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Editorial Results (free)

1. Kroger Buys Union Space for Expansion -

Kroger has acquired the Belvedere Apartments in Midtown as part of a long-term project to reconfigure the grocery store’s antiquated and challenged layout.

Kroger Delta Division closed Wednesday, Sept. 12, on the 10-story apartment high-rise at 1733 Union Ave. from Belvedere Apartment Inc. The sale includes Belvedere’s attached and front parking areas.

2. Aren Buys SE Memphis Warehouse For $1.3M -

Trane U.S. Inc. has sold its parts distribution center in Southeast Memphis for $1.3 million.

Aren Investments LLC of Memphis acquired the 99,375-square-foot distribution warehouse at 4250 Concord Road. The company, which used a 1450 Massey Road address on the Shelby County Register of Deeds, financed the purchase with an $800,000 loan through BancorpSouth Bank. Igal Elfezouaty signed the trust deed as managing member of Aren.

3. 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.

4. Net Magan, Others Sued for Breach of Contract -

The parties involved in a $78 million real estate portfolio sale from 2005 now are going to court over what one group calls a breach of contract.

Distriplex Investors LLC has filed a $3.5 million breach of contract complaint in Shelby County Chancery Court against Net Magan Land GP One LLC, Net Magan Land Mezz LLC and Joseph Mizrachi, according to The Daily News Online, www.memphisdailynews.com.

5. PharMEDium Expected to Create Up to 250 Jobs In First Five Years -

Illinois-based pharmacy compounding company PharMEDium Healthcare Corp. has closed on nine acres of property in the Distriplex Farms industrial park south of Holmes Road and is moving ahead with plans to create a compounding facility in Memphis.

6. Archived Article -

5539 Elvis Presley Blvd.
Memphis, TN 38116
Sale Amount: $3.1 million

Sale Date: June 8, 2007

Buyer: ArciTerra DG Memphis TN LLC

7. Sitting Pretty -

For anyone who can't see how important FedEx is to Memphis' economy, Wyatt Aiken, senior vice president of Commercial Advisors LLC, paints the following picture:

"If Memphis wasn't a great distribution hub, FedEx wouldn't be here," he said, "and if FedEx wasn't here, we'd be Little Rock."

8. PharMEDium Buys LandFor Memphis Facility -      PharMEDium Healthcare Corp. is moving ahead with plans to create a Memphis compounding facility with the purchase of nine acres in Distriplex Farms industrial park. The company bought the land from Net Magan Land Owner O

9. Archived Article -

1885 Appling Road
Cordova, TN 38016
Cost: $5.9 million

Buyer: Net Magan Property Owner One LP

Seller: Farnsworth Distribution Properties Partnership

10. Distriplex Property Part of Farnsworth Sale -

5400 Distriplex Farms Drive
Memphis, TN 38141
Cost: $10.2 million

Buyer: Net Magan Property Owner One LP

11. Archived Article -

24 properties
and two leaseholds
Cost: $68.6 million

Borrower: Net Magan Property Owner One LP

Lender: Eurohypo AG

12. Farnsworth Investment Founder Looks to Future -

Farnsworth Investment Co.'s recent sale of its entire 28-building industrial portfolio signals a new beginning for the longstanding Memphis industrial real estate company.

The sale included just under 2 million square feet of industrial space and 169 acres of undeveloped land. But the company is not all that will experience change as a result of the deal. Company founder Tommy Farnsworth Jr. is scaling back his involvement in the industry after a 40-year real estate career.