Archer Malmo, a leading brand communications agency, together with Henry Turley Company, the Downtown Memphis-based real estate development firm, today announced that the agency has signed a fifteen-year lease in the Cotton Exchange Building in Downtown Memphis. The 10th floor expansion brings Archer Malmo’s total footprint in the historic landmark to nearly 55,000 square feet of pet-friendly space – about 75 percent of the historic 12-story building.
“We’ve been committed to the downtown business district for more than 30 years, and feel it’s the center of the creative community here in Memphis,” said Russ Williams, CEO of Archer Malmo. “The Henry Turley Company has been our partner since we moved into this building in the mid-1980s, and our shared vision for downtown Memphis is to create a vibrant creative core for the brightest and most talented creative and digital professionals in our region.”
Archer Malmo’s revenue has tripled since 2009 and grown 50 percent over the last 15 months alone, including two acquisitions. In June of 2015, the agency acquired Austin-based Tocquigny, now rebranded as Archer Malmo. In June of this year, the agency acquired Memphis-based boutique creative firm Combustion. Plans to bring the Combustion team into the Cotton Exchange Building next year plus strong organic growth spurred the need for increased office space.
“We’ve been at it a long time, starting with ad agencies and graphic designers, architects and engineers, writers and photographers, but now the time has really come to build the new economy down here,” said Henry Turley, CEO of Henry Turley Company.
Archer Malmo first moved into the Cotton Exchange Building in 1985 as Ward Archer & Associates, occupying a portion of the fifth floor. Between 2010 and 2017, the agency estimates it has invested more than $1.5 million in leasehold improvements in the building, including building modern, glass-walled offices that allow natural light to filter through each floor, adding co-working spaces throughout, and creating a large studio for video production in the lower lobby of the Cotton Exchange Building.
“Archer Malmo leasing 8 floors and committing to another 15 years at the Cotton Exchange is a real testimonial to this new economy that’s expanding right before our eyes in our Downtown Core,” said Alex Turley, Vice President of Real Estate at Henry Turley Company. “We see the combination of continued growth amongst the creative class in the district with a new brand of civic vitality emerging at the same time. The result is more and more innovative people are coming downtown, and it’s only right that Archer Malmo is leading the charge.”
The new lease agreement is effective February 2017 when the agency takes possession of the balance of the 10th floor. Archer Malmo will begin renovating the tenth floor in modern workspace style at that time. The agency employs 210 staff across its offices in Memphis and Austin16
Henry Turley Company develops community, seeking projects that will make our city better. We began our work back in the seventies, when Memphis had virtually no downtown housing; it had no loft apartments; the concept of New Urbanism did not exist and no one was developing diverse, mixed income communities. Today, our South Bluffs, Harbor Town and Uptown communities are thriving neighborhoods. Our residential properties range from urban lofts to repurposed historic buildings in downtown’s core to new mixed use developments in the burgeoning South End. We believe that Memphis’ core can be developed inclusively, and acting upon that conviction, we continue to pursue work that will enhance our community and add value to our City.
Lauren Whisenant Waites, Archer Malmo