Memphis City Council members take their first steps Tuesday, May 7, toward approving a city operating budget and property tax rate for the fiscal year that begins July 1.

The council meets at 3:30 p.m. at City Hall, 125 N. Main St.

2. New York Company Buys Country Squire for $49.2 Million - Tuesday, April 09, 2013

8056 Country Squire Lane Cordova, TN 38018

Sale Amount: $49.2 million

Sale Date: March 28, 2013

3. New York Company Buys Country Squire for $49.2 Million - Thursday, April 04, 2013

An affiliate of New York-based NorthStar Realty Finance Corp. has paid $49.2 million for the 972-unit Country Squire Apartments in Cordova.

4. Panther Properties Buys Two Cordova Apartments - Tuesday, April 02, 2013

2350 N. Houston Levee Road and 2323 N. Houston Levee Road

5. Panther Properties Buys Two Cordova Apartments - Monday, April 01, 2013

Woburn, Mass.-based Panther Properties Investment LLC has bought a pair of Cordova apartment complexes – the Villas at Grays Creek and the Carrington at Houston Levee – for a combined $44.8 million.

6. Hickory Hill Warehouse Sells for $15.7 Million - Tuesday, December 11, 2012

6380 Holmes Road Memphis, TN 38141

Sale Amount: $15.7 million

Sale Date: Dec. 5, 2012

7. Rheumatology Clinic Buys Germantown Office Building - Tuesday, November 27, 2012

7660 Poplar Pike Germantown, TN 38138

Sale Amount: $986,850

Sale Date: Nov. 14, 2012

8. California Investor Buys Apartments for $25.5 Million - Wednesday, November 21, 2012

Torrance, Calif.-based Arenda Capital Management LLC has bought its second Memphis-area multifamily property this year, paying $25.5 million for the Grove at Trinity Pointe apartments at 555 Wood Arbor Parkway in Cordova.

9. Corporate Avenue Building Sells for $1.2 Million - Tuesday, November 06, 2012

1721 Corporate Ave. Memphis, TN 38132

Sale Amount: $1.2 million

Sale Date: Oct. 26, 2012

10. Former Mall Acreage to be Industrial Development - Tuesday, April 24, 2012

Acreage on Former
Mall of Memphis Site

Sale Amount: $2.7 million

Sale Date: April 18, 2012

Buyer: Memphis Industrial Properties LLC

11. Waterford Place Apts. Sells for $21.5 Million - Monday, April 23, 2012

The 320-unit Waterford Place Apartments in Southeast Shelby County has sold for $21.5 million, $3 million more than an entity affiliated with special service lender LNR Partners LLC paid for it at a May foreclosure sale.

12. Villas at Cordova Sells for $19.3M - Friday, April 20, 2012

Los Angeles-based investment fund QVT Mount Auburn Capital LP, working under the name Memphis Villas LLC, has bought The Villas at Cordova apartments for $19.3 million – $5 million more than the complex sold for in foreclosure last year.

13. Colonnade at Germantown Sells for $23 Million - Tuesday, April 17, 2012

7491 Wyndhurst Place or 7455 Wolf River Blvd.
Germantown, TN 38138

14. Sentinel Buys G'town Apts. for $23.1 Million - Monday, April 16, 2012

New York-based Sentinel Real Estate Corp., working under the name VA Germantown LLC, has bought The Colonnade at Germantown apartments for $23.1 million from DMARC 2006-CD2 Wyndhurst Place LLC, an entity affiliated with Miami-based special service lender LNR Partners LLC.

15. Cordova Presbyterian Plans to Build on Fay Road - Tuesday, April 10, 2012

8707 Fay Road
Cordova, TN 38018

Permit Cost: $2 million

Permit Date: Applied March 2012

16. Catholic Charities Hosts Refugee Food Distribution - Friday, March 30, 2012

Catholic Charities of West Tennessee will host its second annual Holy Thursday Rice Distribution for Refugee Families Thursday, April 5, at 10 a.m. in the common area of the Woodcrest Apartments, 170 N. Hollywood.

17. $1.5 Million Loan Filed For Future Vantage Point Golf - Tuesday, March 06, 2012

Future Vantage Point Golf Center

Loan Amount: $1.5 million

Loan Date: Feb. 28, 2012

Maturity Date: March 1, 2037

Borrower: Vantage Point Holdings LLC

18. Tried and True - Thursday, February 02, 2012

For 100 years, Palmer Brothers Inc. has operated in a conservative manner with repeat business from clients that share the same philosophy.

19. Real Estate Pros Figuring Out New Reality - Monday, January 30, 2012

The real estate market isn’t projected to get back to the pre-bubble bursting days of 2007 anytime soon.

It’s part of the new reality that agents across the board are coping with, and it was the heart of the discussion Thursday, Jan. 26, when real estate information company Chandler Reports hosted its “Master Your Market: 4th Quarter 2011 Update.”

20. Tennessee St. Office Bldg. Again in Foreclosure - Tuesday, January 10, 2012

460 Tennessee St.
Memphis, TN 38103

Sale Amount: $3 million

Sale Date: Dec. 1, 2011

21. Harbor Town Apts. Sell For $31.5M - Friday, December 23, 2011

Dallas-based Behringer Harvard has acquired the Arbors Harbor Town Apartments – a 345-unit multifamily community in Harbor Town on Mud Island – for $31.5 million, or $91,304 per unit.

22. ‘Get In and Out’ - Monday, December 19, 2011

In a local commercial real estate market where prices have plunged as much as 40 percent from 2007 peaks, special service companies are taking advantage of opportunities for buying distressed debt.

23. Cordova's Stonebridge Apartments Sells for $22M - Wednesday, December 14, 2011

A joint venture between Merion Realty Partners and an affiliate of AllianceBernstein U.S. Real Estate Partners LP has bought Stonebridge Apartments from CMS Stonebridge LLC for $21.9 million as part of a 20-property multifamily portfolio purchase the companies announced in October.

24. LNR Buys Warehouse at 3615 Lamar - Tuesday, December 13, 2011

FUCMS 2001-C2 Lamar Industrial LLC, an entity affiliated with Miami-based loan servicer LNR Partners LLC, has bought a warehouse at 3615 Lamar Ave. at a foreclosure auction for $1.6 million after borrower 3615 Lamar Partners LLC defaulted on a $3.7 million loan backed by the property. The limited liability company took out that loan through First Union National Bank in February 2001.

25. LNR Buys Germantown Apartments for $17.1M - Tuesday, December 13, 2011

7491 Wyndhurst Place or
7455 Wolf River Blvd.
Germantown, TN 38138

26. LNR Partners Buys Germantown Apts. - Wednesday, December 07, 2011

DMARC 2006-CD2 Wyndhurst Place LLC, an entity affiliated with Miami-based LNR Partners LLC, has bought Oakwood temporary housing apartment complex at 7455 Wolf River Blvd. in Germantown at a foreclosure sale for $17.1 million.

27. Pizza Eatery Expands Into Southaven - Friday, December 02, 2011

A husband and wife team from Hernando is expanding its pizzeria business into Southaven.

David J. and Melissa A. Pippin, owners of Three Guys Pizza Pies, have signed a 3,050-square-foot lease in the Shops of DeSoto Center, 1046 Church Road.

28. Cross Creek Shopping Ctr. Sells for $12.7 Million - Tuesday, November 22, 2011

3469 Riverdale Road, 3505 Riverdale Road and 3587 Riverdale Road
Memphis, TN 38115
Sale Amount: $12.7 million

29. Cross Creek Shopping Center Sells for $12.7 Million - Thursday, November 17, 2011

Commack, N.Y.-based Allied Development of Memphis LLC has bought Cross Creek Shopping Center for $12.7 million.

30. Germantown Station Closer to Construction - Tuesday, October 18, 2011

750 N. Germantown Parkway
Cordova, TN 38018
Loan Amount: $2.6 million

31. Airport Hotel, Conference Center Sells for $4.4M in Foreclosure - Tuesday, August 16, 2011

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

Sale Date: July 22, 2011

32. Waterford Place Apartments Sells in Foreclosure for $18.2M - Thursday, August 11, 2011

Waterford Place Apartments at 8037 Waterford Circle in Southeast Shelby County’s 38125 ZIP code has sold for $18.2 million in a substitute trustee’s sale following a foreclosure. The complex sold May 11 but wasn’t recorded by the Shelby County Register of Deeds until this week.

33. Plans Move Ahead For Cordova Staples - Tuesday, August 09, 2011

1.7 acres in
Galleria of Memphis
Sale Amount: $850,000

Sale Date: July 26, 2011

Buyer: TN Cordova Germantown LLC

34. Villas at Cordova Complex Sells for $14.2M in Foreclosure - Tuesday, July 26, 2011

8546 Prestine Loop
Cordova, TN 38018
Sale Amount: $14.2 million

Sale Date: May 11, 2011

35. LensRentals.com Moves Into Trinity Ridge - Friday, July 22, 2011

A local camera- and lens-rental company is expanding into a significant amount of space in the already tight Northeast submarket.

LensRentals.com has signed a 16,800-square-foot lease in Cordova’s Trinity Ridge Business Center, 7730 A Trinity Road, suite 110.

36. Villas at Cordova Sells for $14.2M - Thursday, July 21, 2011

The Villas at Cordova apartment complex at 8546 Prestine Loop in Cordova has sold in a substitute trustee’s deed following a foreclosure for $14.2 million.

37. MC Ionic Solutions US Begins Work on Fite Rd. Site - Tuesday, July 19, 2011

2665 Fite Road
Memphis, TN 38127
Permit Amount: $1.3 million

Permit Date: Applied July 2011

38. $3 Million in Permits Filed For Hacks Cross Buildings - Tuesday, June 28, 2011

3152 Hacks Cross Road and
3168 Hacks Cross Road
Permit Amounts: $1.4 million (3152 Hacks
Cross); $1.6 million (3168 Hacks Cross)

39. Global Ministries Foundation Buys Three Apt. Complexes - Thursday, June 23, 2011

Entities affiliated with Cordova faith-based nonprofit organization Global Ministries Fellowship have bought three Memphis apartment complexes this month.

GMF-Warren/Tulane LLC has bought the Warren Apartments complex (1340 Clementine Road) and Tulane Apartments complex (4717-4787 Tulane Road) for a combined $9.5 million from a trio of Rapid City, S.D.-based entities. Meanwhile, GMF-Madison Tower LLC bought Wesley Madison Towers (381-383 Madison Ave.) from Seattle-based Wesley Madison Towers Limited for $2.7 million.

40. Multifamily Sector ‘Poised for Solid Growth’ - Tuesday, May 24, 2011

Multifamily investment activity in Memphis continues to gain steam as lenders slowly loosen their purse strings.

The positive sales activity is being propelled by the market’s improved performance, low interest rates and additional capital coming off of the sidelines after being quiet for the last few years.

41. Ridgeway Trace’s Success Fills ‘Huge Void’ - Monday, May 16, 2011

A dramatic change to the retail landscape in East Memphis began in February of 2005 with one phone call.

Danny Buring, managing partner of The Shopping Center Group, made that call to the owner of the Ridgeway Trace Apartments, located on the southeast corner of Poplar Avenue and Interstate 240.

42. FedEx Files $10.8M Permit For Demolition Work - Tuesday, April 19, 2011

2781 Democrat Road
Memphis, TN 38118
Permit Amount: $10.8 million

Permit Date: Applied April 2011
Owner: FedEx
Tenant: FedEx
Contractor: Flintco Inc.

43. Infinity Real Estate Buys Office Building for $1.2 Million - Tuesday, March 08, 2011

5100 Sanderlin Ave.
Memphis, TN 38117
Sale Amount: $1.2 million

Sale Date: Feb. 16, 2011
Buyer: Infinity Real Estate LLC
Seller: Blanchard E. Tual, successor trustee of the Don Wallace Morgan Family Trust created under the last will and testament of Don Wallace Morgan dated Dec. 8, 2003, and Mary Katherine Fouts and Douglas A. Garner, co-trustees of the Fouts Estate Family Trust created under the last will and testament of Jimmie Darrell Fouts dated June 15, 2005
Loan Amount: $1.3 million
Loan Date: Feb. 16, 2011
Maturity Date: Feb. 16, 2026
Lender: First Tennessee Bank NA

44. Foreign Investors Buy Treasure Park Apartments - Tuesday, February 15, 2011

2601 N. Watkins St.
Memphis, TN 38127
First Sale: $1.1 million

Sale Date: Jan. 31, 2011
Buyer: City National Bank
Seller: Federal Deposit Insurance Corp. as receiver for Imperial Capital Bank of La Jolla, Calif.
Second Sale: $450,000
Sale Date: Jan. 28, 2011
Buyer: Square Mile Investments LLC
Seller: City National Bank
Details: A foreign investment group named Square Mile Investments LLC has bought Treasure Park Apartments at 2601 N. Watkins St. in Frayser from City National Bank for $450,000.
Details: A foreign investment group named Square Mile Investments LLC has bought Treasure Park Apartments at 2601 N. Watkins St. in Frayser from City National Bank for $450,000.

45. Pushing Up and Ahead - Monday, January 17, 2011

Fresh off a year capped by major office deals and new leadership atop the development agency that oversees it, it’s already clear the story of Downtown Memphis in 2011 will be dominated by forward momentum.

46. Apartment Optimism - Thursday, December 30, 2010

Apartment owners and operators in the Memphis market forecast a bright 2011, boosted by a continued weak homebuying landscape and a lack of new multifamily product coming online within the market.

“2010 was certainly an improvement for the multifamily sector – both in operations and in sales – over 2009, and we expect to see more of the same next year,” said Blake Pera, senior vice president of CB Richard Ellis Memphis’ multifamily division. “Most operators experienced comfortable revenue growth throughout the year, and there is some positive momentum in continued stable occupancy and concession burn-off next year with the lack of new supply hitting the market.”

47. Winbranch Apartments Sell for $2.4 Million - Tuesday, September 21, 2010

3595 Millbranch Road
Memphis, TN 38116
Sale Amount: $2.4 million

Sale Date: Sept. 7, 2010
Buyer: Winbranch Realty Partners LLC
Seller: LBUBS 2004-C4 Millbranch Road LLC
Loan Amount: $975,000
Loan Date: Sept. 7, 2010
Maturity Date: Sept. 1, 2011
Lender: The Leshum Group LLC

48. Kroger to Build Store In Poplar Plaza - Tuesday, September 14, 2010

3444 Plaza Ave.
Memphis, TN 38111
Permit Amount: $10 Million

Project Cost: n/a
Permit Date: Applied September 2010
Completion: n/a
Owner: Kroger, Delta Division
Tenant: Kroger
Contractor: n/a
Architect: n/a

49. Gill Enterprises Sells Land to CVS for Cordova Pharmacy - Tuesday, August 03, 2010

786 N. Germantown Parkway
Cordova, TN 38018
Sale Amount: $2.2 Million

Sale Date: July 28, 2010
Buyer: CVS 6628 TN LLC
Seller: Gill Enterprises GP

50. Q2 Foreclosures Hold Steady - Thursday, July 15, 2010

Shelby County foreclosures increased slightly in the second quarter (April through June) compared to Q2 2009 but declined from the first quarter of 2010.

There were 1,384 properties seized in Q2, up 2 percent from 1,353 in Q2 2009 and down 4.3 percent from 1,446 in Q1, according to quarterly figures from real estate information company Chandler Reports, www.chandlerreports.com.

51. Ohio-Based Company Buys Land Slated for Strayer University Campus - Tuesday, July 13, 2010

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

52. New York Company Buys Gardenwood Apartments - Tuesday, June 01, 2010

4975 Hoover Drive
Memphis, TN 38128
Sale Amount: $2.9 Million

Sale Date: May 17, 2010
Buyer: Gardenwood Apartments LLC
Seller: Bank of America NA
Loan Amount: $2.2 million
Loan Date: May 17, 2010
Maturity Date: N/A
Lender: Bloomfield Capital Partners Fund III LLC

53. Cotton Leads April’s Slow CRE Numbers - Tuesday, May 25, 2010

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.

54. Preserve Auction Adjourned to May 28 - Friday, April 30, 2010

Friday’s scheduled auction of the Preserve at Southwind Apartments near Hacks Cross and Tenn. 385 in Southeast Shelby County has been adjourned to May 28 at noon.

The 306-unit complex will be auctioned to the highest bidder on the Shelby County Courthouse steps in a substitute trustee’s sale due to a foreclosure.

55. Schoolhouse Shuffle - Monday, April 26, 2010

On a cold February morning, a group of excited parents clustered in a tent in back of Kate Bond Elementary School.

56. Despite Slight Uptick, March Numbers Show Struggling Market - Tuesday, April 20, 2010

Shelby County’s commercial real estate market is doing what it can to hold steady amid a crumbled economy.

March saw 53 CRE sales, a 4 percent increase from 51 sales in March 2009 and 61 percent increase from 33 in February, according to the latest information from real estate information company Chandler Reports, www.chandlerreports.com.

57. Tricky Market - Tuesday, April 13, 2010

Because loan defaults are a common occurrence in this difficult financial climate, last week’s news that the 306-unit Preserve at Southwind Apartments had been foreclosed could easily be chalked up to a case of “another one bites the dust.”

58. Southwind Apartment Complex Foreclosed - Friday, April 09, 2010

The 306-unit Preserve at Southwind Apartments near Hacks Cross Road and Tenn. 385 in Southeast Shelby County has been foreclosed and will be sold on the Shelby County Courthouse steps, according to a notice on Page 37 of today’s print edition of The Daily News and also at The Daily News Online, www.memphisdailynews.com.

59. Local CRE Market Falters in February - Tuesday, March 16, 2010

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.

60. Commercial Sales Close 2009 on High Note - Thursday, January 21, 2010

Shelby County’s commercial real estate market saved its best for last in 2009, as the final month registered the highest sales total and largest dollar volume all year.

Not only that, but December marked the first year-over-year increase for a month during 2009 and the first year-over-year increase for a month since December 2007.

61. Multifamily Survives Q4, Year - Thursday, January 14, 2010

The fourth quarter of 2009 proved to be a decent period for the local multifamily industry during an otherwise lackluster year. Though some market trends remained relatively unchanged from third quarter, the apartment sector enjoyed a rush of investment sales as more investors pulled the trigger on deals.

62. Conwood Acquisition Helps Salvage November Commercial Sales - Thursday, December 24, 2009

A single, high-dollar transaction helped salvage November’s commercial sales total, accounting for half of the dollar volume last month. Beyond that, the most noteworthy trend to arise from the most recent data was a dearth of activity as Shelby County nears the end of 2009 – the slowest year for commercial transactions in at least two decades.

63. In-Rel Buys Former Comcast Building, Renames it “Quince Centre” - Tuesday, December 22, 2009

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

64. Grand Island Files Permit For Mud Island Apartment Complex - Tuesday, December 01, 2009

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.

65. Cedar Ridge Owner Files $2.8 Million Loan - Thursday, November 19, 2009

The owner of the Cedar Ridge Patio Homes apartment complex at 6957-6977 Amberly Village Drive near Cordova has filed a $2.8 million multifamily deed of trust, assignment of rents and security agreement through Magna Bank. Cedar Ridge LLC, the limited liability company that owns the complex, filed the loan Nov. 13.

66. High-Dollar Deal Boosts Commercial Real Estate - Tuesday, October 27, 2009

Following what has become a pattern, the local commercial real estate market in September was salvaged by one large deal that offset an otherwise dreary month.

This time it was Resource Real Estate Inc. to the rescue. The Philadelphia-based company bought the Wyndridge Apartments for $9.5 million Sept. 29 and carried the weight for Shelby County’s commercial activity during the month.

67. Riviana Continues Work On Rice Processing/Distribution Plant - Tuesday, June 16, 2009

2371 Prospect St.
Memphis, TN 38106
Permit Amount: $3.5 Million

Project Cost: $67 million
Permit Date: Applied June 2009
Completion: 2010
Owner: Riviana Foods Inc.
Tenant: Riviana Foods Inc.
Contractor: Linkous Construction Co. Inc.

68. Cordova Apartment Owners Challenge Years-Old Annexation - Wednesday, May 20, 2009

A legal challenge to a city annexation ordinance from the 1990s is headed for a September trial date.

The lawsuit by a group of Cordova-area apartment owners asks a judge to void the ordinance that annexed Countrywood and Eads into the city of Memphis. It contends the ordinance violated the state’s open meetings law and seeks years of back tax money.

69. Modular Energy Plant To Be Installed at Le Bonheur - Tuesday, April 21, 2009

905 Poplar Ave.
Memphis, TN 38105
Permit Amount: $13.6 Million

Project Cost: $327 million
Permit Date: Applied April 2009
Completion: 2011
Owner: Methodist Le Bonheur Healthcare
Tenant: Methodist Le Bonheur Healthcare
Contractor: Skanska USA
Architect: FKP Architects

70. Commercial Real Estate Hangs on for Dear Life - Friday, March 20, 2009

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.

71. John Daly’s Home Foreclosed, Sold on Courthouse Steps - Tuesday, March 03, 2009

9844 Legends Drive
Germantown, TN 38139
Sale Amount: $1.2 Million

Sale Date: Feb. 5, 2009
Buyer: Regions Bank
Seller: J. Phillip Jones, Substitute Trustee

72. Memphis Multifamily Experiences Mixed Results - Monday, February 23, 2009

The Memphis multifamily market is garnering mixed reviews as analysts reflect on a relatively stable 2008 while projecting a potentially turbulent 2009.

Though the apartment sector didn’t fare as poorly as office and retail last year, it did endure a host of downward trends, from occupancy to construction to absorption, according to year-end data from the multifamily division of CB Richard Ellis Memphis.

73. Loan Filed for Phase Two Of Centennial Gardens Apartments - Tuesday, January 27, 2009

7751 Centennial Drive
Memphis, TN 38125
Loan Amount: $11.5 Million

Loan Date: Jan. 15, 2009
Maturity Date: Jan. 15, 2013
Borrower: Lightman Centennial Gardens Co.
Lender: SunTrust Bank

74. Building Permit Filed For General Washburn Apts. - Tuesday, January 20, 2009

56 S. Main St.
Memphis, TN 38103
Permit Amount: $5.7 Million

Project Cost: $8 million
Permit Date: Applied January 2009
Completion: Fall 2009
Owner: Downtown Developers LLC
Tenant: Downtown Developers LLC
Contractor: Naylor Construction
Architect: Blackledge Architecture PC

75. Aldi Inc. Buys Land For Collierville Store - Tuesday, January 13, 2009

523 W. Poplar Ave.
Collierville, TN 38017
Sale Amount: $1 Million

Sale Date: Nov. 25, 2008
Buyer: Aldi Collierville LLC
Seller: Martin and Mildred Tippit

76. Commercial Real Estate Sales Down 18 Percent - Tuesday, December 23, 2008

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.

77. Hickory Hill, Cordova Lead Newcomer Activity - Monday, November 17, 2008

The two areas of Shelby County that have received the most newcomers so far this year are in the southeastern and eastern areas of the city, as shown by first-time Memphis Light, Gas and Water Division hookups.

78. 62-Bed Alzheimer’s Facility Coming to Germantown - Tuesday, November 04, 2008
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.

79. Multifamily Sector Steady to Good in Q3 - Friday, October 31, 2008

The Memphis multifamily market once again proved itself resistant to the economic downturn, registering another period of improvement during the third quarter (July through September) as other sectors continued their slide.

80. New Orleans-Style Center Comes to Cordova - Thursday, October 30, 2008
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

81. Central Gardens Condominiums Under Renovation - Tuesday, October 21, 2008

1676 Central Ave.
Memphis, TN 38104
Loan Amount: $ 750,000

Loan Date: Sept. 18, 2008
Maturity Date: Sept. 17, 2009
Borrower: Belvedere Central LLC
Lender: BancorpSouth Bank

82. Lightman Realty to Begin Phase II of Centennial Gardens - Tuesday, October 14, 2008

7751 Centennial Drive
Memphis, TN 38125
Permit Amount: $10.6 Million

Project Cost: $14 million
Permit Date: Applied October 2008
Completion: 2010
Owner: Michael Lightman Realty Co.
Tenant: Michael Lightman Realty Co.
Contractor: Patton & Taylor Construction Co.
Architect: MMH Hall Architects and Planners Inc

83. Extensive Rehab Planned For Frayser Apartments - Tuesday, September 30, 2008

2881 Range Line Road
Memphis, TN 38127
Permit Amount: $2.6 Million

Project Cost: $2.6 million
Permit Date: Applied September 2008
Completion: Spring 2009
Owner: Rynard Properties Ridgecrest LP
Tenant: Rynard Properties Ridgecrest LP
Contractor: R.L. Rynard Construction Inc.

84. Commercial Real Estate Tumbles - Friday, August 22, 2008

After a prolonged and prosperous ride, commercial real estate stumbled in the past year with no signs of regaining its balance anytime soon.

Just 998 commercial sales were made in Shelby County from August 2007 through July 2008, down 17.6 percent from 1,211 sales during the previous 12-month period, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com.

85. Chick-fil-A Closes Purchase Of Midtown Church - Tuesday, August 05, 2008

1978 Union Ave.
Memphis, TN 38104
Sale Amount: $1.3 Million

Sale Date: July 24, 2008
Buyer: Chick-fil-A Inc.
Seller: Board of Stewardship, Foundation and Benefits of the Cumberland Presbyterian Church, formerly known as Board of Finance of the Cumberland Presbyterian Church

86. United Liquors Corp. Sells Parkway Village Warehouse - Tuesday, July 08, 2008

4009 Air Park Cove
Memphis, TN 38118
Sale Amount: $1.5 Million

Sale Date: June 30, 2008
Buyer: TCD Co.
Seller: United Liquors Corp.
Loan Amount: $11.2 million
Loan Date: June 30, 2008
Maturity Date: June 10, 2013
Lender: Columbus Bank and Trust Co.

87. Colonial Grand Transaction Gives Boost To Local Commercial Market - Wednesday, July 02, 2008

The commercial real estate market received a much-needed boost last week when Louisville, Ky.-based NTS Realty Holdings LP followed through on its plans to buy the Colonial Grand at Shelby Farms apartment complex for $41 million.

88. New AT&T Retail Center Slated for Germantown Parkway - Tuesday, June 10, 2008

1730 N. Germantown Parkway
Cordova, TN 38016
Sale Amount: $1.3 Million

Sale Date: May 6, 2008
Buyer: Retail Realty Partners LLC
Seller: First Capital Bank
Loan Amount: $2 million
Loan Date: May 12, 2008
Maturity Date: May 12, 2015
Lender: Cadence Bank NA

89. Luxury Apartments Under Way in Cordova - Monday, March 31, 2008

A new multifamily product in Cordova is under way on the west side of Houston Levee Road near Pisgah Road. Stockbridge, Ga.-based Davis Development Inc. has filed a $16.2 million construction loan for Carrington Park, a 226-unit luxury apartment complex, according to The Daily News Online, www.memphisdailynews.com.

90. Steady Sales Volume Good News for Commercial Real Estate - Friday, February 29, 2008

A handful of high-dollar deals highlighted Shelby County's commercial real estate sales landscape in January, helping 2008 begin on a positive note with a total sales volume of $137.4 million.

Topping the list of commercial sellers for the month was Fair Oak LLC, which sold two multifamily properties for a combined $17.7 million. It marked the top total dollar amount for any one seller during January, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com.

91. Southaven Destination - Monday, December 24, 2007

Sam Mitchell probably would be the first person to say commercial success in DeSoto County isn't limited to Goodman Road. The business lineup at Town Square at Snowden Grove in Southaven proves it.

92. Latest Newcomer Data Show First-Home Hotspots - Tuesday, November 20, 2007

Once the executive chairman of Birmingham, Ala.-based Regions Financial Corp. officially retires at the end of the year, he'll spend the next chapter of life pursuing civic and charitable work in the Bluff City.

93. Archived Article - Tuesday, September 25, 2007

40 lots in Shelby
And DeSoto counties
Loan Amount: $3.6 million

Loan Date: Sept. 13, 2007

Maturity Date: Sept. 20, 2012

94. Archived Article - Tuesday, July 31, 2007

6125 Shelby Drive
Memphis, TN 38141
Sale Amount: $13.5 million

Sale Date: July 20, 2007

Buyer: NatTennessee GP

95. Archived Article - Tuesday, July 03, 2007

2380 James Road
Memphis, TN 38127
Sale Amount: $4.9 million

Sale Date: May 1, 2007

Buyer: FPX Leasing II LLC

96. Multifamily Housing Market Remains Strong, Even With Lower Occupancies - Tuesday, February 27, 2007

Bolstered by a healthy local economy - most notably the area's highest job growth in five years - the Memphis multifamily housing market enjoyed a strong 2006 despite declining occupancy rates.

In other words, a steady new stream of workers kept the demand for apartments high, helping fill Class A and B properties and bumping up overall rental prices.

97. Local Relocation Companies Help New Residents Find Housing - Tuesday, February 20, 2007

First there was International Paper. Then there was ServiceMaster. Next, well, who knows?

But as corporations move their headquarters or relocate individuals to Memphis, the transferees and their families need to find new homes, just as their companies did.

98. $1.5 Million Land Transaction Heralds New Cordova Apartments - Wednesday, February 14, 2007
     Davis Development Inc., an apartment development company based near Atlanta, has bought two parcels on Houston Levee Road near Pisgah Road in Cordova and plans to build luxury apartment complexes on each.
  

99. Government Settles With Memphis Apts. - Monday, February 12, 2007
     The U.S. Department of Justice announced Wednesday it had reached a fair housing act settlement with a group of developers, builders, architects and engineers related to the design and construction of two Memphis-area ap

100. Marketing Millington: City gears up for long-awaited growth - Monday, February 05, 2007

These days, a drive through Millington might just surprise you.

The city of more than 10,000 people is working hard to attract businesses and residents and could someday compete with the likes of Collierville and Bartlett.