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Editorial Results (free)

1. ‘Significant Headwinds’ -

When Gov. Bill Haslam joined local economic development and civic officials at FedExForum in January to announce that Conduit Global would open a call center in Shelby County that would employ 1,000 people over the next three to five years, it provided a much-needed boost to the local office real estate sector.

2. Tile Shop Inks Lease for First Area Store -

A specialty retailer of high-quality tile will open its first location in Memphis later this year.

The Tile Shop is in the final stages of negotiating a roughly 20,000-square-foot lease at 1245 Germantown Parkway, between Cordova Road and Autumn Creek Drive, in the Germantown Square Shopping Center in Cordova, according to company representative Lindsey Rose.

3. Vote of Confidence -

After experiencing a strong fourth quarter in 2013, confidence in the Memphis office market remains high so far this year.

First quarter leases signed outnumbered tenant move outs and the Memphis market ended the quarter with 54,989 square feet of absorption, according to CB Richard Ellis Memphis.

4. 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.

5. Market of Riverdale Bend Sells for $6.2 Million -

7114-7186 Winchester Road Memphis, TN 38125

Sale Amount: $6.2 million

Sale Date: July 2, 2013

6. Market of Riverdale Bend Sells for $6.2 Million -

Four tenants in common have paid $6.2 million for the Market of Riverdale Bend shopping center on Winchester Road in Southeast Memphis.

The four buyers, shown in descending order of ownership percentage, are Peter Laspina Jr. (49.5 percent); 25-19 34th St. Realty Corp. (34.83 percent); Riverdale Center Investors LLC (14.67 percent); and Riverdale Market LLC (1 percent).

7. ‘Back to Life’ -

Memphis resident Geraldine Harris has been shopping at the Habitat for Humanity of Greater Memphis ReStore since it opened two years ago, finding discount prices and unique items she couldn’t locate anywhere else.

8. Big-Box Vacancies Prove Hard To Fill -

The closing of big-box stores in recent years belonging to the likes of Borders Group Inc., Circuit City Inc. and others has left suburban shopping centers around the country with lots of space to fill.

9. Essex Signs Two Leases For Discount Store Locales -

A Nashville-based discount retailer has entered the Memphis market in full force, inking two leases totaling 77,301 square feet.

Essex Bargain Hunt has leased 35,767 square feet at 590 N. Germantown Parkway and 41,534 square feet at 5124 Summer Ave. Kemp Conrad and Neely Mallory IV of Cushman & Wakefield/Commercial Advisors LLC represented the tenant in both transactions.

10. Pera, Lightman, Rainer V Take Top Pinnacle Awards -

The Memphis Area Association of Realtors Commercial Council honored the top performers in commercial real estate for 2011 at the 11th annual Pinnacle Awards gala, held Tuesday, April 24, at the Holiday Inn University of Memphis.

11. 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.

12. CRE Activity Stays Strong During 2011 -

Despite hard times, local commercial real estate firms were able to ink plenty of deals in the past 12 months.

Memphis’ industrial leasing activity kicked off in January when Buena Park, Calif.-based Pacific Logistics Corp. signed a 60,000-square-foot lease in ProLogis Park DeSoto for its first Memphis-area location.

13. 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.”

14. ‘Get In and Out’ -

In a local commercial real estate market where prices have plunged as much as 40 percent from 2007 peaks, special service companies are taking advantage of opportunities for buying distressed debt.

15. 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.

16. Tennessee Flea Market Closes -

The Tennessee Flea Market, the largest indoor flea market in Tennessee, closed its doors Sunday afternoon, leaving about 300 vendors without a place to market their products. The property managers called a meeting over the weekend and told vendors they must have their products out of the building by 5 p.m. Sunday, July 17, said Tiffany Greenlee, owner of The Candle Bakery and a vendor at the market.
The Small Business Chamber, some of whose members are vendors at the market, posted on its Facebook page Sunday that the initial manager had stolen $200,000 from the business and made other poor business decisions. The SBC also reported investors lost more than $700,000 and cannot continue to operate the business.
The vendors are being forced to leave the market even though some have paid rent through the end of the month.
“We all had paid rent for the month of July, so nobody received any of their money back. And for the ones who hadn’t paid, they were holding their stuff hostage until they paid, even though they were going to vacate,” Greenlee said.
One vendor who preferred to remain nameless said it was a good opportunity for small business owners, but he never wants to be a part of that situation again.
“It was pretty devastating for a lot of us,” Greenlee said. “It was like an incubator for small businesses to have a place to get started, and some vendors had to just pack up their stuff and leave, not know exactly where we were going to go.”
The Tennessee Flea Market opened in April with 600 vendors inside the old Kmart building near Winchester and Riverdale roads. It was Memphis’ first flea market scheduled to be open every weekend of the year.

17. Thrifty Real Estate - One area that has seemed to thrive in the recession is discount retailers, including thrift and dollar stores.

Low-cost operators, including nonprofit organizations like Memphis Goodwill Industries, are able to find more affordable property than in previous years. That’s because as market conditions have dropped, so has price per square foot, said Dave Leutwyler, Goodwill executive vice president.

18. Glencore Grain Buys Mendenhall Warehouse -

4834 S. Mendenhall Road
Memphis, TN 38118
Sale Amount: $6 Million

Sale Date: March 25, 2011
Buyer: Glencore Grain USA LLC
Seller: ProLogis NA2 Tennessee LLC

19. MSN of Memphis Files $1 Million Loan -

MSN of Memphis LLC has filed a $1 million loan through First Tennessee Bank NA for its 2,018-square-foot convenience store at 6970 E. Shelby Drive.

20. Real Estate Recycling -

If sustainability is defined as reuse of land and/or structures for new purposes, Hickory Hill may be the capital of the concept in Memphis.

Consider New Direction Christian Church, which found a home in a vacant big box store and now plans to transform a vacant and blighted apartment complex into a charter middle and high school with a performing arts center. The bulldozers began demolishing the Marina Cove apartments complex last month.

21. Pet Hospital Signs Lease at Corner Shops -

A new pet hospital is among the most recent tenants at The Corner Shops of Canada Road.

The Lakeland Pet Hospital signed a new 3,850-square-foot lease in the 32,500-square-foot center, at the northwest corner of U.S. 64 and Canada Road in Lakeland.

22. Second Street Building Gets Mixed-Use Makeover -

Developers are bringing a brand of apartments that has flourished on Downtown’s Main Street one block over with a $9.7 million project called Van Vleet Flats and Offices.

An extensive rehab has begun on the old warehouse at 109 S. Second St., at the northwest corner of Second Street and Gayoso Avenue.

23. Winbranch Apartments Sell for $2.4 Million -

3595 Millbranch Road
Memphis, TN 38116
Sale Amount: $2.4 million

Sale Date: Sept. 7, 2010
Buyer: Winbranch Realty Partners LLC
Seller: LBUBS 2004-C4 Millbranch Road LLC
Loan Amount: $975,000
Loan Date: Sept. 7, 2010
Maturity Date: Sept. 1, 2011
Lender: The Leshum Group LLC

24. Market at Riverdale Sells for $1.8 Million -

Riverdale Investors LLC has bought the Market at Riverdale shopping center from Market at Riverdale Bend HH LLC for $1.8 million. No loan documents were filed at the time of purchase.

25. Commercial Sales See Bump in October -

High-dollar transactions involving a wide range of properties – vacant land, a strip center, an apartment complex and a couple of warehouses – helped Shelby County’s commercial market register a relatively decent month by 2009 standards during October.

26. Wright Medical Buys Arlington Bldg. For Distribution Needs -

11481 Gulf Stream Ave.
Arlington, TN 38002
Sale Amount: $1.6 Million

Sale Date: Oct. 29, 2009
Buyer: Wright Medical Technology Inc.
Seller: Covington Furniture Manufacturing Co.
Details:  Wright Medical Group Inc. has bought a 56,340-square-foot building at 11481 Gulf Stream Ave. near its Arlington campus to increase distribution capacity. Operating in the transaction as Wright Medical Technology Inc., the company paid $1.6 million for the building, which was completed in 1973 and sits on 4.29 acres near the intersection of Tenn. 385 and U.S. 70.

27. Retail Center Sells Following Foreclosure -

The Market of Riverdale Bend, a three-parcel retail portfolio on Winchester Road in Southeast Shelby County, has sold for $4.8 million to an entity called Market at Riverdale Bend HH LLC following a foreclosure of the property. The parcels’ addresses are listed as 7110-7136 Winchester Road and are on the north side of Winchester between Riverdale and Riverdale Bend roads.

28. 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.

29. Foreclosure Set for Lots In The Market at Riverdale Bend -

A first-run foreclosure notice appears on Page 32 of today’s edition of The Daily News and at The Daily News Online, www.memphisdailynews.com, for three parcels in The Market at Riverdale Bend.

30. Le Bonheur Files Permit For FedExFamilyHouse -

918 Poplar Ave.
Memphis, TN 38105
Permit Amount: $5.2 Million

Project Cost: $5.2 million
Permit Date: Applied September 2009
Completion: Fall 2010
Owner: Le Bonheur Children’s Medical Center
Tenant: FedExFamilyHouse
Contractor: Montgomery Martin Contractors LLC
Architect: Looney Ricks Kiss Architects Inc.

31. Here Comes the Sun: Memphis’ cut of the state’s solar energy plan -

The Sharp Manufacturing plant in Hickory Hill has always been a symbol as much as a working part of the city’s economic infrastructure.

The plant on South Mendenhall Road represents the city’s first truly international big business presence. It opened in 1978 after Japanese executives came to Memphis to negotiate directly with city leaders. And once the deal closed, a now-legendary picket line was thrown up by local union leaders. The picketing symbolized organized labor’s determination to have a voice in local economic development.

32. Sept. Commercial Sales Drop 18% -

Shelby County’s commercial real estate market was highlighted by a wide variety – but a low volume – of transactions in September, revealing a continued slowdown because of the credit crisis and overall economic slowdown.

33. Florida Investor Buys SE Memphis Retail Center -

6990 Shelby Drive
Memphis, TN 38125
Sale Amount: Quitclaim

Sale Date: Aug. 1, 2008
Buyer: Gator Shelby Partners Ltd.
Seller: Shelby Square LLC
Loan Amount: $4.3 million
Loan Date: Aug. 1, 2008
Maturity Date: N/A
Lender: Bank of America NA
Details: Miami-based real estate investment firm Gator Investments, operating locally as Gator Shelby Partners Ltd., has entered the Memphis market with the acquisition of the Shelby Square retail strip center on the northeast corner of Riverdale Road and Shelby Drive.

34. Starbucks to Close Nine Area Stores -

SEATTLE (AP) – Starbucks Corp. has named all 600 company-owned stores it plans to close in a bid to boost its business and weed out unprofitable locations, including a number in the Memphis area.

The company announced 50 stores a couple of weeks ago, saying those stores would be closed by the end of July. Those include four stores in Alabama, seven in Minnesota and eight in California.

35. Errands 4 You Finds the Day's Missing Hours -

Pick up prescriptions from pharmacy.

Take packages to post office.

Drop off dry cleaning.

Return library books.

Pick up a few things at the grocery store.

Sometimes a person's list of errands can seem longer than the hours they have in a day. That's why Debbie Pekary decided to open her own business, Errands 4 You, which caters to people who just can't seem to get everything taken care of in a day.

36. 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.

37. Rowland Rises to Vice Chancellor Post at UTHSC -

The University of Tennessee Health Science Center has appointed Steve Rowland as assistant vice chancellor for business. He is responsible for overseeing and administering the Business Services Unit and auxiliary services such as printing, mail services and student housing. Rowland holds a Certified Purchasing Manager (CPM) designation from the Institute for Supply Management.

38. New York Investors Buy Market of Riverdale Bend -

7110-7136 Winchester Road
Memphis, TN 38125
Sale Amount: $14.5 million

Sale Date: Dec. 15, 2006

39. Winchester Court Sold To DLC Management Corp. -      DLC Management Corp. has bought Winchester Court shopping center near Winchester Road and Kirby Parkway in addition to eight other retail properties in Georgia, Florida and Alabama.
     Abou

40. Archived Article -

6420 Knight Arnold Road Ext.
Memphis, TN 38115
Sale Amount: $14.8 million

Sale Date: June 30, 2006

41. A Place to Stay - for Days and Days -

An Arkansas-based commercial real estate firm is adding two new hotels to Memphis' real estate landscape. More specifically, they're hotels of the extended stay, quasi-apartment variety.

Whitt Properties Inc. is building seven extended stay properties under the national Value Place brand in four states, two of which will be built in Memphis. One, at Riverdale Road and Tenn. 385, will open later this month. The other, at 5787 Shelby Oaks Drive, will open in early 2007.

42. Archived Article: Real Recap - Shelby Center

Shelby Square Sells for $6.6 Million

Shelby Square

near Shelby Drive

Cost: $6.6 million

Buyer: EIG Shelby Square LLC

Seller: Bennett V. York and Anderson-Tully Co.

Property: Shelby Square shopping center at Riverda...

43. Archived Article: Real - Southeast Shelby Home Sales Stable

Southeast Market Sees Steady Home Sales

LANCE ALLAN

The Daily News

Many factors have contributed to the development of Southeast Shelby County through the years, from the construction of Hickory Ridge M...

44. Archived Article: Real Recap - 4730 Riverdale

Phillips Edison & Co. Buys Gleneagles Court

4730 Riverdale Road

Memphis, TN 38141

Cost: $7.8 million

Buyer: Gleneagles Station LLC, c/o Phillips Edison & Co.

Seller: Monumental Life Insurance Co.

Property:...

45. Archived Article: Lead - Winchester Road Office Growing

Winchester Grows as Office Corridor

Germantown leaders push for high-tech development

LANCE ALLAN

The Daily News

Southeast Shelby County has been growing by leaps and bounds in recent years, and not just...

46. Archived Article: Weston (lead) - Weston notes

Briarcrest Office Project Gets Under Way

Weston Cos. responds to demand for medical office space

ANDY MEEK

The Daily News

David Peck, president and chief executive officer of Weston Cos., said the commercial real estate f...

47. Archived Article: Real Review - (03165883) The Shops of Chickasaw Gardens LLC financed $4

Keith and David Grant Homes LLC financed $1.5 million through First Tennessee Bank National Association, securing the loan with 10 lots in the Arlington Trace Subdivision, according to a t...

48. Archived Article: Daily Digest - Schnucks to close

Schnucks to close

Riverdale Road store

St. Louis-based Schnuck Markets Inc. will close its 5270 Riverdale Road store at 6 p.m. March 15. Its convenience store and fuel center on Riverdale will continue to operate.

Schnu...

49. Archived Article: Theater (lead) - Flagship theater brings Italian allure to city's core

Flagship theater brings Italian allure to citys core

By STACEY WIEDOWER

The Daily News

Malcos new flagship theater located on the former Service Merchandise site off Poplar Avenue in ...

50. Archived Article: Workers (lead) - Retailers freeze on seasonal hiring

Mid-South seasonal workers hit hiring freeze

By MARY DANDO

The Daily News

As retailers report a welcome surge in spending over the Thanksgiving holiday, the economic forecast suggests that belt-tighten...

51. Archived Article: Real Review - Mid-America announces

Mid-America announces

dividend prior to earnings

Mid-America Apartment Communities Inc. board of directors approved a quarterly dividend of 58.5 cents per common share payable on Oct. 31, to shareholders of record on O...

52. Archived Article: Walgreens (lead) - Walgreens starts Holmes/Riverdale store Walgreens investment growing in Memphis By LAURIE JOHNSON The Daily News Walgreens this week is continuing its press into the Memphis retail drug market, launching construction of one store and opening the doo...

53. Archived Article: Lead - By SUZANNE THOMPSON New billiard hall planned for center By SUZANNE THOMPSON The Daily News Clicks Billiards Inc., a Dallas-based entertainment company, will open its first Tennessee location in Memphis near Malcos Majestic Theater. The company oper...

54. Archived Article: Marketplace - By SUZANNE THOMPSON Habla Espanol? As the Hispanic population in Memphis continues to grow, businesses are finding an increasing need for bilingual workers By SUZANNE THOMPSON The Daily News Joe Harvell knows the importance of bilingualism. A gradua...

55. Archived Article: Marketplace St - By SUZANNE THOMPSON Habla Espanol? As the Hispanic population in Memphis continues to grow, businesses are finding an increasing need for bilingual workers By SUZANNE THOMPSON The Daily News Joe Harvell knows the importance of bilingualism. A gradua...

56. Archived Article: Market Briefs - A fourth Fazolis restaurant will open in Memphis Thursday at 6466 Poplar Ave A fourth local Fazolis restaurant will open Thursday at 6466 Poplar Ave. The franchise owner is Shane Coughlin. Other Fazolis restaurants are located on Riverdale Road and ...

57. Archived Article: Office Depot - Office Depot to open Office Depot to open new store Monday Office Depot Inc. will open its new superstore at Riverdale and Winchester roads on Monday as part of a record-setting month of store openings. The company will open a total of 57 stores in ...

58. Archived Article: 3q Retail (lead) - By STACEY PETSCHAUER Retail growth steady in third quarter '98 By STACEY PETSCHAUER THE DAILY NEWS Shelby County retail construction in the third quarter 1998 remained fairly even with the same period in 1997, according to building permits filed wit...

59. Archived Article: Fazoli's Lj - By LAURIE JOHNSON Fazolis to open second Memphis restaurant By LAURIE JOHNSON The Daily News The owners of the Memphis Fazolis franchise have started construction on a second restaurant in the area at 3587 Riverdale Road in East Memphis. The new sto...

60. Archived Article: Eyemasters Lj - By LAURIE JOHNSON EyeMasters to open third Memphis store at Cross Creek By LAURIE JOHNSON The Daily News EyeMasters plans to open its third Memphis vision care center this summer at 3525 Riverdale Road in the Cross Creek Shopping Center. The 3,800-s...

61. Archived Article: Crabs - By SUZANNE THOMPSON Two Joes Crab Shacks will open in fall By SUZANNE THOMPSON The Daily News Crab lovers in East Memphis will not have to go far to find a feast this fall, as Landrys Seafood Restaurants will open two Joes Crab Shacks, according to ...

62. Archived Article: Retail Chg - By CAMILLE H Retail trends are more big-box stores, less spec space By CAMILLE H. GAMBLE The Daily News Although Memphis has more retail space per capita than the national average, developers say the market is not overbuilt because of the types of s...

63. Archived Article: Boston Market Lj - lj 10/5 cates Boston Market begins Memphis blitz By LAURIE JOHNSON The Daily News Boston Market, a national restaurant chain that specializes in traditional home-style cooking, is coming to Memphis. Michael Forgus, chief development officer of BC Su...

64. Archived Article: Retail Chg - Retail construction up Retail construction starts hit high for decade in í96 By CAMILLE H. GAMBLE The Daily News The value of new retail construction in Shelby County was up 40 percent in 1996, with 71 permits totaling more than $63.8 million...

65. Archived Article: Malco - lj 10/5 cates Construction begins on Malcos largest theater to date By LAURIE JOHNSON The Daily News Construction has begun on Malco Theatres Inc.s largest movie house to date an 11-screen theater located on Winchester Road in East Shelby Countys ra...

66. Archived Article: Retail Chg - New retail construction New retail construction up from third quarter í95 By CAMILLE H. GAMBLE The Daily News New retail construction was up during the third quarter with more than $13 million in permits filed, compared to third quarter 1995 ...

67. Archived Article: Kimbrough Grove Lj - lj 10/5 cates Germantown road extensions make room for residential development By LAURIE JOHNSON The Daily News While opportunities for residential home building in Germantown have become increasingly few and far between in recent years, the extensi...

68. Archived Article: Retail Online - 7/3 jts retail construction Retail market construction up again in second quarter By JAMES SNYDER The Daily News Retail construction during the second quarter of 1996 was up way up compared to the previous quarter and the same period in 1995, accord...

69. Archived Article: Retail - 4-25 chg retail Retail construction up for first quarter By CAMILLE H. GAMBLE The Daily News Retail construction in Shelby County for the first quarter was up from the year-earlier period, according to building permits filed with the county building...

70. Archived Article: Lightman Dev - CHG 03-07 Lightman dev. Lightman begins development at Nonconnah, Riverdale Road By CAMILLE H. GAMBLE The Daily News Michael Lightman Realty Co. will break ground this week on a $30 million retail center at Riverdale and Nonconnah Parkway, one of se...

71. Archived Article: Real Analys - 1/2 real analysis Memphis retail, lodging outlook rosy for 96 Prospects for the local real estate market remain pretty much bullish on all fronts as we head into the new year, according to those who ought to know. Belz senior vice president Andrew G...

72. Archived Article: Power Shop Lj - lj 10/5 cates Power shopping: not just a joke Shopping centers make power play bigger stores pack a punch By LAURIE JOHNSON The Daily News In todays society, power is the word. Those in the business community are familiar with the terms power breakf...