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Editorial Results (free)

1. 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.

2. Mock Development Pitches Presented to Investors -

At first glance, the four sharks seemed pretty intimidating.

They sat in a row and watched the men in front of them with interest, weighing their options, considering their plans of action.

Then one of them cracked a joke and took a long pull out of a bottle of Bud Light and the mood lightened considerably.

3. 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.

4. Path Brings McKinnon Back to Initial Choice -

Andrea McKinnon’s fervor for the law was cultivated in middle school social studies classes.

“From a young kid, I always wanted to go to law school,” McKinnon said. “In fact, I thought I wanted to be a judge when I was a little kid. I’m not sure why, I think it was in sixth or seventh grade, I was fascinated with things about the courts and the Supreme Court. I sort of declared that that was something I was going to do later.”

5. Union Ave. Medical Office Financed for $1.8 Million -

Roundabout Real Estate LLC and Visual Projects LLC, both based in Missouri, have filed a $1.8 million loan through Renasant Bank secured by a nearly 16,000-square-foot medical office building at 2076 Union Ave.

6. Early Finance, Biz Interests Fuel Lamberson’s Career -

Christopher Lamberson, a new addition to the management committee at Glankler Brown PLLC, got interested in pursuing law as a career in a roundabout way.

7. Renaissance Avenue -

When Larry Schmitt bought a two-story building on the corner of Broad Avenue and Collins Street in 1993, he knew the place needed some TLC.

8. Archived Article - 2076 Union Ave.
Memphis, TN 38104
Sale Amount: $2 million
Sale Date: March 5, 2008
Buyer: Roundabout Real Estate LLC (2/3 interest); Visual Projects LLC (1/3 interest)
Seller: Lawrence Migliara
Loan Amount: $1.7 million
Loan Date: March 5, 2008
Maturity Date: N/A
Lender: Paragon National Bank
Details: A nearly 16,000-square-foot, two-story office building in Midtown currently leased to dialysis provider DaVita Inc. sold to two tenants-in-common investment entities. Roundabout Real Estate LLC, with a two-thirds interest, and Visual Projects LLC, with a one-third interest, bought the property from Memphian Lawrence Migliara. The office building was built in 1967; it sits on .84 acres at the northwest corner of Union Avenue and Florence Street. The Shelby County Assessor’s 2007 appraisal was $1 million.

3695-3723 Riverdale Road
Memphis, TN 38115
Sale Amount: $1.8 million
Sale Date: Feb. 29, 2008
Buyer: Germantown Plaza LLC
Seller: Germantown Plaza GP
Details: A 14,400-square-foot shopping center at 3695-3723 Riverdale Road in Memphis has sold to a Florida limited liability company. Germantown Plaza LLC, which lists an address in Oldsmar, Fla., bought the property from Memphis-based Germantown Plaza GP. Built in 1984, the neighborhood shopping center sits on 1.6 acres on the west side of Riverdale Road south of Winchester Road. The Shelby County Assessor’s 2007 appraisal was $929,500. In conjunction with the purchase, Germantown Plaza LLC on March 4 assumed a $1.26 million loan owned by Wells Fargo Bank NA as trustee. Germantown Plaza GP originally received the $1.35 million loan through Column Financial Inc. in June 2003.

3586 Riverdale Road
Memphis, TN 38115
Sale Amount: $1.4 million
Sale Date: March 4, 2008
Buyer: Cole SB Memphis TN LLC
Seller: Main & Main Development LLC
Details: Cole SB Memphis TN LLC, an entity affiliated with Camelback, Ariz.-based Cole Cos., has bought the Starbucks coffee shop at 3586 Riverdale Road in Southeast Memphis for $1.4 million. The recently completed, 1,853-square-foot coffee shop sits on the east side of Riverdale north of Winchester Road on an outparcel of the Riverdale Square shopping center. Main & Main bought the lot in July for $350,000. In conjunction with the most recent sale, Main & Main assigned its rights as landlord to Cole. The property is leased to Starbucks Corp., with the lease beginning Jan. 25 and running through 2018.


Source: The Daily News Online (www.memphisdailynews.com) and Chandler Reports (www.chandlerreports.com).­

...

9. Union Ave. Office BuildingSells for $2 Million -      A nearly 16,000-square-foot, two-story office building at 2076 Union Ave. leased to dialysis provider DaVita Inc. has sold for $2 million to two tenants-in-common investment entities.
     Ro

10. Real Estate Market Shapes County Fiscal Picture -

Shelby County Mayor A C Wharton Jr. heads to Nashville next month as one of the headline speakers at the Tennessee County Services Association's (TCSA) annual fall conference.

Meanwhile, the Shelby County Commission is discussing a limited moratorium on new development in the county. In a roundabout way, the two events are related.

11. On Shaky Ground? -

The development team that's building Flagship Condominiums on Mud Island still is tweaking plans for the project, which will be a continuation of the award-winning Harbor Town community.

But the finish line is getting closer. And once that happens, Flagship will have snatched up some of the last available waterfront on Mud Island, property near the Auction Street bridge that was once thick with trees. Part of the land also was the site of a massive landslide in 2002 and has been at the center of a variety of development schemes over the years.