Memphis Bonding Agency Moving

  • Date 11/27/2018

Memphis Bonding Agency Moving

By Jacob Steimer - Staff Reporter, Memphis Business Journal 

Nov 27, 2018, 2:22pm CST Updated Nov 27, 2018, 3:53pm EST 

An insurance and bonding company that specializes in construction project bonds has leased new office space in East Memphis.

In January, Harris Madden & Powell will be moving to 11,500 square feet in the Colonnade building at 1661 International Drive, co-owner Jay Madden said Monday. The company has been occupying 10,000 square feet at 1770 Kirby Parkway for the last 17 years.

"We have some space limitations [on Kirby]," Madden said. "[The move] allows for a more friendly work environment [with] all new furniture."

Madden said he's hoping the new offices will help the firm attract younger employees. With the local construction industry doing so well the past five years, the firm's revenue has been growing annually by 9 percent but its employee count hasn't kept up.

"The construction economy is very robust, [which has] made for some long days over here," Madden said.


Colonnade building

THE MARSTON GROUP PLC

The firm chose the Colonnade due to landlord Highwoods Properties' reputation and the building's surroundings.

"We think the location is the center of the universe," Madden said. "We’re really excited about the address … next to the International Paper campus, [which is] the crown jewel of the East Memphis business district."

Nashville-based FirstBank announced in May it is moving its local corporate offices from Colonnade to TraVure.