NEWS RELEASES
FOR IMMEDIATE RELEASE
Ground Breaking Digital-Only News Platform,
The Daily Memphian – finds their creative work space @
CRANE CO. Building of Memphis
254 Court Ave. Memphis TN
Cutler Property Group is pleased to play a part in the important launch of the
digital news provider, The Daily Memphian and its owner The Memphis Fourth
Estate, with their recent lease in our downtown property.
Memphis, TN – (Aug 16, 2018) – Cutler Property Group announced today it has leased a complete
floor of approximately 8,000 sf of space in its 52,000 sq ft multi concept commercial building located at
254 Court Ave. known as CRANE CO. Building in downtown Memphis, Tennessee. Occupancy began
August 1st.
“It’s an honor that The Daily Memphian publishers chose to locate their offices in the Crane Co
Building,” said Adam Cutler, President. “Timing couldn’t have been better for us as the space had just
been freed up by Hallmark Channel Movie production “Christmas At Graceland” starring Kellie Pickler.
Since December when we began leasing and delivering office space, demand has far exceeded our
expectations. Despite a tough downtown office leasing market, we have gone from nearly vacant to
almost full in less than a year. We currently have only a few individual offices remaining available along
with our 5th floor which will be soon be marketed to the legal community.”
“The Crane Co. building was a great fit for what we’re doing at The Daily Memphian,” said Eric Barnes,
President & Executive Editor. “The building combines collaborative open spaces with privacy needed for
reporters and editors to do their work. And combined with the massive renovation of the Hickman
Building next door, the flurry of downtown redevelopment is clearly finally reaching this edge of
downtown Memphis.”
About The Daily Memphian
Frustrated by the gutting of local journalism in Memphis, a group of seasoned journalists, media
professionals and concerned citizens gathered to discuss the need for strong, locally focused and locally
produced daily news. After much research and outreach to local and national media professionals and
thought leaders, Memphis Fourth Estate Inc. was formed. A 501(C)3 nonprofit, Memphis Fourth Estate
owns and operates The Daily Memphian; however, the newsroom operates independently of Memphis
Fourth Estate's influence and will not know donor names or pledges.
About CRANE CO Building of Memphis
The five-story building was built in 1904 for Crane Company as their regional headquarters and is one of
Memphis’ first fireproof buildings. Recently, it was completely renovated with Class “A” office finishes
throughout and is now a multi concept building with each floor having a unique profile with an artcentric
atmosphere Featuring stylish brick-wall offices, multi-zone HVAC, building-floor-elevator card
access control, security & video monitoring, full fire protection, and private fenced parking. The
property is located at Court Ave & 4th Street - one block from the Madison Ave trolley line.
About Cutler Property Group
The Cutler Property Group is a leading developer and investor in value-add, distressed and early market
property opportunities. During its 35-year history, they have purchased and developed more than 1.5M
square feet of commercial space in Canada and the USA.
For further information, please contact:
Adam A. Cutler, President 901-254-8777 [email protected] www.254court.com
FOR IMMEDIATE RELEASE
Producers of "Christmas at Graceland", a Hallmark Channel original movie, find their creative work space in CRANE CO. Building at 254 Court Ave. Memphis TN
Cutler Property Group once again is pleased to play a part in the growing film industry happening in Memphis with their recent agreement with the producers of "Christmas at Graceland" to take one complete floor in their downtown property.
Memphis, TN – (June 28, 2018) – Cutler Property Group announced today it has leased a complete floor of approximately 7,000 sf of office space in its 52,000 sq ft office building located at 254 Court Ave known as CRANE CO. Building in downtown Memphis, Tennessee. Occupancy began last week and will continue until mid August.
“Its an honor that the "Christmas at Graceland" producers chose to locate their offices in the Crane Co Building.” said Adam Cutler, President. “Since last December we have been delivering mostly individual executive offices and office suites on our lower floors at rapid pace. We only just finished preparing this floor the week before the producers came to see it. The film industry has special needs and from our experience over the years including CMT’s TV series “Sun Records”, we knew our space would be perfect for this production.”
“We are absolutely delighted to be here in Memphis and have been received with open arms. Every person we deal with is nicer than the last, making themselves available and going out of their way to make our experience here a memorable one.” said Ryan Westheimer, Line Producer. “From my first call with Linn Sitler of Memphis Film Commission, it was like I had known her for years. Her office and the city as will as Bob from the State Office have been beyond amazing. Linn and Sharon even helped us find our Production Office space which we love,”
About Christmas At Graceland Production
In "Christmas At Graceland," Laurel (Kellie Pickler), a Chicago-based business executive travels to Memphis with her daughter to secure one of the city's oldest family-owned banks. While in Memphis, Laurel reunites with an old flame Clay, a local music promoter with loftier aspirations. Discovering that Clay is producing a Christmas concert at Graceland, Laurel and her daughter spend a magical week experiencing the wonders of both Graceland and Memphis at Christmastime. Though Laurel tries to keep her eye on the prize of the business acquisition, the re-emergence of Clay and their past together throws an interesting kink into her already hectic life.
(Photo: (Photo by Matt Sayles/Invision/AP)
About CRANE CO Building of Memphis
The five - storey building was built in 1904 for Crane Company as their regional headquarters and is one of Memphis’ first fireproof buildings. Recently, it was completely renovated with Class “A” office finishes thru-out. Featuring stylish brick-wall offices, multi-zone HVAC, building-floor-elevator card access control, security & video monitoring, full fire protection, 100-KVA backup Uninterruptable Power Supply and private fenced parking. The property is located at 254 Court Ave, Memphis TN 38103.
About Cutler Property Group
The Cutler Property Group is a leading developer and investor in value-add, distressed and early market property opportunities. During its 35-year history, they have purchased and developed more than 1.5M square feet of commercial space in Canada and USA.
For further information, please contact:
Adam A. Cutler, President 901-254-8777 [email protected] www.254court.com
FOR IMMEDIATE RELEASE
THE CUTLER PROPERTY GROUP
The Cutler Property Group Announces Acquisition of a 52,000 sq ft office building and adjacent 45 car surface parking lot in downtown Memphis, Tennessee.
Montreal, Quebec – (July 18, 2017) – The Cutler Property Group announced today it has closed on its acquisition of a 52,000 sq ft office building located at 254 Court Ave and an adjacent 45 car surface parking lot located at 255 Jefferson Ave in downtown Memphis Tennessee. The five - storey building was built in 1906 for Crane Company as their regional headquarters and is one of Memphis’ first fireproof buildings. In recent years, it was completely renovated with Class “A” office finishes thru-out. Featuring stylish brick-wall offices, mutli-zone HVAC, building-floor-elevator card access control, security & video monitoring, full fire protection, 100-KVA backup Uninterruptable Power Supply and private fenced parking. The property is located at Court Ave & 4th Street - one block from the Madison Ave trolley line.
“Memphis has so many beautiful old buildings in the downtown core but rarely are they renovated to the extent 254 Court Ave is.” said Adam Cutler, President. “During the past three years, it has been wonderful to be a part of the tremendous downtown turn-around and I look forward to its exciting future. This acquisition is part of our plan to acquire up to $10 million of property in the Memphis area.”
The building is available for lease in its entirety or by floor. Alex Stringfellow and Ron Riley of Colliers International (901-375-4800) have been retained to handle leasing enquiries. "We look forward to working with Adam and marketing the building. Tenants will be impressed with the overall quality of the building and our price point" said Riley, Senior Vice President
About Cutler Property Group
The Cutler Property Group is a leading developer and investor in value-add, distressed and early market property opportunities. During its 35-year history, they have purchased and developed more than 1.5M square feet of commercial space in Canada and USA.
For further information, please contact:
Adam A. Cutler, President 901-254-8777 [email protected] www.cutler-group.com
2015 August
FOR IMMEDIATE RELEASE
THE CUTLER PROPERTY GROUP
The Cutler Property Group Announces Agreement to Lease 25,000sf in Downtown Memphis, Tennessee to Shelby County Sheriff’s Department
MONTREAL, QUEBEC,
August 20, 2015
The Cutler Property Group announced today it has entered into an agreement to lease its building at 273 Washington Ave in downtown Memphis TN to Shelby County Sheriff’s Dept. The building, comprised of 25,000 sf of gross leasable area, is located directly across from both Memphis and Shelby County police headquarters and justice center.
"We are excited to enter into a long-term relationship with the county." said Adam Cutler, President. "It enables us to expand our presence in downtown and mid-town Memphis.”
About The Cutler Property Group - The Cutler Property Group is a leading developer and investor in undervalued, distressed and early market property opportunities. They have purchased and developed more than 1.5M square feet of commercial space. During its history, The Cutler Property Group has worked with many institutions and REIT partners.
FOR FURTHER INFORMATION PLEASE CONTACT: Adam A. Cutler President 514-867-3545 [email protected] SOURCE: The Cutler Group © 2015 - All rights reserved.
_______________________________________________________________________________________________________________________
Ground Breaking Digital-Only News Platform,
The Daily Memphian – finds their creative work space @
CRANE CO. Building of Memphis
254 Court Ave. Memphis TN
Cutler Property Group is pleased to play a part in the important launch of the
digital news provider, The Daily Memphian and its owner The Memphis Fourth
Estate, with their recent lease in our downtown property.
Memphis, TN – (Aug 16, 2018) – Cutler Property Group announced today it has leased a complete
floor of approximately 8,000 sf of space in its 52,000 sq ft multi concept commercial building located at
254 Court Ave. known as CRANE CO. Building in downtown Memphis, Tennessee. Occupancy began
August 1st.
“It’s an honor that The Daily Memphian publishers chose to locate their offices in the Crane Co
Building,” said Adam Cutler, President. “Timing couldn’t have been better for us as the space had just
been freed up by Hallmark Channel Movie production “Christmas At Graceland” starring Kellie Pickler.
Since December when we began leasing and delivering office space, demand has far exceeded our
expectations. Despite a tough downtown office leasing market, we have gone from nearly vacant to
almost full in less than a year. We currently have only a few individual offices remaining available along
with our 5th floor which will be soon be marketed to the legal community.”
“The Crane Co. building was a great fit for what we’re doing at The Daily Memphian,” said Eric Barnes,
President & Executive Editor. “The building combines collaborative open spaces with privacy needed for
reporters and editors to do their work. And combined with the massive renovation of the Hickman
Building next door, the flurry of downtown redevelopment is clearly finally reaching this edge of
downtown Memphis.”
About The Daily Memphian
Frustrated by the gutting of local journalism in Memphis, a group of seasoned journalists, media
professionals and concerned citizens gathered to discuss the need for strong, locally focused and locally
produced daily news. After much research and outreach to local and national media professionals and
thought leaders, Memphis Fourth Estate Inc. was formed. A 501(C)3 nonprofit, Memphis Fourth Estate
owns and operates The Daily Memphian; however, the newsroom operates independently of Memphis
Fourth Estate's influence and will not know donor names or pledges.
About CRANE CO Building of Memphis
The five-story building was built in 1904 for Crane Company as their regional headquarters and is one of
Memphis’ first fireproof buildings. Recently, it was completely renovated with Class “A” office finishes
throughout and is now a multi concept building with each floor having a unique profile with an artcentric
atmosphere Featuring stylish brick-wall offices, multi-zone HVAC, building-floor-elevator card
access control, security & video monitoring, full fire protection, and private fenced parking. The
property is located at Court Ave & 4th Street - one block from the Madison Ave trolley line.
About Cutler Property Group
The Cutler Property Group is a leading developer and investor in value-add, distressed and early market
property opportunities. During its 35-year history, they have purchased and developed more than 1.5M
square feet of commercial space in Canada and the USA.
For further information, please contact:
Adam A. Cutler, President 901-254-8777 [email protected] www.254court.com
FOR IMMEDIATE RELEASE
Producers of "Christmas at Graceland", a Hallmark Channel original movie, find their creative work space in CRANE CO. Building at 254 Court Ave. Memphis TN
Cutler Property Group once again is pleased to play a part in the growing film industry happening in Memphis with their recent agreement with the producers of "Christmas at Graceland" to take one complete floor in their downtown property.
Memphis, TN – (June 28, 2018) – Cutler Property Group announced today it has leased a complete floor of approximately 7,000 sf of office space in its 52,000 sq ft office building located at 254 Court Ave known as CRANE CO. Building in downtown Memphis, Tennessee. Occupancy began last week and will continue until mid August.
“Its an honor that the "Christmas at Graceland" producers chose to locate their offices in the Crane Co Building.” said Adam Cutler, President. “Since last December we have been delivering mostly individual executive offices and office suites on our lower floors at rapid pace. We only just finished preparing this floor the week before the producers came to see it. The film industry has special needs and from our experience over the years including CMT’s TV series “Sun Records”, we knew our space would be perfect for this production.”
“We are absolutely delighted to be here in Memphis and have been received with open arms. Every person we deal with is nicer than the last, making themselves available and going out of their way to make our experience here a memorable one.” said Ryan Westheimer, Line Producer. “From my first call with Linn Sitler of Memphis Film Commission, it was like I had known her for years. Her office and the city as will as Bob from the State Office have been beyond amazing. Linn and Sharon even helped us find our Production Office space which we love,”
About Christmas At Graceland Production
In "Christmas At Graceland," Laurel (Kellie Pickler), a Chicago-based business executive travels to Memphis with her daughter to secure one of the city's oldest family-owned banks. While in Memphis, Laurel reunites with an old flame Clay, a local music promoter with loftier aspirations. Discovering that Clay is producing a Christmas concert at Graceland, Laurel and her daughter spend a magical week experiencing the wonders of both Graceland and Memphis at Christmastime. Though Laurel tries to keep her eye on the prize of the business acquisition, the re-emergence of Clay and their past together throws an interesting kink into her already hectic life.
(Photo: (Photo by Matt Sayles/Invision/AP)
About CRANE CO Building of Memphis
The five - storey building was built in 1904 for Crane Company as their regional headquarters and is one of Memphis’ first fireproof buildings. Recently, it was completely renovated with Class “A” office finishes thru-out. Featuring stylish brick-wall offices, multi-zone HVAC, building-floor-elevator card access control, security & video monitoring, full fire protection, 100-KVA backup Uninterruptable Power Supply and private fenced parking. The property is located at 254 Court Ave, Memphis TN 38103.
About Cutler Property Group
The Cutler Property Group is a leading developer and investor in value-add, distressed and early market property opportunities. During its 35-year history, they have purchased and developed more than 1.5M square feet of commercial space in Canada and USA.
For further information, please contact:
Adam A. Cutler, President 901-254-8777 [email protected] www.254court.com
FOR IMMEDIATE RELEASE
THE CUTLER PROPERTY GROUP
The Cutler Property Group Announces Acquisition of a 52,000 sq ft office building and adjacent 45 car surface parking lot in downtown Memphis, Tennessee.
Montreal, Quebec – (July 18, 2017) – The Cutler Property Group announced today it has closed on its acquisition of a 52,000 sq ft office building located at 254 Court Ave and an adjacent 45 car surface parking lot located at 255 Jefferson Ave in downtown Memphis Tennessee. The five - storey building was built in 1906 for Crane Company as their regional headquarters and is one of Memphis’ first fireproof buildings. In recent years, it was completely renovated with Class “A” office finishes thru-out. Featuring stylish brick-wall offices, mutli-zone HVAC, building-floor-elevator card access control, security & video monitoring, full fire protection, 100-KVA backup Uninterruptable Power Supply and private fenced parking. The property is located at Court Ave & 4th Street - one block from the Madison Ave trolley line.
“Memphis has so many beautiful old buildings in the downtown core but rarely are they renovated to the extent 254 Court Ave is.” said Adam Cutler, President. “During the past three years, it has been wonderful to be a part of the tremendous downtown turn-around and I look forward to its exciting future. This acquisition is part of our plan to acquire up to $10 million of property in the Memphis area.”
The building is available for lease in its entirety or by floor. Alex Stringfellow and Ron Riley of Colliers International (901-375-4800) have been retained to handle leasing enquiries. "We look forward to working with Adam and marketing the building. Tenants will be impressed with the overall quality of the building and our price point" said Riley, Senior Vice President
About Cutler Property Group
The Cutler Property Group is a leading developer and investor in value-add, distressed and early market property opportunities. During its 35-year history, they have purchased and developed more than 1.5M square feet of commercial space in Canada and USA.
For further information, please contact:
Adam A. Cutler, President 901-254-8777 [email protected] www.cutler-group.com
2015 August
FOR IMMEDIATE RELEASE
THE CUTLER PROPERTY GROUP
The Cutler Property Group Announces Agreement to Lease 25,000sf in Downtown Memphis, Tennessee to Shelby County Sheriff’s Department
MONTREAL, QUEBEC,
August 20, 2015
The Cutler Property Group announced today it has entered into an agreement to lease its building at 273 Washington Ave in downtown Memphis TN to Shelby County Sheriff’s Dept. The building, comprised of 25,000 sf of gross leasable area, is located directly across from both Memphis and Shelby County police headquarters and justice center.
"We are excited to enter into a long-term relationship with the county." said Adam Cutler, President. "It enables us to expand our presence in downtown and mid-town Memphis.”
About The Cutler Property Group - The Cutler Property Group is a leading developer and investor in undervalued, distressed and early market property opportunities. They have purchased and developed more than 1.5M square feet of commercial space. During its history, The Cutler Property Group has worked with many institutions and REIT partners.
FOR FURTHER INFORMATION PLEASE CONTACT: Adam A. Cutler President 514-867-3545 [email protected] SOURCE: The Cutler Group © 2015 - All rights reserved.
_______________________________________________________________________________________________________________________
2014 March
FOR IMMEDIATE RELEASE
THE CUTLER PROPERTY GROUP
The Cutler Property Group Announces Acquisition of Two Buildings in Downtown Memphis, Tennessee MONTREAL, QUEBEC,
Mar 20, 2014 (Marketwired via COMTEX) --
The Cutler Property Group announced today it has closed on its acquisition of two commercial/industrial buildings comprised of approximately 65,000 sf of gross leasable area on two acres of land. The buildings are located at 296 Adams Avenue and 273 Washington Avenue, directly across from Memphis police headquarters and county justice center in downtown Memphis. Located a few hundred feet from Memphis City Hall, the county court-house and other federal buildings, 296 Adams is ideal for office/warehouse/distribution use and can be subdivided for up to 3 tenants. The Washington property lends itself to many redevelopment possibilities including showroom/retail space. The two buildings back onto each other and were occupied by Tennessee Valley Electric Supply Company (TVESCO) from the 1960's until 2008. In 2008 HD Supply, a spinoff entity of Home Depot, acquired TVESCO and relocated its operations. Since 2008, the properties have been vacant but well maintained including a security alarm system, heating and air conditioning. "We see this as a tremendous redevelopment opportunity," said Adam Cutler, President. "It enables us to establish a presence in Memphis and deploy many of our same turn-around strategies that ignited interest and demand for commercial loft space along Montreal's Lachine Canal. This acquisition is part of our plan to acquire up to $10 million of property in the Memphis area." "Memphis is not just a city with amazing music, food and culture, it has an abundance of beautiful historic buildings waiting to be redeveloped. Affordable inspiring spaces is one reason why in 2013, Forbes ranked Memphis as one of the top US cities with Emerging Downtowns." About The Cutler Property Group The Cutler Property Group is a leading developer and investor in undervalued, distressed and early market property opportunities. They has purchased and developed more than 1.5M square feet of commercial space. During its history, The Cutler Property Group has also worked with many institutions and was an important development partner of Alexis Nihon REIT.
FOR FURTHER INFORMATION PLEASE CONTACT: Adam A. Cutler President 514-867-3545 [email protected] SOURCE: The Cutler Group © 2014 Marketwire L.P. All rights reserved.
__________________________________________________________________________________________________
2010 December
FOR IMMEDIATE RELEASE
THE CUTLER PROPERTY GROUP
The Cutler Property Group Announces Acquisition of Samuelsohn Building in Montreal
Montreal, Quebec – (December 27, 2010) –
The Cutler Property Group announced today it has closed the acquisition of the Samuelsohn Building comprised of 105,000 square feet of gross leasable area and 35 indoor parking spaces. The building is located at 6930 ave du Parc, Montreal, just north of the Plateau Mont Royal District and one block south of Jean Talon Metro / AMT train station. It is currently 100% leased on a long term basis to Samuelsohn Ltd., manufacturer of fine hand-made gentlemen’s clothing. Samuelsohn Ltd was founded in 1923 and has been located at the same ave du Parc address since 1947. In 1997 the original building was completely overhauled and expanded. Samuelsohn Ltd employs approximately 300 at its ave du Parc location.
The purchase price represents a “going in” capitalization rate of 8.5%. The investment, when levered with today’s low five-year interest rates, will yield a double digit return on cash. More importantly, the investment satisfies a “paid to wait” redevelopment strategy to benefit eventually from the $1.4 billion newUniversité de Montréal Outremont Campus located directly adjacent the property. Work began on the new campus in October 2010 with the first building providing 600,000 square feet, scheduled to be completed 2012-2014.
About The Cutler Property Group
The Cutler Property Group is a leading developer and investor in undervalued, distressed and early market property opportunities, It was one of the 1st to recognize the development potential of old industrial sites along the Lachine Canal in the early 1990’s where it purchased and developed nearly 1M square feet of commercial space. The Cutler Property Group has also worked on many h was an important development partner to Alexis Nihon REIT.
For further information, please contact:
Adam A. Cutler
President
514-867-3545
_____________________________________________________________________________________________
2010 October
FOR IMMEDIATE RELEASE
THE CUTLER PROPERTY GROUP ANNOUNCES INDUSTRIAL BUILDING ACQUISITION IN TOWN OF MONT ROYAL - MONTRÉAL.
Montreal, October 5, 2010 – The Cutler Property Group announced today that it has entered into an agreement to purchase 5800 Ferrier, Town of Mont Royalin Montréal. Located on the south side of Ferrier St, just west of Decarie Expressway, this industrial building is comprised of 73,000 square feet of gross leasable area. It is 78% leased to 11 industrial and office tenants. The acquisition is scheduled to close in October 2010. All conditions have been removed.
For further information, please contact:
Adam A. Cutler
President
514-867-3545
_____________________________________________________________________________________________
2008 September
FOR IMMEDIATE RELEASE
4545 SHERBROOKE ST. W., WESTMOUNT QC
THE CUTLER PROPERTY GROUP ANNOUNCES
SALE SEMI-COMMERCIAL BUILDING IN WESTMOUNT
Montreal, September 15, 2008 – The Cutler Property Group announced
today that it has closed the sale of 4545 Sherbrooke St. W, Westmount.
For further information, please contact:
Adam A. Cutler
President
514-867-3545
_____________________________________________________________________________________________
2007 January
NEWS RELEASE
PAGEHeadline: The Cutler Property Group & Grassi Construction Inc. enter development with Alexis Nihon REIT on $11.1 million property acquisition in Pointe-Claire, QuebecMONTREAL,
June 20 – The CUTLER PROPERTY GROUP & GRASSI CONSTRUCTION INC. announce that they have entered into a development agreement with ALEXIS NIHON REIT upon the acquisition today of a land site fronting on Trans-Canada Highway in Pointe-Claire, Quebec, The site located at 2400 – 2620 Trans-Canada Highway south service road comprises of 894,300 square feet of land area and approximately 293,000 square feet of mostly older industrial / warehouse space.
The Cutler Property Group (3286924 Canada Inc. President: Adam Cutler) and Grassi Construction Inc. (President: Sabino Grassi), the development partners, shall oversee a multiyear redevelopment of the site. . Projected plans call for two phases of work. The 1st phase is estimated to cost $7,000,000 and shall consist of the demolition of the east side buildings fronting on Trans-Canada and the construction of approximately 120,000 sf. of new light industrial/warehouse & hi-tech office space for 1 – 4 tenants. The 2nd phase shall consist of new construction on the west side Trans-Canada frontage for an entirely new self contained building for a large built to suit tenant looking for up to 450,000 sf. Accomplished architect Maurice Bergman has been retained to complete site and building plans. Leasing will be handled through Metivier, Grassi Real Estate Services Inc.
For more information please contact Adam Cutler of The Cutler Group @ 514-867-3545. www.cutler-group.com : e-mail: [email protected] or Sabino Grassi of Grassi Construction Inc. @ 514-879-1597.
For leasing information please contact Cindy Falcone at Metivier, Grassi Real Estate Services @ 514-879-1597.
FOR IMMEDIATE RELEASE
THE CUTLER PROPERTY GROUP
The Cutler Property Group Announces Acquisition of Two Buildings in Downtown Memphis, Tennessee MONTREAL, QUEBEC,
Mar 20, 2014 (Marketwired via COMTEX) --
The Cutler Property Group announced today it has closed on its acquisition of two commercial/industrial buildings comprised of approximately 65,000 sf of gross leasable area on two acres of land. The buildings are located at 296 Adams Avenue and 273 Washington Avenue, directly across from Memphis police headquarters and county justice center in downtown Memphis. Located a few hundred feet from Memphis City Hall, the county court-house and other federal buildings, 296 Adams is ideal for office/warehouse/distribution use and can be subdivided for up to 3 tenants. The Washington property lends itself to many redevelopment possibilities including showroom/retail space. The two buildings back onto each other and were occupied by Tennessee Valley Electric Supply Company (TVESCO) from the 1960's until 2008. In 2008 HD Supply, a spinoff entity of Home Depot, acquired TVESCO and relocated its operations. Since 2008, the properties have been vacant but well maintained including a security alarm system, heating and air conditioning. "We see this as a tremendous redevelopment opportunity," said Adam Cutler, President. "It enables us to establish a presence in Memphis and deploy many of our same turn-around strategies that ignited interest and demand for commercial loft space along Montreal's Lachine Canal. This acquisition is part of our plan to acquire up to $10 million of property in the Memphis area." "Memphis is not just a city with amazing music, food and culture, it has an abundance of beautiful historic buildings waiting to be redeveloped. Affordable inspiring spaces is one reason why in 2013, Forbes ranked Memphis as one of the top US cities with Emerging Downtowns." About The Cutler Property Group The Cutler Property Group is a leading developer and investor in undervalued, distressed and early market property opportunities. They has purchased and developed more than 1.5M square feet of commercial space. During its history, The Cutler Property Group has also worked with many institutions and was an important development partner of Alexis Nihon REIT.
FOR FURTHER INFORMATION PLEASE CONTACT: Adam A. Cutler President 514-867-3545 [email protected] SOURCE: The Cutler Group © 2014 Marketwire L.P. All rights reserved.
__________________________________________________________________________________________________
2010 December
FOR IMMEDIATE RELEASE
THE CUTLER PROPERTY GROUP
The Cutler Property Group Announces Acquisition of Samuelsohn Building in Montreal
Montreal, Quebec – (December 27, 2010) –
The Cutler Property Group announced today it has closed the acquisition of the Samuelsohn Building comprised of 105,000 square feet of gross leasable area and 35 indoor parking spaces. The building is located at 6930 ave du Parc, Montreal, just north of the Plateau Mont Royal District and one block south of Jean Talon Metro / AMT train station. It is currently 100% leased on a long term basis to Samuelsohn Ltd., manufacturer of fine hand-made gentlemen’s clothing. Samuelsohn Ltd was founded in 1923 and has been located at the same ave du Parc address since 1947. In 1997 the original building was completely overhauled and expanded. Samuelsohn Ltd employs approximately 300 at its ave du Parc location.
The purchase price represents a “going in” capitalization rate of 8.5%. The investment, when levered with today’s low five-year interest rates, will yield a double digit return on cash. More importantly, the investment satisfies a “paid to wait” redevelopment strategy to benefit eventually from the $1.4 billion newUniversité de Montréal Outremont Campus located directly adjacent the property. Work began on the new campus in October 2010 with the first building providing 600,000 square feet, scheduled to be completed 2012-2014.
About The Cutler Property Group
The Cutler Property Group is a leading developer and investor in undervalued, distressed and early market property opportunities, It was one of the 1st to recognize the development potential of old industrial sites along the Lachine Canal in the early 1990’s where it purchased and developed nearly 1M square feet of commercial space. The Cutler Property Group has also worked on many h was an important development partner to Alexis Nihon REIT.
For further information, please contact:
Adam A. Cutler
President
514-867-3545
_____________________________________________________________________________________________
2010 October
FOR IMMEDIATE RELEASE
THE CUTLER PROPERTY GROUP ANNOUNCES INDUSTRIAL BUILDING ACQUISITION IN TOWN OF MONT ROYAL - MONTRÉAL.
Montreal, October 5, 2010 – The Cutler Property Group announced today that it has entered into an agreement to purchase 5800 Ferrier, Town of Mont Royalin Montréal. Located on the south side of Ferrier St, just west of Decarie Expressway, this industrial building is comprised of 73,000 square feet of gross leasable area. It is 78% leased to 11 industrial and office tenants. The acquisition is scheduled to close in October 2010. All conditions have been removed.
For further information, please contact:
Adam A. Cutler
President
514-867-3545
_____________________________________________________________________________________________
2008 September
FOR IMMEDIATE RELEASE
4545 SHERBROOKE ST. W., WESTMOUNT QC
THE CUTLER PROPERTY GROUP ANNOUNCES
SALE SEMI-COMMERCIAL BUILDING IN WESTMOUNT
Montreal, September 15, 2008 – The Cutler Property Group announced
today that it has closed the sale of 4545 Sherbrooke St. W, Westmount.
For further information, please contact:
Adam A. Cutler
President
514-867-3545
_____________________________________________________________________________________________
2007 January
NEWS RELEASE
PAGEHeadline: The Cutler Property Group & Grassi Construction Inc. enter development with Alexis Nihon REIT on $11.1 million property acquisition in Pointe-Claire, QuebecMONTREAL,
June 20 – The CUTLER PROPERTY GROUP & GRASSI CONSTRUCTION INC. announce that they have entered into a development agreement with ALEXIS NIHON REIT upon the acquisition today of a land site fronting on Trans-Canada Highway in Pointe-Claire, Quebec, The site located at 2400 – 2620 Trans-Canada Highway south service road comprises of 894,300 square feet of land area and approximately 293,000 square feet of mostly older industrial / warehouse space.
The Cutler Property Group (3286924 Canada Inc. President: Adam Cutler) and Grassi Construction Inc. (President: Sabino Grassi), the development partners, shall oversee a multiyear redevelopment of the site. . Projected plans call for two phases of work. The 1st phase is estimated to cost $7,000,000 and shall consist of the demolition of the east side buildings fronting on Trans-Canada and the construction of approximately 120,000 sf. of new light industrial/warehouse & hi-tech office space for 1 – 4 tenants. The 2nd phase shall consist of new construction on the west side Trans-Canada frontage for an entirely new self contained building for a large built to suit tenant looking for up to 450,000 sf. Accomplished architect Maurice Bergman has been retained to complete site and building plans. Leasing will be handled through Metivier, Grassi Real Estate Services Inc.
For more information please contact Adam Cutler of The Cutler Group @ 514-867-3545. www.cutler-group.com : e-mail: [email protected] or Sabino Grassi of Grassi Construction Inc. @ 514-879-1597.
For leasing information please contact Cindy Falcone at Metivier, Grassi Real Estate Services @ 514-879-1597.