MAA Prepares for new headquarters in Germantown by Meagan Nichols

As work continues on one of Germantown’s largest developments, a seven-figure permit was just filed for a future office tenant.

A building permit valued at $7 million was submitted Sept. 7 for the soon-to-be headquarters of MAA — a real estate investment trust (REIT) that specializes in multifamily developments in the Southeast and Southwest U.S.

In 2016, MAA announced plans to relocate from its current offices at 6584 Poplar Ave. in Memphis to Gill Properties Inc.’s $90 million TraVure project, now under construction on Poplar Avenue near Kirby Parkway — just inside the Germantown city limits.

MAA occupies 43,000 square feet at its current offices, and the relocation will give the company 89,000 square feet.

“We are excited about this move and the ability to bring all of our Memphis-based employees into one location,” said Tim Argo, senior vice president of finance for MAA. “In addition to the office space, we also look forward to providing secured, covered parking for both employees and visitors.”

Argo said they expect to have the build-out finished in February, with MAA’s 200 to 225 employees occupying TraVure by March.

Grinder, Taber & Grinder Inc. was listed as the contractor on the permit; MAA plans to use The Crump Firm for the design and architecture.

“The design concept is to be an open environment with a focus on collaboration areas,” Argo said. “We aim to have natural light in all spaces and a minimalist feel to the space.”

MAA, which has ownership interest in more than 100,000 apartment homes, was approved for a 15-year payment-in-lieu-of-taxes(PILOT) from City of Germantown in October 2016. In addition to office space, TraVure will house a Hilton Garden Inn and Home2 Suites and retail space.

This article was originally published at Memphis Business Journal on September 8, 2017

Germantown's New $120 Million Project by Jacob Steimer

TraVure is the largest project Ray Gill has ever attempted to develop by a long shot, and it’s significantly more expensive than his company — Gill Properties, Inc. — previously publicized, he told MBJ recently.

Including a pair of Hilton-branded hotels being developed in conjunction with the project but by a different developer, Gill said he now expects TraVure to cost about $120 million. Previously, Gill had said it would cost about $90 million.

“I didn’t want to overstate it at first,” Gill said. “It’s huge. I have to pinch myself. … The monthly draw [from the bank account] is as large as some of the projects I’ve done in the past.”

The pace at which the project’s main building has been built also amazes Gill, he said.

The 150,000-square-foot, five-story Class A office building, set to be anchored by MAA, is about four months from completion. After a year of “a lot of rain,” Gill is proud the building is only about one month behind schedule — and is now set to open in February.

Gill said he is also quite happy with how the project’s $9 million, 500-space parking garage has come along. He likes its high ceilings, and he’s looking forward to covering some of it in artwork and greenery. He also likes that it’s only 21 feet away from the office building.

“At first I thought, ‘Why are we putting a garage on Poplar?’” Gill said. “But it’s so convenient.”

In the space between the garage and the building, Gill said his company is developing an “outdoor living room,” complete with tables, green space and plugs for phones or laptops.

Overall, Gill said the project — which will include a restaurant, retail space and more office space to go along with the main office building and hotels — has been stressful at times but that he’s enjoyed it so far.

“I hope to do another project like this,” he said.

Nashville-based FirstBank is providing the financing for the project. Bill Thoda of Thoda & Associates designed the five-story office building and garage, and The Crump Firm designed the MAA interiors. Fisher & Arnold is the project’s engineer, and Grinder, Taber, & Grinder, Inc. is the general contractor.

This article was originally published at Memphis Business Journal on October 9, 2017