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Editorial Results (free)

1. Walnut Hill Apartments Sells for $28 Million -

8920 Walnut Grove Road
Cordova, TN 38018
Sale Amount: $27.9 million

Sale Date: Aug. 28, 2014
Buyer: IRT Walnut Hill Apartments Owner LLC
Seller: 30 California-based limited liability companies
Details: The 324-unit Walnut Hill Apartments in Cordova has sold for $27.9 million to an entity affiliated with Philadelphia-based RAIT Financial Trust.

2. Reshaping a City, One Lot at a Time -

John G. Brittle Jr. doesn’t have an office. He has a war room. The space, crowded with maps, charts, books, piles of paper and marked-up spreadsheets, is ground zero for InfillNashville, the 10-person team of site selection specialists that Brittle leads at Village Real Estate Services.

3. 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.

4. Charlotte Firm Buys Mendenhall Warehouse -

4517 S. Mendenhall Road
Memphis, TN 38141
Sale Amount: $1.4 million

Sale Date: June 24, 2014
Buyer: TKC CLXXIX LLC
Seller: Tenn Thom Realty LLC
Loan Amount: $1.1 million
Loan Date: June 24, 2014
Maturity Date: N/A
Lender: First Tennessee Bank NA
Details: An affiliate of Charlotte, N.C.-based real estate development firm The Keith Corp. has paid $1.4 million for the 14,650-square-foot warehouse at 4517 S. Mendenhall Road in Hickory Hill.

5. Aren Investments Buys Winchester Haverty’s -

6870 Winchester Road
Memphis, TN 38115
Sale Amount: $1.1 million

Sale Date: June 2, 2014
Buyer: Aren Investments LLC
Seller: Kirsch Associates LP
Loan Amount: $850,000
Loan Date: June 2, 2014
Maturity Date: Nov. 15, 2015
Lender: BancorpSouth Bank
Details: Local real estate investment firm Aren Investments LLC has paid $1.1 million for the Haverty’s furniture store at 6870 Winchester Road in Hickory Hill.

6. Steak 'n Shake Locations Sell for $5.5 Million -

The two Memphis Steak ’n Shake restaurants at 8477 U.S. 64 and 4199 Hacks Cross Road have sold for a combined $5.5 million.

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. 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.

9. 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.

10. 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.

11. This week in Memphis history: November 29-December 5 -

2012: The Yorktown, a 257-foot cruise boat, left Memphis after a two-week stay on the Memphis riverfront because of Hurricane Sandy on the Atlantic Coast. Sandy caused the cruise ship to arrive in Memphis a week early. Meanwhile the Grand Caribe cruise ship was due the second week in December. The Queen of the Mississippi was in Memphis that Nov. 24 in advance of 24 scheduled stops in Memphis in 2013. The American Queen, the world’s largest steamboat, was due in its homeport of Memphis that Dec. 2.

12. 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.

13. Winchester Law Firm Inks Lease at Triad Centre -

The Winchester Law Firm is moving to a new space within the Triad Centre II office building in East Memphis with a new buildout.

The law firm will occupy 5,523 square feet in the Highwoods Properties office building at 6060 Poplar Ave.

14. Influence1 Files $2.6 Million Loan for Former Bishop Byrne -

1475 E. Shelby Drive
Memphis, TN 38116
Loan Amount: $2.6 million

Loan Date: Aug. 23, 2013
Maturity Date: Aug. 23, 2024
Borrower: The Influence1 Foundation
Lender: Regions Bank
Details: The Influence1 Foundation, the Memphis-based organization that bought the former Bishop Byrne High School in June, has filed a $2.6 million loan on the property, at 1475 E. Shelby Drive in Whitehaven.

15. Kroger-Anchored Center Sells for $14.6 Million -

4270 Summer Ave. Memphis, TN 38122

Sale Amount: $14.6 million

Sale Date: June 18, 2013

16. James Lee House Owner Files Construction Loan -

690 Adams Ave.
Memphis, TN 38105
Loan Amount: $1 million

Loan Date: June 4, 2013

Maturity Date: June 4, 2019

17. CLK Properties Files $1.6 Million Loan on Office -

Woodbury, N.Y.-based CLK Properties has filed a $1.6 million loan on its local office at 5545 Murray Road in East Memphis.

18. Oakhaven Warehouse Sells After Foreclosure -

4120 Air Trans Road, Memphis, TN 38118

Sale Amount: $2.5 million

Sale Date: May 7, 2013

19. New York Company Buys Country Squire for $49.2 Million -

8056 Country Squire Lane Cordova, TN 38018

Sale Amount: $49.2 million

Sale Date: March 28, 2013

20. Fairfield Inn Sells for $4.2 Million -

An entity related to GE Capital Real Estate has paid $4.2 million for the 89-unit Fairfield Inn & Suites Memphis at 4760 Show Case Blvd. near Interstate 240 and South Perkins Road.

21. J-Line Pump Growing in Collierville -

A local pumping equipment manufacturer is increasing its presence in the Collierville market. 

J-Line Pump Co., doing business as American-Marsh Pumps, bought the 81,260-square-foot warehouse on 12.4 acres at 550 E. South St. for $1.4 million. This will be in addition to the adjoining 110,000-square-foot warehouse at 185 Progress Road the company has occupied since 1999.

22. Hand Family Files Loan on Local Properties -

45 W. E.H. Crump Blvd.
Memphis, TN 38106
Loan Amount: $3.2 million

Loan Date: Feb. 4, 2013
Maturity Date: N/A
Borrower: The Hand Family Realty Co. LLC
Lender: JPMorgan Chase Bank NA
Details: The Hand Family Realty Co. LLC has filed a $3.2 million loan on its Memphis portfolio, including the Anheuser-Busch distribution facility at 45 W. E.H. Crump Blvd. south of Downtown.

23. Hand Family Files Loan on Local Properties -

The Hand Family Realty Co. LLC has filed a $3.2 million loan on its Memphis portfolio, including the Anheuser-Busch distribution facility at 45 W. E.H. Crump Blvd. south of Downtown.

24. Sekisui, Circa to Relocate Spaces -

Two East Memphis restaurants soon will have new addresses. 

Sekisui is moving from its original location in the Shops of Humphreys Center, 50 Humphreys Blvd., into Circa by John Bragg’s space in Regalia Shopping Center at 6150 Poplar Ave., suite 122. Circa plans to relocate west to Chickasaw Crossing, 2855 Poplar, in the space where Ronnie Grisanti’s restaurant operated for years.

25. Bioventus Inks Deal for 40,000 Square Feet -

A Durham, N.C.-based biologics company is relocating its Memphis presence, signifying a boon to the Northeast office submarket.

Bioventus LLC has inked 38,880 square feet of office and manufacturing space in Goodlett Farms Business Campus, 1900 Charles Bryan Road, in Cordova.

26. Corporate Avenue Building Sells for $1.2 Million -

1721 Corporate Ave. Memphis, TN 38132

Sale Amount: $1.2 million

Sale Date: Oct. 26, 2012

27. Connecting Tenants With Space Keeps Acker Robison Thriving -

For 11 years now, Acker Robison Realty has been helping businesses around the Memphis area with their commercial real estate needs.

The boutique firm, founded by Michael Robison in 2001, handles the full gamut of commercial brokerage services, representing landlords and tenants, purchasers and sellers in the office, industrial and retail sectors.

28. Snyder’s-Lance Signs Deal In Southaven -

A well-known snack food company has boosted its distribution presence in the Memphis area.

Snyder’s-Lance Inc. signed a 26,757-square-foot lease at Airways Distribution Center Building F, 8425 Airways Blvd., in Southaven.

29. Raines Road Warehouse Sells for $2.3 Million -

4049 E. Raines Road
Memphis, TN 38118

Sale Amount: $2.3 million

Sale Date: Aug. 3, 2012

30. MEPPI Files $155M Permit App For Rivergate Plant, Office -

2865 Riverport Road
Memphis, TN 38109

Permit Cost: $155 million

Permit Date: Applied June 2012

31. 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.

32. Former Mall Acreage to be Industrial Development -

Acreage on Former
Mall of Memphis Site

Sale Amount: $2.7 million

Sale Date: April 18, 2012

Buyer: Memphis Industrial Properties LLC

33. Unified Moves To East Pointe Biz Center -

An independent forensic engineering and investigations company has relocated its Mid-South Service Center to a more secure location.

Unified Investigations & Sciences Inc. has inked 8,565 square feet in East Pointe Business Center Building D, 3875 Vantech Drive. The Suwanee, Ga.-based tenant was previously located at 3955 Whitebrook Drive, where it serviced Arkansas, North Mississippi and West Tennessee.

34. 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.

35. Memphis Advantage -

As the industrial market approaches the end of the first quarter, a handful of deals have local brokers encouraged that the city’s bread-and-butter sector is poised for recovery.

Recent notable industrial leasing transactions – all of which occurred in Class A bulk warehouses – include Trane U.S. Inc.’s 625,000-square-foot lease in Chickasaw Distribution Center; Kimberly Clark Corp.’s 556,000-square-foot lease in Airways Distribution Center; and Impact Innovations’ 275,000-square-foot space at Southridge Corporate Park.

36. Downtown Mixed-Use Bldg. Sells for $1.5M in Foreclosure -

92-96 S. Main St.
Memphis, TN 38103

Sale Amount: $1.5 million

Sale Date: Feb. 10, 2012

37. Grinding it Out -

After most recessions, real estate bounces back.

But the Great Recession has been notably different – long, deep and very prolonged.

That’s the message Dr. John Gnuschke, director of the Sparks Bureau of Business and Economic Research and co-director of the Center for Real Estate at the University of Memphis, delivered in December at the Urban Land Institute’s Real Estate Outlook for the Mid-South.

38. Colliers Signs Baker to First Site in Tenn. -

Colliers International’s industrial team of Andy Cates, Preston Thomas and Mike Driscoll has inked 63 transactions this year. Here’s a rundown on a flurry of recent deals the trio has brokered.

39. Green Shoots -

As the local commercial real estate market approaches the end of 2011, experts say it appears to be in line with national fundamentals for secondary and tertiary markets.

Shelby County commercial sales in the third quarter were the highest sales volume since Q3 2007, with $259 million, according to real estate information company Chandler Reports, www.chandlerreports.com.

40. Capitoline Moves To SE Memphis Center -

A Rome, Ga.-based surface components manufacturer is relocating its distribution facility to the Southeast Memphis industrial submarket.

Capitoline Products has signed a 23,500-square-foot lease at 5805 Advantage Cove, confirmed the firm’s co-owner, L.G. Smith. The company is currently located off Lamar Avenue.

41. Nissan North America Renews Lease In SE Shelby -

Nissan North America Inc. has renewed its 413,000-square-foot lease in Southeast Shelby County.

42. Former C’ville Fitness Center Sells For $2.7M -

Memphis-based Hackmeyer Properties has bought the former Prairie Life Fitness Center at 3690 S. Houston Levee Road in Collierville from Prairie Life Fitness LLC for $2.7 million and is leasing the 57,264-square-foot facility to a new fitness company.

43. Two Tenants Join Ridgeway Center -

Boyle Investment Co. has inked a pair of new office leases at 999 S. Shady Grove Road in Ridgeway Center, building on its longevity with two local companies.

44. Boyle Adds 2 Tenants to Ridgeway Center -

Boyle Investment Co. has inked a pair of new office leases at 999 S. Shady Grove Road in Ridgeway Center, building on its longevity with two local companies.

45. Company Buys 11 Acres On Thousand Oaks -

NAI Saig Co. has negotiated a pair of investment sales in recent weeks. Corolla Management Corp. has purchased two sites totaling 10.6 acres on Thousand Oaks Cove from Bank of Bartlett for $925,000.

46. ITT Goulds Signs Lease In Southaven -

A Seneca Falls, N.Y.-based industrial pumping system manufacturer has inked a deal for a distribution center across the parking lot from its current space in Southaven.

ITT Goulds signed a 68,508-square-foot lease in Industrial Development International Inc.’s Stateline Business Park Building C, at 8890 Commerce Drive.

47. Substantial Deal Inked By Ontario-Based Manufacturer -

A substantial lease has been signed in a formerly distressed southwest Memphis industrial park that has made leaps and bounds since it was purchased by an out-of-town investor earlier this year.

KIK Custom Products, an Ontario-based manufacturer of national and retail brand consumer products, has signed a lease for 115,000 square feet in the Space Center Industrial Park, 265-353 Titan Drive.

48. Outer County Homes Appeal to Variety Of Buyers -

For the past decade or so, many homebuyers have settled outside the Shelby County limits, flocking to outlying counties such as DeSoto, Tipton and Fayette.

Driving factors run the gamut from better schools to lower taxes to rural appeal. Lisa Farmer, agent with RE/MAX On Track who specializes in DeSoto County, said it all comes down to a matter of preference.

49. The Burger Joint Joins Ridgeway Trace -

Another national burger chain is setting up shop locally, except this one selected Memphis as its entrance into the Tennessee market.

BGR The Burger Joint is the latest tenant to join Ridgeway Trace Center, the 347,358-square-foot development at Poplar Avenue and Interstate 240 anchored by Target, Best Buy, PetSmart and Sports Authority.

50. Atlanta Investment Group Buys Holiday Inn Select -

5795 Poplar Ave.
Memphis, TN 38119
Sale Amount: $7.5 Million

Sale Date: July 19, 2011

51. Thousand Oaks Owner Files $21.3 Million Loan -

Talcott III Thousand Oaks LP, the local affiliate of Hartford, Conn.-based Talcott Realty Investors, has filed a $21.3 million mortgage on Thousand Oaks Business Park. Talcott filed the loan July 20 through People’s United Bank.

52. Dollar General Building Store On Jackson In N. Memphis -

Plans for a new Dollar General store in the city’s North submarket are under way. Ware Properties LLC purchased 9,100 square feet of vacant land at 3433 Jackson Ave. from Hector Tejeda in May for $140,000, according to the Shelby County Register of Deeds. The Shelby County Assessor of Property’s 2011 appraisal of the parcel was $109,200.

53. Cordova’s Parkway Place Hits 100 Pct -

Two recent leases at Parkway Place Office have brought the center to 100 percent occupancy. Guardian Community Living LLC signed a 10,500-square-foot lease in the 70,000-square-foot office annex that is situated in Cordova.

54. 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.

55. Ridgeway Trace’s Success Fills ‘Huge Void’ -

A dramatic change to the retail landscape in East Memphis began in February of 2005 with one phone call.

Danny Buring, managing partner of The Shopping Center Group, made that call to the owner of the Ridgeway Trace Apartments, located on the southeast corner of Poplar Avenue and Interstate 240.

56. 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.

57. Black Equip. Supply Grows Memphis Presence -

Black Equipment Supply is relocating its Memphis presence to a space that nearly doubles the size of the firm’s former location.

The company will vacate its 14,000-square-foot space off Cherry Road and has signed a 25,372-square-foot lease at Shelby Air Park, 4570 Shelby Air Drive, suite 8.

58. Staples to Build First Memphis Location -

The world’s largest office products company will soon enter the Memphis market.

Framingham, Mass.-based Staples Inc. has signed a 17,945-square-foot lease at Ridgeway Trace, the shopping center at Poplar Avenue and Interstate 240 developed by Houston-based Weingarten Realty Investors.

59. 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.

60. Eastgate Sells for $31.5 Million -

The Eastgate Shopping Center on Park Avenue in East Memphis has sold to a Dallas-based entity for $31.5 million from Belz Enterprises Inc., according to documents filed with the Shelby County Register of Deeds.

61. Eastgate Sells for $31.5 Million -

The Eastgate Shopping Center on Park Avenue in East Memphis has sold to a Dallas-based entity for $31.5 million from Belz Enterprises, according to documents filed with the Shelby County Register of Deeds.

62. Loeb Buys Park Place for $10.3M -

Loeb Properties Inc. has bought Park Place Centre from Belz Enterprises Inc. for $10.3 million – the biggest retail transaction of the year.

63. Loeb Buys Park Place for $10.3M -

Loeb Properties Inc. has bought Park Place Centre from Belz Enterprises Inc. for $10.3 million – the biggest retail transaction of the year.

64. Stratos Move Another Example Of Downtown Trend -

While the future of the Downtown office market is hard to predict, there’s no doubt the persona of the submarket is changing.

On the heels of the Great Recession, some companies are rebranding for better visibility. Others are moving closer to their clients. And then there are companies like ServiceMaster by Stratos Inc., which did both.

65. IDB to Weigh Dalphis Move -

The Memphis-Shelby County Industrial Development Board on Wednesday will consider a three-year, $2.4 million tax break for Memphis window covering manufacturer Dalphis Holdings LLC.

66. IDB to Weigh Dalphis Move -

The Memphis-Shelby County Industrial Development Board this week will consider a three-year, $2.4 million tax break for Memphis window covering manufacturer Dalphis Holdings LLC.

67. Magnolia Homes to Build New Style in Winstead Farms -

Four Lots In Winstead Farms
Loan Amount: $971,250

Loan Date: Dec. 7, 2010
Maturity Date: Dec. 10, 2011
Borrower: Magnolia Homes Inc.
Lender: Regions Bank NA

68. IDB to Weigh Dalphis Move -

The Memphis-Shelby County Industrial Development Board this week will consider a three-year, $2.4 million tax break for Memphis window covering manufacturer Dalphis Holdings LLC.

69. Hunter's Ridge Apts. Sells for $2 Million -

WI Memphis LLC has bought the 141-unit Hunter’s Ridge apartment complex from Hunters Ridge Property Holder LLC for $2 million. The complex was built in 1972 and sits on 6.4 acres on the east side of New Allen Road in Raleigh, between Dillard Road to the north and Felton Road to the south.

70. Chipotle to Open First Memphis Locale -

A Mexican eatery will be the latest tenant to occupy space in one of Memphis’ most populated areas, where it is joining several corporate retail giants.

Chipotle Mexican Grill Inc. has leased 2,400 square feet of space in Ridgeway Trace center, 5963 Poplar Ave. It will be Denver-based Chipotle’s first Memphis-area restaurant.

71. Bartlett Applebee’s Sells to Arizona Investment Company -

2890 Bartlett Blvd.
Bartlett, TN 38134
Sale Amount: $1.9 Million

Sale Date: Oct. 8, 2010
Buyer: Cole AP Bartlett TN LLC
Seller: DBAPPLEF LLC

72. D. Canale Site Sells as Part of Hand Purchase -

45 E.H. Crump Blvd.
Memphis, TN 38106
Sale Amount: $4 million

Sale Date: Sept. 24, 2010
Buyer: The Hand Family Realty Co. LLC
Seller: D. Canale Beverages LLC
Loan Amount: $48.4 million
Loan Date: Sept. 27, 2010
Maturity Date: n/a
Lender: Branch Banking and Trust Co.

73. Canale Sells Property to Hand for $4 Million -

The D. Canale Beverages LLC property at 45 E.H. Crump Blvd. has formally sold for $4 million to The Hand Family Realty Co. LLC, an affiliate of Clarksville, Tenn.-based The Hand Family Beverage Co.

74. Two More Tenants Join Ridgeway Trace -

Weingarten Realty Investors on Thursday announced the addition of two tenants – Yogurt Mountain and SportClips – to its Ridgeway Trace retail center at Poplar Avenue and Interstate 240.

Yogurt Mountain will lease 1,500 square feet and SportClips will lease 1,125 square feet, officials with Houston-based Weingarten said in a release.

75. Ohio-Based Company Buys Land Slated for Strayer University Campus -

7275 Appling Farms Parkway
Memphis, TN 38133
Sale Amount: $603,788

Sale Date: July 6, 2010
Buyer: Se Testa Memphis LLC
Seller: Belz Investment Co. LP

76. Realizing Dreams -

William Adair’s quad-cab, four-wheel-drive pickup truck is splattered with mud. The office where he parks it out back, a converted country home at the corner of Tenn. 196 and U.S. 72, is littered with maps.

77. Deal 'Huge' For Office Real Estate Market -

The lease that sent Glankler Brown PLLC from Downtown to East Memphis was one of the most significant commercial real estate deals inked all year, even in a city known for its abundance of large industrial transactions.

78. Glankler Brown Departs Downtown -

Glankler Brown PLLC, a law firm that has been a Downtown mainstay for nearly a century, won’t renew its lease at One Commerce Square and will move to East Memphis.

79. CVS Inks Deal for Former MAHBA HQ -

CVS has chosen a busy stretch of Germantown Parkway in Cordova for its next area pharmacy.

The company’s regional developer, Redd Realty Services Inc., has inked a deal with Gill Properties to build a retail store on the site of the former Memphis Area Home Builders Association headquarters at 776 N. Germantown Parkway.

80. 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

81. Crews Buys Collierville Hampton -

1280 W. Poplar Ave.
Collierville, TN 38017
Sale Amount: $5.1 Million

Sale Date: May 11, 2010
Buyer: SGR LLC
Seller: Collierville Hotels GP
Loan Amount: $3.8 million
Loan Date: May 11, 2010
Maturity Date: May 11, 2015
Lender: First Citizens National Bank

82. Weingarten Files Permits for Ridgeway Trace Pads -

Houston-based Weingarten Realty has filed building permits with the city-county Office of Construction Code Enforcement to construct three structures at its 300,000-square-foot Ridgeway Trace retail development at Poplar Avenue and Interstate 240.

83. Hyneman Sells 3-acre Outparcel Of Lakeland’s Corner Shops -

2957 Canada Road
Lakeland, TN 38002
Sale Amount: $550,000

Sale Date: March 22, 2010
Buyer: A. Douglas Collins
Seller: Corner Shops LLC

84. Collins Buys Parcel In Lakeland’s Corner Shops -

Doug Collins has paid $550,000 for a roughly three-acre outparcel of the Corner Shops in Lakeland. The seller was Corner Shops LLC and the sale closed March 22.

85. American Esoteric Laboratories Buys Land for New Headquarters -

1701 Century Center Parkway
Memphis, TN 38134
Sale Amount: $2 Million

Sale Date: March 18, 2010
Buyer: Memphis Pathology Laboratory/American Esoteric Laboratories
Seller: Whitten Partnership Ltd.

86. Project Greenway -

There’s no doubt 2010 will go down as a watershed year for the Wolf River Greenway, the $28 million, 22-mile nature corridor that traces the Wolf River from Memphis’ eastern border to Downtown.

The team responsible for giving life to the Greenway – the city parks department, the Wolf River Conservancy and the Hyde Family Foundations – has achieved a pair of key milestones, both of which are being celebrated as the jumpstart this project sorely needed.

87. Lightman Files Permit for Retail Center -

7706 Winchester Road
Memphis, TN 38125
Permit Amount: $1 Million

Project Cost: $3 million
Permit Date: Applied January 2010
Completion: Late summer
Owner: Michael Lightman Realty LLC
Tenant: TBD
Contractor: Linkous Construction Co. Inc.
Architect: Al Davidson of Davidson LLC

88. EK Properties Files $2.6M Permit for Building -

EK Properties LLC has filed a $2.6 million permit application with the city-county Office of Construction Code Enforcement to build an office building on a vacant parcel near Bartlett. The permit lists an address of 1631 Century Center Parkway, but the Shelby County Assessor of Property lists it as 1591 Century Center Parkway.

89. Buena Vista Apartments in Frayser Foreclosed, Sold to Atlanta Company -

3431 N. Trezevant St.
Memphis, TN 38127
Sale Amount: $1.3 Million

Sale Date: Jan. 12, 2010
Buyer: Tritex Real Estate Advisors Inc.
Seller: Emily Bowman, successor trustee

90. EK Properties Files $2.8M Construction Loan -

EK Properties LLC, an entity related to Ewing/Kessler Mechanical Solutions, has filed a $2.8 million construction loan through First Tennessee Bank NA for a vacant parcel it owns at 1591 Century Center Parkway.

91. Migliara Buys Summer Avenue Retail Center from Las Vegas Owner -

6343 U.S. 70 (Summer Ave.)
Memphis, TN 38134
Sale Amount: $1.2 Million

Sale Date: Nov. 25, 2009
Buyer: Lawrence Migliara
Seller: Biz Point Property Group LLC
Loan Amount: $1.2 million
Loan Date: Nov. 25, 2009
Maturity Date: Dec. 5, 2014
Lender: Trustmark National Bank

92. PetSmart’s $1.2M Permit Filed for Ridgeway Trace -

Houston-based Weingarten Realty Investors has filed a $1.2 million permit application with the city-county Office of Construction Code Enforcement to build a PetSmart at the Ridgeway Trace shopping center in East Memphis. The 18,325-square-foot building’s formal address will be 5883 U.S. 72 (Poplar Ave.) according to the permit.

93. New York Investment Company Buys Shelby Grove Apartments -

6320 Gillespie Road
Memphis, TN 38134
Sale Amount: $4.7 Million

Sale Date: Nov. 11, 2009
Buyer: Flynn Realty & Development Shelby Grove LLC
Seller: MAC LP
Details: The 98-unit Shelby Grove Apartments at 6320 Gillespie Road near Bartlett has sold for $4.7 million to Flynn Realty & Development Shelby Grove LLC of Syosset, N.Y.

94. Troubled Frayser Apartment Complexes Land New Owner -

3081 St. Charles Drive
and 931 Frayser Blvd.
Memphis, TN 38127

Sale Amount: $2.2 Million
Sale Date: July 22, 2009
Buyer: Group 40 LLC
Seller: Whitney Frayser Manor Memphis LLC
Loan Amount: $1.5 million
Loan Date: July 21, 2009
Maturity Date: July 1, 2012
Lender: Madison Realty Capital LP

95. Diamond Int’l To Expand -

Change is coming to the northeast corner of East Brooks and Millbranch roads in Whitehaven, where Diamond International Trucks Inc. will double its size by taking over the former Chuck Hutton Toyota dealership.

96. Former Hutton Toyota Sells for $1.8M -

The former Chuck Hutton Toyota dealership at 1710 E. Brooks Road has sold for $1.8 million to Brooks Realty Partners, whose general partner, Richard “Dick” Sweebe, owns Mid-America International Trucks Inc. That company has a truck dealership at 1750 E. Brooks Road, next door to the Chuck Hutton property.

97. Loan Filed for Phase Two Of Centennial Gardens Apartments -

7751 Centennial Drive
Memphis, TN 38125
Loan Amount: $11.5 Million

Loan Date: Jan. 15, 2009
Maturity Date: Jan. 15, 2013
Borrower: Lightman Centennial Gardens Co.
Lender: SunTrust Bank

98. $1.7 Million Permit Filed for New Best Buy -

Weingarten Realty Investors has filed a $1.7 million permit application with the city-county Office of Construction Code Enforcement for a shell building and tenant finish-out for Best Buy Co. Inc.’s store at Ridgeway Trace. The new shopping center, anchored by Target Corp., sits on 30 acres at Poplar Avenue near Interstate 240.

99. 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.”

100. 100 South Main Partners Secure Project Financing -

100 S. Main St.
Memphis, TN 38103
Loan Amount: $9.5 Million

Loan Date: Dec. 23, 2008
Maturity Date: N/A
Borrower: 100 South Main Partners
Lender: SunTrust Bank