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Editorial Results (free)

1. Business Licenses Up 13.2 Percent Year to Date -

Year to date, business licenses are ahead of 2013’s pace but there were fewer licenses issued through the Shelby County Clerk’s Office in the third quarter of 2014 than from the same period in 2013.

2. Stonebridge Crossing Sells for $29.8 Million -

9135 Morning Ridge Road
Memphis, TN 38016
Sale Amount: $29.8 million

Sale Date: Sept. 11, 2014
Buyer: IRT Stonebridge Crossing Apartments Owner LLC
Seller: AB Merion Stonebridge LLC
Details: The 500-unit Stonebridge Crossing apartment complex in Cordova has traded hands.

3. Shelby County Home Sales Down 28 Percent in August -

Shelby County home sales plummeted in August when compared to the same month last year. Realtors sold 1,235 homes in Shelby County in August, down a staggering 28 percent from 1,705 home sales in August 2013, according to real estate information company Chandler Reports, chandlerreports.com.

4. Memphis Multifamily Sector on Firm Ground -

It was 2008 and Memphis-based Makowsky Ringel Greenberg had just acquired a swath of property inside Boyle Investment Co.’s master planned Schilling Farms community in Collierville for a new multifamily development.

5. Shelby County Home Sales, Prices Dip in July -

From 2008 to 2012, bank sales – or foreclosure sales – propped up what was an otherwise crumbling real estate market.

After several years of historically high bank sales, that inventory has finally thinned out and their months-long decline is impacting overall sales figures, according to several Memphis-area Realtors.

6. Bankruptcy Filings Drop Below 3,000 -

For the first time since 2011, the number of Memphis-area bankruptcies filed in the second quarter dropped below 3,000.

Between April 1 and June 30, the U.S. Bankruptcy Court for the Western District of Tennessee saw 2,959 bankruptcies in which the person or business listed a Shelby County address. That’s a 6.4 percent decrease from the 3,164 filed during the second quarter of 2013, according to The Daily News Online, memphisdailynews.com.

7. First-Quarter Business Licenses Up 21.8 Percent -

The number of business licenses issued by the Shelby County Clerk’s Office in the first quarter of 2014 was 21.8 percent higher than the same period in 2013.

From January through March of 2014, there were 1,630 business licenses issued, as compared to 1,338 for that time frame in 2013.

8. Shelby County Building Permits Down Slightly in February -

With bitterly cold temperatures lingering over the Memphis area last month, homebuilders pulled slightly fewer housing permits in February when compared to the same month last year.

Shelby County homebuilders filed 67 permits in February, down from 73 permits in February 2013 but up slightly from 64 permits filed in January, according to real estate information company Chandler Reports, www.chandlerreports.com.

9. Richmond Honan Buys Quince Centre for $10 Million -

6555 Quince Road
Memphis, TN 38119
Sale Amount: $10.4 million
Sale Date: March 7, 2014

10. 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.

11. Events -

Sales and Marketing Society of the Mid-South will meet Wednesday, Feb. 19, from 11:30 a.m. to 1 p.m. at The Racquet Club of Memphis, 5111 Sanderlin Ave. Susan S. Stephenson, co-founder, co-chairman and president of Independent Bank, will present “Make it Work Marketing: Sending a Message That Matters.” Cost for nonmembers is $30 at the door. Visit sms-midsouth.org.

12. Events -

Saint Francis Hospital-Memphis will host Zumba demonstration classes Tuesday, Feb. 18, and Feb. 25 from 3:45 p.m. to 4:15 p.m. and 4:45 p.m. to 5:15 p.m. in the hospital’s cafe, 5959 Park Ave. Visit saintfrancishosp.com.

13. Shelby County Business Licenses Decline 3 Percent -

From George’s Automotive to Uncle Floyd’s Tires, Wheel and Auto Accessories, automotive-related businesses were prominent among the 5,361 business licenses issued by the Shelby County Clerk’s Office in 2013.

14. Business Licenses Decline 3 Percent -

From George’s Automotive to Uncle Floyd’s Tires, Wheel and Auto Accessories, automotive-related businesses were prominent among the 5,361 business licenses issued by the Shelby County Clerk’s Office in 2013.

15. Business Licenses Decline 3 Percent -

From George’s Automotive to Uncle Floyd’s Tires, Wheel and Auto Accessories, automotive-related businesses were prominent among the 5,361 business licenses issued by the Shelby County Clerk’s Office in 2013.

16. Business Licenses Decline 3 Percent -

From George’s Automotive to Uncle Floyd’s Tires, Wheel and Auto Accessories, automotive-related businesses were prominent among the 5,361 business licenses issued by the Shelby County Clerk’s Office in 2013.

17. Developer Buys Land for Somerset Subdivision -

26.3 Acres near Neshoba
And Germantown Roads
Sale Amount: $1.5 million

Sale Date: Oct. 28, 2013
Buyer: Somerset-Exeter GP
Seller: Owen Investments LP
Loan Amount: $2.8 million
Loan Date: Oct. 28, 2013
Maturity Date: Oct. 28, 2016
Lender: Kent Wunderlich
Details: An entity related to Germantown-based developer McNeill Investment Co. has paid $1.5 million for 26.3 acres near the intersection of Germantown and Neshoba roads.

18. Cordova Village Retail Center Sells for $3.4 Million -

The Cordova Village retail strip center at 1315 N. Germantown Parkway has sold for $3.4 million.

19. Visible Music College Files $3.2 Million Loan -

200 Madison Ave.
Memphis, TN 38103
Loan Amount: $3.2 million

Loan Date: Aug. 30, 2013
Maturity Date:
Borrower: Visible Music College
Lender: Renasant Bank
Details: Visible Music College has filed a $3.2 million loan on its Downtown campus at 200 Madison Ave.

20. Doctor Files Loan on Chiropractic Clinic -

The owner of the Spinal Healthcare Associates, Cordova Pain Treatment Center at 8132 Country Village Drive in Cordova has filed a $1.4 million loan on the property.

21. City Budget Debate Shifts to Larger Issues -

When city leaders gathered last week for the groundbreaking of renovation work on the James Lee House in Victorian Village, the talk among them was bound to turn to the city budget season’s recent end.

22. County Business Licenses Dip 7.4 Percent -

The number of business licenses filed with the Shelby County Clerk’s office fell 7.4 percent to 1,415 in the first quarter, compared with 1,528 in the first quarter of 2012, according to The Daily News Online, www.memphisdailynews.com.

23. Bankruptcies Dip Slightly as Economy Improves -

The first quarter of 2013 showed a slight slump in West Tennessee bankruptcy filings as the economy improved.

All chapters combined – Chapters 7, 11 and 13 – declined to 3,031 Shelby County bankruptcies for the three-month period ended March 31, down 1 percent from 3,063 bankruptcies filed during the same three-month period in 2012, according to The Daily News Online, www.memphisdailynews.com.

24. Shelby County Business Licenses See Slight Decline -

The Shelby County Clerk’s Office issued 5,520 business licenses in 2012, a 4 percent drop from 2011, when 5,751 licenses were filed in the county, according to The Daily News Online, www.memphisdailynews.com.

25. Hickory Hill Warehouse Sells for $15.7 Million -

6380 Holmes Road Memphis, TN 38141

Sale Amount: $15.7 million

Sale Date: Dec. 5, 2012

26. MED Buys East Memphis Land for $3.4 Million -

6525 Quince Road Memphis, TN 38119

Sale Amount: $3.4 million

Sale Date: Nov. 16, 2012

27. Pennsylvania Company Buys Cordova Walgreens -

An affiliate of American Capital Realty has paid $3.8 million for the 15,048-square-foot Walgreens at 1943 Berryhill Road in Cordova.

28. Rheumatology Clinic Buys Germantown Office Building -

7660 Poplar Pike Germantown, TN 38138

Sale Amount: $986,850

Sale Date: Nov. 14, 2012

29. PLC International Files $1.4 Million Loan on Building -

Memphis-based PLC International Inc. has filed a $1.4 million loan through BrightBridge Inc. on the 67,538-square-foot strip center at 1150 N. Germantown Parkway (also known as 1140 Cordova Road) in Cordova.

30. Highpoint Church Buys Briarcrest’s East Memphis Campus -

After seven years of leasing space for its worship services, Highpoint Church has acquired Briarcrest Christian School Systems Inc.’s property at 6000 Briarcrest Ave. for $7.25 million.

31. Q2 Bankruptcies up 6.5 Percent -

Bankruptcy filings in West Tennessee increased overall in the second quarter of 2012, although Chapter 7 bankruptcies, filed by the most hard-pressed debtors, fell slightly, according to The Daily News Online, www.memphisdailynews.com.

32. Baptist Medical Group Acquires Cordova Clinic -

Baptist Medical Group, an affiliate of Baptist Memorial Health Care Corp., has partnered with Drs. Gregory K. Jenkins and H. Howard Nease to form Baptist Medical Group-Jenkins and Nease Internal Medicine.

33. Biz Licenses Drop 2 Pct. in Q1 -

The number of business licenses filed with the Shelby County Clerk’s office decreased by about 1.8 percent to 1,528 in the first quarter compared with 1,556 in first quarter of 2011, according to The Daily News Online, www.memphisdailynews.com.

34. March Home Sales Improve 18 Percent -

Mirroring the first quarter of the year, March home sales were up 18 percent with 1,263 recorded for the month compared to 1,067 in March 2011.

Year to date, home sales were up 20 percent from last year. March total sales revenue was up 14 percent from the same month last year with $147 million total for the month compared to $129 million.

35. Southland Sells Parcels To Bank For $1 Million -

A Downtown property that real estate investor Terry Lynch once planned for residential and retail space was sold back to the lender for slightly less than $1 million.

36. Thorpe Products Inks New Deal On Democrat -

Thorpe Products Co. is relocating its Memphis branch location to a site with higher ceiling heights and better proximity to its clients.

37. 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.

38. Real Estate Pros Figuring Out New Reality -

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.”

39. Drop in Bankruptcies Belies Economic Picture -

Although the total number of bankruptcies filed in Shelby County has slowly declined over the last three years, attorney Joseph Townsend with Fullen & Townsend Attorneys said fewer filings aren’t necessarily a sign that the economy is on the upswing.

40. Tennessee St. Office Bldg. Again in Foreclosure -

460 Tennessee St.
Memphis, TN 38103

Sale Amount: $3 million

Sale Date: Dec. 1, 2011

41. Former Cordova Schnucks Sells for $3.1 Million -

Memphis-based PLC International Inc. has bought a vacant 68,000-square-foot Schnucks supermarket at 1150 N. Germantown Parkway (also known as 1140 Cordova Road) from SM Properties Memphis LLC for $3.1 million.

42. Prolonged Recession -

In the words of Phil Woodard, an owner of multiple residential and commercial properties in Downtown Memphis, breaking even is the new profit.

Or as national real estate expert Jonathan Miller said earlier this month at the Urban Land Institute’s Real Estate Outlook for the Mid-South, “We cannot expect to make money the way we did a few years ago.”

43. Business License Activity Rises 14 Pct. in Q3 -

The number of businesses licenses filed with the Shelby County Clerk’s office increased by more than 14 percent to 1,592 in the third quarter compared with 1,391 in third quarter 2010, according to The Daily News Online, www.memphisdailynews.com.

44. Q3 Bankruptcies See Slight Increase -

The total number of bankruptcies filed in Shelby County rose slightly in the third quarter of 2011 (July 1 through Sept. 30), seeing a slight 1 percent increase compared to the same quarter last year.

45. Builders File 70 Permits in September -

September’s permit totals notched a double-digit increase year over year, much like the performance seen during the third quarter.

Shelby County homebuilders filed 70 permits in September, a 27 percent leap from September 2010’s 55, according to real estate information company Chandler Reports, www.chandlerreports.com.

46. Building Momentum -

Local homebuilders were busy in August, filing more permits than the same month a year ago.

Shelby County homebuilders filed 73 permits last month, a 21.7 percent increase from 60 filed in August 2010 and a 19.7 percent increase from 61 filed in July, according to real estate information company Chandler Reports, www.chandlerreports.com.

47. City’s Public Libraries have New Hours -

Beginning Monday, Aug. 1, the locations of the Memphis Public Library & Information Center will operate with new hours due to budget reductions.

The Benjamin L. Hooks Central Library will be open Monday through Thursday from 10 a.m. to 8 p.m., Friday and Saturday from 10 a.m. to 5 p.m., and Sunday from 1 p.m. to 5 p.m.

48. Business License Activity Improves 11.4 Percent -

The number of businesses licenses filed with the Shelby County Clerk’s office increased by more than 10 percent to 1,360 in the second quarter of 2011, up 11.4 percent from 1,221 in the second quarter of 2010, according to The Daily News Online, www.memphisdailynews.com.

49. County Bankruptcy Filings Fall Slightly -

The total number of bankruptcies filed in Shelby County has slowly declined over the last two years.

All chapters combined – Chapters 7, 11 and 13 – amounted to 2,904 Shelby County bankruptcies in the second quarter of 2011, down 1.2 percent from 2,939 in Q2 2010 and down 5 percent from 3,056 in Q2 2009.

50. Crye-Leike Signs Alliance with Kemmons Wilson -

Kemmons Wilson Cos. has recently built new condo communities in the Memphis area and named Crye-Leike Realtors Inc. as the exclusive real estate company to list and market those properties.

51. Bankruptcy Filings See Modest Q1 Decline -

At the height of the Great Recession, Memphis bankruptcy attorney Jimmy McElroy of Jimmy McElroy & Associates noticed a trend of older, more established individuals filing for bankruptcy, and he sees no signs of the trend slowing down any time soon.

52. Yogurt Craze Continues with TCBY Store -

A TCBY franchise has signed a 1,225-square-foot lease in University Center, 3445 Poplar Ave., at the southwest corner of Poplar and Highland Street.

53. Bankruptcy Trends Shift, Local Numbers Drop -

Bankruptcy attorney Jimmy McElroy, one of the Memphis court’s top filers, has noticed a recent change in local bankruptcy trends.

54. YMCA Buys Former Cordova Athletic Club -

7950 Club Center Drive
Cordova, TN 38018
Sale Amount: $2 million

Sale Date: Dec. 1, 2010
Buyer: YMCA of Memphis & the Mid-South
Seller: Cordova AC LLC
Loan Amount: $4.7 million
Loan Date: Dec. 1, 2010
Maturity Date: n/a
Lender: Regions Bank and Regions Equipment Finance Corp. (together, the beneficiary)

55. Elections to Look Different Under New Charter -

If a consolidation charter is approved by voters, those seeking offices in the new government would have nearly four years to make plans for the first elections.

Elections under a metro government would be much different than Shelby County elections, which include partisan primaries for non-judicial offices, or Memphis elections, which have no runoffs.

56. Business License Filings Down 15 Percent in Q3 -

Entrepreneurship in Shelby County dipped in the third quarter from the same period a year ago with the number of business privilege licenses decreasing by 15 percent.

There were 1,173 licenses that were either issued by new startups or renewed by existing businesses, according to The Daily News Online, www.memphisdailynews.com. That compares to 1,386 during the same period a year ago.

57. Foreclosures Hit Higher-Income Suburbs -

The rate of foreclosures in the suburbs surged during the third quarter, while the problem showed signs of ebbing in some of Memphis’ hardest hit neighborhoods, according to ZIP code data compiled by real estate information company Chandler Reports, www.chandlerreports.com.

58. MedVet Memphis Builds New Cordova Facility -

555 Trinity Creek Cove
Cordova, TN 38018
Permit Amount: $3 million

Permit Date: Applied August 2010
Completion: May 2011 (open Summer 2011)
Owner: MedVet Memphis LLC
Tenant: MedVet Memphis LLC
Architect: archimania
Contractor: Grinder, Taber & Grinder Inc.

59. Charter 411 -

The metro government charter, to be voted on Nov. 2, would combine the Memphis and Shelby County governments into one new local government.

The 49-page charter is the work of the 15-member Metro Charter Commission, which began in November and completed its work just weeks ago.

60. Memphians’ Love, Options For Sushi Continue to Grow -

Sushi, the Japanese preparation of raw fish and rice, was unheard of in the United States until after World War II, and then even until the 1970s was largely an exotic phenomenon of the West Coast.

61. Schoolhouse Shuffle -

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

62. Outlook Unsure -

Last week’s Commercial Property Forecast Summit painted a dour picture of the local real estate market, but the January numbers show that the commercial sector has a detectable pulse – at least for now.

63. NuVasive Files Permit to Renovate Southeast Memphis Facility -

4670 E. Shelby Drive
Memphis, TN 38118
Permit Amount: $1.6 Million

Project Cost: $1.6 million
Permit Date: Applied February 2010
Completion: TBA
Owner: NuVasive Inc.
Tenant: NuVasive Inc.
Contractor: Montgomery Martin Contractors LLC
Architect: Looney Ricks Kiss Architects Inc.

64. Commercial Sales Close 2009 on High Note -

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.

65. 2009 Bankruptcy Filings Up 2 Percent -

While he was at a free legal clinic last week, Memphis bankruptcy attorney Bruce Ralston struck up a conversation with a woman whose background would have made her a hot commodity once upon a time.

66. In-Rel Buys Former Comcast Building, Renames it “Quince Centre” -

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

67. Cedar Ridge Owner Files $2.8 Million Loan -

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.

68. High-Dollar Deal Boosts Commercial Real Estate -

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.

69. Q3 Biz Permit Dip Not as Steep -

Recession casualties in the business sector could be easing, according to the most recent numbers for privilege licenses in the greater Memphis area.

The number of business permits issued during the third quarter slipped by 2.8 percent from the same period a year ago, according to The Daily News Online, www.memphisdailynews.com. That compares to an 8.8 percent drop in the second quarter.

70. Netmakers Carry on Family Tradition -

The descendents of Bill Miller continue the craft of making nets that the Irish immigrant brought from Dublin to the shores of the St. Francis River in Arkansas four generations ago.

71. Kohl’s Repairs Storm Damage At Cordova Department Store -

2335 N. Germantown Parkway
Cordova, TN 38016
Permit Amount: $550,000

Project Cost: $550,000
Permit Date: Applied August 2009
Completion: August 2009
Owner: Kohl’s
Tenant: Kohl’s
Contractor: InStar Services Group LP

72. Gardens of Germantown Secures Funding to Build Alzheimer’s Facility -

3179 Professional Plaza
Germantown, TN 38138
Loan Amount: $8 Million
Loan Date: July 16, 2009


Maturity Date: Aug. 1, 2050
Borrower: Gardens of Germantown LLC
Lender: Deutsche Bank Berkshire Mortgage Inc.
Details: The developer of an Alzheimer’s facility called the Gardens of Germantown has filed an $8 million construction loan through Deutsche Bank Berkshire Mortgage Inc.

73. Victorian Village Restaurant Seeks CCDC’s Aid -

Memphis restaurateur Karen Blockman Carrier has applied for a $50,000 retail forgivable loan from the Center City Development Corp. in an effort to revive Mollie Fontaine Lounge, the restaurant she runs out of an historic Victorian Village home.

74. Collier Lincoln Mercury Dealership Sold Back to Bank -

2177 Covington Pike
Memphis, TN 38128
Sale Amount: $2.5 Million

Sale Date: May 22, 2009
Buyer: First Tennessee Bank NA
Seller: LaToya L. Williams, substitute trustee

75. Commercial Sector Limps Through April -

The commercial real estate sales volume slowed to a crawl in April, reaching only half of what it was the same month a year ago.

What’s worse, only three deals made it above the $1 million mark, and of those, one was an internal transaction and one was an apartment property that has had revolving owners in the past few years.

76. Foreclosures Slow After Subprime Spigot Begins to Trickle -

In the fight against foreclosure, even the smallest victories should be celebrated, from a family staying in its home to a predatory lender going out of business.

Go ahead and count the latest figures as another reason to cheer.

77. 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

78. Commercial Real Estate Slump Continues -

The start of spring brought the first sign of hope in the commercial real estate market.

But while March sales showed a decent gain over the previous month, the numbers were significantly down compared to the same month a year ago.

79. Business Licenses Reflect Uptick In Entrepreneurship -

Now might not seem like the best time to open a business, but Kat Semrau said opportunities can be found even during a recession.

She and her husband, Lorne, spent Sunday afternoon painting the inside of an old bank building at 117 S. Main St., where Art Under A Hot Tin Roof will begin selling paintings, pottery, jewelry and other items in early May.

80. Q1 a ‘Busy’ Time for Bankruptcy Filings -

If you live in the city of Memphis outside of the Interstate 240 loop, you likely live in or near a neighborhood whose real estate market has been scarred by heightened foreclosure activity. Another financial woe that goes hand in hand with foreclosure has hit those same neighborhoods hard.

81. Foreclosures Mellow in Q1 -

Shelby County’s usual spate of foreclosures appears to be slowing.

From every vantage point of the foreclosure process – the original foreclosure notice, the lender seizing property and the sale to a new owner – the numbers fell in the first quarter.

82. Former Cordova Applebee’s To Be Converted to IHOP -

1106 N. Germantown Parkway
Cordova, TN 38016
Sale Amount: $1.3 Million

Sale Date: April 2, 2009
Buyer: Hotcakes Cordova Venture LLC
Seller: Gourmet Systems Inc.
Loan Amount: $1.6 million
Loan Date: April 2, 2009
Maturity Date: Sept. 30, 2014
Lender: Branch Banking and Trust

83. Tight Credit Put Squeeze On ‘08 Commercial Real Estate Sales -

As with the residential sector, 2008 was a year to forget in commercial real estate, which suffered declining sales and endured a nationwide credit crunch throughout the year.

“The big storyline in ’08 was that lenders weren’t lending,” said Johnny Lamberson, senior vice president at CB Richard Ellis Memphis. “It put a real tightening on deals getting done. If deals weren’t highly leveraged, as the year went on it became harder and harder to get transactions closed because nobody was lending money.”

84. Commercial Real Estate Sales Down 18 Percent -

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.

85. 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.


...

86. Biz Licenses Up in Q3, Down From ’07 -

Business licenses in Shelby County were up in the third quarter compared to the second.

But the 1,501 licenses issued from July-September represented a drop of almost 300 from this time last year.

87. Events -

MPACT Memphis will meet for lunch today at noon at Flying Fish, 105 S. Second St. For more information or to R.S.V.P., contact Frank Langston at flangston@gmail.com.

Rhodes College will host a presentation by David Gillikin of Vassar College and David Goodwin of Denison University on their work with mussels today at 2:30 p.m. in Frazier Jelke B on the Rhodes Campus, 2000 North Parkway. For more information, call Kesler at 843-3557.

88. Builder Defies Housing Slump -

Someone forgot to tell Barry Watson about the housing slump. The owner of Eads-based Barry Watson Homes LLC is having a banner year, leading all Shelby County homebuilders in sales with 58 through the end of July. That’s far ahead of his 2007 sales pace, which was just 17. Watson also has led the county in sales during four of the first seven months of 2008, ranking near the top in the other three.

89. Commercial Real Estate Tumbles -

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.

90. Kemmons Wilson to Unveil Lifestyle Center -

Kemmons Wilson Communities on Saturday will unveil its newest "lifestyle community" to the public when it holds a grand opening for the Village at Schilling Farms, a 58-home subdivision in Collierville.

91. Steady Sales Volume Good News for Commercial Real Estate -

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.

92. Commercial Sales ActivityDrops in January -      Commercial sales in Shelby County began 2008 on a low note, posting a 12.4 percent decline in January compared to the same month in 2007, according to real estate information company Chandler Reports, www.chandlerreports

93. Archived Article -

1700, 1800 and 1820 N. Germantown Parkway
And 8110 Dexter Road
Sale Amount: $7 million

Sale Date: July 31, 2007

94. Archived Article -

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

Sale Date: July 20, 2007

Buyer: NatTennessee GP

95. No Dunkin' For These Doughnuts -

More than 300 people or businesses applied for new business licenses in June in Shelby County, representing a little more than 20 percent of those who filed licenses during the second quarter. During Q2, 1,458 licenses were filed with the Shelby County Clerk, according to The Daily News Online, www.memphisdailynews.com.

96. Spinal Business Moves to Spine of Cordova -

In about a week, when the doctors of Spinal Health Care Associates PC move to their new $2 million Cordova home, they won't be very far physically from their old locale - less than a mile, in fact.

97. Neither Time Nor Distance -

Soldiers like Norman Bryan Hooker were the tip of the spear the U.S. thrust into Germany's underbelly during World War II.

Hooker, killed by a sniper while fighting in the German town of Halle days away from his 20th birthday, was part of the Army's fearsome 104th Infantry Division. Nicknamed the Timberwolves, the division was renowned for its skill at fighting night battles.

98. Archived Article -

15 buildings in
Bartlett Industrial Park
Sale Amounts: $20.7 million; $9.4 million; $2.9 million; $1.5 million; and $1.2 million

Sale Date: May 17, 2007

99. Up, Up and Not Away -

Homeownership is supposed to be the American dream, but Steve Lockwood knows this isn't always the case - especially for those who seek counseling services at the Frayser Community Development Corp., where he serves as executive director.

100. More TIC Interests SoldFor Cordova Shopping Center -      Seventeen tenants-in-common investors have bought an interest in Cordova's Parkway Place shopping center in a $13.3 million deal, adding to the nearly 20 TIC investors who invested in the property in February.