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Editorial Results (free)

1. Kyocera Inks ProLogis Park Lease Renewal -

ProLogis has landed a major renewal at one of its industrial parks.

Kyocera Document Solutions America Inc., which manufactures and markets network-ready digital copiers and printers, laser printers, color copiers and printers, digital laser facsimiles and multifunctional, wide-format imaging products, has renewed its lease for 300,000 square feet at 5510 Getwell Road in Memphis.

2. Orpheum Files Permit For Performing Arts Center -

225 S. Main St.
Memphis, TN 38103

Permit Cost: $10.2 million

Project Cost: $14.5 million

3. D1 Sports Buys Land, Files Construction Loan -

An affiliate of Franklin, Tenn.-based D1 Sports Training has bought 1.9 acres of land in Collierville and filed a construction loan for a 19,062-square-foot sports facility on the property.

DP Memphis LLC paid $375,000 for the vacant parcel, whose address is known as 85 Market Center Drive, in a Feb. 4 special warranty deed from Schilling Farms LLC.

4. East Memphis Office Market Continues To Tighten -

Class A office space in East Memphis continues to be a strong performer thanks to the convenience and quality of buildings radiating from the Poplar/Interstate 240 intersection.

“East Memphis is a real bright spot regionally because if you look at the overall Memphis market it is a bit flat,” said Kemp Conrad, president of Cushman & Wakefield/Commercial Advisors Asset Services. “The East submarket, especially with Class A space, is very strong and dynamic, with strong tenants and strong institutional ownership.”

5. East Memphis Office Market Continues to Tighten -

Class A office space in East Memphis continues to be a strong performer thanks to the convenience and quality of buildings radiating from the Poplar/Interstate 240 intersection.

“East Memphis is a real bright spot regionally because if you look at the overall Memphis market it is a bit flat,” said Kemp Conrad, president of Cushman & Wakefield/Commercial Advisors Asset Services. “The East submarket, especially with Class A space, is very strong and dynamic, with strong tenants and strong institutional ownership.”

6. Employ Both Push and Pull Marketing -

The future of push vs. pull marketing is a hot debate. With social media continually on the rise, there’s a trend to disregard push marketing in its entirety. That’s a mistake. Not only is there a place for both, limiting yourself to one over the other will inhibit your ability for profitable growth.

7. The Cyprus is Falling! -

The Cyprus economy is $23 billion. (The Vermont economy is $26 billion.) Bank loans in Cyprus are eight times the size of GDP, compared with 3.5 times in the Eurozone and 1 times U.S. GDP. With leverage ratio’s that high, a small deterioration in loan performance can render the banking system insolvent.

8. Look at the Facts, Not Rhetoric -

CITE YOUR SOURCE. In human psychology, fear seems more legitimate than hope. Claims of “impending doom,” and “bursting bubbles” elicit fast emotional responses that seem impervious to critique. So many programs, speeches and advertisements prey on this phenomenon today.

9. Local Logistics Firms Expand Medical Real Estate Offerings -

Memphis area industrial brokers are reporting an increase in activity with third-party and proprietary logistics companies involved in distribution of medical/pharma-related product.

During the second half of this year, several local companies have inked new leases that will expand their overall space in the Memphis area, creating new jobs in the process.

10. Rekindling Crosstown -

Video artist Chris Miner says one way to explain the redevelopment of the Sears Crosstown building is likening it to the process of creating art.

“You get into it with a general idea of what you want to do, but then you kind of let it take you wherever you are going to go or wherever the piece wants to go,” he said.

11. Medical Office Sector Enters Transitional Period -

As the trend for health care mergers intensifies, the city’s medical office market evolves, with some private practices consolidating into hospital systems and others relocating to better serve their patients.

12. Crosstown Stakeholder Pleased With Development’s Direction -

Todd Richardson gave some schemes – albeit changing ones – of the redeveloped Sears Crosstown building in Midtown Friday, Oct. 5, at Universal Commercial Real Estate’s Regional Minority Business Entrepreneur Power Breakfast.

13. Middle Class Share of America's Income Shrinking -

WASHINGTON (AP) – The middle class is receiving less of America's total income, declining to its smallest share in decades as median wages stagnate in the economic doldrums and wealth concentrates at the top.

14. New Day Coming for Sears Crosstown Urban Village -

The historic Sears Crosstown building in Midtown Memphis is being redeveloped as a mixed-used vertical urban village, with nine “founding partners” in local health care, education and arts organizations that have signed on to occupy 600,000 square feet of the total 1.4 million square feet of space.

15. Colliers Trio Nearly Triples Retail Portfolio -

In the past 12 months, Colliers International Memphis’ retail team of Andrew Phillips, Ed Thomas and Laura Frazier has grown its retail portfolio from about 300,000 square feet to nearly 850,000 square feet.

16. Scorched Earth -

The daily hustle and bustle of city life makes it easy for Memphians to forget that the urban pocket they call home sits amid one of the nation’s richest agricultural regions, one that’s suffering the economic impact of unusually high temperatures and a nationwide drought.

17. Gather at the River -

About a year ago Memphians were drawn to one spot in particular on the city’s riverfront.

At the foot of Beale Street, the Mississippi River had risen last May to a level where the muddy water covered the intersection of Riverside Drive and Beale, offering a view of an uninterrupted river stretching three miles from the intersection to the levees in West Memphis.

18. Defense Depot Property Sells for $1.1 Million -

2085 W.E. Freeman Drive
Memphis, TN 38114
Sale Amount: $1.1 million

Sale Date: Sept. 14, 2011

Buyer: Varma Family LP

19. Brokers Join Forces at Commercial Advisors -

Until about six months ago, Bentley Pembroke and Phil Dagastino represented office landlords on an individual basis.

But following the recent signing of Electrolux’s 14,000-square-foot lease at One Commerce Square, 40 S. Main St., the duo decided to join forces as the exclusive office leasing team for Commercial Advisors Asset Services LLC.

20. Market Changes -

With the local commercial real estate industry showing signs of a rebound, it still appears the bounce back has a ways to go to a full recovery.

Shelby County’s commercial sales during the past 12 months – May 2010 through April 2011 – totaled 698, up 19 percent from 585 sales during the previous 12-month period, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com. Commercial real estate sales numbers reflect office, industrial and retail real estate.

21. Belgian Ambassador Talks US Trade -

Belgium’s ambassador to the United States notes that there is more U.S. investment in Belgium than there is U.S. investment in China and India together.

“Can you believe that?” ambassador Jan Matthysen asked the Kiwanis Club of Memphis Wednesday after his arrival in the city for this week’s Memphis in May International Festival seminar and International Council Luncheon. Belgium is the honored country at this month’s festival.

22. Independent Bank Eyes Space in One Commerce -

A bank logo may soon be returning to One Commerce Square.

Multiple sources confirmed Independent Bank is in the final stages of negotiating a deal to put a bank branch – and possibly additional office space – in the landmark Downtown tower, where for years the top of the building was adorned with the logo for National Bank of Commerce and later SunTrust Banks Inc.

23. Electrolux Officials Sign Downtown Office Lease -

Before it builds a new manufacturing plant at Frank C. Pidgeon Industrial Park, Electrolux will set up shop in Memphis with a Downtown office.

The Swedish appliance maker has signed a 14,000-square-foot lease at One Commerce Square, 40 S. Main St., where it will occupy the building’s entire 24th floor.

24. Electrolux Signs Lease for One Commerce Square Space -

Before setting up shop at in Southwest Memphis, Electrolux will reside Downtown.

The Swedish appliance maker has signed a 14,000-square-foot lease at One Commerce Square, 40 S. Main St., where it will occupy the entire 24th floor of the building.

25. Business Park Slated for Auction Block -

In the past five years, real estate foreclosures have run the gamut from hospitality to retail to multifamily to high-end residential to industrial.

As the commercial market in particular continues to be plagued with record-high vacancies and downward pressure on rental rates, investors are feeling the brunt of the crisis.

26. Montreal Investor Pays $7.3M for Memphis Center -

A Canadian real estate investment group has bought a distressed South Memphis industrial park with plans to reabsorb the space and bring it back to life.

Richard Stern, principal with Montreal-based Olymbec purchased the 1.1 million-square-foot Space Center, 3051-3133 Tranquility Drive, for $7.3 million.

27. Canadian Group Buys Distressed South Memphis Industrial Park -

A Canadian real estate investment group has bought a distressed South Memphis industrial park with plans to re-absorb the space and bring it back to life.

Richard Stern, principal with Quebec, Canada-based Olymbec purchased the 1.1 million-square-foot Space Center, 3051-3133 Tranquility Drive, for $7.25 million.

28. Fair Game -

During the same week the Mid-South Fairgrounds saw the page turn on its history as home to midways and exhibits when Tiger Lane, the new tailgating feature outside Liberty Bowl Memorial Stadium opened, the story of fairs continues in other parts of the community.

29. Memphians’ Love, Options For Sushi Continue to Grow -

Sushi, the Japanese preparation of raw fish and rice, was unheard of in the United States until after World War II, and then even until the 1970s was largely an exotic phenomenon of the West Coast.

30. Gill Enterprises Sells Land to CVS for Cordova Pharmacy -

786 N. Germantown Parkway
Cordova, TN 38018
Sale Amount: $2.2 Million

Sale Date: July 28, 2010
Buyer: CVS 6628 TN LLC
Seller: Gill Enterprises GP

31. Permit Filed for New Thompson & Co. Locale -

Union-Main Holdings LLC has filed a $1.2 million permit with the city-county Office of Construction Code enforcement to renovate the 17,120-square-foot space at 77 S. Main St., where Thompson & Co. advertising agency will relocate.

32. Hutto Keeps Valeo, Clients on Track -

“I like to tell people that at one time people in our business would build you a great website, take your check, shake your hand and turn you loose,” Hutto said.

No more.

“That just won’t make you successful now,” Hutto added. “The Internet is just too competitive these days.”

33. Calif.-Based EMJ Files Permit For Arlington Distribution Center -

3167 Cypress Ridge Drive
Arlington, TN 38002
Permit Amount: $7 Million

Project Cost: $7 million
Permit Date: Applied May 2010
Completion: October 2010
Owner: Earle M. Jorgensen Co.
Tenant: Earle M. Jorgensen Co.
Contractor: TBD
Architect: TBD

34. Developer Files Loan on Thompson & Co. Space -

Union-Main Holdings LLC has filed a $980,000 construction loan through Metropolitan Bank to redevelop the 17,120-square-foot space at 77 S. Main St., where Thompson & Co. advertising agency will relocate.

35. Corner Rebirth -

Thompson & Co. is about five months away from moving into new digs at the corner of Main Street and Union Avenue.

36. Biz Licenses Down From Year Ago -

Business licenses issued during the first quarter of this year plunged 31 percent from a year ago – a steep drop that could be an anomaly.

An unusually high number of permits was issued during the first quarter of 2009 compared to the same period in 2010.

Desperation and misrepresentation could be factors, according to local experts.

Jeff Jacobs, manager of the business tax division of the Shelby County Clerk’s Office, said he thought several individuals may have obtained permits in the first quarter of 2009 just to claim federal income tax deductions.

However, Mark Taylor, an adviser at the Tennessee Small Business Development Center in Memphis, said many more people were looking to start their own businesses during that period.

“I’m sure for the first quarter of last year there was a big surge in business licenses,” Taylor said. “Everybody was desperate. I think people were just scrambling.”

A total of 1,590 business licenses were issued during the first quarter of this year, according to The Daily News Online, www.memphisdailynews.com.

That compares to 2,316 in Q1 2009.

Taylor said fewer people are inquiring about opening businesses now because of the tight credit market.

Banks are reluctant to loan money for startups.

“Money is still tight,” Taylor said. “We’re not seeing any real big shift on that yet.”

That trend could be changing, said an official from the research division of the Federal Reserve Bank of St. Louis.

David C. Wheelock, a vice president at the Federal Reserve who is an adviser on financial markets, in a recently published essay said, “Business lending may be poised for a rebound.”

His essay was based on quarterly surveys of banks by the Fed concerning lending activity.

“The percentage of respondents reporting tighter standards has declined in recent surveys,” Wheelock wrote. “In the January 2010 survey, no banks reported tighter standards on loans to large- and medium-sized firms,

while 5.5 percent reported that they had eased terms somewhat.

“This was the first survey by the Fed that reported a net percentage of banks easing terms for loans to large- and medium-sized firms since 2007:Q2.”

However, he also noted that 3.7 percent of banks had tightened standards.

Wheelock found a silver living to this number, pointing out that it was the lowest percentage of bank tightening since the second quarter of 2007.

During the prolonged credit crunch, many people have financed startup endeavors mostly from their own pockets.

Keith and Jill Forrester, the owners of Whitton Farms in Arkansas, are about to expand their operation into Downtown Memphis with the Trolley Stop Market at 704 Madison Ave. Keith Foster said they’ve borrowed only $10,000 and drawn on savings for the rest.

“It’s been a hurdle,” he said. “We’ve just been able to piece it together here and there.”

The couple had hoped to have the farm-fresh market and restaurant open by now. The opening depends on how quickly some interior renovations can be completed, such as the installation of a kitchen venting system.

The business will hire 10 to 12 people initially, he said. It could open by the end of April or in May.

In Memphis, lending by banks to small businesses remains tight, Taylor said.

“Here recently, the biggest surge of interest I’ve had in small businesses has been due to the Hickory Ridge Mall reopening,” he said.

“It sounds like the mall may make a goal of it. At least one client quoted a low rental per square foot. They obviously are making some deals.”

The Hickory Hill North ZIP code of 38115 was where the most business permits were issued during the first quarter. A total of 93 permits were issued.

The Oakhaven/Parkway Village ZIP code of 38118 had the second most with 92, followed by the Bartlett ZIP code of 38134 with 85.

...

37. Alabama Casinos Go Upscale to Rival Mississippi -

SHORTER, Ala. (AP) - Alabama casinos are making a $500 million bet that luxury hotels, celebrity restaurants and big-name entertainment will give southbound tourists an alternative to Mississippi's Gulf Coast gambling destinations.

38. Luminetx Expands Global Penetration -

Luminetx Corp. on Monday reported its second quarter sales of VeinViewer were at the highest level since the company began shipping the vascular imaging product three years ago.

39. Lamar Crossing Development Faces Foreclosure -

Once a promising development in a blighted area, the $11.7 million Lamar Crossing Apartments has gone the way of so many other commercial properties in town – fenced in and foreclosed.

A chain-link fence surrounds the perimeter of the 7.13-acre property on Lamar Avenue just north of Interstate 240. Overgrown grass proves the property hasn’t been cared for and a phone number posted on a sign outside the apartments for leasing information has been disconnected.

40. College Lite: Post-high school training programs – how do they rate? -

Jess Parrish used to say that when he started Shelby State Community College in 1970, he ran it out of the trunk of his car. His comment reflected the hard work it took to start a two-year college. Parrish also was acknowledging some of the perceptions about community colleges that exist to this day – eight years after SSCC merged with State Technical Institute to become Southwest Tennessee Community College, the largest community college in the state.

41. Getting Around the Market -

Loan money for small businesses has begun to drip from frozen credit markets, but a plan announced this week by President Barack Obama intends to unthaw them further.

Mark Taylor, director of the Renaissance Business Center in Memphis, said startup ventures have been hurt by the tight credit market because they’ve had a tough time securing loans and have had to put up more collateral to obtain them. He said the center expects to learn more about the specifics of the plan and will help small businesses seeking loans.

42. Goddard School Planned For Winchester Road in Collierville -

2.5 Acres
Collierville, TN 38017
Loan Amount: $1.3 Million

Loan Date: Feb. 13, 2009
Maturity Date: N/A
Borrower: R.S. Harris LLC
Lender: First Citizens National Bank

43. $1.5M Building Permit Filed for Superlo Foods -

Stepherson’s Inc., doing business as Superlo Foods, has signed a lease in the Hickory Commons Shopping Center at 6532 Winchester Road, and the center’s owner, Miami-based HCSS PSHP, has filed a $1.5 million application permit with the city-county Office of Construction Code Enforcement to make tenant improvements in the 42,000-square-foot space.

44. $4.5M Ice Arena Coming to Cordova -

An ownership group called Memphis Ice Arena LLC plans to bring a $4.5 million, 65,000-square-foot ice arena to the city in 2009, ending a six-year drought without a public ice rink.

45. Job Readiness Program Bucks Economy -

More than 750 participants in the BRIDGES Inc. Work Bridge program have gained jobs over the last year despite an ailing economy, said Renee McCreight, the organization’s vice president for work force development.

46. Texas Investor Buys Two Parkway Village Shopping Centers -

With the purchase of two Parkway Village shopping centers, a Texas investor has moved closer to his goal of owning a million square feet of commercial real estate in Memphis.

Parkway Fox LP, a limited partnership headed by Houston-based businessman Dr. Hardam Azad, bought the Parkway Village Center strip malls – plus a handful of outparcels – for $9.1 million from the Margaret Y. Henrich Estate. The sales closed late last week.

47. Fannie, Freddie Spent Millions On Lobbying -

WASHINGTON (AP) – For years, mortgage giants Fannie Mae and Freddie Mac tenaciously worked to nurture, and then protect, their financial empires by invoking the political sacred cow of homeownership and fielding an army of lobbyists, power brokers and political contributors.

48. Texas Company Moves Quickly To Rejuvenate Raleigh Center -

A real estate investment group from Texas hopes to breathe new life into a Raleigh shopping center by renovating its exterior and recruiting tenants. In the process, it also hopes to rejuvenate the entire neighborhood.

49. Brinkley Heights Ministries To Expand Academy -

3277 Macon Road
Memphis, TN 38122
Permit Cost: $2.4 million

Project Cost: $2.4 million

Permit Date: Applied March 2008

50. Bad Omens Or Good? -

Has Downtown's condominium bubble burst? The 2007 year-end sales figures reveal a sluggish performance from what used to be the hottest thing going in local real estate.

Condo sales in Shelby County declined 25.9 percent from 2006 to 2007, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com.

51. Hotel Business Booms in DeSoto -

If you build them, people will come.

Perhaps the hotel business in a growing market can't be summed up quite so succinctly, but so far it's been true in DeSoto County. New hotels continue to sprout - and guests continue to fill the rooms.

52. Archived Article -

830 N. Byhalia Road
Collierville, TN 38017
Loan Amount: $10.6 million

Loan Date: Jan. 19, 2007

Maturity Date: Jan. 19, 2017

53. Archived Article -

3845 Crowfarn Drive
Memphis, TN 38118
Sale Amount: $2.8 million

Sale Date: Dec. 14, 2006

Buyer: Cabot II-TN1W09 LLC

54. This Little Piggy Went to Memphis -

Would you open a wing store in Buffalo? How about a brewery in St. Louis? That's pretty much what a Little Rock-based barbecue restaurant is doing here in the Mid-South.

The Whole Hog Café, a barbecue restaurant started by Little Rock-based Whole Hog Enterprises Inc., plans to open a new store in Memphis' saturated barbecue restaurant market June 1 under a licensing agreement with McMay LLC, which will operate the 6,000-square-foot store at 5727 Quince Road.

55. Playhouse's Dramatic Monologue Continues -

Professional theater company Playhouse on the Square is $7.5 million into a capital campaign to build a $10 million, 400-seat theater at the corner of Cooper Street and Union Avenue.

The organization recently used funds from the city to start demolishing the old Union Avenue Antique Mall that sits on the site.

56. Archived Article: Real Recap - 50

Lauth Plans Business Park Near Holmes and Getwell

50.09 acres near

Getwell Road

Cost: $26.7 million

Borrower: DeltaPoint Park Partners LLC

Lender: Mellon Bank NA

Trustee: Joseph B. Pitt Jr.

Property: 50.09 acres near Holme...

57. Archived Article: Lead - Whitehaven Neighborhood Gets More Homes

More Homes on Tap for Whitehaven

New construction helps community retain residents

LANCE ALLAN

The Daily News

When David Walker took a chance on developing the Diamond Estates subdivision in sou...

58. Archived Article: Shopping (lead) - New center a boon to residential boom

New center a boon to residential boom

By STACEY WIEDOWER

The Daily News

Construction is nearing completion on a 25,000-square-foot shopping center at Houston Levee and Macon roads in Cordova.

The ...

59. Archived Article: G'town (lead) - Germantown recreation center opens expanded facility

Expanded Germantown recreation center opens

By ANDREW BELL

The Daily News

Within two years of opening recreational opportunities to the public, Germantown Centre supervisors could pred...

60. Archived Article: Bonnie Lane (lead) - By LAURIE JOHNSON Shopping center next addition for Bonnie Lane office project By LAURIE JOHNSON The Daily News The foundation is set to be poured Monday for a shopping center that will anchor Bonnie Lane Office Centre in Cordova. The 31,000-square-...

61. Archived Article: Allconnect P.2 - AllConnect AllConnect.com secures funding for site Legacy Securities Corp., a Southeastern investment and merchant banking firm with offices in Memphis and Atlanta, announced the closing of a $13 million round of equity financing from leading ventur...

62. Archived Article: Real Focus (belz) - Belz breaks leasing records in 99 Belz breaks leasing records in 1999   Belz Enterprises had another banner year in leasing and development of commercial, industrial and retail properties, to the tune of 1.3 million square feet of space in 1999...

63. Archived Article: Real Focus (halle) - By LAURIE JOHNSON Construction set to start on final phase of Halle Plantation By LAURIE JOHNSON The Daily News On a crisp fall day in 1988, David Halle stood in the middle of a pasture watching as bulldozers began turning the first hunks of dirt fo...

64. Archived Article: Tech Focus - Memphis music draws business Memphis music draws Internet business By KATHLEEN BURT The Daily News Imagine entering a record store and seeing, aisle upon aisle, every compact disc and DVD movie ever made. Throw in some vinyl records just for good me...

65. Archived Article: Office St - By SUZANNE THOMPSON Office starts increase slightly in second quarter By SUZANNE THOMPSON The Daily News The number of building permits filed in the second quarter for office construction increased slightly over the number of permits filed during th...

66. Archived Article: Atria Commun Lj - lj 10/5 cates Louisville company building assisted living community in Memphis By LAURIE JOHNSON The Daily News Construction is underway on a $3 million assisted-living community on Primacy Parkway, Atria Communities Inc.s first such facility to be ...

67. Archived Article: Collierville Chg - 5-15 chg collierville Collierville expands with two projects in industrial park Auditronics to build new 49,000-square-foot facility By CAMILLE H. GAMBLE The Daily News Two industrial projects were approved this month by the Collierville Planning Co...