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Editorial Results (free)

1. Developer Tries Again for Highland McDonald’s -

The developer behind a proposed McDonald’s on Highland Avenue near the University of Memphis is making another attempt at the project.

According to the most current site plan, the 5,353-square-foot restaurant building is situated along the sidewalk on Highland and a looping drive-thru proposed earlier has been replaced with one that runs along the eastern side of the building.

2. ‘Drive for Progress’ -

There’s a duality of meaning implied in the name of the civic organization where Nancy Coffee serves as president and CEO.

3. Asics America Expanding in Byhalia -

Asics America Corp. is expanding its footprint in Byhalia, Miss.

The company is adding 342,144 square feet to its central footwear and apparel distribution center inside the Chickasaw Trail Industrial Park.

4. Addison at Collierville Owner Files $17 Million Loan -

400 Orchard Circle
Collierville, TN 38017
Loan Amount: $16.8 million

Loan Date: July 1, 2014
Maturity Date: July 1, 2021
Borrower: G&I VII Addison at Collierville LLC
Lender: CBRE Capital Markets Inc.
Details: The owner of the 226-unit Addison at Collierville apartments at 400 Orchard Circle W. has filed a $16.8 million loan on the property.

5. ‘Significant Headwinds’ -

When Gov. Bill Haslam joined local economic development and civic officials at FedExForum in January to announce that Conduit Global would open a call center in Shelby County that would employ 1,000 people over the next three to five years, it provided a much-needed boost to the local office real estate sector.

6. Problem Solvers -

Rick Smith is director of property management for Finard Properties, the commercial real estate firm that owns and manages properties such as the landmark Poplar Plaza shopping center at Poplar Avenue and Highland Street.

7. Legacy Farm Owner Files $29.8 Million Loan -

1120 Winchester Road
Collierville, TN 38017
Loan Amount: $29.8 million

Loan Date: June 18, 2014
Maturity Date: July 1, 2021
Borrower: Legacy Farm LLC
Lender: CBRE Capital Markets Inc.
Details: The owner of the 368-unit Legacy Farm apartment complex at 1120 Winchester Road in Collierville has filed a $29.8 million loan on the property.

8. Legacy Farm Owner Files $29.8 Million Loan -

The owner of the 368-unit Legacy Farm apartment complex at 1120 Winchester Road in Collierville has filed a $29.8 million loan on the property.

9. Pan Am Flight Academy Building Sold -

A private investment group has purchased the Pan Am International Flight Academy office building.

Valhalla Financial bought the Memphis property, which is occupied by Pan Am’s local flight academy, for $4.9 million from Road Bay Investments LLC, a subsidiary of The Allstate Corp.

10. Pan Am Flight Academy Building Sold -

A private investment group has purchased the Pan Am International Flight Academy office building.

Valhalla Financial bought the Memphis property, which is occupied by Pan Am's local flight academy, for $4.9 million from Road Bay Investments LLC, a subsidiary of The Allstate Corp.

11. Bourland Heflin to Expand, Renovate Poplar Home -

A Memphis law firm is expanding its East Memphis office and improving public areas for clients and visitors.

Bourland Heflin Alvarez Minor & Matthews PLC renewed and expanded its lease in the 5400 Poplar Ave. office building.

12. Eastgate Set for Possible Makeover -

A venerable shopping center in East Memphis could be getting a significant makeover, according to a recent retail market report from CB Richard Ellis Memphis.

Eastgate Center LLC, the owner of Eastgate Shopping Center at Park Avenue and White Station Road in East Memphis, could make significant aesthetic improvements to the retail center beginning this year.

13. CB Richard Ellis Brokers Four Multifamily Sales -

The multifamily group at CB Richard Ellis Memphis has closed on the sale of four properties in the Memphis market over the last several weeks.

Briar Club Apartments, a 272-unit apartment community constructed in 1985, sold for $8.7 million, or $32,093 per unit. Cinnamon Trails Apartments, a 208-unit apartment community constructed in 1989, sold for $8.6 million, or $41,461 per unit. respectively. CBRE Memphis represented the sellers, Briar Apartments LLC and Cinnamon Apartments LLC in the sale to New York based Briar Club LLC and Cinnamon Trail LLC.

14. 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.

15. 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.

16. 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.

17. 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.

18. CBRE to Acquire Norland for $400 Million -

LOS ANGELES (AP) – Real estate investment firm CBRE Group Inc. said Tuesday that it plans to acquire British commercial building engineering firm Norland Managed Services Ltd. in a mostly cash deal worth up to 300 million pounds ($480 million).

19. Commercial Real Estate Market Reawakens -

After suffering through a prolonged slump, the Memphis commercial real estate market this year began to shake off the rust that gathered during the “Great Recession,” and brighter days could be ahead for the prime markets in the apartment, retail, office and industrial sectors, according to local experts.

20. Airport Center Signs Two New Tenants -

Memphis International Airport Center in Southeast Memphis has recently experienced positive leasing activity.

Lansing Building Products, a major supplier of building products such as siding, windows, gutters, trims, railings, columns and stone, renewed its 24,524-square-foot lease at 3510 Winchester Road.

21. Former Theater Site Heads to Auction Block -

The Internal Revenue Service is auctioning a Midtown building with an interesting history.

On Friday, Aug. 9, at the Shelby County Courthouse, the IRS will auction the building and a vacant lot at 319 Dr. M. L. King Jr. Drive and 323 Dr. M. L. King Jr. Drive. The minimum bid the IRS is seeking is $12,356. The IRS seized the building for nonpayment of IRS taxes due from Faith Village.

22. Raleigh Village Apartments Sell for $2.3 Million -

Raleigh Village, a 182-unit apartment complex constructed in 1974 and 1980, sold June 28 for $2.3 million, or $13,000 per unit.

Tommy Bronson III and Blake Pera with the CBRE Memphis Multifamily Division represented the seller, Grant Investments LLC, in the sale.

23. Raleigh Village Sells for $2.3 Million -

Raleigh Village, a 182-unit apartment complex constructed in 1974 and 1980, sold June 28 for $2.3 million, or $13,000 per unit.

Tommy Bronson III and Blake Pera with the CBRE Memphis Multifamily Division represented the seller, Grant Investments LLC, in the sale.

24. Cates Named Commercial Broker of Year -

The Memphis Area Association of Realtors Commercial Council honored its most productive members of 2012 at the 12th annual Pinnacle Awards gala, held Thursday, April 25, at the Memphis Country Club.

25. Olymbec Files $5.5 Million Mortgage on Brinkley Plaza -

Montreal-based Olymbec USA LLC, an entity of Olymbec Corporate Group, has filed a $5.45 million mortgage on Brinkley Plaza in Downtown Memphis.

26. Olymbec Files $5.5 Million Mortgage on Brinkley Plaza -

Montreal-based Olymbec USA LLC, an entity of Olymbec Corporate Group, has filed a $5.45 million mortgage on Brinkley Plaza in Downtown Memphis.

27. Breaking the Mold -

When Rosemarie Fair was named Broker of the Year in investment sales at last year’s Pinnacle Awards, she became the first woman ever to do so.

Before Fair founded One Source Commercial Inc. in 1993, she worked with Carlisle Corp. in the early 1980s on Beale Street Landing Downtown. She remembers often what her mentor Gene Carlisle taught her – “Somebody will take care of the big stuff, it’s the nickels and dimes that make the difference.”

28. Madewell Coming to Saddle Creek -

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

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

29. Pinnacle Departure Brings Real Estate Challenge -

Pinnacle Airlines Corp.’s relocation of its Memphis headquarters to Minneapolis by May should have long-term leasing effects on the Downtown office market.

30. Victory Packaging Relocates to Memphis -

Victory Packaging soon will relocate its entire Southaven branch operation to the Southeast Memphis industrial submarket.

The Houston, Texas-based industrial packaging supplier and distributor inked 158,333 square feet in Shelby Air Park Building 1, 4500 Malone Road. The 475,000-square-foot building also houses Terminal Warehouse Inc.

31. Changing Market -

Much of 2012’s commercial real estate deals could be summed up in one of three phrases: speculative construction, institutional buyers and unusual transactions.

The first quarter was kicked off when Industrial Developments International Inc. revealed plans to add one build-to-suit and two speculative buildings in its Crossroads Distribution Center in Olive Branch – marking the area’s first spec construction since 2008.

32. Levenger Leases Up EastPark IV -

A Delray Beach, Fla.-based specialty retail company is relocating its Memphis distribution warehouse within the Southeast submarket.

Levenger has inked 96,400 square feet in EastPark Distribution Center IV, 5265 Hickory Hill Road, bringing the 372,800-square-foot building to full occupancy. Levenger also has an operation at 3530 E. Raines Road.

33. Slow and Steady -

The local office market saw little change in the third quarter, and brokers say the fourth quarter will likely yield similar results.

Memphis’ vacancy rate ended the quarter in the mid-14 percent range, the same levels as 2008, according to Colliers International Memphis’ Q3 office report. Vacancy during that period in 2007 was below 12 percent.

34. 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.

35. Rheumatology Clinic Buys Germantown Office Building -

7660 Poplar Pike Germantown, TN 38138

Sale Amount: $986,850

Sale Date: Nov. 14, 2012

36. New Identity -

Every great person, every great organization and every great city is trying to be better today than they were yesterday.

That’s how Nancy Coffee puts it in describing the motivation behind the new name that’s been chosen for the nonprofit group she’s the president and CEO of – the New Memphis Institute, which used to be known as the Leadership Academy.

37. CBRE Shares Fall on Weak Third-Quarter Earnings -

CBRE Group Inc.'s shares fell Wednesday following a disappointing third-quarter earnings report from the real estate services company.

38. Brinkley Plaza Sells to Olymbec for $7.2 Million -

Downtown’s Brinkley Plaza has sold for $7.2 million to a Canadian real estate investment firm.

Montreal-based Olymbec USA LLC, an entity of Olymbec Corporate Group, acquired the 219,557-square-foot tower at 80 Monroe Ave., its ground lease and the adjacent 300-space covered parking garage.

39. Brinkley Plaza Sells to Olymbec for $7.2M -

Downtown’s Brinkley Plaza has sold for $7.2 million to a Canadian real estate investment firm.

Montreal-based Olymbec USA LLC, an entity of Olymbec Corporate Group, acquired the 219,557-square-foot tower at 80 Monroe Ave., its ground lease and the adjacent 300-space covered parking garage.

40. Lease Brings New Breed Footprint to 3 Million Feet -

New Breed Inc. is enhancing its Memphis operations with a new distribution warehouse lease in the Southeast industrial submarket.

41. DeWitt to Steer Council With Passion for Real Estate -

Greg deWitt’s history degree doesn’t necessarily come into play during his day-to-day leasing of office space, but it speaks to his early-on fascination with the built environment and the movers and shakers who helped to create it.

42. New Panera Underscores Midtown’s ‘Tipping Point’ -

Panera Bread Co. is coming to one of Midtown’s busiest streets following years of site selection in the area.

43. Denver REIT Buys Industrial Portfolio for $24M -

Denver-based Industrial Income Trust Inc. has bought an 890,000-square-foot industrial portfolio in Southeast Memphis from CRP Holdings B LP for $24.3 million. The purchase, recorded under the entity IIT Memphis IC LLC on the Shelby County Register of Deeds, includes various lots in Memphis Distribution Center.

44. Exeter Closes On Acquisition Of ProLogis Properties -

Pennsylvania-based Exeter Property Group has closed on its acquisition of 10 Memphis-area industrial buildings for $40 million from San Francisco-based ProLogis Inc.

45. Fla. Company Buys Cordova Retail Center -

Coral Springs, Fla.-based Swiss Capital Group LLC has acquired The Shops of Woodland Hills in Cordova for $3.1 million.

46. Commercial Advisors Grows CRE Portfolio -

Cushman & Wakefield/Commercial Advisors Asset Services LLC is on a roll, picking up various leasing and management assignments that have brought its office and industrial involvement to 17.8 million square feet.

47. Georgia 3PL Growing Its Area Footprint -

A Savannah, Ga.-based third-party logistics firm is seeing rapid expansion in the Southeast Memphis industrial market after its local entrance less than a year ago.

Coastal Logistics Group Inc. has signed a 50,000-square-foot lease extension at 5715 Distribution Drive, bringing its Memphis footprint to 100,000 square feet. The company inked its initial 50,000-square-foot warehouse lease in June.

48. New Owner For Bartlett Car Wash Property -

A former car wash site in Bartlett has traded hands. Nyan Jaf acquired the 0.71-acre lot at 5960 Summer Ave. from Mr. Carwash LLC for $65,000.

49. Office Opportunities -

Memphis’ office real estate landscape is changing, and for three firms, those changes are creating opportunities.

Orlando, Fla.-based Parkway Properties Inc. in March completed the sale of its interest in Renaissance Center – a 190,000-square-foot office building at 1715 Aaron Brenner Drive in the Poplar Avenue corridor – to partner Parkway Properties Office Fund LP.

50. Conn.-Based XSE Group Inks Deal -

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

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

51. Pera, Lightman, Rainer V Take Top Pinnacle Awards -

The Memphis Area Association of Realtors Commercial Council honored the top performers in commercial real estate for 2011 at the 11th annual Pinnacle Awards gala, held Tuesday, April 24, at the Holiday Inn University of Memphis.

52. Commercial Advisors Hires Walton as VP -

Patrick Walton has joined Cushman & Wakefield/Commercial Advisors Asset Services LLC as vice president and Certified Global Supply Chain Specialist.

53. Site Work for St. Jude Tower Part of Permit Application -

315 Danny Thomas Place
Memphis, TN 38105

Permit Cost: $5 million

Project Cost: $190 million

54. Hunter's Trace Apts. Financed for $11M -

Hunters Trace LLC has financed Hunters Trace Apartments through CBRE Capital Markets Inc. for $10.9 million.

55. CK’s Moves Into Jackson as Part of Expansion -

A longtime Memphis diner chain is expanding its presence into the Jackson, Tenn., market.

CK’s Coffee Shop has signed a five-year lease for 1,390 square feet of the existing 4,900-square-foot Old Medina Market Gas Station at 2800 Old Medina Road.

56. Former Mazda Warehouse Sells for $13.5M -

The former Mazda North America Inc. distribution center in DeSoto County has been acquired by Hillwood Investment Properties for $13.5 million.

57. Drexel Buys Presidents Is. Warehouse -

A longtime Memphis-based agricultural chemical provider has snatched up a warehouse on Presidents Island, where it already has a strong presence.

Drexel Chemical Co. purchased the 137,526-square-foot former manufacturing and distribution facility on 12 acres at 2070 and 2071 Channel Ave. on Presidents Island from HPD Properties LLC for $810,000, or $5.89 per square foot.

58. Lofty Heights -

The Mid-South apartment market is riding high after a strong 2011.

Last year saw increasing occupancies and rents, as well as a shift from investors and lenders back to more stable properties, all of which followed a 2010 that was dominated by activity involving distressed product.

59. CRE Activity Stays Strong During 2011 -

Despite hard times, local commercial real estate firms were able to ink plenty of deals in the past 12 months.

Memphis’ industrial leasing activity kicked off in January when Buena Park, Calif.-based Pacific Logistics Corp. signed a 60,000-square-foot lease in ProLogis Park DeSoto for its first Memphis-area location.

60. Harbor Town Apts. Sell For $31.5M -

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.

61. CBRE's Truitt Awarded By Commercial Alliance -

Realtors Commercial Alliance, the commercial division of the National Association of Realtors, has recognized Kelly Truitt of CB Richard Ellis Memphis, an affiliate of CB Richard Ellis Inc., as a recipient of the 2011 Realtors Commercial Alliance National Award.

62. Willow Lake Apartments Fetch $7.8M -

A North Hickory Hill apartment complex has traded hands for the second time in 18 months.

Bloomington, Minn.-based New Life Core Willow Lake LLC has bought Willow Lake Apartments at 2774 Mendenhall Road from NW-Willow Lake LLC for $7.8 million. The purchase was financed with a $7 million loan through KeyBank NA.

63. Murchison Combines Passion, Fun in Career at CBRE -

The phrase “There’s no place like home” rings true for native Memphian Brad Murchison. As a major player in the CB Richard Ellis industrial leasing team, Murchison finds Memphis to be a perfect fit for his career choice.

64. Plans Move Ahead For Cordova Staples -

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

Sale Date: July 26, 2011

Buyer: TN Cordova Germantown LLC

65. Madison Humphreys Center Financed for $18.8 Million -

Madison Humphreys Center LLC has filed an $18.8 million loan for Madison Humphreys Center, a 300-unit apartment complex built in 2001 at 300 N. Humphreys Blvd. The loan, through CBRE Capital Markets Inc., matures in August 2018.

66. Emerald Apts. Suit Settled, Properties Resold -

A $28 million lawsuit involving a trio of apartment complexes in Southeast Memphis settled on undisclosed terms last week, around the same time the original owner bought the properties back through three multimillion-dollar warranty deeds.

67. CRE Sales Increase 20 Percent In June -

Local commercial real estate sales improved in all categories last month, strongly aided by two big-ticket multifamily sales.

Shelby County saw 53 CRE sales in June, a 20 percent increase from 44 sales in June 2010, and a 4 percent boost from 51 in May, according to the latest information from real estate information company Chandler Reports, www.chandlerreports.com.

68. Trinity Place Sells For Third Time In Five Years -

A Cordova retail center is under new ownership for the third time in five years. Atlanta-based Altus Real Estate Advisors LLC has purchased Trinity Place, 7990 Trinity Road, for $2.8 million.

69. Apartments Owner Files Suit to Combat Foreclosure -

Three apartment complexes in Southeast Memphis that sold three months ago for $10 million are now mired in foreclosure and a $28 million lawsuit.

Bellevue, Wash.-based Emerald Apartment Group LLC financed the properties through Protective Life Insurance Co. in a trio of March 18 transactions: Emerald Square for $3.7 million, Emerald Pointe for $2.3 million and Emerald Park for $3 million. The sellers were three Georgia-based entities.

70. Orchards of Collierville Sells for $15.7M -

The Orchards of Collierville – a 226-unit apartment community at 400 Orchard Circle W. – has sold for $15.7 million.

71. Orchards of Collierville Sells for $15.7M -

The Orchards of Collierville – a 226-unit apartment community at 400 Orchard Circle W. – has sold for $15.7 million.

72. Sharp Optimistic About Future of CRE -

For more than 17 years, Mary Sharp has made a name for herself in the historically male-dominated industry of commercial real estate.

73. Ambulance Co. Signs New Lease, Ups Space -

A Nashville-based health care company is expanding its Memphis presence. First Call Ambulance Services LLC has signed a three-year, 13,500-square-foot lease at 5155 Wilfong Road, more than doubling its existing space on Federal Avenue.

74. Memphis Pride Signs Lease At Trinity Ridge -

An up-and-coming Mid-South cheer and tumbling company has signed a new lease to expand its business, a move that will benefit the facility’s students and parents alike.

Memphis Pride is relocating from a 5,000-square-foot space in Cordova Industrial Park to 16,080-square-foot lease at 7740 B Trinity Road, suite 126.

75. MBIN Signs New Lease At Bellbrook Park -

A Memphis-based wholesaler of collectable items has signed a new industrial lease in the Southwest submarket.

MBIN Global Inc. has signed a new lease for 26,250 square feet at Bellbrook Industrial Park, 1004 Brooks Road.

76. Brand Strategy -

It was two years ago at a Five Guys Burgers and Fries franchisee conference when license rights to Memphis were up for grabs.

Mark Moseley, director of franchising for the Lorton, Va.-based burger chain and friend of FedEx Corp. founder Fred Smith, approached Alabama franchisee Seth Hargett about putting together a package and asked him if he wanted Memphis.

77. Hickory Hill Apartments Sell for $10M -

Three apartment communities in the Hickory Hill Road/Knight Arnold Road area have sold for a combined price of $10 million.

Tommy Bronson III and Blake Pera with CB Richard Ellis Memphis’ multifamily division represented Hallmark Capital in the sale to Bellevue, Wash.-based Emerald Apartment Group. Wilson Management Inc., the managing entity behind Emerald Apartment Group, will retain and manage the properties.

78. Popular Burger Chain Moves Into Memphis -

After years of Five Guys Burgers and Fries having a presence in the Nashville and Knoxville areas, the chain is setting up shop in one of Memphis’ most densely populated areas.

Jubilee Restaurant Group LLC, owner of the franchise, signed a 2,882-square-foot lease in Primacy Place, 1615 Ridgeway Road.

79. New Plants Bode Well for Industrial Sector -

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

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

80. Interstate Brands Renews, Expands Lease -

Interstate Brands Corp. has renewed and expanded its lease in the Germantown Park - Kimbrough Building in Cordova, more than doubling its footprint.

81. EMHC Moving to Appling Farms, Doubling in Size -

Emergency Mobile Health Care is more than doubling the size of its Memphis corporate headquarters.

EMHC has signed a 14,200-square-foot lease at 6972 Appling Farms Parkway. EMHC currently occupies 6,900 square feet at 5071 Wilfong Road, and also has an office in Jackson, Tenn.

82. Skyline Grows Local Footprint on Vantech Dr. -

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

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

83. Evolve Systems Grows Memphis Location -

Evolve Digital Media has more than doubled its Memphis location at Apple Tree Center in Hickory Hill.

The Memphis-based company expanded its lease from 2,520 to 6,327 square feet at 6073 Mount Moriah Road Extended. Tyler Tapley, associate with CB Richard Ellis Memphis, represented the landlord, Apple Tree Center Partnership.

84. B.I.G. Idea -

With crime on a downward spiral in Memphis, a new initiative seeks to amplify this trend by forging partnerships between business leaders and police precincts.

Business Interest Group (B.I.G.) Uniting for a Better Memphis is asking people to step outside their office walls to learn what’s really happening in nearby neighborhoods. Likewise, precinct commanders are coming into conference rooms to present crime statistics and answer questions.

85. Pet Hospital Signs Lease at Corner Shops -

A new pet hospital is among the most recent tenants at The Corner Shops of Canada Road.

The Lakeland Pet Hospital signed a new 3,850-square-foot lease in the 32,500-square-foot center, at the northwest corner of U.S. 64 and Canada Road in Lakeland.

86. Omni Visions Deal Headlines Leasing Activity -

Omni Visions Inc. recently signed a new lease at Kirby Gate Business Campus, 2725 Kirby Parkway, for 3,523 square feet.

87. CBRE Lands Leasing Contract With Parkway -

The Memphis office of CB Richard Ellis Inc. will handle marketing and leasing services for Parkway Realty Service’s Memphis office building portfolio, the company announced this week.

88. MAAR Commercial Council Welcomes New Board Members -

The Memphis Area Association of Realtors Commercial Council held its annual board of directors meeting Thursday, approving three new members for its 2011 board.

Greg deWitt of Grubb & Ellis Co. will take over one of the council’s director seats next year before becoming the council’s vice president in 2012. He will inherit the seat occupied by John Mercer of Highwoods Properties in 2011.

89. Jim’s Place East Finds New Home on Perkins -

Jim’s Place East – a Memphis tradition since its founding nearly 90 years ago – is opening a location at Poplar Avenue and Perkins Road, having signed a 10-year lease for the 5,900-square-foot space that recently housed Harold’s women’s boutique.

90. Jim's Place East to Relocate to Poplar/Perkins -

Jim’s Place East – a Memphis tradition since its founding nearly 90 years ago – is opening a location at Poplar Avenue and Perkins Road, having signed a 10-year lease for the 5,900-square-foot space that recently housed Harold’s women’s boutique.

91. Arbors Of River Oaks Sells for $16.3 Million -

An out-of-town company has pulled the trigger on the largest multifamily deal of 2010 with the $16.3 million purchase of the Arbors of River Oaks.

Trade Street Capital LLC of Miami bought the 191-unit Class B complex at 6369 Humphreys Blvd. in River Oaks from The Shoptaw Group of Atlanta.

92. New York Company Buys Gardenwood Apartments -

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

93. Gardenwood Apartments Fetch $2.9M From NY Buyer -

New York-based Besyata Corp. has paid $2.9 million for the 152-unit Gardenwood Apartments at 4795 Hoover Drive in Raleigh.

94. Negative Absorption Dings Market -

The strength of Memphis’ commercial real estate market is its industrial sector, but the city’s bread and butter suffered a rare misstep in 2009, the most recent data show.

Memphis saw negative absorption of 352,797 square feet during the fourth quarter and negative absorption of 913,871 during 2009, according to a year-end report from CB Richard Ellis.

95. Sale Could Bring Improvements To Bella Vista -

Like many projects companies launched before the recession hit, the plan for rejuvenating the 432-unit Bella Vista Apartment Homes in Hickory Hill began with such promise.

In March 2007, a newly formed company, Maple Creek Advisors LLC of Dallas, made its first multifamily acquisition with plans to invest $4 million of renovations in the property.

96. Multifamily Survives Q4, Year -

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.

97. CBRE Report Shows Pockets of Hope in Retail Sector -

The local retail market hasn’t been immune to the sluggish economy, but Memphis saw a couple of bright spots during the third quarter (July through October), according to the latest data from CB Richard Ellis.

98. Impending Foreclosure Not First For Downtown Building -

The foreclosure notice filed Friday against One Commerce Square at 40 S. Main St. isn’t the first financial crisis the landmark tower has faced.

99. Memphis Multifamily Experiences Mixed Results -

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.

100. Hickory Pointe Sells For $5.8M to Utah Investor -

The Hickory Pointe Apartments at 2775 Hickory Pointe Lane in Hickory Hill has sold for $5.8 million in a substitute trustee’s sale to Hickory Pointe Apartments Utah LLC, an affiliate of Salt Lake City-based Capital Growth Corp.