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Editorial Results (free)

1. Office Occupancy Ends 2013 on High Note -

An unusually strong fourth quarter helped push the overall Memphis office market occupancy rate into positive territory for 2013, according to year-end commercial real estate market reports.

The Memphis market recorded absorption of 225,338 square feet in the fourth quarter – the largest positive absorption the market has experienced during any quarter in more than 10 years – to end the year with positive net absorption of 40,558 square feet, according to CB Richard Ellis Memphis.

2. Wright Signs Lease for East Memphis Headquarters -

After months of planning, Wright Medical Group Inc. has signed the lease for its new headquarters and is in the process of moving to the wooded office campus at Park Avenue and Cherry Road in East Memphis.

3. Fresh Market, Whole Foods Seek Approval From Boards -

Two planned high-profile grocery stores will be seeking regulatory approval in the coming weeks.

The Fresh Market is applying for a special-use permit from the Land Use Control Board Dec. 12 to convert the existing Ike’s store on Union Avenue into one of the chains upscale grocery stores.

4. Experts to Provide CRE Outlook at Seminar -

Class A office space in East Memphis reigns supreme, which should continue to drive up rental rates, while industrial developers are ramping up activity outside the city of Memphis.

Those trends and others in commercial real estate will be the subject of discussion Thursday, Nov. 7, during the 2013 Commercial Real Estate Review & Forecast, one of six seminars in The Daily News’ 2013 Seminar Series.

5. EDGE Approves Incentives for Wright Medical -

Arlington-based Wright Medical Group Inc. is one step closer to relocating its headquarters to Memphis.

6. EDGE Approves Incentives for Wright Medical -

Arlington-based Wright Medical Group Inc. is one step closer to relocating its headquarters to Memphis.

7. Wright Medical Group Seeks Tax Breaks to Relocate to Memphis -

Arlington-based Wright Medical Group Inc. is seeking tax freezes to retain 225 jobs, add 35 new jobs and invest $10.6 million into a new headquarters on Cherry Road in East Memphis.

8. Rightful Owner -

Ever since he was a child, Brad Martin, chairman of private investment firm RBM Venture Co. and retired chairman and CEO of Saks Inc., was attracted to the large wooded property at 1023 Cherry Road near Park Avenue in East Memphis.

9. Industrial, East Memphis Office Sectors Bolster CRE -

The local commercial real estate market is a tale of two sectors, with the industrial sector showing signs of improvement while the overall office sector – outside the prized East Memphis submarket – continues to struggle through the first three months of the year, according to recent reports.

10. Former Harrah's Headquarters Sells for $4.1 Million -

The previous owner of the East Memphis office complex at 1023 Cherry Road has reinvested in the asset for $4.1 million.

11. Former Harrah’s Headquarters Sells for $4.1 Million -

The previous owner of the East Memphis office complex at 1023 Cherry Road has reinvested in the asset for $4.1 million.

12. Former Harrah’s Headquarters Sells for $4.1 Million -

The previous owner of the East Memphis office complex at 1023 Cherry Road has reinvested in the asset for $4.1 million.

13. Slow and Steady -

The local office market saw little change in the third quarter, and brokers say the fourth quarter will likely yield similar results.

Memphis’ vacancy rate ended the quarter in the mid-14 percent range, the same levels as 2008, according to Colliers International Memphis’ Q3 office report. Vacancy during that period in 2007 was below 12 percent.

14. Harrah's Office Complex to be Auctioned -

The former headquarters of Harrah’s Entertainment Inc. in East Memphis is set to be auctioned in November with a minimum bid of $2 million.

15. ‘Perfect Storm’ -

Office sublease space reached a record high in the first quarter, and local experts are forecasting even more leases from one lessee to another to hit the market prior to year-end.

Office subleasing totaled 600,664 square feet during the first three months of the year, according to Cushman & Wakefield/Commercial Advisors LLC’s Q1 office market report. That’s nearly 14 percent of total available space.

16. Commercial Real Estate Raises Red Flags for Bankers -

This month’s foreclosure of the 19-story Exchange Building apartment tower at 130 Madison Ave. is a local example of a problem that’s sounding alarm bells in the banking industry.

It’s the commercial real estate version of the mortgage meltdown that clobbered the housing industry. Signs are emerging that it’s poised to pounce on banks, the real estate industry and policymakers who have spent the past two years working to quell that previous crisis.

17. Former Harrah’s HQ Sells on Courthouse Steps -

The two-parcel, three-building portfolio at 1023 Cherry Road in East Memphis was once an exclusive office complex that housed a prominent local corporation, Harrah’s Entertainment. But the property suffered an ignominious – yet all too familiar – fate Monday when it was sold on the courthouse steps following a foreclosure.

18. Cherry Road Portfolio Auction Adjourned -

A secluded East Memphis office complex that once housed the local offices of Harrah’s Entertainment was scheduled to be auctioned Wednesday, but the lender adjourned the sale until noon Monday, said substitute trustee William P. Moss III of Harris Shelton Hanover Walsh PLLC.

19. Former Harrah’s Office Foreclosed -

The East Memphis property that once housed the local offices of Harrah’s Entertainment has been foreclosed and will be sold on the steps of the Shelby County Courthouse, according to a notice that starts on Page 31 of today’s print edition of The Daily News and also at The Daily News Online, www.memphisdailynews.com.

20. Events -

The Center City Commission Main Street Task Force will meet today at 3:30 p.m. in the Center City Commission conference room, 114 N. Main St. For more information, call 575-0540.

21. Events -

Rhodes College offers its adult summer camp, "Camp Meeman," today through Friday at 2000 N. Parkway. Classes to be offered include "Ancient and Medieval India" and "Contemporary America in Short Fiction." Cost to attend is $675 for dorm campers; $375 for day campers; or $195 for one course. Call 843-3965 or visit http://meeman.rhodes.edu to register.

22. Archived Article: Tic (lead) - Cherry Road Property Receives New Investor

Cherry Road Property Nabs Final Investors

Success paves way for more tenant-in-common development

LANCE ALLAN

The Daily News

In what was termed a final transaction, TIC Properties closed on t...

23. Archived Article: Real Recap - STACEY On the second one down, I used the term Peabody Place Centre Condominium etc

Greystar Refinances Preserve at Southwind 7991 Capilano Drive

Memphis, TN 38125

Cost: $17.1 million

Borrower: Southwind Multifamily LP

Lender: Metropo...

24. Archived Article: Real Recap - 3

Investors Refinance Germantown Shopping Center

Fresh Market Center

at Poplar and Johnson

Cost: $4.1 million

Borrower: MC Germantown LLC, Eakes Properties-Germantown LLC, Olesiewicz Family Investments LLC, Schneider Fresh Market LLC,...

25. Archived Article: Daily Digest - Primacy Relocation

Primacy Relocation

Opens European Subsidiary

Memphis-based Primacy Relocation has announced the launch of Primacy UK Ltd., a London-based, partially owned subsidiary of the global assignment management provider. The compa...

26. Archived Article: Comm Briefs - The Memphis Recycling Department now offers recycling bins with wheels for city residents who find it difficult or impossible The Memphis Recycling Department now offers recycling bins with wheels for city residents who find it difficult or impossib...

27. Archived Article: Comm Briefs - Lifeblood, Mid-South Regional Blood Center and Hollywood Video are teaming up to promote blood donation in June Le Bonheurs Week of Miracles raised more than $1.5 million for the medical center. Le Bonheurs annual Childrens Miracle Network Champions...

28. Archived Article: Comm Briefs - SOURCE: Northwest Airlines Northwest Airlines announced six students from Wooddale High School have been awarded scholarships to Aerospace Camp 1999 at the University of North Dakota. A total of 32 students have been awarded scholarships for the cam...

29. Archived Article: Filler - filler League of Women Voters of Memphis/Shelby County will meet at 11:30 a.m. on Saturday at the Promus Corp.s Pool House, 1023 Cherry Road. Dexter Muller, director of Memphis/Shelby County Division of Planning and Development, will be the guest sp...