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Editorial Results (free)

1. Changing Current -

The Uptown waterfront along the Wolf River Harbor – the area of the rejuvenated Uptown neighborhood that has for the most part been left out of the revitalization – could soon become a bustling waterfront village, according to a recently released master plan for the area.

2. Cresthaven Medical Building Sells for $2.5 Million -

1068 Cresthaven Road Memphis, TN 38119

Sale Amount: $2.5 million

Sale Date: May 2, 2013

3. Nike Distribution Center Issued $4.4 Million Permit -

The city-county Office of Construction Code Enforcement has issued a $4.4 million mechanical permit for work on Nike Inc.’s North Memphis distribution center at 3100 New Frayser Blvd.

4. Oakhaven Warehouse Sells After Foreclosure -

4120 Air Trans Road, Memphis, TN 38118

Sale Amount: $2.5 million

Sale Date: May 7, 2013

5. Nike Files $3 Million Permit for Distribution Center -

Nike Inc. has filed a $3 million permit application with the city-county Office of Construction Code Enforcement for work on its North Memphis distribution center at 3100 New Frayser Blvd.

6. Mitsubishi Back Story Moves to Manufacturing -

The back story of the new Mitsubishi Electric Power Products Inc. plant that formally opened in Southwest Memphis last week includes a sewer pipe, the Mojave Desert and artificial lightning.

7. Commercial Practitioners Have Voice With Council -

The Memphis Area Association of Realtors Commercial Council has grown and evolved over the past nine years since its inception, with membership increasing from 150 members in 2004 to more than 350 members this year.

8. Commercial Professionals Achieve Designations -

Eleven members of local professional organizations in commercial real estate reached elite status in 2012 in their respective fields, which include the Memphis metro area’s appraisers, commercial brokers and property managers.

9. Commercial Professionals Achieve Designations -

Eleven members of local professional organizations in commercial real estate reached elite status in 2012 in their respective fields, which include the Memphis metro area’s appraisers, commercial brokers and property managers.

10. State Systems Installs Green Ballast Lighting -

State Systems Inc., a privately owned total protection company based in Memphis, has installed Green Ballast Inc.’s light ballasts in its corporate headquarters and warehouse facility at 3755 Cherry Road.

11. State Systems Installs Green Ballast Lighting -

State Systems Inc., a privately-owned total protection company based in Memphis, has installed Green Ballast Inc.’s light ballasts in its corporate headquarters and warehouse facility at 3755 Cherry Road.

12. Madewell Coming to Saddle Creek -

The Shops of Saddle Creek in Germantown will soon gain another national retailer with no other presence in Tennessee.

Madewell, a subsidiary of J. Crew Group Inc., has signed a 3,061-square-foot lease in The Shops of Saddle Creek North, 7509 Poplar Ave., in part of the space that was previously The Gap in between James Avery Jewelry and Brighton Collectables.

13. Nike Buys Frayser Land From Belz for Expansion -

200 acres in Frayser Sale Amount: $2.2 million

Sale Date: Jan. 24, 2013

Buyer: Nike TN Inc.

14. Nike Buys Frayser Land From Belz for Expansion -

Nike Inc. has paid $2.2 million for about 200 acres of vacant land in Frayser from Belz Investco GP for an expansion of its North Memphis distribution center.

15. Work Under Way on East Memphis Mellow Mushroom -

Mellow Mushroom has applied for a building permit for its second Memphis-area location at 5138 Park Ave.

16. Work Under Way On Memphis Mellow Mushroom -

Mellow Mushroom has applied for a building permit for its second Memphis-area location at 5138 Park Ave.

17. Bronson Sporting Goods Adopts Green Lighting -

Tommy Bronson Sporting Goods, a local sporting goods provider for 86 years, has installed Green Ballast Inc.’s patented daylight harvesting fluorescent light ballasts in its new East Memphis location at 964 June Road.

18. Bronson Sporting Goods Adopts Green Ballast Lighting -

Tommy Bronson Sporting Goods, a local sporting goods provider for 86 years, has installed Green Ballast Inc.’s patented daylight harvesting fluorescent light ballasts in its new East Memphis location at 964 June Road.

19. MAAR Members Honored at End-of-Year Luncheon -

The Memphis Area Association of Realtors named the recipients of its 2012 awards at its year-end luncheon Dec. 19 at the Hilton Memphis.

Leon Dickson Sr. of BenchMark at Southwind LLC was named 2012 Realtor of the Year.

20. MAAR Members Honored at End-of-Year Luncheon -

The Memphis Area Association of Realtors named the recipients of its 2012 awards at its year-end luncheon Dec. 19 at the Hilton Memphis.

Leon Dickson Sr. of BenchMark at Southwind LLC was named 2012 Realtor of the Year.

21. Green Ballast Installs Lighting for Tenant in Lenox -

Healthcare Trust of America Inc., a Scottsdale, Ariz.-based Real Estate Investment Trust, has completed a lighting retrofit equipped with Memphis-based Green Ballast Inc.’s patented daylight harvesting fluorescent light ballasts for a Fortune 500 pharmaceutical tenant in Lenox Office Park, a seven-building, 72-acre office park in the 385 office submarket.

22. Green Ballast Installs Lighting for Tenant in Lenox Park -

Healthcare Trust of America Inc., a Scottsdale, Ariz.-based Real Estate Investment Trust, has completed a lighting retrofit equipped with Memphis-based Green Ballast Inc.’s patented daylight harvesting fluorescent light ballasts for a Fortune 500 pharmaceutical tenant in Lenox Office Park, a seven-building, 72-acre office park in the 385 office submarket.

23. Green Ballast Installs Smart Lighting for Belz -

Commercial real estate developer Belz Enterprises is installing vapor tight fluorescent fixtures with Green Ballast Inc.’s light ballasts in a structured parking garage facility in Memphis.

24. Belz' Hanover Inducted Into Peabody Hall of Fame -

Jerry Hanover, senior vice president at Belz Enterprises, was inducted into The Peabody Memphis’ Duck Walk Hall of Fame Thursday, Sept. 6.

25. Commercial Council Elects deWitt, Reilly as Top Leaders -

The Memphis Area Association of Realtors Commercial Council announced its 2013 officers and directors Thursday, Aug. 9, at its annual Member Appreciation and Election Party.

Greg deWitt of Grubb & Ellis Memphis will serve as 2013 president. Patrick Reilly of CB Richard Ellis Memphis will serve as vice president.

26. Dot-Com Moves Distribution To Memphis -

Wilsonville, Ore.-based LinenTablecloth.com has entered the Memphis industrial market, leasing 82,500 square feet at 3046 Datsun Drive for its new distribution center.

27. Retail Transformation -

Two of Loeb Properties Inc.’s larger retail centers in East Memphis are in the midst of major transformations.

28. LM Architecture Making Name for Itself in Industry -

Tim McCullough and Douglas Leininger founded Leininger McCullough architecture in September 2009 during the peak of the recession.

29. Slice of the Pie -

Come mid-July, local restaurateur Aldo Dean will launch Aldo’s Pizza Pies, his group’s third concept in Memphis and second in Downtown’s Central Business District.

Dean is one of three partners behind the new 3,900-square-foot restaurant on the ground floor of Henry Turley Co.’s Barboro Flats at 100 S. Main St. Adam Slovis of Slovis & Associates LLC represented Dean and his group in its seven-year lease for Aldo’s Pizza Pies.

30. MEPPI Files $155M Permit App For Rivergate Plant, Office -

2865 Riverport Road
Memphis, TN 38109

Permit Cost: $155 million

Permit Date: Applied June 2012

31. MEPPI Files $155M App to Build Production Facility -

Mitsubishi Electric Power Products Inc. has filed a massive permit application for the manufacturing facility it is building on Rivergate Road in Memphis’ southwest industrial submarket.

32. Colliers Duo Has Stellar Start to ’12 -

Colliers International’s industrial team of Andy Cates and Preston Thomas has closed on 34 transactions (sales and leases) to date in 2012. Here’s a rundown of some of the team’s most recent industrial transactions:

33. Pickering Projects Show Activity on Upswing -

If an uptick in engineering services is an economic indicator of recovery and stability, Memphis is progressing fairly well.

That’s the message Bob Pitts, principal at Pickering Firm Inc., shared to the Appraisal Institute of Memphis Wednesday, May 16, at Chickasaw Country Club. Pickering employs 150 engineers, scientists, architects and surveyors across six offices from its Memphis headquarters to the Gulf Coast.

34. Conn.-Based XSE Group Inks Deal -

A Middletown, Conn.-based office supply printing company has entered the local industrial scene, taking advantage of Memphis’ centralized logistical capabilities.

XSE Group Inc. has leased 40,214 square feet in Building 14 of Airport Distribution Center, 4006 Airpark St., owned by San Francisco-based ProLogis Inc.

35. Homes Part of North Memphis Revitalization -

Usually Self + Tucker Architects do the design work and planning for someone else who is the developer.

But in an open lot on the north side of Chelsea Avenue at Leath Street, seven single- family homes to come in the next year will be the architecture firm’s first steps into developing.

36. Thorpe Products Inks New Deal On Democrat -

Thorpe Products Co. is relocating its Memphis branch location to a site with higher ceiling heights and better proximity to its clients.

37. CRE Outlook Remains Mixed -

A sophomore at the University of Memphis could open up an economics book and explain how the United States got to its current state through the laws of demand, diminishing returns and comparative advantage.

38. CRE Outlook Remains Mixed -

A sophomore at the University of Memphis could open up an economics book and explain how the United States got to its current state through the laws of demand, diminishing returns and comparative advantage.

39. Grinding it Out -

After most recessions, real estate bounces back.

But the Great Recession has been notably different – long, deep and very prolonged.

That’s the message Dr. John Gnuschke, director of the Sparks Bureau of Business and Economic Research and co-director of the Center for Real Estate at the University of Memphis, delivered in December at the Urban Land Institute’s Real Estate Outlook for the Mid-South.

40. Bluff City Coffee Inks New Space -

Bluff City Coffee, the coffee and snack shop in Downtown’s South Main Historic Arts District, has recently unveiled some aggressive expansion plans.

The local eatery has leased a 3,000-square-foot kitchen in the Pembroke Building, 119 S. Main St., in the space behind the Center for Southern Folklore.

41. $125M Permit Application Filed for Mitsubishi Plant -

Mitsubishi Electric Power Products Inc. is moving forward with its plans for a transformer manufacturing facility at Rivergate Industrial Port.

42. $125M Permit Application Filed for Mitsubishi Plant -

Mitsubishi Electric Power Products Inc. is moving forward with its plans for a transformer manufacturing facility at Rivergate Industrial Port.

43. 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.”

44. Beyond Square One -

Memphis City Council’s approval for spending $16 million to improve Midtown’s Overton Square marked a milestone for neighborhood supporters, grassroots leaders and financial stakeholders – especially Loeb Properties Inc.

45. Belz Partnership Finances Shelby Oaks Warehouse -

A general partnership affiliated with Belz Enterprises has financed a warehouse on Shelby Oaks Drive.

BICO Associates GP filed a $1.7 million trust deed through First Tennessee Bank NA for a multi-tenant flex warehouse at 1650 N. Shelby Oaks Drive as well as three easements totaling 1.3 acres.

46. Colliers Signs Baker to First Site in Tenn. -

Colliers International’s industrial team of Andy Cates, Preston Thomas and Mike Driscoll has inked 63 transactions this year. Here’s a rundown on a flurry of recent deals the trio has brokered.

47. ULI Event To Tackle CRE Outlook -

Most commercial real estate markets have stabilized, but improvement in occupancies and rents won’t be as certain in 2012.

That’s the message real estate professionals will receive Tuesday, Dec. 6, when the Urban Land Institute District Council Memphis hosts its fifth annual Real Estate Outlook for the Mid-South at the Holiday Inn University of Memphis’ Tennessee Ballroom, 3700 Central Ave.

48. US Foods to Close Ky. Plant, Move Operations to Memphis -

US Foods, formerly U.S. Foodservice, is shuttering its Paducah, Ky., plant, with the services shifting to a recently expanded facility in Memphis.

The company had been leasing 175,000 square feet at 5900 Holmes Road in Hickory Hill, but announced in February plans to buy the building from Belz Enterprises and expand its operations to fill the entire 385,000 square feet.

49. Uptown Phase Two Gets Go Ahead -

After several delays, phase two of the plan for Uptown development cleared the Shelby County Commission Monday, Oct. 17.

But only after the commissioner whose district includes Uptown tried to shift the emphasis from continued development south of Chelsea Avenue moving west to new development north of Chelsea.

50. Taylor Appointed To Commission - CCHS Claims Family Planning Contract -

Former Memphis City Council member Brent Taylor is the newest Shelby County Commissioner.

Taylor, a Republican, won the District 1 Postion 3 seat vacated by Republican commissioner Mike Carpenter this month.

51. Substantial Deal Inked By Ontario-Based Manufacturer -

A substantial lease has been signed in a formerly distressed southwest Memphis industrial park that has made leaps and bounds since it was purchased by an out-of-town investor earlier this year.

KIK Custom Products, an Ontario-based manufacturer of national and retail brand consumer products, has signed a lease for 115,000 square feet in the Space Center Industrial Park, 265-353 Titan Drive.

52. Nike Adds 400K Square Feet To Local Portfolio -

The world’s largest maker of athletic gear has signed a lease in Memphis’ Southeast industrial submarket to handle its newly acquired NFL contract.

Nike Inc. inked a 400,000-square-foot warehouse lease in Centerpointe Distribution Center No. 1, 3461 E. Raines Road. Built in 1994, the property, owned by San Francisco-based Prologis Inc., features 38 dock doors and an 11,687-square-foot office space component.

53. Ga.-Based Coastal Logistics Signs Lease -

A budding Savannah, Ga.-based third-party logistics firm is expanding into the Southeast Memphis industrial market. Coastal Logistics Group Inc. has signed a new 50,000-square-foot lease at 5715 Distribution Drive.

54. MEPPI Buys Rivergate Park Acreage For Transformer Plant -

186.2 Acres In Rivergate Industrial Park
Sale Amount: $3.7 million
Sale Date: May 31, 2011

Buyer: Mitsubishi Electric Power Products Inc.
Seller: Belz Investco GP
Details: Warrendale, Pa.-based Mitsubishi Electric Power Products Inc. has bought three parcels in Rivergate Industrial Park from Belz Investco GP for $3.7 million. The deal closed May 31. The first parcel is 9.3 acres on the north side of Riverport Road (listed in the deed as Rivergate Road). It backs McKellar Lake, and the Shelby County Assessor of Property’s 2011 appraisal is $419,000. The second parcel is 63 acres on the south side of Riverport Road, appraised at $604,600. The third parcel is 113.9 acres on the north side of Riverport Road, wrapping around the 9.3-acre parcel and including an offshoot of McKellar Lake. Its 2011 appraisal is $769,600.
MEPPI announced in mid-February it would build a $200 million transformer manufacturing plant in Belz Enterprises Inc.-owned Rivergate Industrial Park.
In March, the Shelby County Commission and Memphis City Council each put in $1 million toward infrastructure financing for the project.

55. Mitsubishi Buys Land for Transformer Plant -

Warrendale, Pa.-based Mitsubishi Electric Power Products Inc. has bought three parcels in Rivergate Industrial Park from Belz Investco GP for $3.7 million. The deal closed May 31.

56. Rescue Groups Team Up to House Displaced Pets -

Wednesday morning for Mid-South animal responders began with the rescue of a domestic cat, one of roughly 40 local animals rescued from floodwaters since a coalition of rescue groups arrived in the Mid-South about two weeks ago.

57. Northeast Submarket Bolstered By Trio of Deals -

A handful of industrial deals in recent weeks hit Northeast Memphis in full force, significantly tightening the already solid submarket.

Mattress Firm has signed a 23,500-square-foot lease in Century Center, 1590 Century Circle, for a new retail and distribution space.

58. SRVS Files Construction Loan for New Headquarters -

3971 Knight Arnold Road
Memphis, TN 38118
Loan Amount: $3.3 million

Loan Date: March 22, 2011
Maturity Date: n/a
Borrower: Shelby Residential and Vocational Services Inc.
Lender: First Tennessee Bank NA

59. U.S. Foodservice Files $21M Building Permit -

A $21 million building permit application has been filed with the city-county Office of Construction Code Enforcement for the Memphis division of U.S. Foodservice Inc.

60. Commercial Council Has Shaped CRE Landscape -

The Memphis Area Association of Realtors’ Commercial Council is often the first trade organization that comes to mind when considering the local commercial real estate industry.

Something perhaps less commonplace, however, is the history of the group’s founders, and their vision to connect professionalism with the community.

61. Park Place Centre Financed for $7.4M -

Park Place Memphis LLC, a Loeb Properties Inc. affiliate that bought Park Place Centre from Belz Enterprises Inc. for $10.3 million in December, has financed the shopping center for $7.4 million through Thrivent Financial for Lutherans. The loan matures in April 2026.

62. YoLo in Midst of Targeted Growth Spurt -

In February 2010, Taylor Berger’s wife introduced him to the concept of self-serve frozen yogurt.

Within half a year, he and partner Mike McCaskill had opened two YoLo Frozen Yogurt stores – one in Collierville’s Historic Town Square and one in East Memphis in the Erin Way Shopping Center. By the end of this summer, the pair plan to have nine more up and running.

63. City Kicked Into ‘Overdrive’ to Lure MEPPI -

In February 2010, Memphis showed up in the No. 3 spot on that year’s ranking of “America’s Most Miserable Cities” by Forbes magazine.

It wasn’t publicly discussed at the time, but that undesirable attention also nearly spoiled Memphis’ effort to convince Mitsubishi Electric Power Products Inc. to build a transformer manufacturing plant here. Ultimately, Memphis won the plant. MEPPI announced in mid-February it would build the facility at Belz Enterprises Inc.-owned Rivergate Industrial Park.

64. New Plants Bode Well for Industrial Sector -

Although the overall commercial real estate market is soft, Memphis’ industrial sector appears to be gathering more steam than any other category.

With the arrival of such large projects like the Electrolux and Mitsubishi plants and Norfolk Southern Corp.’s new Fayette County intermodal yard, industry professionals hope ancillary business will bolster the industrial market by sparking new development, attracting new investors and enhancing the area’s economy.

65. Staples to Build First Memphis Location -

The world’s largest office products company will soon enter the Memphis market.

Framingham, Mass.-based Staples Inc. has signed a 17,945-square-foot lease at Ridgeway Trace, the shopping center at Poplar Avenue and Interstate 240 developed by Houston-based Weingarten Realty Investors.

66. Mt. Zion Upgrades to Larger Church in Frayser -

Two Memphis area churches have closed on a deal that’s been in the pipeline for about a year and a half.

Mt. Zion Baptist Church, 1280 Stonewall St., bought the 36,000-square-foot church at 1621 Dellwood Ave. in Frayser from Schoolfield United Methodist Church Inc. for $500,000.

67. Family Dollar Signs 2 Leases for Stores -

Family Dollar has signed a 12,000-square-foot lease at 2754 Lamar Ave. Shawn Massey, partner with The Shopping Center Group LLC, represented the tenant. Harold Blockman with Keller Williams Realty Inc. represented the landlord, Chong K and Dul S. Pae.

68. U.S. Foodservice to Stay in Hickory Hill -

The Memphis division of U.S. Foodservice Inc. has agreed to stay in Hickory Hill and not move to Olive Branch, Miss.

69. U.S. Foodservice to Stay in Hickory Hill -

The Memphis division of U.S. Foodservice Inc. has agreed to stay in Hickory Hill and not move to Olive Branch, Miss.

70. Chamber Preps Red Carpet for Mitsubishi -

The Greater Memphis Chamber has begun sending out invitations to an event Monday at The Peabody hotel at which a significant announcement will be made.

The invitations include the names of Tennessee Gov. Bill Haslam, Memphis Mayor A C Wharton Jr. and Shelby County Mayor Mark Luttrell. The invitations, which also suggest Memphis Grizzlies forward Rudy Gay will be in attendance, were sent out to public and private sector leaders Tuesday.

71. CRE Market’s Transition Fitting Parable for City -

A city’s commercial real estate market tends to mirror the local economy.

CRE, as the market is often abbreviated, can serve as barometer of sorts for an area’s business climate and also play a critical role in enhancing its economic development efforts.

72. Shifting Gears -

Memphis has long been a real estate town.

Family names like Belz, Boyle, Clark, Fogelman, Loeb, Snowden and Wilkinson – to name a few – have become synonymous not only with local commercial and industrial development but also with the city’s business fortunes and cultural identity.

73. Boyle Fund Pays $14M for Germantown Mall -

Boyle Investment Co. has made its first Memphis acquisition since setting up its Midsouth Capital Fund I LLC by acquiring a significant amount of Belz Enterprises Inc.’s interest in Germantown Village Square Shopping Center.

74. Eastgate Sells for $31.5 Million -

The Eastgate Shopping Center on Park Avenue in East Memphis has sold to a Dallas-based entity for $31.5 million from Belz Enterprises Inc., according to documents filed with the Shelby County Register of Deeds.

75. Eastgate Sells for $31.5 Million -

The Eastgate Shopping Center on Park Avenue in East Memphis has sold to a Dallas-based entity for $31.5 million from Belz Enterprises, according to documents filed with the Shelby County Register of Deeds.

76. What Happens Next -

Take a good look around you, Memphis.

The next 12 months have so much in store, almost anywhere a person looks – from the neighborhood school to the family doctor to office buildings Downtown to industrial space in South Memphis – the pace of change is likely to make 2011 one for the record books.

77. Menlo Deal Tops Noteworthy Leases -

The Daily News in September launched a new weekly column called “Inked” to spotlight Memphis’ commercial leasing landscape.

Despite tough times, local commercial real estate firms were able to ink plenty of deals in the past four months. Here’s a rundown of some of the most noteworthy commercial leases since Inked’s debut:

78. Moving Forward -

As the commercial real estate market remained soft in 2010, a handful of major deals – including some to close the year – indicated light at the end of the tunnel.

The year ended with the top retail investment sale of the year when Loeb Properties Inc. bought Park Place Centre from Belz Enterprises Inc. for $10.3 million.

79. Loeb Buys Park Place for $10.3M -

Loeb Properties Inc. has bought Park Place Centre from Belz Enterprises Inc. for $10.3 million – the biggest retail transaction of the year.

80. Loeb Buys Park Place for $10.3M -

Loeb Properties Inc. has bought Park Place Centre from Belz Enterprises Inc. for $10.3 million – the biggest retail transaction of the year.

81. Skyline Grows Local Footprint on Vantech Dr. -

Skyline Exhibits MidSouth is expanding its presence at East Pointe Business Center.

The St. Paul, Minn.-based tradeshow exhibits company renewed its 9,958-square-foot lease at 3895 Vantech Drive, Suite 9, and expanded into an additional 3,524 square feet. The additional space will enable Skyline to assemble and store exhibits for clients.

82. Circa Slated for Regalia Space -

Circa by John Bragg restaurant plans to open its East Memphis location at Regalia shopping center, Boyle Investment Co. recently announced.

83. Developers Run With Midtown Dunkin’ -

Editor’s note: “Inked” is a new column by real estate reporter Sarah Baker on Memphis’ commercial leasing landscape. It will appear each Friday in The Daily News and also in our weekly publication, The Memphis News.

84. Peabody Suites Stalled for Year or Longer -

It will be at least one more year before Belz Enterprises gets all the financing in place to move forward with Peabody Suites, a major transformation Belz envisions for the Peabody Place retail and entertainment center.

85. Mississippi LLC Buys Acreage West of Hwy. 61 -

Ensley Bottoms Farm LLC has bought seven parcels west of the intersection of Highway 61 from Belz Investco GP for $6.1 million. The purchase was financed with a $4.5 million loan through First Tennessee Bank NA.

86. Campbell Buying MRI From Semmes-Murphey -

Campbell Clinic plans to spend $778,843 for the MRI that Semmes-Murphey Clinic has in its first floor diagnostic center at The Memphis Professional Building, 1211 Union Ave.

87. EPA Adds Medtronic to Green Partnership -

Medtronic Spinal and Biologics, one of the city’s largest purchasers of green power, has been recognized by the Environmental Protection Agency for its commitment to purchase 600,000 kilowatt-hours annually of electricity generated by the sun, wind or methane gas.

88. Ohio-Based Company Buys Land Slated for Strayer University Campus -

7275 Appling Farms Parkway
Memphis, TN 38133
Sale Amount: $603,788

Sale Date: July 6, 2010
Buyer: Se Testa Memphis LLC
Seller: Belz Investment Co. LP

89. Cal Western Buys South Third Headquarters -

Vegetable oil packager and supplier Cal Western Packaging Co., working under the name HHTP Leasing Co. LLC, has bought its headquarters at 2070 S. Third St. from Union Realty Co. GP for $1.1 million.

90. Peabody’s Florida Expansion to Create Hundreds of Jobs -

The imminent opening of a $450 million expansion of The Peabody Orlando, one of several Peabody Hotels within the portfolio of Memphis-based Peabody Hotel Group, will bring with it the creation of hundreds of jobs.

91. Cotton Leads April’s Slow CRE Numbers -

Cotton was king of commercial real estate in April as transactions involving three merchants – a pair of longtime Memphis companies and one area newcomer – represented two of the month’s top sales.

92. Looking for Lift -

The Memphis Airport Area Development Corp., a nonprofit corporation dedicated to improving corridors and neighborhoods around the airport, has taken an important step toward fulfilling its mission.

93. Jeff Barry Joins Commercial Advisors As Senior V.P. -

Hometown: Memphis
Education: Memphis University School; Vanderbilt, B.S. in Economics; Vanderbilt, M.B.A.
Work experience: Belz Enterprises 1988-1990; Barry Properties LLC 1990-present; Commercial Advisors, present
Family: Wife, Amy; daughters, Kate and Ellie; son, Hall
Last book read: “Lonesome Dove”
Music: Bluegrass, Classical
Movies: “Braveheart,” “Sound of Music,” “To Kill a Mockingbird”
Sports team: Tigers Basketball
Activities you enjoy outside of work: Time with family, camping, hunting
What talent do you wish you had? Singing
Who has had the greatest influence on you? Mom, dad and Alice.
Why did you pursue a career in real estate? I think I received my dad’s “love of the land.” I also love working with people. The creative side of land development as well as the “deal” side of helping buyers and sellers on transactions is a good fit for me.
What have been your most rewarding professional accomplishments? Being able to work in a wide variety of land deals, ranging from subdivision development to buying and selling of farm and hunting land. Along with that, helping people realize their goals in those areas.
What do you most enjoy about your work? Being outside with people (i.e. NOT in the office).

94. American Snuff Files Permit for Improvements to Hickory Hill Property -

5106 Tradeport Drive
Memphis, TN 38115
Permit Amount: $3.2 Million

Project Cost: $3.2 million
Permit Date: Applied April 2010
Completion: TBA
Owner: American Snuff Co. LLC
Tenant: American Snuff Co. LLC
Contractor: N/A
Architect: N/A

95. Belz Sells Ramada for $1.3M -

Belz Investco GP, an affiliated company of Belz Enterprises, has sold the former Ramada Inn at 1585 Sycamore View near Bartlett for $1.3 million to an entity called Shree of Memphis LLC.

96. Local CRE Market Falters in February -

All the talk about commercial real estate’s doldrums is bolstered by Shelby County’s latest numbers, which underscore how much the sector is still hurting.

Because of tightened lending guidelines and companies’ hesitance to make real estate moves, the numbers continue to shrink with each month of the recession.

97. Mortgage Originator Not Consumed by Industry Woes -

The road Sam Goff took to his current position as mortgage originator at Evolve Bank and Trust has been a long and winding one, to say the least.

98. In-Rel Buys Former Comcast Building, Renames it “Quince Centre” -

6555 Quince Road
Memphis, TN 38119
Sale Amount: $5 million
Sale Date: Dec. 7, 2009

Buyer: 6555 Quince Building Owner LLC
Seller: BACM 2000-2 Quince Road LLC
Loan Amount: $3.1 million
Loan Date: Dec 7, 2009
Maturity Date: N/A
Lender: Insbank

99. Hubbard Named MAAR Realtor of the Year -

Regina Hubbard, a broker with Lester Hubbard Realtors, was named 2009 Realtor of the Year at the Memphis Area Association of Realtors’ honors luncheon, held Wednesday at the Holiday Inn-University of Memphis.

100. Findings Pinpoint Lamar Corridor’s Troubles -

Anyone who has traveled along Lamar Avenue between Interstate 240 and the Mississippi state line knows how congested it can get, with a seemingly endless line of trucks driving both directions and backing up traffic.
Members of the Greater Memphis Chamber’s aerotropolis initiative now have a better idea of the corridor’s horrendous deficiencies.
Cambridge Systematics Inc., a Cambridge, Mass.-based firm that studies transportation assets and needs nationwide, late last week presented the preliminary findings of its Lamar Avenue Corridor Study to the aerotropolis initiative’s access and transportation committee.
The message is clear and not at all surprising: Lamar Avenue has a host of problems that need to be resolved if Memphis wants to continue its role as a critical link in the global supply chain.
The study, which kicked off in the summer, is addressing traffic flows and transportation needs within the Lamar Avenue corridor – the area bordered by I-240 to the north, the Mississippi state line to the south, Interstate 55 to the west and Hickory Hill to the east.
Cambridge Systematics is conducting the study in conjunction with the Memphis Metropolitan Planning Organization, the University of Memphis’ Intermodal Freight Transportation Institute and the chamber.
The Tennessee Department of Transportation assigned Cambridge Systematics to the study following a request from MPO; TDOT has an ongoing contract with Cambridge Systematics to assist local planning organizations around the state.