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Editorial Results (free)

1. Arizona Real Estate Firm Buys Storage Facility for $3.8 Million -

An Arizona-based real estate firm has acquired a Memphis mini-storage facility for $3.8 million.

Phoenix-based AMERCO Real Estate Co. bought the American Mini Storage facility at 7399 U.S. 64 from 7399 US Highway 64 Holdings LLC, which is affiliated with Florida-based LNR Partners Inc., for $3.8 million, according to a Feb. 24 warranty deed.

2. Memphis Equipment's Roots Go Back to World War II -

To most Memphians driving past the Memphis Equipment Co. front lot on South Third Street near E.H. Crump Boulevard, the company appears to be a small lot of vintage U.S. Army vehicles.

3. Housing Crash Sends Beeson Into Commercial Real Estate -

Jacque Beeson entered the world of real estate when she was 19-years-old, working as an assistant to a homebuilder developing subdivisions. She stayed in the residential sector for 17 years, until the local housing market bottomed out in 2010.

4. No Thanks! Companies Reject ‘Shark Tank’ Deals, Still Thrive -

NEW YORK (AP) – With the cameras rolling, Daniel and Stephanie Rensing accepted an offer from a "Shark Tank" investor. But after they had time to think about it, they changed their minds.

5. Flexing Its Muscles, LA Fitness Eyes Third Store -

LA Fitness is eyeing a property in the heart of East Memphis for its third Memphis-area location.

The California-based fitness center chain is considering opening its third store in the Memphis market at 1285 Ridgeway Road, according to sources.

6. US Home Sales Plunge 4.9 Percent in January -

WASHINGTON (AP) – U.S. home sales struck a snow drift in January, plunging to the slowest pace in nine months.

The National Association of Realtors said Monday that sales of existing homes tumbled 4.9 percent last month to a seasonally adjusted annual rate of 4.82 million. That brings sales down to their lowest level since April 2014.

7. Ready to Spend -

Elizabeth Moss is in the middle of a total kitchen renovation at the Hendersonville home she bought on August 4, 2013.

8. City Wants Urban Land Institute to Review of Fairgrounds -

City Housing and Community Development Director Robert Lipscomb wants the Urban Land Institute to “review, evaluate and issue recommendations” on the Wharton administration’s Fairgrounds redevelopment plan after leading a set of public hearings and discussions that would take place over a five-day period.

9. Sprouts Opening Lakeland Store May 13 -

Sprouts Farmers Market, a fast-growing specialty grocery chain, has set an opening date for its first Memphis-area store.

Phoenix-based Sprouts, which replicate the look and feel of an indoor farmers market and specialize in fresh, organic and healthy food, will open a 28,000-square-foot store in a former Kroger at 9050 U.S. 64 in Lakeland on May 13.

10. Comfy Camping -

The way Andy Cates explains it, camping out hasn’t changed a lot in about half a century.

And while “roughing it” appeals to many of those in search of outdoors experiences, for others – sometimes in the same family – it doesn’t or it isn’t possible.

11. US Homebuilder Confidence Slides Slightly in February -

U.S. homebuilders say sales prospects and buyer traffic fell slightly this month.

The National Association of Home Builders/Wells Fargo builder sentiment index slipped to 55 in February from 57 in January. Despite the decline, builders remain optimistic a month before the start of the spring buying season.

12. Maines Paper & Food Service Continues Work in Arlington -

11420 Gulf Stream Road
Memphis, TN 38002
Permit Amount: $2.5 million

Permit Application Date: February 2015
Owner: W D Arlington LLC
Tenant: Maines Paper & Food Service
Details: More new construction is planned at the Maines Paper & Food Service cold-storage facility in Arlington.

13. Crosstown Crossroads -

Richard Spore and his colleague at the Memphis office of the Bass Berry & Sims law firm have worked on several ambitious, game-changing projects like the transformation of Overton Square and Bass Pro Shops’ redevelopment of The Pyramid.

14. Editorial: Government Cheese(cake) -

We are too easy. Say the words “Cheesecake Factory” and we act like we’ve won the lottery.

All of our problems are solved. The historically high poverty rate that has plagued us for generations is about to become a thing of the past.

15. Consumers Fuel Steady US Economy as Rest of World Struggles -

WASHINGTON (AP) – There's a good reason the U.S. economy is impressing the world right now despite a slowdown in the final three months of 2014: In a word, steadiness.

Companies have been hiring at healthy rates for the past year. Layoffs hover near historic lows. Auto sales are strong. Gas prices have sunk. Congressional budget fights have faded. Americans are increasingly confident.

16. Appointment Viewing -

In 2014 Crye-Leike Realtors totaled 183,000 scheduled appointments for house showings, a logistical feat considering all the moving parts involved.

Calls for showings can come after business hours and on weekends, when many real estate companies are not open, and confirming showing times with sellers can sometimes be difficult during normal hours when they’re at work or busy dealing with everyday life.

17. $42 Million Permit Filed For Target Fulfillment Center -

5461 Davidson Road
Memphis, TN 38118
Permit Amount: $42 million

18. EDGE Approves Ikea Incentives -

Swedish furniture retailer Ikea has been awarded an 11-year tax break to develop a $64 million store near Interstate 40 and Germantown Parkway that is expected to employ 175 people.

The board of the city-county Economic Development Growth Engine on Wednesday, Jan. 21, approved the controversial payment-in-lieu-of-taxes incentive on an 8-1 vote. Larry Jackson voted against the measure.

19. Stonebridge Crossing Sells for $34.7 Million -

9300 U.S. 64
Lakeland, TN 38002
Sale Amount: $34.7 million

Sale Date: Jan. 5, 2015
Buyer: Lakeland Apartments TN Associates LLC
Seller: MRB Stonebridge LP
Loan Amount: $27.7 million
Loan Date: Dec. 15, 2014
Maturity Date: Feb. 1, 2025
Lender: Walker & Dunlop LLC
Details: An affiliate of a New York-based real estate investment firm has bought the Stonebridge Crossing Apartments in Lakeland for $34.7 million.

20. Lakeland Apartments Sell for $34.7 Million -

An affiliate of a New York-based real estate investment firm has bought the Stonebridge Crossing Apartments in Lakeland for $34.7 million.

Lakeland Apartments TN Associates LLC, which is affiliated with New York-based Somerset Partners LLC, bought the 432-unit apartment community at 9300 U.S. 64 from MRB Stonebridge LP, according to a Jan. 5 special warranty deed. The purchase price breaks down to around $80,324 per unit. The seller, MRB Stonebridge LP, lists the same address as Memphis-based Makowsky Ringel Greenberg LLC.

21. Bartlett Walgreens Sells for $4.8 Million -

An affiliate of a California-based real estate investment firm has acquired a Walgreens site in Bartlett for $4.8 million.

Realty Income Properties 5 LLC, an affiliate of California-based Realty Income Corp., bought the Walgreens store at 8097 U.S. 70 in Bartlett from Cole WG Bartlett TN DST, according to a Jan. 5 warranty deed. Realty Income Corp. acquires and manages freestanding, single-tenant properties leased to retail chains.

22. Lakeland Apartments Sell for $34.7 Million -

An affiliate of a New York-based real estate investment firm has bought the Stonebridge Crossing Apartments in Lakeland for $34.7 million.

Lakeland Apartments TN Associates LLC, which is affiliated with New York-based Somerset Partners LLC, bought the 432-unit apartment community at 9300 U.S. 64 from MRB Stonebridge LP, according to a Jan. 5 special warranty deed. The purchase price breaks down to around $80,324 per unit. The seller, MRB Stonebridge LP, lists the same address as Memphis-based Makowsky Ringel Greenberg LLC.

23. Stonebridge Crossing Sells for $34.7 Million -

An affiliate of a New York-based real estate investment firm has bought the Stonebridge Crossing Apartments in Lakeland for $34.7 million.

Lakeland Apartments TN Associates LLC, which is affiliated with New York-based Somerset Partners LLC, bought the 432-unit apartment community at 9300 U.S. 64 from MRB Stonebridge LP, according to a Jan. 5 special warranty deed. The purchase price breaks down to around $80,324 per unit. The seller, MRB Stonebridge LP, lists the same address as Memphis-based Makowsky Ringel Greenberg LLC.

24. US Consumer Debt Up $14.1 Billion in November -

U.S. consumers increased their borrowing in November, as stronger demand for auto and student loans offset a drop in credit card debt.

The Federal Reserve said Thursday that consumer borrowing rose by $14.1 billion following a $16 billion increase in October. The gains have pushed consumer debt excluding real estate loans to a record level of $3.3 trillion.

25. Tanger Outlets Confirms Southaven Involvement -

Tanger Factory Outlet Centers Inc. has confirmed what The Daily News first reported in December: It will play a key role in the development of a massive outlet mall in Southaven.

26. US Consumer Debt Up $14.1 Billion in November -

WASHINGTON (AP) – U.S. consumers increased their borrowing in November, as stronger demand for auto and student loans offset a drop in credit card debt.

The Federal Reserve said Thursday that consumer borrowing rose by $14.1 billion following a $16 billion increase in October. The gains have pushed consumer debt excluding real estate loans to a record level of $3.3 trillion.

27. The Preserve at Southwind Sells for $28 Million -

7991 Capilano Drive
Memphis, TN 38125
Sale Amount: $28 million

Sale Date: Dec. 22, 2014
Buyer: Southwind Apartments LP
Seller: G&I VII Preserve at Southwind Apartments LP
Loan Amount: $18 million
Loan Date: Dec. 18, 2014
Maturity Date: Oct. 31, 2020
Lender: Jackson National Life Insurance Co.
Details: A team that includes Memphis-based Foegelman Venture Partners has sold The Preserve at Southwind apartment community for $28 million.

28. REIT Buys Distribution Center for $14.5 Million -

A large distribution center in Southeast Memphis has traded hands for $14.5 million, and it’s another out-of-state real estate investment trust doing the buying.

Crown Memphis Associates LLC sold the distribution center at 4836 Hickory Hill Road to SIR Properties Trust, an affiliate of Massachusetts-based Select Income REIT, according to a Dec. 23 warranty deed. Select Income REIT primarily owns properties that are net leased to single tenants. Around 35 percent of SIR’s rents are from land the company owns in Hawaii that is under long term lease to clients with the remaining revenues coming from single-tenant office and industrial properties across the U.S.

29. REIT Buys Distribution Center for $14.5 Million -

A large distribution center in Southeast Memphis has traded hands for $14.5 million, and it’s another out-of-state real estate investment trust doing the buying.

Crown Memphis Associates LLC sold the distribution center at 4836 Hickory Hill Road to SIR Properties Trust, an affiliate of Massachusetts-based Select Income REIT, according to a Dec. 23 warranty deed. Select Income REIT primarily owns properties that are net leased to single tenants. Around 35 percent of SIR’s rents are from land the company owns in Hawaii that is under long term lease to clients with the remaining revenues coming from single-tenant office and industrial properties across the U.S.

30. Big Deals Highlight 2014 Real Estate -

In Inked, we like to highlight local real estate transactions and the often-interesting companies leasing or buying commercial real estate space in the Memphis market. We also like to keep you informed about major deals before they happen and track companies that are critical to the local economy. Here are some important items that appeared in Inked in 2014.

31. US Home Price Growth Slows for 11th Consecutive Month -

WASHINGTON (AP) – U.S. home prices rose in October at a slightly slower pace, as real estate sales have fallen and affordability has increasingly become a challenge for potential buyers.

32. Pitts-Murdock Leading Library’s Teen Services -

R. Janae Pitts-Murdock has been named coordinator of teen services for the Memphis Public Library and Information Center, a role in which she’s responsible for coordinating teen programs, partnerships and special initiatives across 18 locations.

33. City, County Catch Late-Year Economic Development Surge -

Through September, things were looking somewhat bleak for Memphis and Shelby County on the economic development front.

At that point in the year the city and county were on pace to tie a record low for the number of payments-in-lieu-of-taxes, or PILOT, agreements granted to companies in a year. While granting fewer tax incentives could be viewed as good news because companies were more fiscally sound or confident about operating in Memphis and Shelby County, the lower level of activity represented a dip in the level of economic investment in the area.

34. US Home Sales Hit Slowest Pace in 6 Months in November -

WASHINGTON (AP) – Fewer Americans bought homes in November as buying slid to its slowest pace in six months.

The National Association of Realtors said Monday that sales of existing homes fell 6.1 percent to a seasonally adjusted annual rate of 4.93 million. That was down from a revised annual pace of 5.26 million in October. Over the past 12 months, sales have risen 2.1 percent.

35. Folk’s Folly Rebrands, Renames Butcher Shop -

Folk’s Folly has finished rebranding and renovating the restaurant’s adjacent butcher shop that opened in 1989, a spate of activity that also included renaming the shop in honor of restaurant founder Humphrey Folk.

36. Senate Confirms TVA Board Nominees -

The U.S. Senate has confirmed two nominees to serve on the board of the Tennessee Valley Authority, the nation's largest public utility.

Media report the Senate held a roll call vote on the nominations of Democrats Ron Walter and Virginia Lodge after some Republicans objected to all Democrats being appointed to the board. The measure passed Tuesday night 86-12.

37. New Industrial Market Takes Hold in Marshall, Fayette Counties -

In November, Volvo began operations at its new parts distribution center in Marshall County, Miss.

The 1 million-square-foot distribution center inside Panattoni Development Co.’s Gateway Global Logistics Center is the centerpiece of the company’s streamlined North American parts distribution network and helped solidify the Marshall County and Fayette County, Tenn., region as a major player in local industrial real estate.

38. Senate Confirms TVA Board Nominees -

The U.S. Senate has confirmed two nominees to serve on the board of the Tennessee Valley Authority, the nation's largest public utility.

Media report the Senate held a roll call vote on the nominations of Democrats Ron Walter and Virginia Lodge after some Republicans objected to all Democrats being appointed to the board. The measure passed Tuesday night 86-12.

39. Reinventing Retirement -

Ray’s take: At the turn of the 20th century, the average life expectancy was 47 years. Today, the average American can look forward to about 78 years of life. The average life expectancy for today's 65-year-old has increased to 84, according to the National Center for Health Statistics. I currently have twelve clients over 90.

40. Why Areas With Good Jobs Have Hard-to-Afford Homes -

WASHINGTON (AP) – It's the new career trade-off: Around the country, areas with the strongest job markets increasingly have some of the costliest homes. And areas with the most affordable homes lack a solid base of middle class jobs that attract workers.

41. 321,000 Jobs Added in November, Most in Nearly 3 Years -

WASHINGTON (AP) – A burst of U.S. hiring in November – the most in nearly three years – added 321,000 jobs and provided the latest evidence that the United States is outperforming other economies throughout the developed world.

42. ’Tis the Season -

After the recession struck, desperate retailers competing for a shrinking amount of shopping dollars and market share began tinkering with time-tested holiday marketing strategies.

Good prices, great values, unique offerings and convenience no longer were enough to boost retail sales.

43. Spillyards Leads Community Advisors Launch -

Greg Spillyards has joined the brokerage team at Cushman & Wakefield/Commercial Advisors to launch the firm’s Community Advisors service line.

Community Advisors is focused on the Memphis city core, with a goal to provide real estate advisory services to assist in the revitalization of the city’s underserved areas with passion, creativity and entrepreneurship, and with service to those already living and leading in their neighborhoods.

44. Stonewall Jackson's Little Slice of Heaven in Brentwood -

“Everybody has to meet his Waterloo,” sings honky-tonk hero Stonewall Jackson in his breakthrough No. 1 hit back in 1959.

Of course, that line, the entire song really, means everybody must meet his or her fate someday.

45. Green Hills in Full Boom Despite Traffic Woes -

Stephen Graw first moved to Green Hills in 2004 right after college, renting a house with a bunch of buddies from school. Like his neighborhood, he’s done a lot of growing in the last decade and is now a senior advisor at Sperry Van Ness Nashville and on the Chamber West Leadership Council.

46. Hillsboro High Land Sale: New School, Big Profit -

Merritt Rowe knows her children will never personally benefit from any changes to Hillsboro High School in Green Hills, but as the parent of two current students and another starting next year, it is something she is willing to fight for and encourages other parents – especially those of future students – to do the same.

47. Boyle Sees Opportunity in East Memphis -

Memphis-based Boyle Investment Co. hopes to break ground next year on a new office building at its Ridgeway Center complex near Poplar Avenue and Shady Grove Road, according to company officials.

48. US Homebuilder Sentiment Rallies in November -

WASHINGTON (AP) – U.S. homebuilders' confidence rebounded in November as both sales expectations and buyer traffic improved.

The National Association of Home Builders/Wells Fargo index rose to 58 this month, up from 54 in October. That puts the index just short of September's reading of 59, which was the highest level since November 2005, shortly before the housing bubble burst.

49. Court to Consider When Second Mortgage Can Be Void -

WASHINGTON (AP) – The Supreme Court said Monday it will decide whether homeowners who declare bankruptcy can void a second mortgage if the home's market value has dropped below the amount they owe on the first mortgage.

50. Makowsky Ringel Greenberg Still Going Strong -

In 2008, Memphis-based Makowsky Ringel Greenberg LLC acquired land inside the Schilling Farms community in Collierville for a new high-end apartment development.

51. Trustmark’s Neal Finds Plenty to Like in CRE -

Trustmark National Bank senior vice president Rick Neal, who manages the bank’s commercial real estate efforts for the Memphis region, came to the bank in 2012 for a couple of reasons.

52. Staples Closes Stores, Keeps Distribution Center -

Just a few years after entering the Memphis market, Staples Inc. has closed all of its local stores, including a location on a prime piece of commercial real estate in East Memphis.

53. Editorial: Overton Square Comeback Proof of Possibilities -

Overton Square is back in ways few of us could have foreseen just three years ago.

And that’s the point – ways few of us could have foreseen.

The direct cause is millions of dollars invested by Loeb Properties, a Memphis company that knows what was, what could be and the necessary difference between the two.

54. Turner Looks to Increase Professional Advancement in Commercial Real Estate -

Bob Turner has a diverse background in real estate, including long stints in both residential and commercial development.

55. Real Estate Rally -

Commercial real estate can offer insight into the strength of the local economy. Through the office, retail, industrial and apartment developments that mark the region the economy at work in the real world can be seen.

56. Staples Closes Memphis Stores, Keeps Distribution Center -

Just a few years after entering the Memphis market, Staples Inc. has closed all of its local stores, including a location on a prime piece of commercial real estate in East Memphis.

57. China’s Growth Gut Check -

The global economy is a symphony of regional and local economies interconnected by trade, interest rates and currency movements. We can generalize the influence of our leading instrumentalists in the following ways.

58. Schools, Development Dominate Germantown Races -

Germantown will have a new mayor once all of the votes are counted Nov. 4 in the city’s municipal elections on the ballot.

But the race between former Germantown Community Services director George Brogdon and alderman Mike Palazzolo likely won’t completely settle the community’s discussion and debate about development and the future of the Germantown Municipal Schools district.

59. US New-Home Sales Close to Flat in September -

WASHINGTON (AP) — U.S. sales of new homes were nearly flat in September, after the government sharply revised downward what was initially an August surge in buying.

New-home sales edged up 0.2 percent last month to a seasonally adjusted annual rate of 467,000, the Commerce Department reported Friday. The report also revised down the August sales rate to 466,000 from 504,000.

60. Memphis Economic Indicator Finds Optimism -

The latest Memphis Economic Indicator, a quarterly survey measuring general business sentiment produced jointly by The Daily News and Dixon Hughes Goodman LLP, found a downward trend in sentiment measured by almost all of the survey’s six standard questions.

61. Palazzolo, Brogdon Talk 3 Gs in Germantown Debate -

The two candidates for mayor of Germantown offered different views about where the city is and future goals Tuesday, Oct. 21, before an overflow crowd at the Germantown Municipal Center.

Mike Palazzolo and George Brogdon, who retired as the city’s community services director to run for mayor, are running on the Nov. 4 ballot to succeed five-term mayor Sharon Goldsworthy, who is not seeking re-election.

62. US Existing Home Sales Rise in September -

WASHINGTON (AP) — U.S. homes sold in September at their fastest clip this year, a sign that the housing market is shaking off a slowdown that began in the middle of 2013.

The National Association of Realtors said Tuesday that sales of existing homes rose 2.4 percent from the previous month to a seasonally adjusted annual rate of 5.17 million. Still, the sales rate has dropped 1.7 percent over the past 12 months.

63. China Economy Grows at Slowest Pace in 5 Years -

BEIJING (AP) — China's economic growth waned to a five-year low of 7.3 percent last quarter, raising concerns of a spillover effect on the global economy but falling roughly in line with Chinese leaders' plans for a controlled slowdown.

64. Sprouts Farmers Market Applies for Building Permit -

3150 Village Shops Drive
Germantown, TN 38138

Project Cost: $1.5 million

Applied: Oct. 14, 2014

65. Recruiter’s Career Twist -

Ask Janet Miller about her remarkable career at the Nashville Area Chamber of Commerce and she’ll likely attribute it to good timing or pass credit onto others.

66. Collierville Storage Facility Sells for $3.9 Million -

A California-based owner and operator of self-storage facilities has purchased a Collierville storage facility for $3.9 million.

LifeStorage, through an entity operating as SSTN 651 S. Rowlett Street LLC, acquired the 62,170-square-foot facility at 651 S. Rowlett St. from LottaStorage LLC, according to an Oct. 6 special warranty deed. The Shelby County Assessor of Property’s 2014 appraisal is $2.2 million.

67. Editorial: Questions and Candidates for November -

The last election of 2014 is underway with early voting across the state and in Shelby County.

And the questions for voters continue to be not only whom but what to vote for.

The ballot includes a dozen referendums, from a city charter amendment to wine in grocery stores to liquor by the drink to the four proposed amendments to the Tennessee Constitution.

68. Fed Survey Finds Moderate Growth Nationwide -

WASHINGTON (AP) – The U.S. economy was strengthening in most regions of the country in September to early October, helped by gains in consumer spending, manufacturing and commercial construction, according to the Federal Reserve's latest survey of business conditions.

69. ‘Wake-Up Call’ -

Last week, Joel Hobson, broker-owner of Memphis-based Hobson Realtors, posted notes in the workplace and a message on the company’s website notifying clients that they may have to meet sales staff at the office or provide proof of identification.

70. Shelby County Residential Foreclosures Drop 22 Percent -

Foreclosures have been on a consistent downward slope in Shelby County, with newly available figures underscoring the comprehensive nature of the decline.

During third quarter 2014, the county saw 667 residential foreclosures, a 22 percent decline from the 853 filed during the same period in 2013, according to real estate information company Chandler Reports, chandlerreports.com.

71. US Mortgage Rates Down for Third Straight Week -

WASHINGTON (AP) – Average U.S. mortgage rates fell for the third straight week, making it more affordable to borrow to buy a home.

Mortgage company Freddie Mac said Thursday that the nationwide average for a 30-year loan fell to 4.12 percent from 4.19 percent last week. The average for a 15-year mortgage, a popular choice for people who are refinancing, also declined to 3.3 percent from 3.36 percent.

72. Consumer Borrowing up $13.5 Billion in August -

WASHINGTON (AP) — U.S. consumers increased their borrowing in August in the category that covers auto loans and student loans but cut back on their credit card borrowing.

Overall borrowing rose $13.5 billion in August following a revised $21.6 billion increase in July, the Federal Reserve reported Tuesday. The gains have pushed total consumer debt to a record level of $3.25 trillion.

73. 30-Year Mortgage Rate Averaging 4.19 Percent -

A key long-term U.S. mortgage rate dipped this week, the second drop after a large increase two weeks ago.

Mortgage company Freddie Mac said Thursday the nationwide average for a 30-year loan slipped to 4.19 percent from 4.20 percent last week. The average for a 15-year mortgage, a popular choice for people who are refinancing, was unchanged at 3.36 percent.

74. New Breed of Lodging -

Somewhere between short-term rentals and traditional hotels, you can find a new breed of visitor lodging in Nashville.

These privately-owned condos with sophisticated urban décor and unique spaces for every guest are a dream come true for any traveler who wants to experience a city on a more intimate level.

75. Airbnb, Other In-Home Vacation Rentals Face Rules, Taxes -

When Hume-Fogg teacher Elizabeth Smith and her husband became empty-nesters, they talked about downsizing.

76. 30-Year Mortgage Rate Averaging 4.19 Percent -

A key long-term U.S. mortgage rate dipped this week, the second drop after a large increase two weeks ago.

Mortgage company Freddie Mac said Thursday the nationwide average for a 30-year loan slipped to 4.19 percent from 4.20 percent last week. The average for a 15-year mortgage, a popular choice for people who are refinancing, was unchanged at 3.36 percent.

77. Williams-Sonoma Growth Highlights DeSoto Push -

In 1999, Williams-Sonoma Inc. opened its first DeSoto County distribution center on Polk Lane in Olive Branch.

78. Stonebridge Crossing Sells for $29.8 Million -

9135 Morning Ridge Road
Memphis, TN 38016
Sale Amount: $29.8 million

Sale Date: Sept. 11, 2014
Buyer: IRT Stonebridge Crossing Apartments Owner LLC
Seller: AB Merion Stonebridge LLC
Details: The 500-unit Stonebridge Crossing apartment complex in Cordova has traded hands.

79. I Choose Memphis: Gregory Love -

“I Choose Memphis” spotlights Memphians who are passionate about calling this community home. New Memphis Institute provides the profiles.

Name: Gregory Love

80. US New-Home Sales Soar in August -

U.S. sales of new homes surged in August, led by a wave of buying in the West and Northeast.

The Commerce Department said Wednesday that new-home sales climbed 18 percent last month to a seasonally adjusted annual rate of 504,000. The report also revised up the July sales rate to 427,000 from 412,000.

81. Stonebridge Crossing Sells for $29.8 Million -

The Stonebridge Crossing apartment complex in Cordova has traded hands.

Independence Realty Trust, a Philadelphia-based real estate investment trust focused on apartment communities and operating as IRT Stonebridge Crossing Apartments Owner LLC, acquired the massive apartment community from AB Merion Stonebridge LLC for $29.8 million, according to a Sept. 11 special warranty deed.

82. Average US 30-Year Mortgage Rate at 4.20 Percent -

WASHINGTON (AP) – Average long-term U.S. mortgage rates declined slightly this week, after marking their largest one-week gain of the year the previous week.

Mortgage company Freddie Mac said Thursday that the nationwide average for a 30-year loan eased to 4.20 percent from 4.23 percent last week. The average for a 15-year mortgage, a popular choice for people who are refinancing, slipped to 3.36 percent from 3.37 percent.

83. Stonebridge Crossing Sells for $29.8 Million -

The Stonebridge Crossing apartment complex in Cordova has traded hands.

Independence Realty Trust, a Philadelphia-based real estate investment trust focused on apartment communities and operating as IRT Stonebridge Crossing Apartments Owner LLC, acquired the massive apartment community from AB Merion Stonebridge LLC for $29.8 million, according to a Sept. 11 special warranty deed.

84. Stonebridge Crossing Sells for $29.8 Million -

The Stonebridge Crossing apartment complex in Cordova has traded hands.

Independence Realty Trust, a Philadelphia-based real estate investment trust focused on apartment communities and operating as IRT Stonebridge Crossing Apartments Owner LLC, acquired the massive apartment community from AB Merion Stonebridge LLC for $29.8 million, according to a Sept. 11 special warranty deed.

85. US New-Home Sales Soar in August -

U.S. sales of new homes surged in August, led by a wave of buying in the West and Northeast.

The Commerce Department said Wednesday that new-home sales climbed 18 percent last month to a seasonally adjusted annual rate of 504,000. The report also revised up the July sales rate to 427,000 from 412,000.

86. US Existing Home Sales Fall in August -

WASHINGTON (AP) – Fewer Americans bought homes in August, as investors retreated from real estate and first-time buyers remained scarce.

Sales of existing homes fell 1.8 percent to a seasonally adjusted annual rate of 5.05 million, the National Association of Realtors said Monday. That snaps a four-month streak of gains. August sales are down from a July rate of 5.14 million, a figure that was revised slightly downward.

87. Sprouts Applies for Building Permit -

Sprouts Farmers Market has applied for a building permit to turn the old Kroger store in Lakeland into one of its upscale grocery stores.

Sprout applied for a $650,000 building permit to renovate the former Kroger at 9050 U.S. 64 in Lakeland. The building permit application lists AAD Fitch Inc. as the architect on the project.

88. Anderson County Gets in on Increased Auto Activity -

Chattanooga and Middle Tennessee may grab more headlines when automotive plants expand operations, but Clinton is no stranger to good news in that regard.

SL Tennessee recently announced that it would build a 250,000-square-foot building in Anderson County’s Clinton/I-75 Industrial Park – its third location.

89. Volatile Apartment Sector Reduces US Home Building -

WASHINGTON (AP) – U.S. home construction plunged in August, led by steep decline in the volatile apartment category. But single-family house construction, a larger and more stable portion of the market, fell only modestly.

90. Sprouts Farmers Market Applies for Building Permit -

Sprouts Farmers Market has applied for a building permit to turn the old Kroger store in Lakeland into one of its upscale grocery stores.

Sprout applied for a $650,000 building permit to renovate the former Kroger at 9050 U.S. 64 in Lakeland. The building permit application lists AAD Fitch Inc. as the architect on the project.

91. Harold Ford Funeral Home Files Construction Loan -

1670 Sycamore View Road
Memphis, TN 38134
Loan Amount: $2.6 million

Loan Date: Sept. 4, 2014
Maturity Date: N/A
Borrower: Harold Ford Sycamore View LLC and Serenity Columbarium and Memorial Gardens LLC
Lender: Regions Bank
Details: The Harold Ford Funeral Chapel at 1670 Sycamore View Road in Northeast Memphis has filed a $2.6 million construction loan on the property.

92. Going Home -

Steve Brown, Crye-Leike Realtors Inc. Memphis general manager, and other Realtors remember a time when the headquarters for the Memphis Area Association of Realtors had a bank of telephones along a wall that Realtors in the field flocked to in order to check in with the office.

93. Lee Joins MOGA’s DeSoto Office -

Dr. Daniel Lee has joined the DeSoto office of Memphis Obstetrics & Gynecological Association PC. Lee provides comprehensive women’s health services, including office gynecology, obstetrics and surgical management, to women of all ages.

94. Knoxville-Area Real Estate Bouncing Back -

Knoxville’s housing market seems to be making steady gains after the setbacks of the Great Recession.

Doyle Webb, president of the Knoxville Area Association of Realtors and a Realtor with Realty Executives Associates, says the area’s housing market will continue to improve over the next five to 10 years and surpass its 2007 sales’ levels.

95. Average US 30-Year Mortgage Rate Holds Steady -

WASHINGTON (AP) – The average 30-year U.S. mortgage rate this week remained at a 52-week low of 4.10 percent for the third straight week.

Mortgage company Freddie Mac also said Thursday the average for a 15-year mortgage, a popular choice for people who are refinancing, slipped to 3.24 percent from 3.25 percent.

96. FedEx Decides Not to Renew a Renaissance Center Lease -

FedEx has decided not to renew a lease at a prominent East Memphis office building.

FedEx Services is not renewing a roughly 11,000-square-foot lease at the 189,644-square-foot Renaissance Center office building at 1715 Aaron Brenner Drive that expires Oct. 1. Employees affected by the decision will be moved to FedEx facilities, part of a broader consolidation and efficiency plan the company has been pursuing.

97. US Home Prices Rose at Slower Pace in July -

WASHINGTON (AP) – U.S. home prices rose in July but at a slower rate compared with earlier this year. The moderating price increases could help support sales.

Real estate data provider CoreLogic said Tuesday that prices rose 7.4 percent in July from July 2013. That was slightly below June's year-over-year increase of 7.5 percent and far below a recent peak of 11.9 percent in February.

98. Push for Broader Minority Business Participation Grows -

A larger share of business for minority- and women-owned local businesses should begin with an inventory that matches existing businesses with existing opportunities.

And three leaders of the recently revived effort to build that share of business say from there the local Memphis economy overall can grow.

99. Is It Really Time to Relax Lending Standards? -

Just when you thought it was safe to believe in the wisdom of the system, they pull this.

Back in 2008, when the Great Recession made its way into Middle Tennessee and the area began to feel the pain that other regions had endured for several years, the financial world collapsed.

100. Changing Landscape -

A “high-end” grocery store chain not currently serving the Memphis market has leased the shuttered former Kroger store at 9050 U.S. 64 in Lakeland and should open in the spring, according to a Lakeland official.