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VOL. 125 | NO. 136 | Thursday, July 15, 2010

Daily Digest

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Aren Buys Delp Warehouse from Prologis

Aren Investments LLC of Memphis has paid $1.5 million for the 86,400-square-foot warehouse at 4041 Delp St. from Prologis-North Carolina LP.

Built in 1969, the facility sits on 3.73 acres in Airport Industrial Park at the corner of Delp Street and East Raines Road in the Oakhaven/Parkway Village area.

The Shelby County Assessor of Property’s 2010 appraisal is $1.8 million.

Aren Investments financed the purchase with a $1.2 million loan through BancorpSouth Bank. Igal Elfezouaty signed the trust deed as president of Aren.

SCI North Carolina LP bought the facility in 1995 for $8.7 million. That company in 1998 changed names to Prologis-North Carolina LP.

Source: The Daily News & Chandler Reports

Eric Smith

MLGW to Consider E-mail Upgrade

The Memphis Light, Gas and Water Division board is scheduled to take action on a resolution at Thursday’s meeting awarding a $156,034 contract to Venture Technologies for an e-mail system upgrade.

The board also is scheduled to consider a resolution authorizing the utility company to extend an interdivisional cooperative agreement with the city of Memphis to buy unleaded and low sulfur diesel fuel.

The board meets at 3 p.m. Thursday at the Shelby Farms Park Conservancy Visitors Center, 500 North Pine Lake Drive, which is a change from the usual meeting place in the Downtown MLGW Administration Building.

Board chair Darrell Cobbins wants to have the meetings held throughout the county semi-regularly.

Andy Meek

New Parking Lot Slated for Cordova’s Stella Marris

A $25,000 building permit has been filed to add an additional parking lot at 7955 Fischer Steel Road, the address of a controversial Cordova restaurant that opened eight months ago amid fears its owner might furtively transform it into a strip club.

The building permit for a new parking lot was filed July 12, according to The Daily News Online.

A search of the public record shows two other building permits have been filed in 2010 around the site of Steve Cooper’s Cordova restaurant Stella Marris. Neither appears to be for the restaurant building itself and list an address other than that of the restaurant.

Cooper’s company filed building permits in March and May for 785 N. Germantown Parkway, the former site of a gas station and convenience store immediately east of Stella Marris that Cooper bought last year for $575,000. That gas station has since been demolished, and the March and May building permits reflect that.

One permit says it’s for a property cleanup at 785 N. Germantown Parkway, and the other says it’s for taking down a metal building and pulling up asphalt and concrete at the same address.

– Andy Meek

Shoemaker Financial Acquires Indiana Firm

Shoemaker Financial has acquired The Healy Group of South Bend, Ind.

The acquisition brings an additional $70 million in assets under the Germantown firm’s management and expands Shoemaker’s current presence in Indiana.

Shoemaker has offices in Newburgh, Ind., and Evansville Ind. It also has offices in Nashville and Savannah in Tennessee as well as Jackson, Miss.

The Healy Group was founded in 1977 and like Shoemaker Financial works with broker/deader Securian Financial Services Inc.

Tom Wilemon

Petties Appears in Court on Weapons Charges

Craig Petties, made his first court appearance this week on charges he had a weapon twice this past October while in the Memphis Federal Correctional Institution. (FCI)

Petties was charged while awaiting trial on racketeering, conspiracy, drug trafficking and murder for hire charges in the largest drug case ever brought in Memphis federal court.

The Justice Department is considering seeking the death penalty against Petties and four other codefendants.

Prosecutors have not said what kind of weapons were allegedly found on Petties twice in October. He was indicted in June after he was moved to a federal prison in Tallahassee, Fla., that includes a special unit for prisoners who are considered violent or escape risks or both.

Petties appeared before Federal Magistrate Tu Pham his hands cuffed with a waist chain Tuesday for a brief preliminary hearing.

His attorney, Ross Sampson, had sought a delay in Tuesday’s hearing to have the case heard before U.S. District Court Judge Hardy Mays at Petties next regular report date in the drug case.

He argued in a written motion that doing so would promote “judicial economy.”

“The defendant’s pending matters are so unique that judicial consistency is preferred,” he added.

Mays denied the motion without comment.

– Bill Dries

Fowlkes to Lead Crime Commission

Michelle Fowlkes is the new executive director of the Memphis Shelby Crime Commission. Fowlkes, who is regional director of the nonprofit Save The Children, will succeed Linda Miller, who is retiring in February.

Fowlkes will begin next week with Miller remaining at the organization for a transition period. The Crime Commission oversees the 15-point, anti-crime plan Operation Safe Community. Fowlkes was selected by the organization’s board.

– Bill Dries

Software Company Lends Hand for Habitat

Purple Ant, a Memphis-based software and website development company, will lead a donation matching event Thursday for the TweetForHabitat campaign benefiting Habitat for Humanity of Greater Memphis.

Brian Swanson, founder of Purple Ant and the TweetForHabitat campaign, will match online donations made at www.TweetForHabitat.com from 12 a.m. to 11:59 p.m. on Thursday.

Twitter users are encouraged to tweet and re-tweet messages containing the #Tweet4Habitat tag urging followers to donate at the campaign’s website. Each tweet raises funds for Memphis Habitat through tweet/re-tweet sponsors.

– Taylor Shoptaw

Groundbreaking Set for Jonesboro Hospital

A groundbreaking ceremony will be held Thursday morning for the new NEA Baptist Memorial Hospital in Jonesboro, Ark.

Baptist Memorial Health Care is investing $400 million in Jonesboro to build the hospital and establish the NEA Baptist Health System. The hospital system teamed with NEA Clinic to form the partnership.

– Tom Wilemon

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 65 366 17,721
MORTGAGES 70 417 23,068
FORECLOSURE NOTICES 15 91 4,519
BUILDING PERMITS 210 932 42,157
BANKRUPTCIES 62 299 16,691
BUSINESS LICENSES 19 80 5,781
UTILITY CONNECTIONS 49 305 25,174
MARRIAGE LICENSES 16 96 5,381

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