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Editorial Results (free)

1. Buzz Around Spec Office Space Starts to Swirl -

International Paper Co.’s new office tower in East Memphis is under construction now, but it’s been four years since the last speculative office building opened its doors in Memphis.

2. Deadline Nears for Pinnacle Awards -

The deadline for the Memphis Area Association of Realtors Commercial Council’s 13th annual Pinnacle Awards ceremony is fast approaching.

The deadline for Commercial Council members to enter the Pinnacle Awards, an event that brings commercial real estate industry professionals together and honors them for their accomplishments in the previous year, is Friday, Feb. 21, at 5 p.m. Winners will be honored at an April 3 ceremony at Memphis Botanic Garden.

3. 13th Annual Pinnacle Awards On the Horizon -

Planning is well underway for the Memphis Area Association of Realtors Commercial Council’s 13th annual Pinnacle Awards ceremony, an evening dedicated to bringing commercial real estate industry professionals together and honoring them for their accomplishments in the previous year.

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. Office Team Helps Colliers Expand Local Footprint -

As a part of the Colliers International office in Memphis’ growth strategy, the brokerage office has been expanding its presence in the office sector over the past year by adding a new office team consisting of Frazier Baker and Will Barden.

7. Events -

The University of Tennessee Health Science Center will host Line Dancing for BLUES, in recognition of Infant Mortality Awareness Month, on Tuesday, Sept. 24, from 11 a.m. to 2 p.m. in the student alumni center, 800 Madison Ave. The event will include a line dance-a-thon, and information on infant mortality and the BLUES Project. Suggested donation is $5. Visit uthsc.edu/blues for details.

8. Pinnacle Awards Entries Due Friday -

The deadline for local commercial real estate brokers to enter the 12th annual Pinnacle Awards is Friday, Feb. 15.

The Memphis Area Association of Realtors Commercial Council will honor those top producers in the industry at an April 25 ceremony at the Memphis Country Club, 600 Goodwyn St.

9. Deadline Fast Approaching for Pinnacle Awards -

The Memphis Area Association of Realtors Commercial Council is well under way in planning the 12th annual Pinnacle Awards ceremony, a night dedicated to showcasing commercial real estate industry professionals in the area.

10. FDIC Signs Lease In Lakecrest -

Federal Deposit Insurance Corp. has inked a substantial lease in Lakecrest III, marking the market’s largest office lease signing this year.

11. Office Market Outlook Tied to Small Biz Expansion -

Companies seeking larger blocks of office space are staying on the sidelines for the most part so far this year because of diminishing inventory in the area’s hottest submarkets of East Memphis, the Tenn. 385 corridor and Downtown.

12. CRE Activity Stays Strong During 2011 -

Despite hard times, local commercial real estate firms were able to ink plenty of deals in the past 12 months.

Memphis’ industrial leasing activity kicked off in January when Buena Park, Calif.-based Pacific Logistics Corp. signed a 60,000-square-foot lease in ProLogis Park DeSoto for its first Memphis-area location.

13. Prolonged Recession -

In the words of Phil Woodard, an owner of multiple residential and commercial properties in Downtown Memphis, breaking even is the new profit.

Or as national real estate expert Jonathan Miller said earlier this month at the Urban Land Institute’s Real Estate Outlook for the Mid-South, “We cannot expect to make money the way we did a few years ago.”

14. IDB Electrolux Committee to Meet Thursday -

The Memphis-Shelby County Industrial Development Board will hold an Electrolux committee meeting Thursday, Dec. 22.

The meeting will be at 7:30 a.m. in the SunTrust Bank building, 999 Shady Grove Road, suite 208.

15. Mercer Ready to Steer MAAR Commercial Council -

John Mercer does not take over as 2012 president of the Memphis Area Association of Realtors Commercial Council until Jan. 1, but he is already working hard planning several big MAAR events for early next year.

16. Green Shoots -

As the local commercial real estate market approaches the end of 2011, experts say it appears to be in line with national fundamentals for secondary and tertiary markets.

Shelby County commercial sales in the third quarter were the highest sales volume since Q3 2007, with $259 million, according to real estate information company Chandler Reports, www.chandlerreports.com.

17. Two Tenants Join Ridgeway Center -

Boyle Investment Co. has inked a pair of new office leases at 999 S. Shady Grove Road in Ridgeway Center, building on its longevity with two local companies.

18. Boyle Adds 2 Tenants to Ridgeway Center -

Boyle Investment Co. has inked a pair of new office leases at 999 S. Shady Grove Road in Ridgeway Center, building on its longevity with two local companies.

19. Dixon Hughes Goodman Eyes Local Growth -

Certified Public Accounting firm Dixon Hughes Goodman LLP will step up efforts to expand its forensic, litigation support and valuation practice in the Memphis market following its April 1 formation.

20. 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.

21. Gaining Momentum -

The office leasing market in Memphis is gaining momentum in the first few months of this year, following a slow but steady 2010.

Last year, smaller users kept the market afloat. But in the past month, an influx of interest from large users has been a welcome – and pleasant – surprise for the market.

22. Glankler Brown Departs Downtown -

Glankler Brown PLLC, a law firm that has been a Downtown mainstay for nearly a century, won’t renew its lease at One Commerce Square and will move to East Memphis.

23. Glankler Brown Departs Downtown -

Glankler Brown PLLC, a law firm that has been a Downtown mainstay for nearly a century, won’t renew its lease at One Commerce Square and will move to East Memphis.

The firm on Friday announced a 10-year, 32,000-square-foot lease with Highwoods Properties at Triad Centre I at Poplar Avenue and Shady Grove Road near Interstate 240, in the heart of the most desirable office corridor in town.

24. Farris Bobango Vacates Space -

The 20th floor of One Commerce Square is on the market for a new tenant because the law firm of Farris Bobango Branan PLC is leaving Downtown for new digs in East Memphis.

The move to 999 Shady Grove Road should begin in early June, said Mark Halperin, executive vice president of Boyle Investment Co., which leased the property to the law firm.

25. Events -

The American Advertising Federation Memphis will hold a roundtable discussion titled “Optimize Your State and Local Tax Posture” today from 8:30 a.m. to 9:30 a.m. at Dixon Hughes, 999 S. Shady Grove Road, Suite 400. Cost is $15 for members and $30 for nonmembers. For reservations, e-mail info@aafmemphis.org.

26. Events -

Jackson Lewis LLP will lead a seminar discussing how the amendments to the Americans with Disabilities Act and revisions to the Family Medical and Leave Act regulations will affect companies today from 8 a.m. to 10 a.m. at the law firm, 999 Shady Grove Road. The seminar is for business owners, chief executive officers, human resource managers and other individuals responsible for personnel matters. Cost is $30 and includes breakfast. To register, call 462-2627 or e-mail mejiam@jacksonlewis.com.

27. Events -

The Shelby County Commission will hold committee meetings today beginning at 8:30 a.m. in the fourth floor committee room of the Shelby County Administration Building, 160 N. Main St. For more information, call Steve Summerall at 545-4301.

28. One Commerce Square Faces Foreclosure -

The real estate crisis has struck a blow to the Memphis skyline, hitting one of Downtown’s tallest and most iconic towers.

Trustees have filed a first-run foreclosure notice on One Commerce Square at 40 S. Main St. and will sell the 31-story building on the courthouse steps May 27. The notice appears in today’s print edition of The Daily News and also at The Daily News Online, www.memphisdailynews.com.

29. SunTrust Welcomes Change of Scenery -

By now, it should be obvious that the business landscape of the banking world has changed dramatically. The physical landscape is changing, too, and a flurry of changes within the Memphis market of Atlanta-based SunTrust Banks Inc. offers some examples of that.

30. Office Market Fares Well in Tough Times -

In another case where numbers don’t paint the entire picture of the real estate market, consider the latest office statistics for Memphis compiled by the local branch of CB Richard Ellis (CBRE).

While the city’s office sector registered a disappointing 234,330 square feet of negative absorption during the second quarter (April through June), it doesn’t indicate any single employer’s mass exodus from the city. Instead, that figure resulted from FedEx shifting a large share of its employees in the airport area to its owner-occupied world headquarters at Hacks Cross and Winchester roads, vacating 255,067 square feet in the process.

31. Pedcor Files Construction Loan For Ashland Lakes Phase II -

Address: 7660 State Line Road

Memphis, TN 38125

Sale Amount: $1.3 Million

Sale Date: May 13, 2008

Buyer: Pedcor Investments-2007-CVIII LP

Seller: Pedcor Investments

32. Boyle Files Permit For SunTrust Installation -

SunTrust Banks Inc. has taken another step in its move to East Memphis.

Boyle Investment Co., operating as Boyle 999 Shady Grove LLC, has filed a $1.9 million application for permit with the city-county Department of Construction Code Enforcement to complete tenant installation for SunTrust at Boyle’s 155,000-square- foot office building at 999 S. Shady Grove Road.

33. Boyle Files $24M LoanTo Build SunTrust Site -      Boyle Investment Co. has filed a $24 million construction loan for the 155,000-square-foot office building that will house consolidated offices for SunTrust Banks Inc. Boyle filed the loan under the name Boyle 999 Shady

34. Boyle Files $15M PermitFor Shady Grove Office Building -      Boyle Investment Co. has filed a $15.1 million permit with the city-county Department of Code Enforcement for a new Class A office building at 999 S. Shady Grove Road. The structure will be six stories and about 150,000