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Editorial Results (free)

1. Commercial Real Estate Sales Up 6.1 Percent In March -

Shelby County recorded 208 commercial real estate sales in the first quarter, according to real estate information company Chandler Reports, www.chandlerreports.com.

2. Pahlow Wins Broker of the Year -

After enduring early struggles in his commercial real estate career, Scott Pahlow has reached the top of his industry.

Pahlow, an executive vice president with Newmark Grubb Memphis, was named Commercial Broker of the Year Thursday night at the Memphis Area Association of Realtors Commercial Council’s 13th annual Pinnacle Awards gala.

3. Industrial Portfolio Sells for $43 Million -

4550 Swinnea Road6005 Freeport Ave., 3399 E. Raines Road
Memphis, TN
Sale Amounts: $10.1 million; $14.8 million; $18 million

4. Industrial Portfolio Sells for $43 Million -

Affiliates of Plymouth Meeting, Pa.-based Exeter Property Group have paid a combined $42.9 million for a Memphis industrial portfolio.

The companies, in three separate special warranty deeds, bought the Memphis International Distribution Center at 4550 Swinnea Road in Oakhaven for $10.1 million, the warehouse at 6005 Freeport Avenue for $14.8 million and the warehouse at 3399 E. Raines Road for $18 million.

5. Georgian Woods Apartments Sell for $3.9 Million -

118 St. Agnes Drive
Memphis, TN 38112

Sale Amount: $3.9 million

Sale Date: March 14, 2014

Buyer: Georgian Woods Property Owner LLC

6. 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.

7. Galvanizing Company Files Permit for Facility -

3328 Fite Road
Millington, TN 38053
Permit Cost: $1.9 million

Project Cost: N/A
Permit Date: Applied March 2014
Completion: N/A
Owner: 3328 Fite LLC
Tenant: 3328 Fite LLC
Architect: N/A
Contractor: N/A
Details: An affiliate of Columbus, Ohio-based “hot dip galvanizing” company Voigt & Schweitzer LLC plans to construct a 63,120-square-foot facility near Millington.

8. Exeter Property Group Acquires Industrial Portfolio -

Exeter Property Group has acquired a 4.4 million-square-foot industrial portfolio – including four properties in Memphis – for $132 million.

Exeter recently acquired the properties located in Memphis, Nashville and Columbus, Ohio, from LNR Property LLC, a special servicer appointed to the portfolio upon its transfer from London-based Strategic Realty Advisors Ltd. in June 2013.

9. Galvanizing Company Files Permit for Facility -

An affiliate of Columbus, Ohio-based “hot dip galvanizing” company Voigt & Schweitzer LLC plans to construct a 63,120-square-foot facility near Millington.

10. ‘Never a Dull Moment’ in CRE for Hackmeyer -

After beginning the pursuit of a career as a pilot after graduating from the University of Alabama, Tanis Hackmeyer switched gears and delved into the world of commercial real estate.

“I believe that was one of the hardest decisions I’ve ever had to make and one of the best decisions I’ve ever made,” said Hackmeyer, managing partner at Hackmeyer Properties. “There were a few years where I still felt like I should be doing some flying, but I really was happy from the start that I made my decision.”

11. MalmoMemphis Completes Three Law Firm Leases -

Three Memphis law firms represented by MalmoMemphis Real Estate Inc. have renewed their office leases or leased new spaces.

12. Orpheum Files Permit For Performing Arts Center -

225 S. Main St.
Memphis, TN 38103

Permit Cost: $10.2 million

Project Cost: $14.5 million

13. Industrial Portfolio Sells for $17 Million -

An affiliate of Boston-based Taurus Investment Holdings LLC has paid close to $17 million for a 650,000-square-foot industrial portfolio on South Mendenhall Road in Hickory Hill.

14. Net Leases – Explained -

Many retail and industrial leases are structured as net leases, but what does “net lease” mean?

A “net lease” is a lease transaction in which the landlord receives a monthly payment composed of two items: first and foremost is the rent, net of the property operating expenses and secondarily a portion of real estate taxes upon the property, casualty/liability insurance upon the property and common area expenses for the property.

15. 13th Annual Pinnacle Awards On the Horizon -

Planning is well underway for the Memphis Area Association of Realtors Commercial Council’s 13th annual Pinnacle Awards ceremony, an evening dedicated to bringing commercial real estate industry professionals together and honoring them for their accomplishments in the previous year.

16. PILOT Reform -

Nike is in the midst of a $301 million expansion of its Northridge plant in Frayser, a project that means the Beaverton, Ore.-based company will create 250 new jobs and retain 1,600 existing local jobs.

17. FedExForum Area Targeted for Apartments -

Nashville-based Elmington Capital Partners apparently likes the apartment market in Downtown Memphis.

An Elmington-affiliated company plans on building a 64-unit apartment complex at 362 S. Second St., south of FedExForum.

18. City Council Reviews Raleigh Springs Mall Plan -

Memphis City Council members get their first public detailed look Tuesday, Feb. 4, of an “urban renewal” plan for the Raleigh Springs Mall.

The council meets at 3:30 p.m. at City Hall, 125 N. Main St. Follow the meeting @tdnpols, www.twitter.com/tdnpols.

19. 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.

20. LeSaint Logistics Expands Memphis Footprint -

Less than a year after arriving in Memphis, LeSaint Logistics is already expanding its operations here.

LeSaint entered the market in July when it leased an initial 57,285 square feet at 3300 Jet Cove inside Memphis International Airport Center. LeSaint is expanding its footprint by 34,015 square feet, a 60 percent increase.

21. Industrial Park Expansions Gaining Momentum -

Economic development officials should know the final scope of a planned expansion of Presidents Island within the next 30 days while the proposed growth of nearby Frank C. Pidgeon Industrial Park is moving forward.

22. Industrial Park Expansions Are Gaining Momentum -

Economic development officials should know the final scope of a planned expansion of Presidents Island within the next 30 days while the proposed growth of nearby Frank C. Pidgeon Industrial Park is moving forward.

23. Call Center ‘Gratifying’ for Local Office Sector -

Conduit Global’s announcement this week that it is locating a call center in Shelby County that will employ 1,000 people was a breath of fresh air for local office real estate professionals.

24. 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.

25. 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.

26. 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.

27. 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.

28. Midtown Medical Office Building Sells for $2.6 Million -

A partnership of two Utah-based companies has acquired a medical office building on Union Avenue near Overton Square.

Trivalis LLC and Novalis LLC, both based in Utah, acquired the medical office building built in 1967 at 2076 Union Ave., next door to the IHOP restaurant, for $2.6 million. The property, at the corner of Union Avenue and Florence Street, was appraised at $1.3 million in 2013, according to the Shelby County Assessor of Property’s office. The sellers, Missouri-based Roundabout Real Estate LLC and Visual Projects LLC, acquired the property in 2008 for $2 million.

29. Oakhaven Warehouse Sells for $1.2 Million -

4300 Air Trans Road
Memphis, TN 38118
Sale Amount: $1.2 million

Sale Date: Dec. 17, 2013
Buyer: Chob Realty LLC
Seller: Tenn Trans LLC
Loan Amount: $950,000
Loan Date: Dec. 19, 2013
Maturity Date: N/A
Lender: BankPlus
Details: The 109,626-square-foot warehouse at 4300 Air Trans Road in Oakhaven has traded hands for $1.2 million.

30. New Owner of Holmes Properties Files Loan -

The new owner of the Memphis Logistics I and II buildings at 5510 E. Holmes Road and 5540 E. Holmes Road has filed a $28.9 million loan on the properties.

31. Industrial Uptick Seen in Outer Counties -

The Memphis industrial market saw the return of speculative development in 2013 and an uptick in tenants seeking blocks of 500,000 square feet or more.

After suffering through a prolonged slump in industrial construction activity following the economic collapse and resulting recession, industrial development outside of Shelby County in the Memphis market roared back to life in 2013.

32. Cordova Creek Apartments Sell for $12.5 Million -

1175 N. Germantown Parkway
Memphis, TN 38016
Sale Amount: $12.5 million

33. MAA Chairman Joins Board of Miss. Real Estate Trust -

Eric Bolton, chairman and CEO of Memphis-based MAA, has been elected to the board of directors for a Mississippi-based real estate investment trust focused on industrial properties.

34. Industrial Portfolio Sells for $40.1 Million -

Three Class A warehouses totaling close to 1.9 million square feet in Southeast Memphis have been sold for a combined $40.1 million.

The Memphis Logistics I and II buildings at 5510 E. Holmes Road and 5540 E. Holmes Road and the warehouse at 4880 Tuggle Road were sold in two separate deeds in lieu of foreclosure that closed Dec. 16.

35. MAA Chairman Joins Board of Mississippi Real Estate Investment Trust -

Eric Bolton, chairman and CEO of Memphis-based MAA, has been elected to the board of directors for a Mississippi-based real estate investment trust focused on industrial properties.

36. Ruby Tuesday Sells Bartlett Lots for $1.1 Million -

8348 U.S. 64
Bartlett, TN 38133
Sale Amount: $1.1 million

Sale Date: Dec. 5, 2013

Buyer: 64 Kate Hyde Partners

37. MRG Sees Flurry of Activity at Marion Center -

In 2008, Memphis-based Makowsky Ringel Greenberg LLC developed The Shops of Angelos Grove retail center in Marion, Ark.

38. Fresh Market, Whole Foods Seek Approval From Boards -

Two planned high-profile grocery stores will be seeking regulatory approval in the coming weeks.

The Fresh Market is applying for a special-use permit from the Land Use Control Board Dec. 12 to convert the existing Ike’s store on Union Avenue into one of the chains upscale grocery stores.

39. Embassy Suites Memphis Sells for $24.8 Million -

1022 S. Shady Grove Road
Memphis, TN 38119
Sale Amount: $24.8 million

Sale Date: Nov. 15, 2013
Buyer: 1022 South Shady Grove LLC
Seller: 1022 Shady Grove LLC
Loan Amount: $22.6 million
Loan Date: Nov. 15, 2013
Maturity Date: N/A
Lender: Great American Life Insurance Co.
Details: An affiliate of Chicago-based hotel asset manager Lodging Capital Partners LLC has paid $24.8 million for the Embassy Suites Memphis hotel at 1022 S. Shady Grove Road in East Memphis.

40. Olymbec Acquires 13-Building Bellbrook -

Olymbec USA LLC has snatched up two more key Memphis properties, including the 1.8 million-square-foot Bellbrook industrial park.

41. Olymbec Acquires Bellbrook Industrial Park -

Olymbec USA LLC has snatched up two more key Memphis properties, including the 1.8 million-square-foot Bellbrook industrial park.

42. 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.

43. ‘Pro-Business’ -

The explosive population growth and business-friendly environment in DeSoto County have combined to transform its formerly sleepy suburbs into thriving retail and industrial development centers.

Today, Goodman Road looks more and more like a busy commercial strip in Memphis, and DeSoto County has become the favored location for large industrial developers.

44. ‘Pro-Business Environment’ -

The explosive population growth and business-friendly environment in DeSoto County have combined to transform its formerly sleepy suburbs into thriving retail and industrial development centers.

Today, Goodman Road looks more and more like a busy commercial strip in Memphis, and DeSoto County has become the favored location for large industrial developers.

45. Apartment, Retail Markets Holding Steady -

The Memphis area multifamily and retail markets continue to chug along, with the newer, more upscale products in each sector propping up both overall markets.

Those trends and others in commercial real estate will be the subject of discussion Thursday, Nov. 7, during the 2013 Commercial Real Estate Review & Forecast, one of six seminars in The Daily News’ 2013 Seminar Series.

46. Experts to Provide CRE Outlook at Seminar -

Class A office space in East Memphis reigns supreme, which should continue to drive up rental rates, while industrial developers are ramping up activity outside the city of Memphis.

Those trends and others in commercial real estate will be the subject of discussion Thursday, Nov. 7, during the 2013 Commercial Real Estate Review & Forecast, one of six seminars in The Daily News’ 2013 Seminar Series.

47. East Memphis Retail Center Sees Positive Lease Activity -

The Shops at Chickasaw Gardens, on Polar Avenue near the Benjamin L. Hooks Central Library, has seen good leasing activity recently.

Shark’s Fish and Chicken, an Arkansas-based restaurant chain, signed a lease for 2,330 square feet at 3183 Poplar Ave., taking the former Back Yard Burgers space. David’s Frames & Art renewed its lease for 3,080 square feet at 3151 Poplar Ave. Create A Cig, an electronic cigarette shop, will open soon at 3175 Poplar Ave.

48. Industrial Revolution -

Frank C. Pidgeon Industrial Park was completed in 1967, but it’s only now, four-plus decades later, that the property is finally realizing its full potential.

The 3,500-acre industrial park was developed when Memphis and Shelby County paid roughly $4.5 million to buy the land in the late 1950s after city, county and Port Commission leaders saw the need for a large industrial park following the creation of Presidents Island.

49. Panattoni’s Speculative Warehouse Underway -

In industrial development news, construction on Panattoni Development Co.’s speculative industrial building in Marshall County, Miss., is progressing.

50. 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.

51. Nike Files $4.3 Million Permit for Frayser Facility -

3100 New Frayser Blvd.
Memphis, TN 38128
Permit Cost: $4.3 million

Project Cost: $301 million
Permit Date: Applied September 2013
Completion: TBA
Owner: Nike Inc.
Tenant: Nike Inc.
Architect: N/A
Contractor: Wynright Corp.
Details: Nike Inc. has filed a $4.3 million building permit with the city-county Office of Construction Code Enforcement for work on its North Memphis distribution center at 3100 New Frayser Blvd.

52. Office Team Helps Colliers Expand Local Footprint -

As a part of the Colliers International office in Memphis’ growth strategy, the brokerage office has been expanding its presence in the office sector over the past year by adding a new office team consisting of Frazier Baker and Will Barden.

53. Baptist Begins Construction on $14.1 Million Pediatric ER -

Baptist Memorial Health Care Corp. began construction this week on a new pediatric emergency department at Baptist Memorial Hospital for Women.

54. Exeter Property Group Buys Adjacent Warehouses -

Affiliates of Pennsylvania-based Exeter Property Group have paid a combined $9.4 million for the warehouses at 3630 E. Raines Road and 3676 E. Raines Road in Oakhaven.

55. CREW Memphis Hosts State of the Market Report -

The Memphis chapter of Commercial Real Estate Women will host a lunch meeting Sept. 19 on the state of the local commercial real estate market.

Experts from CB Richard Ellis Memphis, an affiliate of CBRE Inc., will highlight the market for office, industrial and retail space, as well as investment properties. The State of the Market Report is sponsored by The Daily News and CBRE Memphis.

56. Handful of Projects on Horizon, but Construction Still Struggling -

Commercial real estate construction activity in the Mid-South perked up modestly this year following a sluggish 2011 and 2012, and industry execs are cautiously optimistic that the positive trajectory will continue through next year.

57. CREW Memphis Hosts State of the Market Report -

The Memphis chapter of Commercial Real Estate Women will host a lunch meeting Sept. 19 on the state of the local commercial real estate market.

Experts from CB Richard Ellis Memphis, an affiliate of CBRE Inc., will highlight the market for office, industrial and retail space, as well as investment properties. The State of the Market Report is sponsored by The Daily News and CBRE Memphis.

58. Slight Second-Quarter Uptick Bolsters Commercial Real Estate -

Despite posting lower numbers in some sectors for the second quarter, due primarily to the departures of Pinnacle Airlines and Technicolor, the local commercial real estate market is faring well in 2013.

59. Sharp Wears Many Hats at CBRE Memphis -

CB Richard Ellis Memphis’ Mary Sharp never has a dull day as the chief operating officer and head of the company’s Asset Services division.

60. Building Permit Filed for Volvo of Memphis -

7910 Trinity Road
Cordova, TN 38018
Permit Cost: $2.3 million

Project Cost: $3.5 million
Permit Date: Applied August 2013
Completion: Summer 2014
Owner: Wenco Properties LLC
Tenant: Volvo of Memphis
Architect: Fleming Associates Architects PC
Contractor: Grinder, Taber & Grinder
Details: The ownership group of Volvo of Memphis has filed a $2.3 million building permit for the company’s new dealership at 7910 Trinity Road in Cordova.

61. Raleigh Sam’s Club Sells for $11.4 Million -

2150 Covington Pike
Memphis, TN 38128
Sale Amount: $11.4 million

Sale Date: June 25, 2013
Buyer: Realty Income Properties 25 LLC
Seller: Dune SC Sub II LLC
Details: The Sam’s Club at 2150 Covington Pike in Raleigh has sold for $11.4 million to a California investor.

62. 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.

63. Presidents Island Property Sells for $1.1 Million -

2269 Channel Ave.
Memphis, TN 38106
Sale Amount: $1.1 million

Sale Date: July 15, 2013
Buyer: CHS Inc.
Seller: Holcim (U.S.) Inc.

64. Bumper Crop -

Unless you see the signs, it is hard to tell when you have crossed the Tennessee-Mississippi state line where Fayette County, Tenn., meets Marshall County, Miss., not too far from the southern city limits of Collierville.

65. LeSaint Logistics Leases Space Near Airport -

LeSaint Logistics LLC is entering the Memphis market, having recently leased 57,285 square feet at 3300 Jet Cove.

66. Barnhart Buys Industrial Property for Expansion -

2085 W. E. Freeman Drive
Memphis, TN 38114

Sale Amount: $2.6 million

Sale Date: June 27, 2013

Buyer: Barnhart Crane and Rigging Co.

67. Loeb Enjoying Strong Demand in East Memphis -

Pomp & Poise, a new gift store concept specializing in home and garden items, has signed a new lease at Park Place Center.

Pomp and Poise will occupy 1,400 square feet at the East Memphis retail center at the southwest corner of Park Avenue and Ridgeway Road.

68. Presidents Island Useable Space Could Double -

If the Memphis and Shelby County Port Commission can win a sizeable grant from the federal government, work to build railroad capacity on Presidents Island – which would eventually allow for the future development of up to 1,500 acres there – could begin in August.

69. Project Could Double Usable Space on President's Island -

If the Memphis and Shelby County Port Commission can win a sizeable grant from the federal government, work to build railroad capacity on Presidents Island – which would eventually allow for the future development of up to 1,500 acres there – could begin in August.

70. 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

71. Boyle Honors Past at 80th Anniversary Celebration -

If it seems like the Boyle family has played a key role in Memphis since the city was founded, it’s because it has.

A Boyle family ancestor, John Overton, founded Memphis in 1819 along with James Winchester and Andrew Jackson. In the early 1900s, Edward Boyle developed Belvedere Boulevard, which remains one of the city’s most elegant arteries.

72. Former Ike’s on Summer Sells for $2.7 Million -

4569 Summer Ave. Memphis, TN 38122

Sale Amount: $2.7 million

Sale Date: May 17, 2013

73. Building Relationships Key to Barden’s Success -

For Will Barden of Colliers International, cultivating his network of relationships is vital to his success over the past 16 years in the Memphis office real estate market.

74. Optimism Returns to Industrial Market -

Following the bloody recession and its brutal aftermath, one word has begun to creep back into the local industrial real estate lexicon: optimism.

“I wouldn’t say we’re out of the woods yet but there’s a bunch of positive momentum out there,” said Jim Mercer, executive vice president of brokerage services at CB Richard Ellis Memphis. “People are cautiously optimistic.

75. Changing Current -

The Uptown waterfront along the Wolf River Harbor – the area of the rejuvenated Uptown neighborhood that has for the most part been left out of the revitalization – could soon become a bustling waterfront village, according to a recently released master plan for the area.

76. Oakhaven Warehouse Sells After Foreclosure -

4120 Air Trans Road, Memphis, TN 38118

Sale Amount: $2.5 million

Sale Date: May 7, 2013

77. Construction Lending Still Facing Tepid Improvement -

As the economy starts to rebound, local lenders like Magna Bank, First Tennessee Bank and Renasant Bank are seeing moderate improvement in activity for new commercial and residential construction projects, and competition is intensifying to land deals.

78. Industrial, East Memphis Office Sectors Bolster CRE -

The local commercial real estate market is a tale of two sectors, with the industrial sector showing signs of improvement while the overall office sector – outside the prized East Memphis submarket – continues to struggle through the first three months of the year, according to recent reports.

79. 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.

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

6780 Country Park Drive Memphis, TN 38134

Sale Amount: $1.3 million

Sale Date: April 9, 2013

81. Landings Apartment Owner Files $8.7 Million Loan -

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

82. Canterbury Woods Owner Files Loan on Property -

The owner of the 400-unit Canterbury Woods apartments at 6520 Macon Road has filed a $9.8 million loan on the property.

83. Commercial Practitioners Have Voice With Council -

The Memphis Area Association of Realtors Commercial Council has grown and evolved over the past nine years since its inception, with membership increasing from 150 members in 2004 to more than 350 members this year.

84. Berclair Dollar General Sells for Almost $1 Million -

3443 Jackson Ave., Memphis, TN 38122

Sale Amount: $971,000
Sale Date: March 14, 2013
Buyer: VM Property Investments LLC
Seller: Ware Properties LLC
Loan Amount: $679,700
Loan Date: March 14, 2013
Maturity Date: N/A
Lender: US Bank NA
Details: The 9,160-square-foot Dollar General store at 3433 Jackson Ave. in Berclair has sold for $971,000.

85. Freeport, Raines Warehouses Sell for $19.4 Million -

Industrial properties at 6005 Freeport Avenue and 3399 E. Raines Road have sold for a combined $19.4 million in lieu of foreclosure.

86. Swinnea Warehouse Sold in Lieu of Foreclosure -

4550 Swinnea Road, Memphis, TN 38118

Sale Amount: $4.2 million
Sale Date: March 7, 2013
Buyer: JPMCC 2007-LDP10 – 4550 SWINNEA RD LLC
Seller: Industrial Memphis International Owner LLC
Details: The Memphis International Distribution Center at 4550 Swinnea Road in Oakhaven has sold for $4.2 million in lieu of foreclosure.

87. New York Firm Buys Distribution Center for $24.7 Million -

Gramercy Capital Corp. has acquired Hacks Cross Logistics Center Building 1 in Olive Branch for $24.7 million from Hillwood Investment Properties.

88. Boyle Celebrates 80 Years, Sponsors Art Exhibit -

Boyle Investment Co. turns 80 this year, and has partnered with the Memphis Brooks Museum of Art to celebrate.

89. Reappraisal to Impact Office Market -

For the first time in history, the property value of the once-every-four-year reappraisal is going down, and it has some commercial real estate property owners concerned.

Although how much the value decreases won’t be official until April 20, the first formal notices of 2013 Shelby County property values for taxation purposes were mailed at the beginning of this month to owners of commercial and industrial cost properties.

90. Gramercy Capital Acquires $25 Million Distribution Facility -

Gramercy Capital Corp. has acquired Hacks Cross Logistics Center Building 1 in Olive Branch for $24.65 million from Hillwood Investment Properties.

91. Apperson Crump Expands in Triad III -

Memphis’ oldest continuously practicing law firm is expanding its presence in Triad III.

Apperson Crump PLC added 2,037 square feet to its seventh floor space in a vacant adjacent area between Silverleafe Capital Partners LLC.

92. FedEx Headquarters Building Sells for $22.6 Million -

942 S. Shady Grove Road Memphis, TN 38119

Sale Amount: $22.6 million

Sale Date: Feb. 21, 2013

93. Commercial Professionals Achieve Designations -

Eleven members of local professional organizations in commercial real estate reached elite status in 2012 in their respective fields, which include the Memphis metro area’s appraisers, commercial brokers and property managers.

94. Patterson Warehouses Adds Space -

Patterson Warehouses Inc. is boosting its longtime local presence with a new lease in DeSoto County.

The renowned player in Memphis’ third-party logistics industry is leasing 237,952 square feet of Class A space in Marathon Distribution Center, 295 Marathon Way in Southaven.

95. Denver, Atlanta Companies Close on Second Purchase -

A partnership between real estate investment companies from Denver and Atlanta has closed on another industrial purchase in Oakhaven.

Operating as 3884 Crowfarn Drive LLC, Denver-based Amstar and Atlanta-based Huntington Industrial Partners bought a 158,175-square-foot industrial facility at 3810 Crowfarn Drive for $1.2 million.

96. FedEx Headquarters Building Sells for $22.6 Million -

The building that houses the corporate headquarters of FedEx Corp. at 942 S. Shady Grove Road in East Memphis has sold for $22.6 million.

97. Lower Property Values Sink Revenues -

The first formal notices of 2013 Shelby County property values in the once-every-four-years reappraisal for taxation purposes were mailed Monday, March 4, to owners of commercial and industrial cost properties as well as homeowners in Hickory Hill, Whitehaven and parts of Southwest Memphis.

98. Commercial Professionals Achieve Designations -

Eleven members of local professional organizations in commercial real estate reached elite status in 2012 in their respective fields, which include the Memphis metro area’s appraisers, commercial brokers and property managers.

99. California Company Buys Former Quebecor Facility -

828 E. Holmes Road Memphis, TN 38116

Sale Amount: $2.7 million

Sale Date: Feb. 15, 2013

100. Olymbec USA LLC Buys Again in Memphis -

Olymbec USA LLC has acquired 40,000 square feet of land and three small shed buildings totaling 12,000 square feet at 373 W. Brooks Road through a January auction from the Estate of George E. Smith for $50,600.