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Editorial Results (free)

1. Hickory Hill Warehouse Sells for $1.3 Million -

5837 Distribution Drive
Memphis, TN 38141

Sale Amount: $1.3 million

Sale Date: July 11, 2012

2. Walgreens Buyer Finances Purchase With $2.6M Loan -

WG Memphis Holdings LLC, the Hamilton, N.J.-based company that bought the Walgreens site at 6980 E. Holmes Road, has financed the purchase with a $2.6 million loan through Wells Fargo Bank NA.

3. Walgreens Site on Holmes Sells for $3.5 Million -

Hamilton, N.J.-based WG Memphis Holdings LLC has bought a Walgreens property at 6980 Holmes Road for $3.5 million, the same price seller Trio Investments LLC paid for it a decade ago.

4. Nursing Homes Sell For $30 Million -

200 South Parkway W.
Memphis, TN 38109

Sale Amount: $15.9 million

Sale Date: Jan. 10, 2012

5. Pleasant View Apts. Sells in Foreclosure -

Memphis-based WI Memphis LLC has bought the 259-unit Pleasant View apartment complex in Frayser for $1.7 million at a trustee’s foreclosure sale. The seller was Mark Turner, trustee, on behalf of The Maclellan Foundation Inc.

6. Nissan North America Renews Lease In SE Shelby -

Nissan North America Inc. has renewed its 413,000-square-foot lease in Southeast Shelby County.

7. JLS Enterprises Buys SE Market Warehouse -

A 51,000-square-foot industrial building in the Southeast submarket has traded hands. JLS Enterprises LLC purchased 4021 Delp St. in Airport Industrial Park for $850,000. The warehouse currently houses Coca-Cola Enterprises Inc. and is 100 percent occupied.

8. Davis-Kidd Owner Inks New Lease -

One of Memphis’ most celebrated booksellers is here to stay. The new owner of Davis-Kidd Booksellers signed a 22,000-square-foot lease Tuesday at 387 Perkins Road Extended in Laurelwood Shopping Center for 10 years as first reported in The Daily News. The lease will begin Friday.

9. Ark. Senate Panel Backs 3 Tax Cut Measures -

LITTLE ROCK, Ark. (AP) — A Senate panel on Monday backed Gov. Mike Beebe's proposal to cut Arkansas' grocery tax along with reductions in the used car and manufacturers' utility taxes, setting up a potential showdown with the House and Beebe over reductions in the state's revenues.

10. Chattanooga Investors Buy Third Memphis Property -

An out-of-town investment company has bought its third Memphis apartment complex in less than a year, bringing its total to 590 units.

Chattanooga-based UIGTN II LLC, a trio of partners whose name derives from the title of its management arm, Urban Investments Group LLC, paid close to $1 million on April 15 for the 172-unit Woodbriar Apartments at 4505 Wooddale Ave. in Oakhaven.

11. Rubin is Challenged on Role in Citi's Risk-Taking -

WASHINGTON (AP) - Robert Rubin, the former financial superstar once lionized for his global crisis-fighting prowess, was scolded Thursday over the mortgage-securities disaster at Citigroup Inc. when he was a top executive there. His claim he didn't know of the risks piling up drew a sharp retort.

12. 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.

13. Gov't Won't Fund GM After July 10, Official Says -

NEW YORK (AP) - A senior member of President Barack Obama's auto task force testified Wednesday that the U.S. government will not continue to fund General Motors Corp.'s operations if the automaker doesn't get approval to sell its assets to a new company within the next 10 days.

14. SEC Charging Ex-Countrywide CEO Mozilo With Fraud -

WASHINGTON (AP) - Federal regulators on Thursday charged Angelo Mozilo, the former chief executive of mortgage lender Countrywide Financial Corp., and two other company executives with civil fraud.

15. Fed Extends Wall Street Emergency Borrowing -

WASHINGTON (AP) – Federal Reserve officials said Wednesday it is extending its emergency borrowing program to Wall Street firms and is taking other steps to ease a severe credit crunch that has hobbled the national economy.

16. Fed Holds Rates Steady for Now -

WASHINGTON (AP) - With inflation moving higher on its worry list, the Federal Reserve held interest rates steady Wednesday, ending nearly a year of cuts to bolster the economy, and hinted that the next direction for rates could be up.

17. Bernanke: Banks Need to Bolster Risk Management -

WASHINGTON (AP) - Commercial banks and other financial institutions need to beef up their ability to detect and protect themselves against risks like the credit and mortgage debacles, Federal Reserve Chairman Ben Bernanke said Thursday.

18. Investment Firms Pull Back on Fed Borrowing -

WASHINGTON (AP) - Big Wall Street investment companies are pulling back on their borrowing from the Federal Reserve's emergency lending program.

A Federal Reserve report Thursday said those firms averaged $18.6 billion in daily borrowing over the past week. That compared with $22.6 billion in the previous week. It marked the fourth straight week where investment firms borrowed less from the central bank.

19. Investment Firms Pull Back on Borrowing -

WASHINGTON (AP) - Big Wall Street investment companies are pulling back on their borrowing from the Federal Reserve's emergency lending program.

The Federal Reserve says in a report Thursday that those firms averaged $24.8 billion in daily borrowing over the past week. That compares with $32.6 billion in the previous week.

20. Some Fed Policymakers Worried About 'Prolonged and Severe' Economic Downturn -

WASHINGTON (AP) - Worries about a deep recession - not a shallow one - drove Federal Reserve policymakers to slash a key interest rate last month, meeting minutes show.

Even as the Fed battled in almost unprecedented fashion to stem a widening credit and housing slump, some members fretted over the possibility of a "prolonged and severe" economic downturn. It was in that environment that they voted - with two dissents - to cut its most important interest rate by three-quarters of a percentage point to 2.25 percent. That action capped the most aggressive Fed intervention in a quarter-century.

21. Miami-Based Group Invests More in Memphis -

Geographically and culturally, South Beach is a long way from Beale Street, but that hasn't stopped a group of Miami investors from plunging into the Memphis multifamily market.

Miami-based Alterra Capital Group - whose principals are Matt Papunen, Adam Singer and Matthew Wanderer - recently bought a fourth apartment complex in Memphis, beefing up its local portfolio to $41 million.

22. Archived Article -

Airport Business Park
North of Democrat Road
Sale Amount: $13.8 million

Sale Date: Feb. 21, 2007

23. Musculoskeletal Conference Draws Ideas - and Deep Pockets -

To get an idea of how rapidly the bioscience industry has matured in Memphis, one good starting point is the annual Musculoskeletal New Ventures Conference (MNVC), which kicks off Tuesday at the FedEx Institute of Technology on Innovation Drive.

24. Musculoskeletal Conference Draws Ideas - and Deep Pockets -

To get an idea of how rapidly the bioscience industry has matured in Memphis, one good starting point is the annual Musculoskeletal New Ventures Conference (MNVC), which kicks off Tuesday at the FedEx Institute of Technology on Innovation Drive.