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Editorial Results (free)

1. Music Lounge to Open in Edge District -

The Edge District near Downtown lost a theater but is gaining a new live music lounge in August.

The Dizzy Bird, named after legendary Jazz greats John “Dizzy” Gillespie and Charlie “Bird” Parker, is slated to open Aug. 2 at 652 Marshall Ave.

2. Pahlow Wins Broker of the Year -

After enduring early struggles in his commercial real estate career, Scott Pahlow has reached the top of his industry.

Pahlow, an executive vice president with Newmark Grubb Memphis, was named Commercial Broker of the Year Thursday night at the Memphis Area Association of Realtors Commercial Council’s 13th annual Pinnacle Awards gala.

3. FedExForum Area Targeted for Apartments -

Nashville-based Elmington Capital Partners apparently likes the apartment market in Downtown Memphis.

An Elmington-affiliated company plans on building a 64-unit apartment complex at 362 S. Second St., south of FedExForum.

4. Airport Center Signs Two New Tenants -

Memphis International Airport Center in Southeast Memphis has recently experienced positive leasing activity.

Lansing Building Products, a major supplier of building products such as siding, windows, gutters, trims, railings, columns and stone, renewed its 24,524-square-foot lease at 3510 Winchester Road.

5. Levenger Leases Up EastPark IV -

A Delray Beach, Fla.-based specialty retail company is relocating its Memphis distribution warehouse within the Southeast submarket.

Levenger has inked 96,400 square feet in EastPark Distribution Center IV, 5265 Hickory Hill Road, bringing the 372,800-square-foot building to full occupancy. Levenger also has an operation at 3530 E. Raines Road.

6. Daves Quickly Climbing Commercial Real Estate Ranks -

In Bryce Daves’ three years in the commercial real estate business, he’s quickly climbed the ranks to lease some 2 million square feet of property.

The CB Richard Ellis Memphis associate was promoted in March to leasing agent for Bellbrook Industrial Park – a 13-building campus in the southwest Memphis industrial submarket totaling more than 1.6 million square feet spread over 100 acres.

7. Aren Buys SE Memphis Warehouse For $1.3M -

Trane U.S. Inc. has sold its parts distribution center in Southeast Memphis for $1.3 million.

Aren Investments LLC of Memphis acquired the 99,375-square-foot distribution warehouse at 4250 Concord Road. The company, which used a 1450 Massey Road address on the Shelby County Register of Deeds, financed the purchase with an $800,000 loan through BancorpSouth Bank. Igal Elfezouaty signed the trust deed as managing member of Aren.

8. Fla. Company Buys Cordova Retail Center -

Coral Springs, Fla.-based Swiss Capital Group LLC has acquired The Shops of Woodland Hills in Cordova for $3.1 million.

9. DRA Advisors Closes on Two Shelby Drive Warehouses -

New York-based DRA Advisors LLC has closed on two Memphis warehouse properties for $12.3 million, as part of a larger portfolio purchase from Houston-based Weingarten Realty Investors.

10. CBRE Promotes Four Brokers -

Four of CB Richard Ellis Memphis’ brokerage professionals received promotions last week – Patrick Burke, Alex Turley, Brad Murchison and Bobby Daush.

11. Pera, Lightman, Rainer V Take Top Pinnacle Awards -

The Memphis Area Association of Realtors Commercial Council honored the top performers in commercial real estate for 2011 at the 11th annual Pinnacle Awards gala, held Tuesday, April 24, at the Holiday Inn University of Memphis.

12. Awards Just One Facet Of Comm. Council -

This year marks a decade of existence for the Memphis Area Association of Realtors’ Commercial Council, the trade organization for the commercial real estate profession and its related sectors.

The council has about 325 members whose professions include commercial developers, brokers, property managers and other related CRE careers. Two of the council’s main events each year are the Commercial Property Forecast Summit, held in February, and the Pinnacle Awards, which honor the highest-producing commercial brokers each spring.

13. Weingarten Realty to Sell Two Industrial Properties -

Weingarten Realty Investors, a Houston-based owner, manager and developer of shopping centers, is preparing to sell its wholly-owned industrial portfolio – which includes two properties in Memphis – to New York-based DRA Advisors LLC for $382.4 million.

14. Trane Signs Lease on Tradeport Drive -

Trane U.S. Inc. has finalized its 625,000-square-foot industrial lease in Southeast Memphis after the deal process initially began in January 2011.

15. Trane US Inks Lease for 625K Sq. Feet in SE Memphis -

Trane U.S. Inc. has finalized its 625,875-square-foot industrial lease in Southeast Memphis, confirmed Brad Murchison with CB Richard Ellis Memphis. The residential and commercial heating, ventilation and air-conditioning (HVAC) systems provider also has a location in Southaven.

16. Prolonged Recession -

In the words of Phil Woodard, an owner of multiple residential and commercial properties in Downtown Memphis, breaking even is the new profit.

Or as national real estate expert Jonathan Miller said earlier this month at the Urban Land Institute’s Real Estate Outlook for the Mid-South, “We cannot expect to make money the way we did a few years ago.”

17. Green Shoots -

As the local commercial real estate market approaches the end of 2011, experts say it appears to be in line with national fundamentals for secondary and tertiary markets.

Shelby County commercial sales in the third quarter were the highest sales volume since Q3 2007, with $259 million, according to real estate information company Chandler Reports, www.chandlerreports.com.

18. Murchison Combines Passion, Fun in Career at CBRE -

The phrase “There’s no place like home” rings true for native Memphian Brad Murchison. As a major player in the CB Richard Ellis industrial leasing team, Murchison finds Memphis to be a perfect fit for his career choice.

19. Ambulance Co. Signs New Lease, Ups Space -

A Nashville-based health care company is expanding its Memphis presence. First Call Ambulance Services LLC has signed a three-year, 13,500-square-foot lease at 5155 Wilfong Road, more than doubling its existing space on Federal Avenue.

20. Memphis Pride Signs Lease At Trinity Ridge -

An up-and-coming Mid-South cheer and tumbling company has signed a new lease to expand its business, a move that will benefit the facility’s students and parents alike.

Memphis Pride is relocating from a 5,000-square-foot space in Cordova Industrial Park to 16,080-square-foot lease at 7740 B Trinity Road, suite 126.

21. MBIN Signs New Lease At Bellbrook Park -

A Memphis-based wholesaler of collectable items has signed a new industrial lease in the Southwest submarket.

MBIN Global Inc. has signed a new lease for 26,250 square feet at Bellbrook Industrial Park, 1004 Brooks Road.

22. Pinnacle Awards Honor City’s Best Brokers -

As emcee Dan Conaway noted in his opening address Thursday night at the 10th annual Pinnacle Awards, “OK is the new great.”

23. Pinnacle Awards Honor City's Best Brokers -

As emcee Dan Conaway noted in his opening address Thursday night at the 10th annual Pinnacle Awards, “OK is the new great.”

24. Dotzour Outlines CRE Future at MAAR Summit -

For this year’s version of the commercial real estate industry to differ from 2010, the economy needs one thing – jobs.

That was the message Mark Dotzour, chief economist and director of research for the Real Estate Center at Texas A&M University, told a room full of local brokers, bankers and appraisers at Wednesday’s Commercial Property Forecast Summit, held at the Germantown Performing Arts Centre and sponsored by the Memphis Area Association of Realtors Commercial Council.

25. Summit to Provide Insights for CRE Market -

Commercial real estate professionals will soon have the opportunity to gain insight on local and national issues that have an effect on Memphis business.

The eighth annual Commercial Property Forecast Summit, presented by the Memphis Area Association of Realtors Commercial Council, will provide reviews and forecasts of four local commercial real estate sectors.

26. Interstate Brands Renews, Expands Lease -

Interstate Brands Corp. has renewed and expanded its lease in the Germantown Park - Kimbrough Building in Cordova, more than doubling its footprint.

27. Air Park Property Sells For $730,000 -

Crump Commercial LLC recently closed on a property at 3850 Air Park St., a deal that has been in the works for about six months.