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VOL. 127 | NO. 48 | Friday, March 09, 2012

Daily Digest

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Self-Storage in Whitehaven Sells to Calif. Co. for $1.2M

An affiliate of Emeryville, Calif.-based Devon Self-Storage called Devon-Memphis LLC has bought a self-storage facility site at 3417 Fontaine Road in Whitehaven’s 38116 for $1.2 million. The sellers were William C. Bateman Jr., Marjorie Bateman Gore, Robert J. Bateman and Virginia Bateman Hess.

The property has been renamed Devon Self Storage-Memphis.

Built in 1972, the Class D facility has 164,610 square feet of storage space in multiple buildings. The site is on 7.4 acres on the west side of Fontaine Road north of Winchester Road in Hill & Fontaine Co.’s Brooks Avenue subdivision.

The Shelby County Assessor of Property’s 2011 appraisal was $1.7 million.

Devon Self Storage was founded in 1998 and is one of the top 15 self-storage operators in the U.S., according to the company’s website. It owns facilities in 11 states. Its other Tennessee location is in the Nashville area.

Source: The Daily News Online & Chandler Reports

– Daily News staff

MAAR Reports Feb. Home Sales

Memphis-area home sales for February climbed 31.6 percent from a year ago, with 992 sales recorded in the Memphis Area Association of Realtors’ MAARdata property records database, which includes records of all property transactions in Shelby, Fayette and Tipton counties.

Sales rose 14.3 percent from January. Average sales price year over year was down 14.2 percent at $100,788.

Inventory was flat, at 6,873 units listed for sale. Sales volume year to date increased 9.2 percent to $197.5 million.

“Not only did we see a huge jump in sales from this time a year ago, but we had a nice increase from the previous month,” MAAR president Carol Lott said in a statement. “There is more optimism out there then we’ve seen in a long time.”

– Sarah Baker

First Tenn. Parent Honored for Women's Advancement

First Horizon National Corp., the Memphis-based parent company of First Tennessee Bank has been recognized by the National Association for Female Executives and by CABLE, Tennessee’s largest network of professionals helping women reach their full potential, for the company’s efforts to promote and advance women.

(Fittingly, the company’s announcement of the recognition comes the same week as International Women’s Day.)

NAFE has named First Horizon one of the 2012 Top 50 Companies for Executive Women. CABLE recognized First Horizon as one of 10 public companies in Tennessee with two or more female directors on its board.

First Horizon earned NAFE recognition for such efforts as a mentoring program, an emerging leader program, employee resource groups and a performance management system. NAFE also noted educational opportunities such as virtual classes, career workshops, coverage for licensing and certificate programs and as much as $3,000 in annual tuition reimbursement.

– Andy Meek

Isbell Promoted to Boyle Assistant VP

Boyle Investment Co. has promoted Jon Isbell to assistant vice president.

Isbell joined Boyle in 2007 as a property and leasing manager in the company’s retail development department, where he handles new leases and renewals for buildings in the retail portfolio. He also oversees and manages construction and building-related projects as well as day-to-day operations for the Boyle retail portfolio.

Isbell has bachelor’s and master’s degrees from the University of Memphis. He holds real estate licenses in Tennessee and Mississippi and is a member of the Memphis Area Association of Realtors, Tennessee Association of Realtors and the National Association of Realtors.

Founded in 1933, Boyle is a Memphis real estate development, management, sales and leasing firm specializing in mixed use, office, retail, industrial and residential properties.

– Sarah Baker

Hope House Awarded International Grant

For the third time in four years, Hope House, the only program in Tennessee addressing the specific needs of children impacted by HIV and poverty, has received an international grant for its work in Memphis.

The John F. and Marine van Vlissingen Foundation has awarded a grant to help Hope House continue its operations. Over the past four years, the foundation has given nearly $175,000 to Hope House.

John van Vlissingen is the founder of BCD Holdings, a Dutch company that owns a local BCD Travel office in FedEx. The local office has worked with Hope House since 2004, raising funds for the organization’s emergency assistance fund, providing grocery gift cards, gas cards and other financial assistance as needed.

The van Vlissingen’s foundation was created in 2009 to help organizations serving children in need.

The gift will be used to provide free preschool education to children ages 6 weeks to 5 years who are impacted by HIV. Each child at Hope House has a parent or caregiver suffering from the disease or has a family member who has passed away due to an AIDS-related illness.

– Aisling Maki

Playback Memphis Improv to Perform Saturday

Playback Memphis, an improvisational theater troupe that examines issues based on audience suggestions, will hold an interactive performance Saturday, March 10, at the new Leadership Memphis Gallery, 363 S. Main St.

The performance, which starts at 7 p.m., is based on the theme “The power of music” and will feature Deanie Parker, former CEO of the Soulsville Foundation, Stax Records publicist and an accomplished singer.

Audience members will offer performers ideas or tell stories and then watch as actors bring those stories to life. Beyond entertainment, Playback Memphis’ mission as a performance group is to create dialog and reflection while breaking down barriers.

Tickets are $15.

– Andy Meek

HopeWorks to Host 'Evening of Hope' Dinner

HopeWorks Inc. will host its fourth annual Evening of Hope dinner and fundraiser March 22 from 6 p.m. to 8 p.m. at Woodland Hills Event Center, 10000 Woodland Hills Dr.

The scheduled speaker is Ruby Payne, founder of aha! Process and author of more than a dozen books about poverty, will speak. Payne has worked to educate communities throughout the world about the effects of class and poverty on society.

HopeWorks has written and published “HopeWorks! Here’s Proof 22 Stories of Success,” which features personal accounts of successful HopeWorks graduates.

Students whose stories are featured in the book will be in attendance to speak with guests, and the organization will have signed copies available for purchase.

Tickets are $50 each or $500 for table of 10. Sponsorship opportunities are available. The deadline for ticket purchases is March 18.

– Taylor Shoptaw

Asian-American Group Plans Food Bank Drive

Throughout the month of April, Members of the local Asian American and Pacific Islander will collect non-perishable food and monetary donations for the Mid-South Food Bank. For every $1 donated, the agency can buy $4 worth of nutritious food.

The Greater Memphis AAPI Task Force will collect items at an April 21 event from 11 a.m. to 3 p.m. at the City of Memphis Office of Community Affairs, 315 S. Hollywood St.

According to Mid-South Food Bank, nearly 20 percent of Shelby County’s population, one third of whom are children, is food insecure, meaning they don’t always having access to enough food to meet their basic needs. Of that number, 34 percent have incomes above the poverty level, making them ineligible for food stamps or other government assistance.

Asian-Americans and Pacific Islanders make up one of the fastest-growing communities in the Mid-South. In February, two advisers from the White House Initiative on Asian Americans and Pacific Islanders visited the Bluff City for a two day forum hosted by the newly formed Greater Memphis AAPI Task Force.

– Aisling Maki

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 38 349 15,066
MORTGAGES 111 449 19,779
FORECLOSURE NOTICES 33 91 3,886
BUILDING PERMITS 0 512 35,842
BANKRUPTCIES 62 309 14,343
BUSINESS LICENSES 18 138 5,129
UTILITY CONNECTIONS 69 385 21,817
MARRIAGE LICENSES 13 106 4,663

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