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Editorial Results (free)

1. 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.

2. Harold Ford Sr. Buys Sycamore View Property -

1670 Sycamore View Road Memphis, TN 38134

Sale Amount: $1.8 million

Sale Date: April 8, 2013

3. Cordova Ridge Shops Sells for $1.8 Million -

An affiliate of Norcross, Ga.-based Safeway Group Inc. has paid $1.8 million for Cordova Ridge Shops, a retail shopping center at 1204 Houston Levee Road in unincorporated Cordova.

4. Panda to Build Restaurant On Winchester Outparcel -

7525 Winchester Road
Memphis, TN 38125

Permit Cost: $791,345

Project Cost: N/A

5. Cordova Ridge Shops Sells for $2 Million -

An affiliate of Dallas-based CWCapital Asset Management LLC has paid $2 million for Cordova Ridge Shops, a retail shopping center at 1204 Houston Levee Road in unincorporated Cordova.

6. Cordova Ridge Shops Facing Foreclosure -

Cordova Ridge Shops, a Class A retail center on North Houston Levee Road, is facing foreclosure after its Nashville-based owner defaulted on a $3.3 million loan, according to a first-run foreclosure notice in the Aug. 1 Daily News.

7. Conway Services Moves to Cordova -

Conway Services Heating, Cooling & Plumbing has signed a new lease to accommodate space for its growing service team.

Conway Services is moving from 6426 Summer Gale Drive in Memphis near Bartlett to a warehouse on 1220 Big Orange Road in Cordova.

8. Carriage Crossing Jewelry Store Sold to Florida Investor -

4615 Merchants Park Circle
Collierville, TN 38017
Sale Amount: $2.8 Million

Sale Date: May 6, 2009
Buyer: Philip Brabyn
Seller: Carriage Avenue LLC
Loan Amount: $1.1 million
Loan Date: May 8, 2009
Maturity Date: July 1, 2009
Lender: Financial Federal Savings Bank

9. 62-Bed Alzheimer’s Facility Coming to Germantown - 3179 Professional Plaza
Germantown, TN 38138
Permit Amount: $5.6 Million

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

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

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

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


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

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

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


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

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

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


...

10. Malled by the Competition -

Editor's note: This is the third in The Daily News' five-part Retail Reinvented series about the past - and future - of the local shopping landscape.

Pat Jacobs knows a thing or two about Memphis malls. He served as general manager of Southland Mall for 18 years before taking the same job at Hickory Ridge Mall in 2003.

11. Archived Article: Real Recap - 1991 Corporate Ave

Texas Group Acquires Nonconnah Office Property

1991 Corporate Ave.

Memphis, TN 38132

Cost: $2.1 million

Buyer: JP Memphis LLC

Seller: Crown Dixie Associates LP

Property: 4.7 acres and an office building at 199...

12. Archived Article: Daily Digest - Cordova Shops

Cordova Shops

Financed for $3.3 Million

Cordova Ridge Shops LLC has financed a 2.15-acre parcel of property in phase four of the Cordova Ridge Planned Development for $3.3 million, according to The Daily News Public Records Da...

13. Archived Article: Real Estate Recap - Trezevant Adds New Phase to Shops of Collierville

Trezevant Adds New Phase to Shops of Collierville 875 W. Poplar Ave.

Collierville, TN 38017

Cost: $6.5 million

Borrower: Shops of Collierville LLC

Lender: National Bank of Commerce

...

14. Archived Article: Real Recap - 185 Progress Road

Collierville Board Approves J-Line Refinance 185 Progress Road

Collierville, TN 38017

Cost: $2 million

Borrower: Industrial Development Board of the Town of Collierville, Tenn.

Lender: Trust One Bank

Property: Lan...

15. Archived Article: Miller (lead) - New subdivision fills out bustling corner

New subdivision fills out bustling corner

By STACEY WIEDOWER

The Daily News

Perennial Building Group plans to break ground late next month on a subdivision that will add to the firms growing numb...

16. Archived Article: Marketplace - Sandwich shops Any way to slice it, sandwich shops on the rise Breaking bread (for sandwiches) more common in city Sandwiches shops rising to meet customer demands Newcomers want slice of Memphis sandwich business By LAURIE JOHNSON The Daily News If...

17. Archived Article: Faison Chg - Faison nears 85 percent Faison nears 85 percent leasing at The Commons By CAMILLE H. GAMBLE The Daily News Atlanta developer Faisonís limited partnership is nearing completion of its 12-anchor store shopping center The Commons on Giacosa Driv...