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Editorial Results (free)

1. Clothes Mentor Sets Opening Date -

Clothes Mentor will open a Cordova location at the Commons at Dexter Lake March 20.

The women’s resale store chain based in Minnesota, which also has stores in Nashville and Clarksville, is leasing 5,000 square feet at 1717 N. Germantown Parkway, suite 101.

2. Clothes Mentor Sets Opening Date -

Clothes Mentor will open a Cordova location at the Commons at Dexter Lake March 20.

The women’s resale store chain based in Minnesota, which also has stores in Nashville and Clarksville, is leasing 5,000 square feet at 1717 N. Germantown Parkway, suite 101.

3. Butler Sevier Law Firm Expands Downtown -

Butler, Sevier, Hinsley & Reid PLLC law firm has expanded its presence at 88 Union Ave.

4. Belz Sells Shelby Oaks EnSafe Center for $910,000 -

5710-5730 Summer Trees Drive
Memphis, TN 38134
Sale Amount: $910,000

Sale Date: Jan. 10, 2014
Buyer: EnSafe Inc.
Seller: BICO Associates GP
Details: An affiliate of Belz Enterprises has sold the five-building Shelby Oaks EnSafe Center office complex on Summer Trees Drive in Northeast Memphis for $910,000.

5. Kroger-Anchored Centers Sell for Combined $41M -

Two Class A retail centers anchored by Kroger stores at 1605 N. Germantown Parkway and 540 S. Mendenhall Road have traded hands in an internal transfer for a combined $41.2 million.

6. Loeb Enjoying Strong Demand in East Memphis -

Pomp & Poise, a new gift store concept specializing in home and garden items, has signed a new lease at Park Place Center.

Pomp and Poise will occupy 1,400 square feet at the East Memphis retail center at the southwest corner of Park Avenue and Ridgeway Road.

7. I-Bank Grows in Namesake East Memphis Office Tower -

Independent Bank has expanded its headquarters at I-Bank Tower to primarily accommodate its Mortgage Lending Division.

8. 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.

9. HomeGoods Preps for Memphis Store -

Plans are under way for home décor retailer HomeGoods to enter the Memphis market in Cordova.

Metro Construction Inc. has filed a $950,000 building permit application with the city-county Office of Construction Code Enforcement for interior renovation of a former Samuels Furniture and Interiors at The Commons at Dexter Lake, 1615 N. Germantown Parkway, according to The Daily News Online, www.memphisdailynews.com.

10. Sylvan Relocates Learning Center -

Sylvan Learning is relocating its Memphis center to 1605 N. Germantown Parkway in the Commons at Dexter Lake.

11. Nissan North America Renews Lease In SE Shelby -

Nissan North America Inc. has renewed its 413,000-square-foot lease in Southeast Shelby County.

12. The Burger Joint Joins Ridgeway Trace -

Another national burger chain is setting up shop locally, except this one selected Memphis as its entrance into the Tennessee market.

BGR The Burger Joint is the latest tenant to join Ridgeway Trace Center, the 347,358-square-foot development at Poplar Avenue and Interstate 240 anchored by Target, Best Buy, PetSmart and Sports Authority.

13. Airport Hotel, Conference Center Sells for $4.4M in Foreclosure -

2240 Democrat Road
Memphis, TN 38132
Sale Amount: $4.4 million

Sale Date: July 22, 2011

14. Vieux Carre Retail Center Sells for $1.3 Million -

Vieux Carre Investments LLC has bought Vieux Carre, a neighborhood shopping center at 7981 Dexter Road, from Nancy S. Waddell for $1.3 million. The deal closed July 28.

15. Cordova Jason's Deli Financed for $1.1M -

Deliworx Building Partners LLC has filed two loans totaling $1.1 million for property at 1585 Chickering Lane through First National Bank of Oxford. The $935,000 and $157,123 loans are both dated June 2011, and both mature in June 2016.

16. 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.

17. 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.

18. 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.

19. Events -

The Palladio Group will hold its annual Christmas Open House Thursday through Saturday at Palladio, 2169 Central Ave. The open house will feature special events, artists, decorating demonstrations and guest exhibitors. For more information, visit www.thepalladiogroup.com.

20. Former Bennigan’s Set to be Razed -

5336 Poplar Ave.
Memphis, TN 38119
Permit Amount: $775,000

Project Cost: n/a
Permit Date: Applied August 2010
Completion: Late fourth quarter 2010
Owner: Danco
Tenant: Newk’s Express Café
Contractor: Fleming/Associates/Architects PC
Architect: Horizon Construction LLC

21. DPI Group Buys Back Yard Burgers on Germantown Parkway -

DPI Group, a California-based limited liability company, has bought a Back Yard Burgers property at 1685 N. Germantown Parkway from Back Yard Burgers Inc. for $725,000.

22. 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

23. Commercial Real Estate Hits Doldrums -

When it comes to trends, commercial real estate usually lags residential real estate, sometimes by as much as a year. So with the housing market showing its first signs of improvement during the last month or so, the commercial sector needs to prepare itself for a long, bumpy road to recovery.

24. Grand Island Files Permit For Mud Island Apartment Complex -

300 Grand Island Drive
Memphis, TN 38103
Permit Amount: $12.1 Million

Project Cost: $19 million
Permit Date: Applied November 2009
Completion: 2012
Owner: Grand Island Partners
Tenant: Grand Island
Contractor: Keith and David Grant Homes LLC
Architect: MMH Hall Architects and Planners Inc.

25. Cordova AT&T Store Sells for $2.4 Million -

An investment group known as Memphat Partnership has bought the AT&T store at 1684 N. Germantown Parkway in Cordova. The partnership paid $2.4 million for the 3,952-square-foot standalone building that was completed in 2008. The Class A structure sits on 0.74 acres along the east side of North Germantown Parkway.

26. CN’s $100M Renovation Draws to a Close -

Canadian National Railway Co. next week will unveil the three-year, $100 million renovation to its Johnston Yard freight car switching facility in South Memphis. The railroad will commemorate its massive investment of time and money on Sept. 24 at 11 a.m. at the yard, 297 Rivergate Road, off Horn Lake Road.

27. Commercial Real Estate Hangs on for Dear Life -

The pulse of commercial real estate is barely detectable, but the fact that it’s still registering a beat is remarkable considering the trauma it’s suffered over the past year.

From March 2008 through February 2009, commercial sales in Shelby County declined 35 percent compared to the prior 12-month period, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com.

28. Tight Credit Put Squeeze On ‘08 Commercial Real Estate Sales -

As with the residential sector, 2008 was a year to forget in commercial real estate, which suffered declining sales and endured a nationwide credit crunch throughout the year.

“The big storyline in ’08 was that lenders weren’t lending,” said Johnny Lamberson, senior vice president at CB Richard Ellis Memphis. “It put a real tightening on deals getting done. If deals weren’t highly leveraged, as the year went on it became harder and harder to get transactions closed because nobody was lending money.”

29. Newly Merged Renal Firm To Improve Poplar Ave. Building -

1333-1341 Poplar Ave.
Memphis, TN 38104
Permit Amount: $1.2 Million

Project Cost: $1.2 million
Permit Date: Applied December 2008
Completion: TBA
Owner: National Renal Alliance LLC
Tenant: National Renal Alliance LLC
Contractor: N/A
Architect: N/A

30. REIT Files $20.9M Loan on New Assets -

WRI HR Venture Properties I LLC, the real estate investment trust (REIT) that recently bought the Commons at Dexter Lake and Mendenhall Commons shopping centers, filed on Dec. 22 a $20.9 million deed of trust, assignment of leases and rents and security agreement for the properties through New York Life Insurance Co.

31. Commercial Real Estate Sales Down 18 Percent -

A familiar theme in the commercial real estate market continued in November as a couple of high-dollar transactions kept the month out of the doldrums. Not surprisingly, though, those numbers didn’t do much to salvage an otherwise dismal year.

32. Houston REITs Buy $42M Share In Local Shopping Centers -

A newly formed joint venture between Weingarten Realty Investors and Hines Real Estate Investment Trust (REIT), both of Houston, has bought a majority share of two local Kroger-anchored retail centers for a combined $41.6 million.

33. 62-Bed Alzheimer’s Facility Coming to Germantown - 3179 Professional Plaza
Germantown, TN 38138
Permit Amount: $5.6 Million

Project Cost: $5.6 million
Permit Date: Applied October 2008
Completion: October or November of 2009
Owner: Alexander Enterprises
Tenant: Alexander Enterprises
Contractor: Patton and Taylor Enterprises
Architect: O.T. Marshall Architects

Details: An Alzheimer’s facility called the Gardens of Germantown soon will rise at 3179 Professional Plaza, which runs between Poplar Avenue and Poplar Pike near the Germantown/Collierville border.

Developer Alexander Enterprises has filed a permit application with the city-county Department of Construction Code Enforcement to build the 30,500-square-foot, single-story facility. The Gardens of Germantown will be a 48-unit, 62-bed facility that sits on roughly half of a 4.36 acre-parcel backing up to the Village Shops of Forest Hill retail center. Beacon Communities Inc. of Cumming, Ga., will manage the facility.

Construction on the building, set to begin in December, should take 10 months, said Michael Alexander of Alexander Enterprises, with an opening projected for October or November 2009. The property has been divided into two lots, with the Gardens of Germantown slated for the northwest corner of the property.


1.46 Acres in Commons at Dexter Lake
Cordova, TN 38018
Loan Amount: $1.2 Million

Loan Date: Oct. 2, 2008
Maturity Date: April 22, 2009
Borrower: Commons at Dexter Lake LLC
Lender: First Citizens National Bank

Details: A $1.6 million retail center with a French Quarter motif is being built in Cordova. The Commons at Dexter Lake LLC has filed a $1.2 million construction loan to build a 10,400-square-foot retail center, dubbed Vieux Carré, south of Dexter Road and west of Chickering Lane. Construction started last week. The development team bought the land from John B. Maxwell Jr., trustee for the sellers, for $334,541 and filed the construction loan through First Citizens National Bank. Commons at Dexter Lake LLC principal Nancy Waddell signed the trust deed. The center will sit on a 1.46-acre parcel near the Commons at Dexter Lake retail center and the Reserve at Dexter Lake apartments. A spokesman for the developer said the seven-bay center already has five leases signed. Tenants include a Belle Meade salon, financial planner Martin Hearn, a Crown Trophy store and a florist/gift shop. Jeff Blackledge is architect for Vieux Carré. KT Construction LLC, whose partners are Scott Turnage and Riley Kail, will be the general contractor. Turnage said the company is “stripping the lot off right now and pushing hard for the first of the year” to complete the center. “We’re going to go for kind of a hybrid French Quarter style – we’re going to be doing more of a Bourbon Street look,” Turnage said. “It’s going to be a strip center, but we’re going to try to give each space individuality, using depth and height offsets to try to give each space somewhat of a unique appearance.” More retail space will be coming to the site soon.


6075 Winchester Road
Memphis, TN 38115
Sale Amount: $1.4 Million

Sale Date: Oct. 23, 2008
Buyer: World Overcomers Outreach Ministries Church Inc.
Seller: Carlyle Rock Ridge LLC
Loan Amount: $1.2 million
Loan Date: Oct. 24, 2008
Maturity Date: N/A
Lender: Tri-State Bank of Memphis

Details: World Overcomers Outreach Ministries Church Inc. has bought the Hickory Ridge Mall for $1.4 million from Carlyle Rock Ridge LLC. The roughly 500,000-square-foot Hickory Ridge Mall sits on 44 acres at 6075 Winchester Road in Hickory Hill. It was damaged by a tornado during the Feb. 5 storms that ripped through the southern and southeastern areas of town. World Overcomers will retain its congregational home at the former Central Church at 6655 Winchester Road, down the road from the mall. The church bought that property in 2001 for $10 million. Church pastor Alton Williams has announced plans to turn the mall into a Christian community center, replete with a restaurant, banquet hall, theater and other services for the neighborhood. The Hickory Ridge Mall opened in 1981 to much fanfare, but it steadily declined over the years as newer malls opened in other parts of town and tenants departed. The February storm proved to be a death knell for the mall. Although the city of Memphis considered buying it and turning it into a satellite office for city services, the renovation proved too costly.


...

34. New Orleans-Style Center Comes to Cordova - A $1.6 million retail center with a French Quarter motif is being built in Cordova. The Commons at Dexter Lake LLC has filed a $1.2 million construction loan to build a 10,400-square-foot retail center, dubbed Vieux Carré, at the southwest corner of Germantown Parkway and Dexter Road. Construction started this week.

The development team bought the land from John B. Maxwell Jr., trustee, for $334,541 and filed the construction loan through First Citizens National Bank. Commons at Dexter Lake LLC principal Nancy Waddell signed the trust deed.

The center will sit on a 9-acre parcel west of the Jason’s Deli off Dexter Road. The property is near the Commons at Dexter Lake retail center and the Reserve at Dexter Lake apartments.

A spokesman for the developer said the seven-bay center already has five leases signed. Tenants include a Belle Meade salon, financial planner Martin Hearn, a Crown Trophy store and a florist/gift shop.

Jeff Blackledge is architect for Vieux Carré. KT Construction LLC, whose partners are Scott Turnage and Riley Kail, will be the general contractor. Turnage said the company is “stripping the lot off right now and pushing hard for the first of the year” to complete the center.

“We’re going to go for kind of a hybrid French Quarter style – we’re going to be doing more of a Bourbon Street look,” Turnage said. “It’s going to be a strip center, but we’re going to try to give each space individuality, using depth and height offsets to try to give each space somewhat of a unique appearance.”

More retail space will be coming to the site soon.

Source: The Daily News Online & Chandler Reports


...

35. Bass Berry Starts Capitalizing on REITs -

The U.S. Congress created real estate investment trusts, or REITs, in the 1960s as a way to encourage real estate investment.

More than 40 years later, REITs are still a strong investment opportunity for people looking to diversify their portfolios, said Dr. Pankaj Jain, an assistant professor in the Fogelman College of Business and Economics' Department of Finance, Insurance and Real Estate at the University of Memphis.

36. Memphis Exodus? Not Exactly. -

The casual observer could be forgiven for looking at Shelby County as the black sheep in a family of eight counties, all of which are jockeying for attention and favor.

By some accounts, Shelby is antisocial (driving residents away with high taxes), irresponsible with money (letting debt accumulate) and generally adrift, at least when it comes to solving recurring issues like the cost of school construction, suburban sprawl and consolidation.

37. Cordova Retail CenterSells for $9.1 Million - WNI/Tennessee LP has purchased phase two of The Commons at Dexter Lake at 1713 Germantown Parkway from Westco Development No. 27 LLC for $9.1 million. The property, which sits on 7.86 acres near Dexter Road, was part of 17.39 acres Westco purchased a

38. Lakeland Reviews Planning Guidelines -

On the surface, it might seem strange that Scott Carmichael looks back to his 26 years as a sailor on a naval destroyer when he thinks about preparing for his current role as mayor of the city of Lakeland.

39. Archived Article: Real Recap - CLK Corp

CLK Corp. Refinances Farmington Gates, Ridgeway Commons

2216 Brierbrook Road

Germantown, TN 38138

Cost: $8.8 million

Borrower: 1704 Farmington Gates LLC, 1711 Farmington Gates LLC and 1685 Farmington Gates LLC

Lender: Bank...

40. Archived Article: Gov Focus - By Andy Meek

Plans Move Forward on Dexter Development

ANDY MEEK

The Daily News

Kemmons Wilson Inc. is making plans to bring a 108-unit townhouse development to Germantown.

The Oaks at Dexter Planned Development, to be built on about 2...

41. Archived Article: Daily Digest - Dexter Lake Lots

Dexter Lake Lots

Sell for $1 Million

VDS Development LLC has purchased two lots in phase three of the Commons at Dexter Lake Planned Development for $1 million, according to The Daily News Public Records Database, www.memph...

42. Archived Article: Newsmakers - Realtors Association Announces President, Board

MAAR Confirms Officers, Board Members The Memphis Area Association of Realtors confirmed president-elect Bob Turner as 2004 president and elected Sue Stinson-Turner as 2004 president-elect. Neil Hub...

43. Archived Article: Real Focus - By JENNIFER MURLEY Savvy tenants find deals in competitive multifamily market By JENNIFER MURLEY The Daily News Although Memphis first quarter multifamily housing market closed on a strong note with increasing occupancy and stable rental rates, subu...

44. Archived Article: Maa Page 2 - Mid-Americas 2002 first quarter earnings exceed expectations Mid-Americas 2002 first quarter earnings exceed expectations Memphis-based Mid-America Apartment Communities, Inc. announced Wednesday earnings for the first quarter of this year had excee...

45. Archived Article: Real Review - Energy crunch Energy crunch to push rents higher Increasing utility rates, especially in areas such as California, will cause rent increases when leases are renewed, according to findings presented at a property management forum at the National Asso...

46. Archived Article: Maa P.2 - MAAC funds increase for 2000 MAAC funds increase for 2000 Mid-America Apartment Communities announced funds from operations of 71 cents per share for the fourth quarter ending Dec. 31, 6 percent above the comparable quarter a year earlier. For 2000,...

47. Archived Article: Real Briefs - Several Mid-America Apartments communities recently earned recognition for beautification and landscaping from numerous indepe Several Mid-America Apartments communities recently earned recognition for beautification and landscaping from numerous in...

48. Archived Article: Bonnie Lane (lead) - By LAURIE JOHNSON Shopping center next addition for Bonnie Lane office project By LAURIE JOHNSON The Daily News The foundation is set to be poured Monday for a shopping center that will anchor Bonnie Lane Office Centre in Cordova. The 31,000-square-...

49. Archived Article: Marketplace (reits) - While stock markets continue roller coaster rides wild enough to send even the most confirmed investor into a selling frenzy, one investment strategy on the backburner since 1998 is beginning to post better numbers in 2000 REIT rebounding in 2000, u...

50. Archived Article: Maa P.2 - MAA inks $45 million loan MAA secures $45 million loan At its annual meeting Thursday at the Reserve at Dexter Lake development, Mid-America Apartment Communities announced it has closed a $45 million loan with Fannie Mae and also secured approval o...

51. Archived Article: Real Review - Construction is underway on three new phases that will add a total of 181 new homes in the residential development of Riverwood Farms in Cordova Developer breaks ground for new homes in Cordova Construction is underway on three new phases that will ...

52. Archived Article: Midamerica P.2 - Mid-America marks higher first quarter earnings Mid-America posts higher first quarter earnings Mid-America Apartment Communities Inc. announced funds from operations for the first quarter as 71 cents per share, 6.2 percent above the fourth quarter ...

53. Archived Article: Apartments - By SUZANNE THOMPSON Apartment values up through third quarter By SUZANNE THOMPSON The Daily News During the first three quarters of 1999, the total value of new apartment construction increased 42.7 percent to $35.4 million from $24.8 million during...

54. Archived Article: Real Review - Real Review 08-31-99 By LAURIE JOHNSON The Daily News Memphis newest Best Western Hotel is scheduled to open in February at 3105 Millbranch Road in Whitehaven. The new hotel is expected to draw most of its business from the Memphis International Air...

55. Archived Article: 2qapts - Apartment construction Apartment construction booms in second quarter By KATHLEEN BURT The Daily News The second quarter of the year poises 1999 to be a good one for apartment construction in Memphis and Shelby County. Due to two big projects that g...

56. Archived Article: Apartments - By SUZANNE THOMPSON Second phase of Cordova apartment complex in full swing By SUZANNE THOMPSON The Daily News The second phase of The Reserves at Dexter Lake apartments is underway. Construction on the 252 units in Phase I was completed in April, a...

57. Archived Article: 1qapts - Apartment construction Apartment construction surges in Downtown By KATHLEEN BURT The Daily News Although the first quarter of 1999 lagged behind its predecessor in the number of permits filed for new apartment construction, several projects could m...

58. Archived Article: Lucb Lj - By LAURIE JOHNSON LUCB approves Orgill Building penthouses By LAURIE JOHNSON The Daily News Proposals for penthouses atop the Orgill Building, office buildings, a retail center, a branch bank and a landscape and nursery firm were among projects give...

59. Archived Article: Real Briefs - Chickasaw Oaks Plaza has gained four new merchants Chickasaw Oaks Plaza has gained four new merchants. I.D. Collection and Ainsley Hall Antiques & Gifts, both interior design shops, florist Galerie Des Fluers and the Kitty Kyle Kollection, a fas...

60. Archived Article: Gov't Meet - Several new applications will be considered today at the regular monthly meeting of the Memphis and Shelby County Land Use Control Board Hotel, houses top Land Use agenda By Kathleen Burt THE DAILY NEWS Several new applications will be considered to...

61. Archived Article: Dexter Lake - Leasing is about to begin at a large apartment complex in Cordova Leasing set to begin at Reserve at Dexter Lake in Cordova By KATHLEEN BURT The Daily News Leasing is about to begin at an apartment complex underway in Cordova. The Reserve at Dexter ...

62. Archived Article: Apartment (lead) - Apartment construction starts and completions up for first quarter Apartment starts up slightly in first quarter By DIANNA DEAREN The Daily News Apartment construction starts increased in the first quarter compared to the same period in 1997, from o...

63. Archived Article: Commons - By SUZANNE THOMPSON Construction underway on Cordova apartment complex By SUZANNE THOMPSON The Daily News Mid-America Apartment Communities has started construction on the Commons at Dexter Lake, an 11-building apartment property at 1501 Germantown ...

64. Archived Article: Flood Study Chg - Shelby County mayor Jim Rout announced Wednesday the formation of the Memphis Metropolitan Study Steering Committee and appointed 23 people to guide development of an $850,000 plan to prevent flooding in a five-county area Committee to guide flood p...

65. Archived Article: Dexter Commons Lj - lj 10/5 cates Construction begins on $20 million shopping center in Cordova By LAURIE JOHNSON The Daily News Weston Cos. has broken ground on a $20 million community shopping center at the southwest corner of Dexter Road and Germantown Parkway in Co...

66. Archived Article: Chg Cordova Apts - apartments Cordova/Germantown Apartment building on the rise in Cordova Apartment construction in Cordova increases By CAMILLE GAMBLE The Daily News Apartment construction in the Cordova/Germantown area is on the rise, and some developers fear the m...

67. Archived Article: Real Review Lj - lj 10/5 cates Real Review Market Commentary. During the week ahead, several announcements will have an impact on the mortgage market, according to Albert Santi, branch manager of Signet Mortgage. His prediction: rates will remain unchanged to slight...