October 05, 2009

Boyle Signs ServiceMaster® to 10-Year

Boyle is pleased that longstanding tenant ServiceMaster Global Holdings (ServiceMaster®) has agreed to a ten-year extension of its existing leases for 290,000 square feet of office space at its Ridgeway Center office park at Poplar and I-240.

ServiceMaster has renewed its leases at four buildings in Boyle’s Ridgeway Center development: 850, 860, 889 and 855 Ridge Lake Boulevard. Boyle and several partners own the first three buildings and the fourth building is owned by Ezon Investment Company of Naples, Florida. Mark Halperin and Kathy Pampuro of Boyle represented the building owners.

ServiceMaster real estate executives Lane Johnson and Glenn Chambers managed the transaction for ServiceMaster. “We have enjoyed an outstanding relationship with Boyle Investment Company for many years. Our two companies have reached agreement on what should prove to be exceptional business terms for both parties,” said ServiceMaster’s VP of Real Estate, Lane Johnson. “Our new deal will continue to provide a first-class work environment for our employees.”

“We are excited that we were able to continue our relationship with Boyle and to allow our associates to continue to work in the same office campus on Ridge Lake. We have recently completed the move of our corporate headquarters from Chicago to Memphis and this lease extension will allow us adequate space to accommodate our current and anticipated growth,” ServiceMaster CEO Pat Spainhour said.

“Boyle is extremely pleased to continue our longstanding relationship with a company of the caliber of ServiceMaster, which has been a valued tenant with Boyle for 25 years at our Ridgeway Center development in the heart of the Poplar corridor in East Memphis,” said Mark Halperin, Executive Vice President of Boyle. “ServiceMaster is a key Memphis employer and so their decision to renew their lease with Boyle validates the strength and importance of our strategic location at Poplar Avenue and I-240.”

“Because ServiceMaster is one of the larger users of office space in the Memphis area, this lease renewal represents one of the largest office leasing deals in the Memphis community.” 
— Mark Halperin, Executive Vice President of Boyle

Ridgeway Center is a 204-acre, multiple-use development located at Poplar Avenue and I-240 in the center of East Memphis. The development offers more than two million square feet of space, including office buildings, a condominium complex, hotels, a movie theater, a church, restaurants, schools, and other amenities. ServiceMaster is among more than 150 companies that are located at Ridgeway Center, including Morgan Keegan, Marsh, Inc., SunTrust and Sedgwick CMS.

ServiceMaster currently serves residential and commercial customers through a network of over 5,500 company-owned locations and franchised licensees. The Company’s brands include TruGreen, TruGreen LandCare, Terminix, American Home Shield, InStar Services Group, ServiceMaster Clean, Merry Maids, Furniture Medic, and AmeriSpec. The core services of the Company include lawn care and landscape maintenance, termite and pest control, home warranties, disaster response and reconstruction, cleaning and disaster restoration, house cleaning, furniture repair, and home inspection.