Shapiro & Kirsch, a foreclosure, bankruptcy, and real estate law firm, has signed a 18,450-square-foot lease for the entire second floor at First Capital Center, 555 S. Perkins in East Memphis, according to the firm’s national real estate advisor Studley.
The law firm will be the first full-floor office tenant to sign a lease following the building’s $2 million renovation and will occupy more than 32 percent of the building. Shapiro & Kirsch will be moving from 12,000 square feet at 6055 Primacy Parkway by the end of the year.
Over the past two years, Studley has represented the law firm in 20 transactions in 18 markets. Joe Steffner and Liza Creech of Grubb & Ellis represented the building owners, Glen Bascom Sr., Chris Montesi and Glenn Bascom Jr. operating as 555 Perkins LLC, in the transaction.
Aggressive economics, coupled with the building location, sealed the deal for Shapiro & Kirsch. The building will also enhance the firm’s workplace by being newly renovated with state-of-the-art systems, more centrally located for its employees and clients and accessible to the amenity-rich Poplar Corridor, according to Studley.
In addition to the landlord agreeing to build-out the space, the lease includes options to expand and terminate, providing the firm with the flexibility it needs.
First Capital Center is a 57,389-square-foot building located at 555 S. Perkins. Other building tenants include First Capital Bank, Grubb & Ellis Memphis Century LLC and Connolly Insurance Agency-Nationwide Insurance. The building is now 55 percent leased.
Studley is the only global tenant advisory firm with a pure tenant representation delivery platform. Founded in 1954, Studley pioneered this conflict-free business model. Today, with 19 offices nationwide and an international presence through its London office and AOS Studley throughout Europe, Studley provides strategic real estate consulting services to top-tier corporations, law firms, nonprofits, government agencies and institutions of higher education. Information about Studley is available at www.studley.com.