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VOL. 128 | NO. 158 | Wednesday, August 14, 2013

Daily Digest

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Hickory Hill Facility Sells for $1.8 Million

A manufacturing and distribution facility at 5195 Bledsoe Road in Hickory Hill has sold for $1.8 million.

AC Properties-TN LLC bought the 105,710-square-foot building in an Aug. 9 warranty deed from Crews 5145 LLC, an affiliate of Memphis-based real estate company Crews Investment Properties.

Built in 1994, the property sits on 5.3 acres at the northwest corner of East Holmes Road and Hickory Hill Road, which runs parallel to Bledsoe Road. An alternate address for the property is 5185 Hickory Hill Road.

The Shelby County Assessor of Property’s 2013 appraisal is $2.6 million.

Mike Slattery signed the warranty deed as vice president of Crews 5145 LLC.

The buyer filed a nearly $2 million deed of trust through Merchants and Farmers Bank. Angela Cook signed the trust deed as president of AC Properties-TN LLC.

Source: The Daily News Online & Chandler Reports

– Daily News staff

First ‘Neighborfood’ Event Happening Aug. 24

The inaugural “Neighborfood” event is happening Aug. 24 from 2 p.m. to 6 p.m.

That’s when foodies will explore Downtown Memphis by eating at eight different restaurants all within walking distance. The participating restaurants will each offer one special dish, and specialty cocktails will be offered at various locations.

The Daily News is a co-sponsor of the event, and a portion of the proceeds will benefit House of Mews, a nonprofit cat sanctuary in Cooper-Young.

Tickets can be bought at www.dishcrawl.com/nf, and the $15 price includes admission and one ticket good for the choice of food or drink.

Bundled ticket packages are available at discounted prices online.

– Andy Meek

Downtown Marriott Rebrands as Sheraton

Starwood Hotels & Resorts Worldwide Inc. has rebranded the Memphis Marriott Downtown hotel as a Sheraton, and the property is undergoing renovations to bring that brand’s amenities and services.

“Sheraton is delighted to be part of the Memphis community with the opening of this terrific Downtown property, as we continue to aggressively expand the brand in dynamic destinations worldwide,” said Hoyt Harper, global brand leader for Sheraton Hotels & Resorts. “Sheraton Memphis Downtown Hotel will welcome travelers with a stylish, comfortable and social atmosphere where they can enjoy all the brand’s recently enhanced signature services and amenities in a convenient location near leading Memphis attractions.”

Sheraton Memphis Downtown Hotel, at 250 N. Main St., is connected to the Memphis Cook Convention Center and is within walking distance to Downtown restaurants, art galleries, boutiques and nightclubs. The hotel was originally a Holiday Inn Crowne Plaza before being converted to a Marriott.

Owned by Host Hotels & Resorts Inc., the Sheraton Memphis Downtown Hotel features 14,000 square feet of meeting space, 600 guest rooms, a full-service restaurant and lounge and an indoor pool. The hotel is managed by Atlanta-based Davidson Hotels & Resorts.

The Sheraton Memphis Downtown Hotel will feature the brand’s Link@Sheraton experienced with Microsoft social hub and a Link Café.” The guest rooms will be upgraded to include Sheraton Sweet Sleeper beds, oversized work desks, ergonomic chairs, high-speed Internet and LCD flat-screen televisions.

– Amos Maki

Tennessee Shakespeare Co. Expanding Volunteer Guild

Tennessee Shakespeare Co. has put out a call asking for new participants for its volunteer guild, The Groundlings.

An orientation meeting is scheduled for Aug. 20 at 8 p.m. at St. George’s Episcopal Church in Germantown.

The Groundlings assist with ushering and merchandise/concession sales. They also help with food and drinks for projects and events, provide assistance for the Valentine’s Gala, support the production crew and help house actors who come here from around the country.

Groundlings receive free tickets to each show, an invitation to the dress rehearsal and post-dress rehearsal mixer, monthly newsletters via email and exclusive merchandise, among other things.

– Andy Meek

Memphis CPA Firm Unveils New Website

Memphis-based CPA firm Reynolds, Bone & Griesbeck PLC has unveiled a new website designed by 305 Spin Inc.

Features of the new website, www.rbgcpa.com, include a resource center with a database of articles, brochures and newsletters. There’s also a list of career opportunities and a comprehensive list of services provided.

The firm’s services include financial statement audits, tax return preparation, regulatory examination support and more.

– Andy Meek

Haslam Names Larry Martin Finance Commissioner

Gov. Bill Haslam has named Larry Martin the new commissioner of the state Department of Finance and Administration. He has been the interim commissioner since June 1. The 65-year-old succeeded Mark Emkes, who retired in May.

Martin joined the governor’s staff last year as a special assistant to the governor and helped oversee implementation of Haslam’s civil service reform legislation.

From September 2006 to December 2011, Martin served as deputy to the mayor in Knoxville for both Haslam and Mayor Daniel Brown. His responsibilities included finance, public works and community development.

– The Associated Press

US Business Stockpiles Unchanged in June

U.S. businesses left stockpiles unchanged in June while sales rose modestly, an encouraging sign.

The Commerce Department said Tuesday that business stockpiles were flat in June compared with May. Inventories had fallen a slightly 0.1 percent in May. Sales rose 0.2 percent in June after a solid 1.1 percent increase in May. The stagnant level for stockpiles could be setting the stage for inventory rebuilding in coming months. That would support increased factory production and overall economic growth in the second half of this year.

Business stockpiles in June stood at a seasonally adjusted $1.66 trillion, 3.5 percent higher than a year ago. Inventories at the manufacturing and retail levels both rose 0.1 percent. Stockpiles at the wholesale level fell 0.2 percent, the third consecutive decline. June’s sales increase was led by solid gains at the retail and wholesale level. But sales by manufacturers declined 0.4 percent.

The government estimated the economy grew 1.7 percent from April through June. Economists think the growth rate will be revised up because a report last week showed that U.S. companies exported a record number of goods in June. Some analysts think the revision could increase estimated growth in the April-June period to an annual rate of around 2.3 percent.

– The Associated Press

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 64 64 16,477
MORTGAGES 72 72 21,504
FORECLOSURE NOTICES 0 0 4,266
BUILDING PERMITS 0 0 39,378
BANKRUPTCIES 68 68 15,610
BUSINESS LICENSES 13 13 5,504
UTILITY CONNECTIONS 84 84 23,657
MARRIAGE LICENSES 37 37 5,072

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