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Editorial Results (free)

1. 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

2. Midtown Apartment Building Sells for $840,000 -

199 S. McLean Blvd.
Memphis, TN 38104
Sale Amount: $840,000

Sale Date: Feb. 21, 2014
Buyer: Zaki Holdings LLC
Seller: Colonial House LP
Loan Amount: $140,000
Loan Date: Feb. 21, 2014
Maturity Date: Sept. 1, 2015
Lender: Colonial House LP
Details: The 20-unit multifamily building at 199 S. McLean Blvd. in Midtown has sold for $840,000.

3. Two Hotels Sold in Lieu of Foreclosure -

The former Value Place extended stay hotels at 3913 Lamar Ave. and 1218 Winchester Road have sold for a combined $2.9 million via deeds in lieu of foreclosure.

4. October 18-October 24, 2013: This week in Memphis history -

2012: Case Management, a provider of outpatient case management services for the mentally ill, bought the four-story, circa-1973 airport area office building at 3171 Directors Row for $1.3 million from Directors Memphis LLC, a company based in Tacoma, Wash.

5. Oklahoma Hotel Group Buys Baymont Inn -

6020 Shelby Oaks Drive
Memphis, TN 38134
Sale Amount: $2.1 million

Sale Date: Aug. 6, 2013
Buyer: Champion Regional Development LLC
Seller: BRE/LQ Properties LLC
Loan Amount: $2.1 million
Loan Date: Aug. 7, 2013
Maturity Date: N/A
Borrowers: Sunny Management LLC; KNSB LLC; Jansa LLC
Lender: InterBank
Details: An affiliate of Oklahoma City-based Champion Hotels has paid $2.1 million for the 103-room Baymont Inn & Suites Memphis East hotel at 6020 Shelby Oaks Drive in Northeast Memphis.

6. Oklahoma Hotel Group Buys Baymont Inn -

An affiliate of Oklahoma City-based Champion Hotels has paid $2.1 million for the 103-room Baymont Inn & Suites Memphis East hotel at 6020 Shelby Oaks Drive in Northeast Memphis.

7. Decades After King’s Death, Memphis Jobs in Spotlight -

MEMPHIS (AP) – Decades after Martin Luther King Jr. was shot to death here, some of the striking sanitation workers who marched with him are again fighting for their jobs.

8. March 29-April 4: This Week in Memphis History -

2012: Pinnacle Airlines Corp. filed for federal bankruptcy reorganization after months of trying to reorganize the Memphis-based regional air carrier to compensate for a shift in the airline industry and a move away from the smaller capacity jets used by Pinnacle. It was a dramatic reversal for a company that in October 2010 became the anchor tenant of One Commerce Square. The reorganization plan was later scrapped for another reorganization plan that included Pinnacle moving out of Memphis effective May 2013.

9. Nashville Company Buys Wolf River Medical Building for $11 Million -

8040 Wolf River Blvd.
Germantown, TN 38138
Sale Amount: $11 million

Sale Date: Oct. 9, 2012
Buyer: HRT of Tennessee Inc.
Seller: Bayrock Investment Co. LLC
Details: HRT of Tennessee Inc., an affiliate of Nashville-based Healthcare Realty Trust Inc., has paid slightly less than $11 million for the medical office building at 8040 Wolf River Blvd. in Germantown.

10. MED Files $1.3 Million Permit for Improvements -

877 Jefferson Ave. Memphis, TN 38104

Permit Cost: $1.3 million

Project Cost: TBA

11. Lamar Avenue Super 8 Sells for $1.3 Million -

The Super 8 hotel at 4060 Lamar Ave. in Oakhaven near Memphis International Airport has traded hands for $1.3 million.

12. Privatization Thoughts Highlight Changes -

Here’s a roundup of what some of the city’s banks and bankers, investment professionals, mortgage brokers, asset management firms and other financial services shops have been up to in recent weeks.

13. Council Begins Bed Tax Discussion -

The first meeting of the Memphis City Council for 2012 offers some familiar issues and some new moves that point toward a break with the past in city operations.

The council meets Tuesday, Jan. 3, starting at 3:30 p.m. at City Hall, 125 N. Main St.

14. Overton Square Votes Dominate Meeting -

The Memphis City Council votes Tuesday, Dec. 20, on the redevelopment of Overton Square. At its last meeting of the year, the council will vote on a planned development for the south side of Madison Avenue at Cooper Street to be redeveloped by Loeb Properties Inc. The development includes a parking garage.

15. Bass Pro, Pyramid Project Grows -

The adaptive reuse of The Pyramid by Bass Pro Shops got about $105 million larger in scope this week.

The project now includes a $75 million city buyout of the county’s interest in the Memphis Cook Convention Center, $5 million more for what had been a $10 million city purchase of the Lone Star concrete facility by The Pyramid and a $25 million seismic retrofit of The Pyramid and the land bordering the Wolf River Harbor.

16. Keeping Pace -

The Tennessee chapter of the American Institute of Architects selected Memphis for its recent annual convention, not only because of the city’s history and entertainment but for its charming design.

17. American Queen Steamboat Will Call Memphis Home -

The city of Memphis now owns a $9 million interest in The American Queen steamboat, the only overnight cruise boat working the Mississippi River when it leaves its Memphis port in April.

When the U.S. Maritime Administration signed off on the sale of the massive steamboat to HMS Global Maritime and its Great American Steamboat Co. subsidiary this week, it was a milestone in a complex, fast-moving deal.

18. CVB Begins Convention Center Control -

The Memphis Cook Convention Center is now run by the same agency that already plays a direct role in bringing conventions to the city.

The July 1 start of the fiscal year means the Memphis Convention and Visitors Bureau will manage the center on a day-to-day basis under terms of a three-year contract.

19. Downtown Hotel Sells for $1.4M in Foreclosure -

Fort Myers Motel Group Inc. has bought a motel at 42 S. Camilla St. at a foreclosure sale from General Electric Capital Corp. for $1.4 million.

20. Lodging for Patients’ Families Increasing -

More hospitality options for out-of-towners seeking medical care in Memphis are on the way with the construction of two family lodging centers.

The $7.75 million American Cancer Society Harrah’s Hope Lodge is on schedule for an Aug. 27 finish date, while work on the $6.6 million FedEx Family House should be done by mid-November.

They will bring to five the number of hospitality lodges that offer people a free place to stay within and near the Memphis Medical Center district. The Memphis Grizzlies House, Ronald McDonald House of Memphis and Target House already serve families with children at St. Jude Children’s Research Hospital.

But people who come here to Le Bonheur Children’s Hospital have had to pay for motel rooms or sleep in patient rooms. The FedEx House will change that.

The Harrah’s Hope Lodge is for adult cancer patients receiving care at any Memphis hospital or oncology center.

“We did a needs assessment study in 2003,” said Leighanne Hart, capital campaign director for the Mid-South division of the American Cancer Society. “At that time, it was determined that we had over 2,000 patients coming into Memphis from the Mid-South and other areas to receive their cancer care and there was nothing for adult cancer patient care who have that need. We also learned that people were coming into Memphis and sleeping in their cars.”

Sixty- and 80-mile commutes can be a weary journey for patients receiving chemotherapy.

“The worst case is when a patient would just give up because they could not afford to come to Memphis and couldn’t afford a place to stay so they unfortunately did not receive their cancer treatment,” Hart said.

The Hope Lodge is already part of the Union Avenue streetscape. It is immediately east of Sun Studio.

The three-story structure was designed by Trivers Associates of St. Louis. The general contractor for the project is Brice Building Co. Inc. of Birmingham, Ala.

The first floor has common spaces including kitchens, a dining room, living room, patios and a screened-in porch. The second and third floors have a total of 40 patient suites for cancer patients and a guest/caregiver.

The American Cancer Society has raised $750,000 to cover the first three years of operating costs. Although the lodge is slated for completion at the end of next month, a date has not been set for when it will begin accepting guests.

“Our first position is a full-time director for the Hope Lodge facility,” Hart said. “We are currently looking for the right person for that job. It is a very important and a very big job.”

The American Cancer Society is looking to raise an additional $50,000 to cover construction add-ons to make the building more resistant to damage from earthquakes. The organization also expects to begin an endowment campaign for future operational funds once the building opens.

The Harrah’s Foundation, which is funded by the casino company Harrah’s Entertainment, gave $2 million to the building fund. The University of Tennessee Health Science Center donated the land.

The Plough Foundation and The Assisi Foundation of Memphis Inc. each gave $1 million.

“All hospitals and clinics within our community are supporting this very important endeavor,” Hart said. “There is nothing like this in Memphis, and this will be the 30th Hope Lodge in the country.”

The FedEx house is being built with donations from FedEx Corp., FedEx President Fred Smith and his wife, Diane Smith, and FedEx Chief Financial Officer Alan Graf and his wife, Susan Graf.

“This is really sort of a dream and vision of Susan Graf,” said Janet Phillips, executive consultant for Le Bonheur. “She is very involved with the Le Bonheur Club and has spent lots of hands-on time down here.”

The FedEx House is located on the north side of Poplar Avenue across the street from the new hospital. It is three stories and will have 24 suites.

Looney Ricks Kiss of Memphis is the project architect, while Montgomery Martin Contractors is the general contractor.

The FedEx House will be managed and operated by Wilton Hotel Management Co. Inc. The company also runs the Memphis Grizzlies House.

“The FedEx Family House is really going to offer such a great benefit in terms, not only a place to sleep, but in my mind a real nurturing environment,” Phillips said.

...

21. Finish Line in Sight for Renovation Of Memphis Business Academy -

3306 Overton Crossing
Memphis, TN 38127
Loan Amount: $1.9 Million

Loan Date: Feb. 23, 2010
Maturity Date: Feb. 23, 2013
Borrower: Memphis Business Academy
Lender: Regions Bank

22. Little Guys, Big Guys -

No one would mistake a local institution like Tri-State Bank for one of Wall Street’s mighty titans of finance, whose recent woes brought the U.S. and world economies to their knees.

23. Motel Owner Works to Reinvent Former Nuisance -

The former Motel 78 at 3896 Lamar Ave. in the heart of Oakhaven/Parkway Village has a new ownership group and a new name, the Real Value Inn. The goal now is to create a new image for the once-seedy hotel shuttered last year in a prostitution crackdown.

24. Quantum Hotels Borrows $1M for Lot -

Quantum Hotels LLC on Dec. 8 took out a $1 million loan through Landmark Community Bank for property at 9822 Huff n Puff Road in Lakeland. Pramudhbhai Patel and Pravien Patel, who listed themselves as managing members of the company, signed the trust deed.

25. Shuttered Motels Head to Court -

The owners of five Memphis motels that were closed last week as nuisances under Tennessee law are due in Shelby County Environmental Court today.

The closings by the Shelby County District Attorney General’s office and the Memphis Police Department Organized Crime Unit (OCU) are the latest in a prostitution crackdown called Operation Heartbreak Hotel. District Attorney General Bill Gibbons has urged the City Council to make it harder for the owners and others getting into the motel business to open their doors.

26. Two Bellevue Blvd. Motels Declared Nuisances -

Two of the motels shut down six weeks ago as part of an undercover sting dubbed "Operation Heartbreak Hotel" may be allowed to open in the future, though they were declared to be public nuisances.

Trials for the owners of The Lamplighter Motor Inn at 667 S. Bellevue Blvd. and The Bellevue Inn at 1250 S. Bellevue began Thursday in General Sessions Court in Judge Larry Potter's courtroom.

27. Events -

The Alliance for Nonprofit Excellence will host "Crisis Management and Disaster Planning for Nonprofits" today from 9 a.m. to 4 p.m. at the Assisi Foundation of Memphis, 515 Erin Drive. The cost to attend is $99 for Alliance members, $89 for Program for Nonprofit Excellence participants and $150 for nonmembers. For more information or to register, contact April DeBerry at 684-6605 or adeberry@npexcellence.org.

28. Events -

The Memphis Rotary Club will meet today at noon at the Memphis Cook Convention Center, 255 N. Main St. The speaker will be Winfield Dunn, former governor of Tennessee. Cost is $18 at the door. R.S.V.P. to Taylor Hughes, 526-1318 or taylor@memphisrotary.org.

29. Events -

The Shelby County Board of Commissioners will meet today at 1:30 p.m. in the first floor commission chamber of the Shelby County Administration Building, 160 N. Main St. For more information, call Chief Administrator Steve Summerall at 545-4301.

30. State Govt.: Civil Rights Board Must Have More Black Members -      A private foundation can continue running the museum on the site of Martin Luther King Jr.'s murder but must put more black members on its board of directors and open its management to wider public inspection, the State

31. King Family Getting Involved in Memphis Museum Dispute -

MEMPHIS (AP) - Martin Luther King III is joining critics who argue that the governing board of the National Civil Rights Museum, on the site of his father's death, is too closely tied to big business, a spokesman has said.

32. From Overton Park to Shelby Farms, Newman No Stranger to Conservancy -

Had he stopped with the famous case he helped win more than three decades ago, Charles Newman's legal career already would have reached a zenith other lawyers could only dream of matching.

As a young attorney in 1971, Newman fought Citizens to Preserve Overton Park v. Volpe all the way to the U.S. Supreme Court. The stakes were high; at issue was a decision by then-U.S. Secretary of Transportation John Volpe that would have seen the completion of Interstate 40 in Memphis slice through Midtown's Overton Park.

33. California Investors PlanTo Clean Up Brooks Inn -      An El Cajon, Calif., hotel company has bought the 236-unit Brooks Inn at 1533 E. Brooks Road - and has plans to overhaul the motel's reputation under the new name Budget Lodge of Memphis.
    &nbs

34. Archived Article -

3800-3810 Hacks Cross Road
Memphis, TN 38125
Sale Amount: $6.9 million

Sale Date: Jan. 24, 2007

35. Bed-and-Breakfast Owners to Seek Rezoning for Sale, Expansion -

When Steve and Katherine Mistilis decided to sell the bed-and-breakfast they've operated in Cordova for about 11 years, they made an irksome discovery.

Even though they'd always been given a business license to operate their B&B, an off-the-beaten path, 3,000-square-foot brick home originally built more than a century ago, somewhere along the line the zoning for their land had been changed. Which means using their property for a B&B apparently is not permitted.

36. Shelby Drive MotelSells for $1.3 Million - Om Shree Sairam LLC has purchased a 46-unit motel at 1952 E. Shelby Drive from PNS Management LLC for $1.3 million. Formerly a Super 8 Motel, the two-story property now is branded Colonial Inn & Suites. The sale was financed through a $1.3 million wr

37. Archived Article: Hotels (lead) - While concerned that Church of God In Christ might break

Hotels Reach Limit for Convention Perks

Concessions could strip events profitability, hoteliers say

ANDREW BELL

The Daily News

While concerned that Church of God In Christ might...

38. Archived Article: Daily Digest - DA's office closes Bellevue Inn

DAs office shuts down

crime-riddled Bellevue Inn

The Shelby County District Attorneys Office, the Memphis Police Department vice and narcotics unit and the West Tennessee Violent Crime Drug Task Force served ...

39. Archived Article: Benchmark - Thomas & Betts Corp

Thomas & Betts Corp. settles

consolidated class action lawsuit

The U.S. District Court for Western Tennessee recently approved a settlement of the consolidated securities class action lawsuits pending against Tho...

40. Archived Article: Nba (lead) - Legislators hear NBA financial assumptions Financing NBA reaches state lawmakers ears By SUE PEASE The Daily News A ballroom at the Peabody hotel Friday was filled with city council and county commission members and state legislators who listened to...

41. Archived Article: Market Briefs - The Greater Memphis Association for Quality is hosting a get-to-know GMAQ session at 7:30 a The Greater Memphis Association for Quality is hosting a get-to-know GMAQ session at 7:30 a.m. March 29 at the Fogelman Executive Conference Center, 330 Delo...

42. Archived Article: Graphic ($1mill) - Million-dollar babies Million-dollar babies April was not as prolific for construction of new projects valued at more than $1 million as April 1999, but several large projects were started during the month. A new $2.8 million athletic facility for B...

43. Archived Article: Real Review - Real Review 02-07-00 Real Review 02-07-00 St. Louis-based Walpert Properties has acquired two Memphis shopping centers. Peach Tree Center and Timber Creek Plaza Shopping Center have been purchased by the company, one of St. Louis fastest growing com...

44. Archived Article: Gov't Focus - Union Avenue hotel Union Avenue hotel scheduled for facelift By KATHLEEN BURT The Daily News A sight that greets those entering the Medical Center District from Downtown by way of Union Avenue is the subject of a tax freeze request. Allad Investment...

45. Archived Article: Real Fcs (desoto) Lj - By LAURIE JOHNSON DeSotos diamond Construction has begun on the new DeSoto County Civic Center, a project expected to accommodate a variety of events and spur commercial growth By LAURIE JOHNSON The Daily News Work crews have descended on DeSoto Cou...

46. Archived Article: Hotels - When industry leaders are faced with a labor shortage, most people dont expect them to react with excitement. Hospitality industry creates partnership to counter labor shortage By STACEY PETSCHAUER The Daily News When industry leaders are faced with...

47. Archived Article: Desoto Cvc Cntr Lj - By LAURIE JOHNSON DeSoto Civic Center groundbreaking set for Friday By LAURIE JOHNSON The Daily News After more than five years on the drawing board, the DeSoto County Civic Center is about to start becoming a reality. Members of the DeSoto County C...

48. Archived Article: Law Focus - Buying and selling a hotel or motel: Buying and selling a hotel or motel: Early planning can lead to a successful transaction By W. Joseph Aldridge Special to The Daily News The sale of hotels and motels is one of the few real estate transactions th...

49. Archived Article: Marketplace Chg - Women are traveling more than ever for business purposes, and some travel companies are launching programs to meet the needs of the growing number of women business travelers Women on the go Programs offer advice to growing number of women business ...

50. Archived Article: Desoto Cvc Cntr Lj - lj 10/5 cates DeSoto Civic Center may have $10 million impact By LAURIE JOHNSON The Daily News The majority of DeSoto County voters agreed on Tuesday that the time was right to build a county civic center voting by a 20 percent margin in support of ...

51. Archived Article: Govt Fcs (ccc) Lj - lj 10/5 cates Mayors budget funds for new convention center, but more may be needed By LAURIE JOHNSON The Daily News Funds allotted by Memphis and Shelby County leaders have brought the citys new convention hall one step closer to becoming reality a...