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Editorial Results (free)

1. FedEx Founder Highlights Economic Club Fall Slate -

FedEx founder Fred Smith will make a rare public speaking appearance in Memphis Nov. 6, as part of the fall 2014 lineup of speakers planned for the Economic Club of Memphis.

2. IronHorse Makes New Hire, Launches Mutual Fund -

Memphis-based investment firm IronHorse Capital Management has hired a managing director for national sales, a new hire that comes at the same time as the firm has launched its first mutual fund product.

3. Council Approves Ballpark Deal -

Memphis City Council members approved the city’s $19.5 million purchase of AutoZone Park Tuesday, Jan. 7, and another $4.5 million in improvements to the baseball park.

The deal includes the St. Louis Cardinals buying the Memphis Redbirds franchise and entering into a 17-year lease with the city of Memphis at $300,000 a year.

4. Debt Drama -

One of the common refrains among money managers and economists in Memphis is that the nation’s political leaders spend too much time wrestling with crises and not enough actually solving problems.

Case in point: in a few weeks, the federal government will have reached the limit of its authorized borrowing capacity, the so-called “debt ceiling.” In truth, that moment already has come, but the U.S. Treasury Department has some procedural room to maneuver to keep things going for a few more weeks.

5. Events -

The Memphis Chapter International Association of Administrative Professionals will meet Monday, Jan. 14, at 6 p.m. at Memphis Marriott East, 5795 Poplar Ave. Pamela D. Pitts, financial adviser with Waddell & Reed Inc., will discuss financial planning and investments. Cost is $22. R.S.V.P. to Sharon Gardner at sharon.gardner@asentinel.com or 752-6213.

6. Investment Strategies After the Election -

Status Quo After billions of dollars in campaign costs, thousands of TV and radio advertisements, hundreds of campaign rallies, fundraisers and speeches, the voters spoke on Tuesday. What was the result? We are essentially right back to where we started.

7. Unified Moves To East Pointe Biz Center -

An independent forensic engineering and investigations company has relocated its Mid-South Service Center to a more secure location.

Unified Investigations & Sciences Inc. has inked 8,565 square feet in East Pointe Business Center Building D, 3875 Vantech Drive. The Suwanee, Ga.-based tenant was previously located at 3955 Whitebrook Drive, where it serviced Arkansas, North Mississippi and West Tennessee.

8. Benz Repair Shop to Open On Cooper St. -

A high-end automobile maintenance and repair shop soon will be added to Cooper-Young’s booming portfolio of local businesses.

Shane Herbers, founder of Midtown Motor Werks, has leased 5,000 square feet at 795 S. Cooper St. from Richard Sullivan.

9. CK’s Moves Into Jackson as Part of Expansion -

A longtime Memphis diner chain is expanding its presence into the Jackson, Tenn., market.

CK’s Coffee Shop has signed a five-year lease for 1,390 square feet of the existing 4,900-square-foot Old Medina Market Gas Station at 2800 Old Medina Road.

10. Midtown Apts. Sell for $1M -

Samuel Adefeyisan has purchased the Ashley Manor Apartments – two separate buildings totaling 16 one-bedroom condo units in Midtown – from John P. Waddell and Nancy S. Waddell for $1 million.

11. Elite Electric Relocates to Hickory Withe -

A local electrical designer is relocating its operations from Collierville to Hickory Withe.

Elite Electric & Lighting Inc. has purchased 5,000 square feet of the former John Deere Landscapes facility at 2875 U.S. 64 from K&L Highway 64 Investments LLC for $425,000.

12. Trading Hands -

It’s been something of a roller coaster ride for a little more than six months in the drawn-out process by Regions Financial Corp. to sell Morgan Keegan & Co. Inc., its Memphis-based investment unit.

13. SCO’s Steele Receives Optometry Recognition -

Dr. Glen T. Steele, a professor at the Southern College of Optometry, has received the prestigious William Feinbloom Award from the American Academy of Optometry for his work with InfantSEE.

14. Dunkin’ Donuts Franchisee to Open East Memphis Store -

Dunkin’ Donuts is entering the prime East Memphis trade area with the sixth store in the Memphis area.

Franchisee Akshar Mendenhall Inc., doing business as Dunkin’ Donuts/Baskin Robbins, has signed a 2,700-square-foot lease at 5150 Poplar Ave. on the northwest corner of Poplar and Brookhaven Circle East. This will be his fifth store.

15. Dunkin’ Donuts Franchisee to Open East Memphis Store -

Dunkin’ Donuts is entering the prime East Memphis trade area with the sixth store in the Memphis area.

Franchisee Akshar Mendenhall Inc., doing business as Dunkin’ Donuts/Baskin Robbins, has signed a 2,700-square-foot lease at 5150 Poplar Ave. on the northwest corner of Poplar and Brookhaven Circle East. This will be his fifth store.

16. Local Investors Buy SE Memphis Office Condos -

A portfolio of office condominiums in Southeast Memphis have sold to a group of local investors.

Winchester Office Plaza at 5501, 5507 and 5489 Winchester Road has sold to QSM Holdings LLC for $273,333.

17. Allie Prescott to Head U of M Alumni Association -

Allie Prescott has been elected president of the University of Memphis Alumni Association national executive board of directors.

Prescott holds his bachelor’s and law degrees from the U of M, and he is a life member of the University of Memphis Alumni Association. As a former adviser to the executive director and former vice president for membership, Prescott is serving his fifth year on the national board.

18. Airport Hotel, Conference Center Sells for $4.4M in Foreclosure -

2240 Democrat Road
Memphis, TN 38132
Sale Amount: $4.4 million

Sale Date: July 22, 2011

19. Vieux Carre Retail Center Sells for $1.3 Million -

Vieux Carre Investments LLC has bought Vieux Carre, a neighborhood shopping center at 7981 Dexter Road, from Nancy S. Waddell for $1.3 million. The deal closed July 28.

20. Ga.-Based Coastal Logistics Signs Lease -

A budding Savannah, Ga.-based third-party logistics firm is expanding into the Southeast Memphis industrial market. Coastal Logistics Group Inc. has signed a new 50,000-square-foot lease at 5715 Distribution Drive.

21. Seminar to Tackle Globalization’s Impact -

“The world is flat” is more than just a catchphrase that illustrates the increasing connectivity of the globe’s consumers, markets and economies.

The concept – brought to the forefront by Thomas Friedman’s 2005 book of the same name – is a foundational element of what Memphis’ economic development game plan needs to be if it’s going to remain competitive in the months and years ahead.

22. Wolfchase Auto Dealer Site Sells for $4M -

A Wolfchase auto dealership facility is officially changing hands and names.

First Tennessee Trust Department has bought the 48,085-square-foot auto dealership formerly known as Cadillac SAAB of Memphis, 7727 U.S. 64, for $4 million.

23. Pacific Logistics Picks Olive Branch for Hub -

Pacific Logistics Corp. has signed a lease for its first Memphis-area location, which will serve as a regional hub for the company’s growing shoe and retail business.

24. Conway Services Moves to Cordova -

Conway Services Heating, Cooling & Plumbing has signed a new lease to accommodate space for its growing service team.

Conway Services is moving from 6426 Summer Gale Drive in Memphis near Bartlett to a warehouse on 1220 Big Orange Road in Cordova.

25. Kent H. Landsberg Co. Doubles Space -

Kent H. Landsberg Co. has finally inked a deal that had been in the works for quite some time.

Landsberg, a packaging, janitorial and food service shipping supply company, stayed in Memphis and expanded when it purchased Wurzburg Inc., a Memphis-based provider of supply-chain logistics and packaging.

26. Gold: Supply vs. Demand -

GOLD! Gold hit $1,300 an ounce last week. What is gold? Why is it valuable? What determines its value? What makes prices rise and fall? Good questions. Unfortunately, each answer is quite complicated. Unlike stocks or bonds, where the inputs into price and valuation remain pretty consistent (interest rates, earnings, sentiment, inflation), the inputs for gold seem to fluctuate. Ask five people why gold is climbing and you will likely get ten different answers. Let’s start with the fundamentals:

27. Youth Isn’t a Hurdle for Red Door Founder Phillips -

The scant number of years John Phillips V has under his belt relative to others in his chosen industry is not lost on him.

28. Job Losses = Vote Losses  -

First, the good news. The Institute for Supply Management’s (ISM) manufacturing index for July came in at 55.5, down from June’s level of 56.2, but still well above the expansion threshold of 50. July’s ISM non-manufacturing index also expanded at 53.8. Additionally, auto sales in July rose 5.1 percent from a year ago. Since September 2008, the only month that has seen a higher surge in sales was August 2009, which was a response to the “cash for clunkers” program.

29. Memphis College of Art Buys South Main Building -

477 S. Main St.
Memphis, TN 38103
Sale Amount: $400,000

Sale Date: Feb. 12, 2010
Buyer: Memphis College of Art
Seller: Southeastern LSC Holding Corp., formally known as Lewis Supply Co. Inc.
Loan Amount: $1.5 million
Loan Date: Feb. 15, 2010
Maturity Date: March 1, 2013
Lender: J.R. Hyde III Family Foundation

30. Waddells Buy 14 Units In The Edge at Monroe -

John and Nancy Waddell have paid $1.5 million for 14 units in Downtown’s The Edge at Monroe Condominiums at 437 and 449 Monroe Ave. The Waddells bought the units Feb. 3 from Monroe Properties LLC, financing the transaction with a $1.5 million loan through Financial Federal Savings Bank.

31. Dollar General Coming To James Road in Raleigh -

3609 James Road
Memphis, TN 38128
Permit Amount: $497,000

Project Cost: $497,000
Permit Date: Applied September 2009
Completion: TBA
Owner: SW Properties LLC
Tenant: Dollar General Corp.
Contractor: SW Properties LLC
Architect: N/A

32. Waddells Buy Ashley Manor Condominiums -

John and Nancy Waddell have bought the two-building, 16-unit Ashley Manor condominiums at 129 and 137 N. Belvedere St. in Midtown for $1.6 million from Chamberlain, McCreery and Rice GP. The sale closed Sept. 4.

33. Recession Not Welcome -

A touch of New Orleans is taking shape in Memphis thanks to a family owned real estate development group called The Commons at Dexter Lakes LLC.

34. Concert Industry Posts Record Year Despite Economy -

The stock market is in the tank, the plant is closing and the neighbor is losing his home ... the perfect time to go to a concert, by one measure.

The concert business grossed just less than $4 billion worldwide in 2008, the most ever for a year and up almost 13 percent over last year, according to Billboard magazine.

35. Events -

Memphis Heritage Inc. will hold its 2009 Memphis Heritage Calendar Release Party in collaboration with a Fashion Trunk Show by Stacie Waddell’s Blu Champagne today from 5:30 p.m. to 7 p.m. at Howard Hall, 2282 Madison Ave. There will be a sneak preview of the latest vintage photography collection, “Newman’s Memphis,” by the late local photographer Don Newman. For more information, call 272-2727.

36. Economic Forum Gives Insight Into Local, Global Crisis -

In a down economy, it’s critical to tout one’s strengths, which is why David Waddell of Waddell & Associates Inc. suggested the following slogan for the Regional Chamber in its attempts to attract new business to the city: “Memphis is Cheap. Move Here.”

37. Economic Forum Gives Insight Into Local, Global Crisis -

In a down economy, it’s critical to tout one’s strengths, which is why David Waddell of Waddell & Associates Inc. suggested the following slogan for the Regional Chamber in its attempts to attract new business to the city: “Memphis is Cheap. Move Here.”

38. Economic Forum Gives Insight Into Local, Global Crisis -

In a down economy, it’s critical to tout one’s strengths, which is why David Waddell of Waddell & Associates Inc. suggested the following slogan for the Regional Chamber in its attempts to attract new business to the city: “Memphis is Cheap. Move Here.”

39. Daily News Companies to Present Economic Crisis Forum -

Mortgage meltdown. Credit crunch. Financial fallout.

The recent economic woes are often described with alliterative, pithy phrases like those, but the current crisis demands a deeper explanation for the private and public sectors to fully understand how to navigate a marketplace that now resembles a quagmire.

40. 62-Bed Alzheimer’s Facility Coming to Germantown - 3179 Professional Plaza
Germantown, TN 38138
Permit Amount: $5.6 Million

Project Cost: $5.6 million
Permit Date: Applied October 2008
Completion: October or November of 2009
Owner: Alexander Enterprises
Tenant: Alexander Enterprises
Contractor: Patton and Taylor Enterprises
Architect: O.T. Marshall Architects

Details: An Alzheimer’s facility called the Gardens of Germantown soon will rise at 3179 Professional Plaza, which runs between Poplar Avenue and Poplar Pike near the Germantown/Collierville border.

Developer Alexander Enterprises has filed a permit application with the city-county Department of Construction Code Enforcement to build the 30,500-square-foot, single-story facility. The Gardens of Germantown will be a 48-unit, 62-bed facility that sits on roughly half of a 4.36 acre-parcel backing up to the Village Shops of Forest Hill retail center. Beacon Communities Inc. of Cumming, Ga., will manage the facility.

Construction on the building, set to begin in December, should take 10 months, said Michael Alexander of Alexander Enterprises, with an opening projected for October or November 2009. The property has been divided into two lots, with the Gardens of Germantown slated for the northwest corner of the property.


1.46 Acres in Commons at Dexter Lake
Cordova, TN 38018
Loan Amount: $1.2 Million

Loan Date: Oct. 2, 2008
Maturity Date: April 22, 2009
Borrower: Commons at Dexter Lake LLC
Lender: First Citizens National Bank

Details: A $1.6 million retail center with a French Quarter motif is being built in Cordova. The Commons at Dexter Lake LLC has filed a $1.2 million construction loan to build a 10,400-square-foot retail center, dubbed Vieux Carré, south of Dexter Road and west of Chickering Lane. Construction started last week. The development team bought the land from John B. Maxwell Jr., trustee for the sellers, for $334,541 and filed the construction loan through First Citizens National Bank. Commons at Dexter Lake LLC principal Nancy Waddell signed the trust deed. The center will sit on a 1.46-acre parcel near the Commons at Dexter Lake retail center and the Reserve at Dexter Lake apartments. A spokesman for the developer said the seven-bay center already has five leases signed. Tenants include a Belle Meade salon, financial planner Martin Hearn, a Crown Trophy store and a florist/gift shop. Jeff Blackledge is architect for Vieux Carré. KT Construction LLC, whose partners are Scott Turnage and Riley Kail, will be the general contractor. Turnage said the company is “stripping the lot off right now and pushing hard for the first of the year” to complete the center. “We’re going to go for kind of a hybrid French Quarter style – we’re going to be doing more of a Bourbon Street look,” Turnage said. “It’s going to be a strip center, but we’re going to try to give each space individuality, using depth and height offsets to try to give each space somewhat of a unique appearance.” More retail space will be coming to the site soon.


6075 Winchester Road
Memphis, TN 38115
Sale Amount: $1.4 Million

Sale Date: Oct. 23, 2008
Buyer: World Overcomers Outreach Ministries Church Inc.
Seller: Carlyle Rock Ridge LLC
Loan Amount: $1.2 million
Loan Date: Oct. 24, 2008
Maturity Date: N/A
Lender: Tri-State Bank of Memphis

Details: World Overcomers Outreach Ministries Church Inc. has bought the Hickory Ridge Mall for $1.4 million from Carlyle Rock Ridge LLC. The roughly 500,000-square-foot Hickory Ridge Mall sits on 44 acres at 6075 Winchester Road in Hickory Hill. It was damaged by a tornado during the Feb. 5 storms that ripped through the southern and southeastern areas of town. World Overcomers will retain its congregational home at the former Central Church at 6655 Winchester Road, down the road from the mall. The church bought that property in 2001 for $10 million. Church pastor Alton Williams has announced plans to turn the mall into a Christian community center, replete with a restaurant, banquet hall, theater and other services for the neighborhood. The Hickory Ridge Mall opened in 1981 to much fanfare, but it steadily declined over the years as newer malls opened in other parts of town and tenants departed. The February storm proved to be a death knell for the mall. Although the city of Memphis considered buying it and turning it into a satellite office for city services, the renovation proved too costly.


...

41. New Orleans-Style Center Comes to Cordova - A $1.6 million retail center with a French Quarter motif is being built in Cordova. The Commons at Dexter Lake LLC has filed a $1.2 million construction loan to build a 10,400-square-foot retail center, dubbed Vieux Carré, at the southwest corner of Germantown Parkway and Dexter Road. Construction started this week.

The development team bought the land from John B. Maxwell Jr., trustee, for $334,541 and filed the construction loan through First Citizens National Bank. Commons at Dexter Lake LLC principal Nancy Waddell signed the trust deed.

The center will sit on a 9-acre parcel west of the Jason’s Deli off Dexter Road. The property is near the Commons at Dexter Lake retail center and the Reserve at Dexter Lake apartments.

A spokesman for the developer said the seven-bay center already has five leases signed. Tenants include a Belle Meade salon, financial planner Martin Hearn, a Crown Trophy store and a florist/gift shop.

Jeff Blackledge is architect for Vieux Carré. KT Construction LLC, whose partners are Scott Turnage and Riley Kail, will be the general contractor. Turnage said the company is “stripping the lot off right now and pushing hard for the first of the year” to complete the center.

“We’re going to go for kind of a hybrid French Quarter style – we’re going to be doing more of a Bourbon Street look,” Turnage said. “It’s going to be a strip center, but we’re going to try to give each space individuality, using depth and height offsets to try to give each space somewhat of a unique appearance.”

More retail space will be coming to the site soon.

Source: The Daily News Online & Chandler Reports


...

42. Archived Article -

7656, 7658 and 7660 Poplar Pike
Germantown, TN 38138
Permit Amounts: $800,000, $780,000 and $660,000

Project Cost: $3.5 million

43. New Resembles Old -

Old Germantown soon will have a new office product when The Salvaggio Group LLC completes its $3.5 million, three-building development at 7656 and 7658 Poplar Pike, in the heart of town.

The company - whose partners are former Germantown Mayor Charles Salvaggio and his sons, Tony and Jerome - has sold the three lots that comprise the 1.4-acre property and will begin construction within the next few weeks with completion set for Oct. 1.

44. Bethel Named New VP Of COMEC Board -

Greg Bethel has been named vice president of the board of directors of the Commission on Missing & Exploited Children (COMEC). Bethel is the director of human resources for the Jackson-Madison County School System in Jackson, Tenn. He's been on the board of directors for two years.

45. New Office Condo Development BorrowsFrom Popular Residential Trend -

Developer Hall Jones has brought French Country to the city with his latest office project in Southwind.

The design of the new office building project on Player's Club Parkway mirrors that of the French Country-style architecture that has been popular with homeowners in recent years.

46. Archived Article: Benchmark - Oracle boosts PeopleSoft takeover bid

Oracle boosts PeopleSoft takeover bid

Oracle Corp., the No. 2 U.S.-based global software maker, Wednesday sweetened its hostile cash bid for PeopleSoft Inc. by 22 percent to about $6.3 billion, the latest ...

47. Archived Article: Market Briefs - Chandler, Ehrlich and Co Chandler, Ehrlich and Co. Inc. added three national accounts to its portfolio. TOTO Frontier USA, the marketing arm of Japan-based TOTO Ltd., a manufacturer of bath, kitchen and lavatory products, contracted with Chandler, E...

48. Archived Article: Market Briefs - Union Planters Corp Union Planters Corp. was named the third most small business-friendly bank holding company in the nation by the U.S. Small Business Administration. In the SBAs study of large banks, Union Planters ranked third, trailing BB&T ...

49. Archived Article: Memos - Mary A Mary A. Cuyler has been promoted to audit manager of the Memphis office of BDO Seidman LLP. A certified public accountant, Cuyler is a graduate of the University of Memphis. Shannon Kloek of Hnedak Bobo Group Inc. has been elected president o...

50. Archived Article: Back - By LAURIE JOHNSON Preservation projects receive awards The Memphis Landmarks Commission and Memphis Heritage Inc. recognized 13 projects at the 1998 Historic Preservation Awards ceremony held May 12 at Pembroke Square in honor of National Historic P...