whole TIF.”

“We had some concreted over medians, so we’re tearing those up and adding landscaping and aeration and doing some pedestrian crosswalks to really enhance that corridor around a lot of nice office buildings in our district,” Binkley said.

Once the streetscape enhancement project is completed in about 10 months, Binkley said the second phase will begin, depending on the cash available, interest rates and the city and county’s reappraisal of properties.

The association was formed in 2018 as an association of property owners of about 400 parcels in the Poplar Corridor Business District.

The Daily Memphian

By Rob Moore

In 1973, Mark Halperin was hired by Boyle Investment Co. right out of college.

During that decade, Halperin was part of the team that started Ridgeway Center, the 204-acre mixed-use development that today serves as East Memphis’ premier business park and is home to more than 150 companies.

In the 1980s, Halperin oversaw the development of the Shops of Humphreys Center on Wolf River Boulevard, and in the 1990s he turned his attention to the Schilling Farms Community in Collierville. In all, Halperin has played a large part in developing and leasing approximately 12 million square feet of commercial and office space.

“I don’t think our company would be as successful if we hadn’t had Mark with us over this long period of time,” said Henry Morgan, co-chair emeritus with Boyle. “I have been blessed to develop a close friendship with Mark over the years. He delivers consistently in his ability to do the right thing for programs in our company.”

Today, Halperin is Boyle’s executive vice president and chief operating officer, moving up the ranks over the years and all the while staying with Boyle.

In September, Halperin received a Lifetime Achievement Award from the Memphis chapter of Lambda Alpha International, a professional organization consisting of people in the various disciplines related to the use and re-use of land. Previous winners of the group’s lifetime achievement award include Henry Turley, Mike Rose and Halperin’s colleague and friend Russell Bloodworth.

“I couldn’t believe I was on the same list of winners with names like Jack Belz,” Halperin said of the real estate developer credited with revitalizing Downtown. “Kemmons Wilson, Bayard Boyle Sr., those were just two other names on the list.”

Wilson and Boyle, the founders of Holiday Inn and Boyle Investment Company, respectively, are themselves juggernauts in Memphis business history, and Halperin was overwhelmed to find himself among their ranks.

“I was speechless,” he said, “and that doesn’t happen often.”

“In hindsight, it’s been wonderful,” Halperin said, “spending my career at Boyle. They want us to think like owners, and they empower us to make a lot of decisions on our own. I could have gone somewhere else at times, but I was always happy I stayed here, working on these relationships I’ve had since I first got started.”

In addition to his long-standing career with Boyle, Halperin has remained one of the longest-serving trustees for Memphis University School, the school he attended after moving to Memphis from Chicago.

Halperin is also the past president of the Memphis Jewish Home & Rehab as well as the past president of Temple Israel Memphis.

Currently, Halperin sits on the Economic Development Growth Engine (EDGE) for Memphis and Shelby County.

Memphis Business Journal and Nashville Business Journal

By Stephen MacLeod

Memphis-based Boyle Investment Co. is the largest owner and operator of office space in the city as the company turns 90 years old.

The company has grown to be a large land and property holder in both Memphis and Nashville. Boyle is one of the largest developers in Nashville, with millions of square feet in office and retail.

The company isn’t done growing in either market, with plans underway for additional significant developments.

MEMPHIS, Tenn., October 18, 2023 – Boyle Investment Company (Boyle) is pleased to announce that Executive Vice President and COO Mark Halperin is the 2023 recipient of the Lifetime Achievement Award from the Memphis chapter of Lambda Alpha International.  Boyle has two previous Lambda Alpha Lifetime Achievement Award recipients:  J. Bayard Boyle, Sr. (1994), who founded the company in 1933 along with his two brothers, and Russell E.  Bloodworth, Jr. (2010), Executive Vice President, who has been with Boyle for 55 years.

Halperin joined Boyle in 1973 after graduating from the University of Tennessee and is celebrating his 50^th anniversary with the company this year. As Boyle celebrates its 90^th anniversary in 2023, Halperin leads the company’s commercial sales and leasing team, which has grown considerably and has never been stronger. Today, the team is comprised of 27 highly talented professionals with years of experience in development, leasing, property management, maintenance and space planning.

“I am humbled and honored to receive this award from Lambda Alpha,” says Halperin, who attributes his accomplishments in commercial real estate to the efforts of the Boyle commercial sales and leasing team, which operates 4 million square feet of office and retail space in the greater Memphis area. “We have always had a great team,” says Halperin, “but the group we have assembled after acquiring four additional ‘Class A’ office buildings in 2020 and hiring nine of the previous building owner’s employees is the most experienced we have ever had. We already had a tremendous group, and the new employees complement the skills of those already on our existing team.”

Halperin was hired by Boyle’s Co-Chairman Henry Morgan, Sr. in 1973.  “Mark has played a large part in the development and leasing of approximately 12 million square feet of commercial and office space,” says Morgan. “I don’t think our company would be as successful if we hadn’t had Mark with us over this long period of time.  Mark and I have had a lot of fun in the process of doing deals together, and I congratulate him in winning this Lambda Alpha Lifetime Achievement Award, which is greatly deserved.”

Founded in 1933, Boyle Investment Company is one of the oldest real estate development, management, sales and leasing firms in Memphis and is celebrating its 90^th anniversary this year. Even before the company was founded by Bayard Boyle, Sr., his father, Edward Boyle, developed the iconic Belvedere Boulevard in Midtown Memphis in 1907. The Boyle and Morgan families trace their origins back to John Overton, one of the founders of the City of Memphis. Boyle is known in Memphis for developing complex mixed-use projects such as Ridgeway Center, Humphreys Center, and Schilling Farms in Collierville, as well as for its high-end residential communities such as River Oaks and Spring Creek Ranch. In 2001, Boyle opened a Nashville office, which has grown from two principals to 32 employees and is actively developing major large-scale, mixed-use projects including Capitol View, Berry Farms, Meridian Cool Springs, McEwen Northside and CityPark.  Boyle’s real estate portfolio consists of more than eight million square feet of commercial space, multiple high-end residential communities, multi-family communities and extensive land holdings. For more information, visit https://boyle.com/

Established in 1930, Lambda Alpha International (LAI) is a land economics society whose membership includes architects, engineers, real estate developers, planners, government officials, professors, bankers, attorneys, and real estate consultants.  The LAI Memphis Chapter also installed eight new members and recognized three new University of Memphis student members at their annual banquet on September 13.  The chapter now has more than 150 members from all disciplines related to land economics and commercial real estate in our market area.   For more information, visit https://www.lai.org/

Dr. Mary Schofield is returning to practice in Williamson County. She is now accepting new patients at Tennessee Pediatrics’ new location now open in the Berry Farms Community in Franklin, Tennessee.

Dr. Schofield has enjoyed practicing pediatrics for over 30 years. She and her family have been part of the local community since moving to Franklin in 2007. Dr. Schofield is originally from Baton Rouge, Louisiana and is a graduate of Louisiana State Medical School in New Orleans. She completed her pediatric residency at the University of Kentucky Medical Center in Lexington, Kentucky. She is married and has three adult children and two grandchildren. Her hobbies include music, cooking, and hiking.

Dr. Schofield is excited to join the Tennessee Pediatrics team and the new Berry Farms location, which expands Tennessee Pediatrics’ service to South Williamson County.

“Pediatrics is not only my profession, but also my passion,” Dr. Schofield said. “I have always loved the ‘art’ of healing, which often involves helping parents navigate the challenges of raising not only physically, but emotionally healthy children.”

In addition to Dr. Schofield, the Williamson County team also includes Dr. Chris Dodd, Dr. Lauren McClain, Mary Gwen Sagen, CPNP-PC, and Milo Simpson, P.A.-C. The new Berry Farms location is centrally located for Tennessee Pediatrics’ current patients as well as many new patients and families. Tennessee Pediatrics has a longstanding history of serving Middle Tennessee and now has two offices to serve South Williamson County. Dr. Schofield is looking forward to caring for patients and families as a part of the Tennessee Pediatrics team.

Tennessee Pediatrics’ new Berry Farms office is located at 7020 Berry Farms Crossing, Suite 101 in Franklin, Tennessee. For more information, visit the website TennesseePediatrics.com or call 615-393-6731.

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About the Development

Berry Farms

Berry Farms, a mixed-use development, allows residents to work, shop and play within their own neighborhood.

600-acre, master planned, mixed use community with 1.8M SF retail, 3M SF office and 1,100 residential units

• Trade area is extremely underserved by retailers and restaurants
• One of the fastest growing residential submarkets in the region
• Unique, landmark community that is the Southern Gateway to Franklin
• Surrounding area is one of the highest concentrations of wealth in Williamson County
• Located at a major commuter intersection and I-65 exit
• Anchored by a new PUBLIX grocery store

Press

• Nashville Parent

Our tenant, GEODIS , hosted its official ribbon cutting and a champagne toast to commemorate its newly renovated HQ building at our CityPark development today.

Since first opening their doors at CityPark in 2006, we have seen them grow from only occupying half of the third floor to, now, occupying the whole building. We are honored that GEODIS trusted us to help grow and expand its business. This is a testimony to our partnership and to Boyle’s long-term commitment at CityPark!

Thank you to Mayor Rhea Little, Vice Mayor Nelson Andrews, and City Manager Kirk Bednar for joining us.

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ABOUT THE DEVELOPMENT

CityPark Brentwood

CityPark is a vibrant, pedestrian friendly mixed-use community located in the central business and retail district of Brentwood, Tennessee. The 33-acre CityPark is comprised of 500,000 square feet of Class A office space spread among 8 buildings, and 40,000 square feet of retail and restaurant amenities. The property is strategically situated on Franklin Road, for optimal access and visibility.

Les Binkley

Boyle Investment Company

Years in role: 11

Les Binkley joined Boyle Investment Co. in 2007, became Vice President in 2011, and has been Senior Vice President since 2022. He handles all aspects of real estate development for the firm.

In particular, he oversees the day-to-day for Boyle’s mixed-use projects and has taken a leading role as it has increasingly been involved in multifamily developments. Of note for Binkley are major projects in Collierville, such as Schilling Farms — including The Carrington and Carrington West — and Price Farms; East Memphis’ Ridgeway Center; Germantown’s Viridian Planned Development; and Fisherville Farms, stretching across Shelby and Fayette Counties.