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VOL. 125 | NO. 61 | Tuesday, March 30, 2010

Daily Digest

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Bartlett Retail Center Sold After Foreclosure

The 20,000-square-foot retail center at 6496 U.S. 70 (Summer Avenue) in Bartlett has sold for $739,000 to IBERIABANK following foreclosure.

The bank bought the center March 24 from Kelly E. McCarthy of Morton & Germany PLLC. She served as substitute trustee in the matter along with Jeffrey D. Germany, both of whom were appointed to that position in June 2009.

The previous owner, Lincoln Square Group LLC, defaulted on a $1.8 million deed of trust through Pulaski Bank and Trust Co. of Little Rock dated April 18, 2006. The holder of the debt is now IBERIABANK.

Lincoln Square Group bought the Class A center, which sits on 2.48 acres along the west side of Summer Avenue, for $1.9 million in 2006. The company bought the then-10,000-square-foot center from West TN Properties.

The Shelby County Assessor of Property’s 2009 appraisal of the property, whose address is also known as 6496-6498 U.S. 70, was $1.6 million.

Source: The Daily News Online & Chandler Reports

Highwoods Renews Lease With Agency Services

Highwoods Properties Inc. has announced a 3,700-square-foot lease renewal with Agency Services Inc. at Highwoods’ Southwind Office Center, 8275 Tournament Drive.

Wyatt Aiken of Commercial Advisors LLC represented Agency Services, a full-service life and health brokerage agency. Tony Argiro represented Raleigh, N.C.-based Highwoods.

“We appreciate Agency Services for choosing to stay with Highwoods as their office space provider, and we look forward to calling them our customer for many years to come,” Steve Guinn, vice president of Highwoods’ Memphis division, said in a statement.

Memphis-based Agency Services has been working with independent insurance brokers in the southeastern U.S. since 1962.

Eric Smith

French Officials in Town For Aerotropolis Summit

A contingency from Charles de Gaulle International Airport in Paris is in town this week to learn about the Memphis aerotropolis initiative and to share its own practices for promoting a city’s airport as an economic engine.

During the three-day summit, dubbed “In Perfect Alignment,” Memphis officials will provide an overview of how the aerotropolis concept works here, from the city’s designation as a place where “runway, road, rail and river merge” to the effect it has on commercial real estate.

Other agenda items include touring the FedEx Super Hub at Memphis International Airport and the BNSF Railway Co. intermodal facility, and meeting with officials from electronics and bioscience companies.

The summit concludes Wednesday.

Eric Smith

UTHSC Honors Nanoscience Field

The Department of Pathology and Laboratory Medicine at the University of Tennessee Health Science Center will host a daylong NanoDays celebration today.

NanoDays is an annual nationwide effort to inform and educate the public about the impact of nanoscience.

Dr. Robert F. Curl Jr., winner of the 1996 Nobel Prize in chemistry, will be the special guest. Curl will deliver the keynote speech at 6:30 p.m.  

Curl won the Nobel Prize for discovering the first fullerene called buckminsterfullerene, or buckyball. It is the third form of pure carbon after diamond and graphite.

In addition to Curl’s speech, a nanomedicine symposium will be held from 10:30 a.m. to 2 p.m.

For more information including a schedule of events, visit www.uthsc.edu.

— Taylor Shoptaw

Memphis Gas Prices Fall 8 Cents

The gas price Web site MemphisGasPrices.com reported Monday that average retail gas prices in Memphis have fallen 8 cents per gallon in the past week, averaging $2.59/gallon Monday.

The national average has stayed flat, moving just 1.6 cents per gallon in the past week to $2.79/gallon.

Local gas prices are 67 cents per gallon higher compared to a year ago, and 2.4 cents per gallon higher than a month ago.

Rebekah Hearn

Bill Proposes Permit In Mtn. Stone Disputes

Legislation that would get the state involved in disputes over removal of mountain stone goes before a

Tennessee House panel today.

The bill says that if mineral-rights owners do not have a written agreement with the property owner, they must get a surface-mining permit.

Currently, the state has rules requiring that mined areas be stabilized so they do not erode and impact water quality.

Versions of the bill have been introduced over the past three years.

— The Associated Press

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 83 415 10,637
MORTGAGES 87 499 13,826
FORECLOSURE NOTICES 19 99 2,743
BUILDING PERMITS 0 915 25,222
BANKRUPTCIES 79 343 10,235
BUSINESS LICENSES 19 97 3,833
UTILITY CONNECTIONS 143 573 15,130
MARRIAGE LICENSES 23 106 3,273

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