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Editorial Results (free)

1. 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.

2. Four-Way Self Storage Facility Sells for $1.3 Million -

6780 Country Park Drive Memphis, TN 38134

Sale Amount: $1.3 million

Sale Date: April 9, 2013

3. Landings Apartment Owner Files $8.7 Million Loan -

The owner of the 292-unit Landings apartments at 3550 Brownbark Drive in Hickory Hill has filed an $8.7 million loan on the property.

4. Q1 Court Filings Remain Steady -

The first three months of 2009 saw some changes at the Shelby County Courthouse.

Circuit Court Judge Rita Stotts died two days into the year and her appointed successor, Lorrie Ritter, is preparing to take the oath of office and the bench in Division 4 this month.

5. Beale Street Lawsuits Multiply While Sources Stay Quiet -

The tangle of lawsuits surrounding the Beale Street Entertainment District has grown in the past month. The litigation frenzy has also extended to the Lee’s Landing development on the south side of the Beale Street block between Second and Third streets.

6. Lee’s Landing Dodges Foreclosure Sale -

Between the seated figures of authority and liberty last week the latest chapter in the saga of Beale Street’s complex business affairs amounted to a waiting game on the steps of the Shelby County Courthouse.

7. Lee’s Landing Avoids Foreclosure, But Lee's Commercial Files for Bankruptcy Protection - The owners of Lee’s Landing Garage, one block south of Beale Street, managed to block the foreclosure sale Thursday of the parking garage and strip of nightspots.

The auction on the steps of the Shelby County Courthouse at noon was delayed five times until 2 p.m.

Rowlett Scott, the attorney representing Sun Life Assurance Co. of Canada in the foreclosure, was reading the foreclosure notice on the steps when word came by cell phone that Sun Life and Lee’s Landing Garage LLC had reached a settlement.

One of those in contact with Scott by cell was Michael Marshall, the attorney for Lee’s Landing Garage LLC.

“I really can’t say what the sum of money is other than to say we have brought Sun Life current on their debt and are working to reorganize the company and make it a profitable going concern,” Marshall told The Daily News. “We have brought Sun Life current.”

Meanwhile, just before the noon deadline, Lee’s Landing Commercial LLC filed for Chapter 11 federal bankruptcy protection according to The Daily News Online, www.memphisdailynews.com. The company, whose president is Beale Street developer John Elkington, leases the spaces on the ground floor of the parking garage now occupied by several nightspots. The chapter 11 filing allows reorganization efforts that permit the businesses to remain open.

Marshall said the bankruptcy filing affects the owners’ plans “only to the extent that instead of going through Circuit Court to get at the assets that we believe belong to us, that we go through the bankruptcy court.”

The bankruptcy filing estimates the assets of Lee’s Landing Commercial LLC at between $1 million and $10 million. Liabilities are estimated in the same dollar range.

The list of creditors includes Elkington, who is claiming a $20,000 loan. His Performa Entertainment Real Estate LLC is another creditor with two loans totaling $422,611.98.

Lee’s Landing Garage LLC is claiming $900,000 is owed in trade debt.

Elkington and Lee’s Landing Garage President Michael Dumas and Vice President Steve Sallion have been at odds over the management of the southward expansion of the Beale Street entertainment district. Elkington left in a reorganization of the company’s leadership.

Sun Life filed the foreclosure notice and still has a motion pending in Chancery Court for appointment of a receiver after it claimed Lee’s Landing Garage defaulted on a $5.9 million promissory note.

Read more about the Lee’s Landing proceedings in Monday’s edition of The Daily News.

...

8. Beale, Lee’s Landing Battles Continue -

Once upon a time there was talk of a change in the management of the Beale Street entertainment district. And for a rare moment in November, it seemed that all of the many sides that have some role in the running of Beale Street were about to agree to it.

9. Archived Article -

1645 W. Massey Road
Memphis, TN 38120
Sale Amount: $19.7 million

Sale Date: Jan. 12, 2007

Buyer: WC-Memphis LLC

10. South Third CenterFinanced for $1.4 Million - Westwood Commons LLC has financed property on South Third Street through Sun Life Assurance Co. of Canada for $1.4 million. The 3.55-acre property includes a neighborhood shopping center built in 1964. Westwood Commons purchased the center from Boyle

11. Century Center BuildingsSell for $20.1 Million - Windsor at Century Center 1590 LLC and three related limited liability companies purchased four buildings on Century Center Parkway from Sun Life Assurance Co. of Canada for a combined price of $20.1 million. The properties are part of a payment-in-l

12. Archived Article: Real Recap - Lakeland Factory

Lakeland Outlet Mall Sells for $4 Million

Lakeland Factory

Outlet Mall

Cost: $4 million

Buyer: Lakeland Station LLC

Seller: Chelsea Memphis Holdings LLC

Property: The Lakeland Factory Outlet Mall, including an a...

13. Archived Article: Accredo (lead) - By Andy Meek

Accredo Expands in Century Center

Center keeps high occupancy in struggling market

ANDY MEEK

The Daily News

A major expansion is under way for a Memphis-based health care company that provides pharmacy and related service...

14. Archived Article: Idi (century Cntr) Lj - lj 10/5 cates Century Center property changes hands By LAURIE JOHNSON The Daily News Industrial Developments International closed a deal last week for $13.2 million, selling all four of the buildings it had developed and leased out in the Century Ce...