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Editorial Results (free)

1. Cates, Kornegay Look to Future While Honoring Colliers’ Past -

The memory is scorched in Andy Cates’ mind.

It was 2005 and Cates, just 29 years old at the time, was being made a partner at Colliers International Memphis, the commercial real estate firm.

2. 2 Brokers Take Majority Stake in Colliers Memphis -

Two longtime members of Colliers International's Memphis office have taken a majority stake in the real estate company.

Andy Cates, executive vice president of brokerage, and Brad Kornegay, CEO of Colliers Management Services LLC, are now the majority shareholders in the two legal entities that make up the Memphis office.

3. Wright Medical Investing in Arlington -

Just months after relocating its corporate headquarters to Memphis, Wright Medical Group Inc. is planning a $4.3 million expansion of its manufacturing and distribution operations in Arlington.

4. Wal-Mart Jumps Into the Money Transfer Biz, Loudly -

NEW YORK (AP) – Wal-Mart is delving deeper into financial services at its stores and shaking up the money transfer business.

The world's largest retailer introduced a new money transfer service Thursday that it says will cut fees for its low-income customers by up to 50 percent compared with similar services elsewhere. The Walmart-2-Walmart service is being rolled out in partnership with Ria Money Transfer, a subsidiary of Euronet Worldwide Inc.

5. Commercial Real Estate Sales Up 6.1 Percent In March -

Shelby County recorded 208 commercial real estate sales in the first quarter, according to real estate information company Chandler Reports, www.chandlerreports.com.

6. Wright Medical Investing in Arlington -

Just months after relocating its corporate headquarters to Memphis, Wright Medical Group Inc. is planning a $4.3 million expansion of its manufacturing and distribution operations in Arlington.

7. Dallas Company Buys Macon Road Center -

6100 Macon Road
Memphis, TN 38134
Sale Amount: $1.2 million

Sale Date: March 26, 2014
Buyer: PNL Cumberland LLC
Seller: Flagstar Bank FSB
Loan Amount: $862,500
Loan Date: April 1, 2014
Maturity Date: N/A
Lender: Pinnacle Bank
Details: An affiliate of Dallas-based The PNL Cos. has paid $1.2 million for the 30,000-square-foot shopping center at 6100 Macon Road in Northeast Memphis.

8. Continental Eyeing Memphis for Tire Facility -

The tire division of Continental AG, one of the world’s largest automotive industry suppliers, is eyeing a location on Winchester Road in Memphis for a retreading, service and sales center.

Continental Tire the Americas LLC is seeking a tax break from the Economic Development Growth Engine of Memphis and Shelby County for a tire facility that will employ 25 people at 3474 Winchester Road.

9. 2 Brokers Take Majority Stake in Colliers Memphis -

Two longtime members of Colliers International's Memphis office have taken a majority stake in the real estate company.

Andy Cates, executive vice president of brokerage, and Brad Kornegay, CEO of Colliers Management Services LLC, are now the majority shareholders in the two legal entities that make up the Memphis office.

10. Cates, Kornegay Take Majority Stake in Colliers’ Memphis Office -

Two longtime members of Colliers International's Memphis office have taken a majority stake in the real estate company.

Andy Cates, executive vice president of brokerage, and Brad Kornegay, CEO of Colliers Management Services LLC, are now the majority shareholders in the two legal entities that make up the Memphis office.

11. Glencore Grain Buys 2 Industrial Properties -

An affiliate of Swiss commodities giant Glencore International AG has bought warehouses at 1824 Frisco Ave. and 2452 Frisco Ave. in the Defense Depot area.

12. Minutes Show Fed Struggled to Agree on Rate Policy -

WASHINGTON (AP) – The Federal Reserve struggled last month over how to convey to investors that it will raise short-term interest rates only slowly once it increases them from record lows.

13. Food Recycler Buys Presidents Island Property -

ReConserve of Memphis Inc., the local affiliate of a California-based food recycling company, has bought the warehouse at 1495 Harbor Ave. on Presidents Island for $781,577.

14. End of Windows XP Support Spells Trouble for Some -

NEW YORK (AP) – Microsoft will end support for the persistently popular Windows XP on Tuesday, and with an estimated 30 percent of businesses and consumers still using the 12-year-old operating system, the move could put everything from the operations of heavy industry to the identities of everyday people in danger.

15. US Finally Regains the Jobs Lost in the Recession -

WASHINGTON (AP) – The U.S. economy has reached a milestone: It has finally regained all the private-sector jobs it lost during the Great Recession.

Yet it took a painfully slow six years, and unemployment remains stubbornly high at 6.7 percent.

16. Pahlow Wins Broker of the Year -

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

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

17. Restivo Group Moves to New Midtown Digs -

The Restivo Group Realtors has expanded into new offices at 1861 Madison Ave. in the landmark Gilmore Building.

18. Yellen: Job Market Needs Low Rates 'For Some Time' -

WASHINGTON (AP) – Federal Reserve Chair Janet Yellen made clear Monday that she thinks the still-subpar U.S. job market will continue to need the help of low interest rates "for some time."

19. Industrial Portfolio Sells for $43 Million -

4550 Swinnea Road6005 Freeport Ave., 3399 E. Raines Road
Memphis, TN
Sale Amounts: $10.1 million; $14.8 million; $18 million

20. This week in Memphis history: February 28-March 3 -

2013: A group of 61 Ku Klux Klan members along with neo-Nazis and Aryan Nations members rallied at the Shelby County Courthouse to protest the plan by the City Council to rename three Confederate-themed parks. The massive police response included 400 law enforcement officers in riot gear, a chain link fence around the Klan protestors and another chain link fence two blocks away around a group of 1,200 counter protestors and curious onlookers. One counter protestor was arrested.

21. Industrial Portfolio Sells for $43 Million -

Affiliates of Plymouth Meeting, Pa.-based Exeter Property Group have paid a combined $42.9 million for a Memphis industrial portfolio.

The companies, in three separate special warranty deeds, bought the Memphis International Distribution Center at 4550 Swinnea Road in Oakhaven for $10.1 million, the warehouse at 6005 Freeport Avenue for $14.8 million and the warehouse at 3399 E. Raines Road for $18 million.

22. New Retail Center Proposed for Downtown Memphis -

A new mixed-use retail center could be headed to the area south of FedExForum Downtown after the developer received approval Wednesday, March 26 for two drive-thru windows and several other code variances.

23. Survey: Economists See US Growth Pickup This Year -

WASHINGTON, D.C. (AP) — With the pace of U.S. economic growth seen speeding up later this year and next, many business economists expect the Federal Reserve to end its bond purchases this fall or even earlier.

24. Georgian Woods Apartments Sell for $3.9 Million -

118 St. Agnes Drive
Memphis, TN 38112

Sale Amount: $3.9 million

Sale Date: March 14, 2014

Buyer: Georgian Woods Property Owner LLC

25. Slow Down to Innovate -

Somewhere in the Industrial Revolution a prejudice was created for speed.

Efficiency came to mean effectiveness. From this mindset emerged two paradigmatic biases: more is better (more work, more inventory, more money) and speed wins (time to market, time is money, etc.). This mindset was a boon in its era, but has outlived its usefulness.

26. US Factory Output Rebounds in February -

U.S. factory output rebounded strongly in February after harsh winter storms caused a steep drop-off in production in January. Manufacturers produced more autos, home electronics and chemicals.

The Federal Reserve said Monday that factory production surged 0.8 percent, nearly reversing a 0.9 percent plunge in January that was due mainly to weather. February’s gain was the largest in six months.

27. March 21-March 27: This week in Memphis history -

1994: Pearl Jam at the Mid-South Coliseum with Kings X opening.

1974: On the front page of The Daily News, the Bureau of Business and Economic Research at Memphis State University was seeing indications of the national recession with a “mixed” set of indicators from January in the form of a continuing decline from a year earlier in new car sales. Durable goods employment showed a loss of 200 jobs. Manufacturing employment was unchanged. The local unemployment rate was 2.9 percent.

28. Owner of New Getwell Facility Files $1.2M Loan -

The owner of the 110,808-square-foot industrial facility at 4050 New Getwell Road in Oakhaven has filed a $1.2 million loan on the property.

29. City Pension Change Outlined for 2015 -

The administration of Memphis Mayor A C Wharton Jr. made its formal proposal of a “long-term solution” and change in the city’s pension plan to a 401(k) style plan this week with specific terms Wharton has long said would be included.

30. US Factory Output Rebounds in February -

U.S. factory output rebounded strongly in February after harsh winter storms caused a steep drop-off in production in January. Manufacturers produced more autos, home electronics and chemicals.

The Federal Reserve said Monday that factory production surged 0.8 percent, nearly reversing a 0.9 percent plunge in January that was due mainly to weather. February's gain was the largest in six months.

31. City Council Continues Pension Talks -

Memphis City Council members continue their discussions Tuesday, March 18, about the city’s unfunded pension liability as well as possible changes in city employee heath care benefits.

But there is still no action on any part of the issues on the council agenda for a vote.

32. Shelby County CRE Sales Up 14 Percent in February -

Shelby County recorded 49 commercial real estate sales in February, according to real estate information company Chandler Reports, www.chandlerreports.com.

33. Galvanizing Company Files Permit for Facility -

3328 Fite Road
Millington, TN 38053
Permit Cost: $1.9 million

Project Cost: N/A
Permit Date: Applied March 2014
Completion: N/A
Owner: 3328 Fite LLC
Tenant: 3328 Fite LLC
Architect: N/A
Contractor: N/A
Details: An affiliate of Columbus, Ohio-based “hot dip galvanizing” company Voigt & Schweitzer LLC plans to construct a 63,120-square-foot facility near Millington.

34. Exeter Property Group Acquires Industrial Portfolio -

Exeter Property Group has acquired a 4.4 million-square-foot industrial portfolio – including four properties in Memphis – for $132 million.

Exeter recently acquired the properties located in Memphis, Nashville and Columbus, Ohio, from LNR Property LLC, a special servicer appointed to the portfolio upon its transfer from London-based Strategic Realty Advisors Ltd. in June 2013.

35. Galvanizing Company Files Permit for Facility -

An affiliate of Columbus, Ohio-based “hot dip galvanizing” company Voigt & Schweitzer LLC plans to construct a 63,120-square-foot facility near Millington.

36. Coca-Cola Exploring Expansion in Chattanooga -

CHATTANOOGA (AP) – Officials with Coca-Cola Bottling Co. United are looking at expanding in Chattanooga.

37. Nolan AV Files Loan on Shelby Oaks Facility -

Longtime audio-visual company Nolan AV has filed a $1 million loan on its industrial facility at 6225 Shelby Oaks Drive in Northeast Memphis.

38. This week in Memphis history: Feb. 28-March 6 -

1974: On the front page of The Daily News, J.C. Penney Co. announced it would lease a new 508,700-square-foot hardware/automotive national distribution center in Southaven’s Freeport Industrial Park at State Line and Rostin roads. The center was being built by Boston-based Cabot, Cabot and Forbes Co. Southaven was still an unincorporated suburb at the time, governed by the DeSoto County government and growing in terms of economic development as growth in Whitehaven began to spill over across the state line. Southaven would be incorporated in 1981.

39. ‘Never a Dull Moment’ in CRE for Hackmeyer -

After beginning the pursuit of a career as a pilot after graduating from the University of Alabama, Tanis Hackmeyer switched gears and delved into the world of commercial real estate.

“I believe that was one of the hardest decisions I’ve ever had to make and one of the best decisions I’ve ever made,” said Hackmeyer, managing partner at Hackmeyer Properties. “There were a few years where I still felt like I should be doing some flying, but I really was happy from the start that I made my decision.”

40. Yellen: Fed Monitoring Recent Weaker Economic Data -

WASHINGTON (AP) – Federal Reserve Chair Janet Yellen noted Thursday that recent economic data have pointed to weaker-than-expected gains in consumer spending and job growth. She said the Fed will be watching to see whether the slowdown proves only a temporary blip caused by severe winter weather.

41. MalmoMemphis Completes Three Law Firm Leases -

Three Memphis law firms represented by MalmoMemphis Real Estate Inc. have renewed their office leases or leased new spaces.

42. Healthy Design -

The road to community health and wealth is paved, at least in part, with smart design principles.

Density, a strong mix of uses, high design standards and amenities such as bike lanes and parks can produce healthier communities that attract business investment, Hernando Mayor Chip Johnson told Urban Land Institute Memphis members this week.

43. Cold Weather Causes Factory Output to Drop -

Harsh winter weather led to a steep drop in U.S. factory output in January. Manufacturers made fewer cars and trucks, appliances, furniture and carpeting, as the recent cold spell ended five straight months of increased production.

44. This week in Memphis history: February 21-27 -

2013: The Salvation Army Kroc Center opened at the Mid-South Fairgrounds.

1974: On the front page of The Daily News, Albertine McCrory developers announced a 1,500-home planned community at Interstate 40 and Whitten Road called Hillshire. The plans called for single-family homes, townhouse condominiums, garden apartments, duplexes and commercial areas as well as an office industrial park for an estimated 12,000 people or a community about the size of Parkway Village at the time.

45. Northgate’s Shift -

When the Kroger store opened at Northgate shopping center in Frayser 58 years ago, the store gave away a Shetland pony.

When the store closed Tuesday, Feb. 18, it was the last of the original tenants in a center whose changing fortunes mirror those of the blue-collar suburb still feeling the loss of its blue-collar jobs.

46. Deadline Nears for Pinnacle Awards -

The deadline for the Memphis Area Association of Realtors Commercial Council’s 13th annual Pinnacle Awards ceremony is fast approaching.

The deadline for Commercial Council members to enter the Pinnacle Awards, an event that brings commercial real estate industry professionals together and honors them for their accomplishments in the previous year, is Friday, Feb. 21, at 5 p.m. Winners will be honored at an April 3 ceremony at Memphis Botanic Garden.

47. Cold Weather Causes Factory Output to Drop -

WASHINGTON (AP) — Harsh winter weather led to a steep drop in U.S. factory output in January. Manufacturers made fewer cars and trucks, appliances, furniture and carpeting, as the recent cold spell ended five straight months of increased production

48. Yellen Debuts as Fed Chair -

For the first time since 2006, someone not named Ben Bernanke testified before the House Financial Services Committee as Chair of the Board of Governors of the Federal Reserve System. Dr. Janet Yellen officially assumed the post on Feb. 3.

49. Orpheum Files Permit For Performing Arts Center -

225 S. Main St.
Memphis, TN 38103

Permit Cost: $10.2 million

Project Cost: $14.5 million

50. Cold Weather Causes Factory Output to Drop -

Harsh winter weather led to a steep drop in U.S. factory output in January. Manufacturers made fewer cars and trucks, appliances, furniture and carpeting, as the recent cold spell ended five straight months of increased production

51. Industrial Portfolio Sells for $17 Million -

An affiliate of Boston-based Taurus Investment Holdings LLC has paid close to $17 million for a 650,000-square-foot industrial portfolio on South Mendenhall Road in Hickory Hill.

52. Net Leases – Explained -

Many retail and industrial leases are structured as net leases, but what does “net lease” mean?

A “net lease” is a lease transaction in which the landlord receives a monthly payment composed of two items: first and foremost is the rent, net of the property operating expenses and secondarily a portion of real estate taxes upon the property, casualty/liability insurance upon the property and common area expenses for the property.

53. Caissa Public Strategy Opens DC Office -

Fueled by a demand for the specialized services it provides, Memphis-based consulting firm Caissa Public Strategy has expanded with the opening of a new office in the nation’s capital.

Caissa founder Brian Stephens said the reason for the expansion there isn’t necessarily obvious. Caissa didn’t hang out its shingle in Washington to focus on landing new work there – instead, the new office is intended to help Caissa have better relationships with its clients there who need work done in the South.

54. This week in Memphis history: February 14-20 -

2013: On the front page of The Daily News, Shelby County Schools board members approved a budget proposal that included $145 million in new funding to be sent to the Shelby County Commission for funding. It followed a long debate about whether the commission would approve that much extra and what the reaction from parents and teachers would be to the cuts that followed if the commission didn’t. The commission rejected the budget proposal.

55. US Retail Sales Down 0.4 Percent in January -

WASHINGTON (AP) – Cold weather across much of the nation contributed to a drop in retail sales in January. Americans spent less on autos and clothes and at restaurants – a decline that suggests that momentum from consumer spending at the end of 2013 has tailed off.

56. 13th Annual Pinnacle Awards On the Horizon -

Planning is well underway for the Memphis Area Association of Realtors Commercial Council’s 13th annual Pinnacle Awards ceremony, an evening dedicated to bringing commercial real estate industry professionals together and honoring them for their accomplishments in the previous year.

57. Yellen to Investors: Expect Continuity at the Fed -

WASHINGTON (AP) – Federal Reserve Chair Janet Yellen sought Tuesday to reassure investors that she will embrace the approach to interest-rate policy that her predecessor, Ben Bernanke, pursued before he stepped down as chairman last month.

58. MAAR to Hold Commercial Forecast Summit Feb. 12 -

Commercial real estate experts will share their insights this week on what to expect nationally and locally in 2014.

The Memphis Area Association of Realtors’ Commercial Council will host the 2014 Commercial Property Forecast Summit Wednesday, Feb. 12.

59. Southbrook Mall Plan Headed to City Council -

What began as a plan last year for $1.5 million in city funding to fix the roof and make other repairs at Whitehaven’s Southbrook Mall has now become a larger and probably more expensive plan for development in a broad area of Whitehaven.

60. US Employers Add 113,000 Jobs; Rate Dips to 6.6 Percent -

WASHINGTON (AP) – A surprisingly weak jobs report for a second straight month has renewed concern that the U.S. economy might be slowing after a strong finish last year.

Employers added 113,000 jobs in January, far fewer than the average monthly gain of 194,000 last year. Job gains have averaged just 154,000 the past three months, down from 201,000 in the preceding three.

61. PILOT Reform -

Nike is in the midst of a $301 million expansion of its Northridge plant in Frayser, a project that means the Beaverton, Ore.-based company will create 250 new jobs and retain 1,600 existing local jobs.

62. Fears of Slowdown Sharpen Focus on US Jobs Report -

WASHINGTON (AP) – Fears of an economic slowdown are heightening anticipation of what Friday's U.S. jobs report for January might reveal.

Stock markets have sunk after signs of weaker growth in the United States, Europe and China. Turmoil in developing countries has further spooked investors. The upheaval has renewed doubts about the Federal Reserve's next steps.

63. FedExForum Area Targeted for Apartments -

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

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

64. City Council Reviews Raleigh Springs Mall Plan -

Memphis City Council members get their first public detailed look Tuesday, Feb. 4, of an “urban renewal” plan for the Raleigh Springs Mall.

The council meets at 3:30 p.m. at City Hall, 125 N. Main St. Follow the meeting @tdnpols, www.twitter.com/tdnpols.

65. Office Occupancy Ends 2013 on High Note -

An unusually strong fourth quarter helped push the overall Memphis office market occupancy rate into positive territory for 2013, according to year-end commercial real estate market reports.

The Memphis market recorded absorption of 225,338 square feet in the fourth quarter – the largest positive absorption the market has experienced during any quarter in more than 10 years – to end the year with positive net absorption of 40,558 square feet, according to CB Richard Ellis Memphis.

66. Corporate Shamanism -

Everyday we advise clients to take risks, leap into unknown and unexplored areas, express themselves in new ways – all to locate, validate and capitalize on new areas of growth.

We have formal methods and processes for unlocking potential and manifesting new realities for them. We always tell them to be true to themselves, their organizations and be a positive force on the planet. We embolden and encourage. We connect them to the real lives that use their creations.

67. Hunter Fan’s Casablanca Brand Emphasizes Design -

James C. Hunter’s first ceiling fan, which he invented in Syracuse, N.Y., in 1886, was water-driven.

Sometime after that, Hunter moved the company to Memphis and in 1896 changed its name to Hunter Fan & Motor Co.

68. LeSaint Logistics Expands Memphis Footprint -

Less than a year after arriving in Memphis, LeSaint Logistics is already expanding its operations here.

LeSaint entered the market in July when it leased an initial 57,285 square feet at 3300 Jet Cove inside Memphis International Airport Center. LeSaint is expanding its footprint by 34,015 square feet, a 60 percent increase.

69. Fed to Reduce Pace of Bond Buying by Another $10 Billion -

WASHINGTON (AP) – The Federal Reserve is pushing ahead with a plan to shrink its bond-buying program because of a strengthening U.S. economy. It's doing so even though the prospect of reduced Fed stimulus and higher U.S. interest rates has rattled global markets.

70. Full Steam Ahead -

A burgeoning distribution and logistics market for the Mid-South is taking root in the rich Delta soil in Marshall County, Miss., and Fayette County, Tenn.

Industrial developers and their tenants, lured by the availability of large tracts of land, major infrastructure enhancements, a new intermodal facility and friendly, focused public policy, are increasingly targeting the area.

71. Industrial Park Expansions Gaining Momentum -

Economic development officials should know the final scope of a planned expansion of Presidents Island within the next 30 days while the proposed growth of nearby Frank C. Pidgeon Industrial Park is moving forward.

72. Industrial Park Expansions Are Gaining Momentum -

Economic development officials should know the final scope of a planned expansion of Presidents Island within the next 30 days while the proposed growth of nearby Frank C. Pidgeon Industrial Park is moving forward.

73. Full Steam Ahead -

A burgeoning distribution and logistics market for the Mid-South is taking root in the rich Delta soil in Marshall County, Miss., and Fayette County, Tenn.

Industrial developers and their tenants, lured by the availability of large tracts of land, major infrastructure enhancements, a new intermodal facility and friendly, focused public policy, are increasingly targeting the area.

74. Call Center ‘Gratifying’ for Local Office Sector -

Conduit Global’s announcement this week that it is locating a call center in Shelby County that will employ 1,000 people was a breath of fresh air for local office real estate professionals.

75. Jobs Explosion -

Conduit Global will hire 1,000 people over the next three to five years to staff a large call center in Shelby County, the company announced Wednesday, Jan. 22.

Conduit Global president Bryce Hayes said the New York-based company will start hiring 300 immediately for the $8 million call center serving Verizon.

76. Telecom Company to Open Call Center in Shelby County -

A telecommunications-related company will locate a major call center in Shelby County, a project that will create hundreds of new jobs.

The company, which has been operating under the code name Project Moscow, will announce the deal that will employ over 500 people on Wednesday, Jan. 22, according to sources with knowledge of the project. The unidentified company would operate the call center for one of the nation’s largest telecommunications providers, Verizon.

77. New Life -

When Rob Clark and his wife moved into their home in the historic Evergreen neighborhood in 1993, catalog and distribution operations were still active at the Sears Crosstown building.

That soon changed, and for roughly two decades the hulking property stood as a towering, painful reminder of the area’s faded glory.

78. US Factory Output Rises for Fifth Straight Month -

WASHINGTON (AP) – U.S. factory output rose for a fifth straight month in December, as manufacturers cranked out more cars and trucks, appliances and processed food. The gains suggest factories gave economic growth a strong boost at the end of the year.

79. If It Can Be Imagined, It Can Be Made -

The industrial revolution brought efficiency but led to the decline of human creation by hand. We stopped tinkering and started operating machines, becoming inherently less ingenious.

Over the past century, new product developed hinged on access to expensive machines out of reach for the individual. Thus, new production development and innovation became the domain of companies with the cutting edge equipment.

80. New Life -

When Rob Clark and his wife moved into their home in the historic Evergreen neighborhood in 1993, catalog and distribution operations were still active at the Sears Crosstown building.

That soon changed, and for roughly two decades the hulking property stood as a towering, painful reminder of the area’s faded glory.

81. KBM Group Growing at Clark Tower -

A digital marketing agency is expanding at Clark Tower in East Memphis.

KBM Group, which is part of Wunderman/WPP, one of the world’s largest marketers, is expanding at Clark Tower less than a year after moving into the East Memphis office building, 5100 Poplar Ave.

82. Collierville Fred’s Sells for $1.5 Million -

450 U.S. 72
Collierville, TN 38017
Sale Amount: $1.5 million

Sale Date: Dec. 20, 2013
Buyer: Collierville Realty Holdings LLC
Seller: Washington Square Properties (a Tennessee general partnership composed of Thomas W. Taylor, trustee of the Thomas W. Taylor Revocable Living Trust dated April 27, 2000, and Thomas W. Hart)
Loan Amount: $793,000
Loan Date: Dec. 20, 2013
Maturity Date: Dec. 20, 2016
Lender: First Capital Bank
Details: The 19,152-square-foot fred’s retail store at 450 U.S. 72 in Collierville has sold for $1.5 million.

83. Idea Factories -

Never mind how fully formed or exciting the concept sounds, Michael Overton, partner and creative director at inferno, is probably going to want to see it on the wall.

84. Nike Files $1.4 Million Permit for Frayser Facility -

Nike Inc. has filed a $1.4 million building permit with the city-county Office of Construction Code Enforcement for work on its North Memphis distribution center at 3100 New Frayser Blvd.

85. Midtown Medical Office Building Sells for $2.6 Million -

A partnership of two Utah-based companies has acquired a medical office building on Union Avenue near Overton Square.

Trivalis LLC and Novalis LLC, both based in Utah, acquired the medical office building built in 1967 at 2076 Union Ave., next door to the IHOP restaurant, for $2.6 million. The property, at the corner of Union Avenue and Florence Street, was appraised at $1.3 million in 2013, according to the Shelby County Assessor of Property’s office. The sellers, Missouri-based Roundabout Real Estate LLC and Visual Projects LLC, acquired the property in 2008 for $2 million.

86. Electrolux Cooks -

Executives at Electrolux Major Appliances North America formally opened their Memphis plant Thursday, Jan. 9, at Frank C. Pidgeon Industrial Park.

But as Tennessee Gov. Bill Haslam and local elected leaders toured the facility, there were plenty of indications the $266 million plant has been turning out ovens and stoves for a couple of months.

87. Electrolux Memphis Hosts Grand Opening Thursday -

Electrolux North America is hosting a grand opening for its Memphis manufacturing plant Thursday, Jan. 9.

Jack Truong, president and CEO of Electrolux Major Appliances North America, Gov. Bill Haslam, Memphis Mayor A C Wharton Jr. and Shelby County Mayor Mark Luttrell will join other state and local officials to mark the grand opening of the $266 million plant, which will employ around 1,200 people once it reaches full production.

88. SK Realty Pays $9.4 Million For Raines Warehouse -

An affiliate of New York-based SK Realty Management has paid $9.4 million for the 658,257-square-foot warehouse at 5555 E. Raines Road in Hickory Hill.

89. Oakhaven Warehouse Sells for $1.2 Million -

4300 Air Trans Road
Memphis, TN 38118
Sale Amount: $1.2 million

Sale Date: Dec. 17, 2013
Buyer: Chob Realty LLC
Seller: Tenn Trans LLC
Loan Amount: $950,000
Loan Date: Dec. 19, 2013
Maturity Date: N/A
Lender: BankPlus
Details: The 109,626-square-foot warehouse at 4300 Air Trans Road in Oakhaven has traded hands for $1.2 million.

90. Corinth Silicon Plant Adds to 2013 Mississippi Jobs Total -

Mississippi Gov. Phil Bryant capped a busy 2013 on the economic development front with a New Year’s Eve announcement of a $200 million silicon metal plant near Corinth.

The Mississippi Silicon plant will employ 200 when completed in the town of Burnsville, 100 miles southeast of Memphis. The metal made there will be used in chemical, aluminum and automotive plants.

91. Mid-South Food Bank Files $1.6 Million Loan -

Mid-South Food Bank has filed a $1.6 million on its newly acquired property at 3834 Knight Road in Oakhaven.

92. Wright Signs Lease for East Memphis Headquarters -

After months of planning, Wright Medical Group Inc. has signed the lease for its new headquarters and is in the process of moving to the wooded office campus at Park Avenue and Cherry Road in East Memphis.

93. Corinth Silicon Plant Adds to 2013 Mississippi Jobs Total -

Mississippi Gov. Phil Bryant capped a busy 2013 on the economic development front with a New Year’s Eve announcement of a $200 million silicon metal plant near Corinth.

The Mississippi Silicon plant will employ 200 when completed in the town of Burnsville, 100 miles southeast of Memphis. The metal made there will be used in chemical, aluminum and automotive plants.

94. New Owner of Holmes Properties Files Loan -

The new owner of the Memphis Logistics I and II buildings at 5510 E. Holmes Road and 5540 E. Holmes Road has filed a $28.9 million loan on the properties.

95. Worksite Consultants Preps Employees for Job Rigors -

In an industrial park in Southeast Memphis is a facility that can best be described as an “adult jungle gym.”

Among warehouses, 18-wheelers and office space is the home of Worksite Consultants. With its 3,000 square feet of ladders and ramps, boxes and weights of all measure, owner Denise Higdon and her team put the employees of some of the area’s largest companies through their paces.

96. What Does the Fed Say? -

Ben Bernanke announced a tapering of the Federal Reserve’s asset purchase program from $85 billion to $75 billion at his final FOMC meeting last week, and contrary to pundit fears, the Dow Jones Industrial Average threw him a going away celebration by rallying to new highs. What he said:

97. Industrial Uptick Seen in Outer Counties -

The Memphis industrial market saw the return of speculative development in 2013 and an uptick in tenants seeking blocks of 500,000 square feet or more.

After suffering through a prolonged slump in industrial construction activity following the economic collapse and resulting recession, industrial development outside of Shelby County in the Memphis market roared back to life in 2013.

98. Cordova Creek Apartments Sell for $12.5 Million -

1175 N. Germantown Parkway
Memphis, TN 38016
Sale Amount: $12.5 million

99. US Economy Expands at 4.1 Percent Rate -

WASHINGTON (AP) – The U.S. economy grew at a solid 4.1 percent annual rate from July through September, the fastest pace since late 2011 and significantly higher than previously thought. Much of the upward revision came from stronger consumer spending.

100. 4 Tennessee Sites Selected for Company Investment -

The Tennessee Department of Economic and Community Development has announced four new locations ready for company investment.

The Select Tennessee Certified Sites program was launched last year with the goal of helping Tennessee communities prepare available sites for investment and expansion. The program sets a rigorous standard upon which companies can rely in making location decisions. There are 26 greenfield sites available in 19 counties across the state.