top of page
Our Services
Our Services


At Michael Lightman Realty Company, we have developed over 5 million square feet of retail, multi-family, industrial, and movie theatres.



We offer both landlord-representation and 3rd party tenant-representation brokerage services.


Property Management

Through our subsidiary companies, we offer retail and industrial property management and multi-family property management for owned-assets as well as 3rd party.


Project Management

We manage all phases of real estate developments, from zoning, through construction, to delivery.


Investment Sales

Focused primarily on owned-assets, we strive to achieve maximum return on investment.


Land Sales

We work with investors and partners on land investments and sales ranging from small outparcels to large industrial plots.

Meet The Team
Meet The Team

Michael Lightman, Sr.


As founder and president of Michael Lightman Realty Company, Michael Sr. has developed over 1.5 million square feet of retail shopping centers, 2 million square feet of apartments, 1 million square feet of movie theaters, and half a million square feet of warehouses.  Michael Sr. formed the company in 1970, at which time he focused on brokering the sale of land, apartment communities, and shopping centers.   By 1972 he was investing in land and beginning to develop for himself.  Since that time, Michael Sr. has bought, sold, and developed land in Tennessee, Mississippi, Arkansas, Kentucky, and Louisiana.  He has also founded a retail property management company, Retail Management Services Company, and an apartment management company, Specialized Property Management.


Michael is a life-long Memphian, and has enjoyed being a member of Memphi, Temple Israel, Ridgeway Country Club, and Spring Creek Ranch.  He has served on the board for Memphis Arts Council and The Orpheum Theatre.  He was also King of Carnival Memphis in 2012.  He enjoys spending time with his wife, three children, and two grandchildren.  When not at work, he can be found playing tennis, golf, water skiing, or hiking.


Michael Lightman, Jr.

Vice President

Michael Lightman Jr. is a lifelong Memphian.  He graduated from Briarcrest High School and later attended the University of Montana followed by The University of Memphis where he received a Major in Real Estate and a Minor in Finance.  After graduation Michael went to work at The Trammel Crow Company where his main focus was retail leasing and brokerage. 

In 1997 Michael left The Trammel Crow Company and went to work at Michael Lightman Realty Co.  He began focusing his attention on leasing the company’s retail centers and Tenant Representation and Brokerage.  He later began learning the development end of the business.  He began by developing single tenant buildings, restaurants, multiple tenant buildings, and then expanding to retail shopping centers.  In 2009 Michael took the lead as developer and began expanding his family’s apartment community portfolio.  Michael Lightman Realty Co. currently owns and manages over 2,000 units with future developments in the planning stages.

Michael has been a supporter of the Memphis Zoo, Brooks Museum of Art, Memphis Symphony Orchestra, Shelby Farms, St. Jude, and Regional One Health.  He is a member of Lambda Alpha International, Memphi, and is a member of Ninety West Racing Cycling Team which is a local armature cycling team. Michael, his wife Suzana, daughter Sienna, and son Aidan enjoy traveling, hiking, water sports, snow skiing and playing tennis together.  Michael also has a passion for fishing and cycling.


Stephanie Cannon

Chief Financial Officer

Stephanie Cannon joined Michael Lightman Realty Company in May 2003.  She is primarily responsible for the financial reporting and related tax matters for Michael Lightman and his related entities.  She also facilitates financing and establishes banking for the company.


Stephanie graduated from the University of Memphis with a Bachelor’s Degree in Business.  She joined the public accounting firm, BDO USA LLP after graduation where she worked for 5 years as an auditor and although she is currently inactive, Stephanie has earned her license as a Certified Public Accountant.


Outside the office, Stephanie enjoys time with her family, running and practicing yoga.


Debra Owings

President - Retail Management Services Company

Subsidiary of Michael Lightman Realty Company

Debra Owings began her career in property management over 35 years ago. She transitioned from multi-family management to commercial property management when she joined Weston Companies where she became a Vice President of Commercial Real Estate. In 2006 Debra worked with Michael Lightman to found Retail Management Services, Co. where she serves as president. In addition to asset management, Debra assists with acquisitions, developments and due diligence concerning purchases and sales of commercial real estate. 

Debra has served on the board for Habitat for Humanity of Greater Memphis, which she feels is one of her greatest lifetime investments. She served as president of the local chapter of Institute of Real Estate Management as well as Regional Vice President serving TN, NC and SC.  Debra is a member of International Council of Shopping Centers, National Association of Realtors and Memphi. She is a longtime supporter of Youth Villages and Memphis Botanic Gardens.



Adam Lightman


Adam works alongside his father Michael Sr. and brother Michael Jr. to assist in asset management and future developments.  Adam also assists in investment sales analysis and digital marketing.

Before transitioning into real estate, Adam taught high school math and physics for six years in Nashville, TN.  He holds BS degrees in Business and Engineering from the University of Colorado, Boulder and a MSE degree from Johns Hopkins University.  Adam and his wife Madeleine enjoy living in Memphis, being with family, playing tennis, rock climbing, and being outdoors.


Joanie Lightman

Risk Management Officer &

Lease Administrator

Joanie has worked alongside her husband, Michael, Sr., since 1990 serving early on as office manager and overseeing several developments; transitioning to lease administration, insurance and risk management oversight.  

A lifelong Memphian, Joanie holds BS degrees in Journalism and Communications from Memphis State University, has served on the boards of Le Bonheur Club, Playhouse on the Square, St. George's Independent School, Carnival Memphis and Le Bonheur Garden Club, and enjoys volunteering at Le Bonheur Children's Hospital, playing tennis and golf, hiking, biking and gardening.


Merrie Beck

President - Specialized Property Management Group  

Subsidiary of Michael Lightman Realty Company

As president, Merrie Beck leads Specialized Property Management Group in strategic planning and implementation of all processes in property operations and financial performance for owned and managed assets. She has an extensive background in lease-ups, new construction, and rehabs. 

Merrie has over 15 years of experience in the multifamily industry including affordable, conventional, bond, and receiverships. In 2008, she received her HCCP certification. Merrie earned a bachelors degree from the University of Tennessee- Knoxville before receiving her MBA from the University of Memphis.  She is a CPM candidate with IREM while serving on the executive council as Treasurer in 2019. Merrie received the IREM CPM candidate of the year award for outstanding services in 2018 and the IREM presidential award in 2019.

bottom of page