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VOL. 129 | NO. 9 | Tuesday, January 14, 2014

Daily Digest

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Owners of Parking Lots File $1.6 Million Loans

Affiliates of Las Vegas-based real estate investment trust MVP REIT have filed two $1.6 million loans on their recently acquired Downtown parking lots.

The companies – MVP PF Memphis Poplar 2013 LLC and MVP PF Memphis Court 2013 LLC – filed the loans Jan. 3 through KeyBank NA on the parking lots at 212 Poplar Ave. and 216 Court Ave., respectively.

The companies in August paid a combined $3 million for the lots. MVP PF Memphis Poplar 2013 LLC bought the Poplar parking lot for $2 million, while MVP PF Memphis Court 2013 LLC bought the Court parking lot for $1 million.

No financing was associated with either purchase at the time of the transactions.

The seller was OC Parking Memphis Poplar LLC – an affiliate of Plymouth Meeting, Pa.-based CoveredBridge Ventures – and both sales were special warranty deeds dated Aug. 28.

The 212 Poplar parking lot is 0.9 acres and sits across from the Criminal Justice Complex at 201 Poplar Ave. Its 2013 appraisal was $514,600, according to the Shelby County Assessor of Property.

And the 216 Court parking lot is 0.5 acres between Third and Fourth avenues. Its 2013 appraisal was $294,200, according to the assessor.

Source: The Daily News Online & Chandler Reports

– Daily News staff

Gould’s Opens Salon at Overton Square

Gould’s on the Square, a boutique salon and spa concept by Philip and David Gould, opens at Overton Square on Tuesday, Jan. 14.

The Overton Square location, at 2093 Madison Ave., will have a full-service hair salon and four treatment rooms for massage therapy and esthetics services. The salon will also offer two spa pedicure rooms and nail services.

Gould’s on the Square will be open Monday through Friday from 9 a.m. to 9 p.m., Saturdays from 9 a.m. to 6 p.m. and Sundays from 1 p.m. to 6 p.m.

Another Overton Square tenant, Cardio Barre, recently opened its doors. Cardio Barre specializes in ballet-based strengthening and lengthening cardio workouts.

The Cardio Barre studio is at 2105 Madison Ave., suites 200-210, on the second floor of the former ice skating rink and Palm Court space.

– Amos Maki

Public Hearing Thursday on School Closings

Shelby County Schools board members and staff will hold a public hearing Thursday, Jan. 16, on the school system’s still-tentative plan to look at closing 13 schools in August.

The information session and public comments start at 6 p.m. at the Shelby County Schools auditorium, 160 S. Hollywood St.

Superintendent Dorsey Hopson’s tentative list for closing includes Alcy, Graves, Gordon, Klondike, Riverview, Shannon and Westhaven elementary schools; Cypress, Corry, Lanier, Riverview and Vance middle schools; and Northside High School.

That list could change depending on what Hopson hears at the Thursday meeting and other input. He expects to take his recommendation to the school board for a vote in February.

– Bill Dries

UTHSC Professor Awarded $1.58 Million Grant

Professor Jonathan Wall of the University of Tennessee Health Science Center has received a $1.58 million grant for amyloid disease research.

Dr. Wall, professor in the Graduate School of Medicine and director of the Preclinical and Diagnostic Molecular Laboratory in Knoxville, received a four-year grant from the National Institute of Diabetes and Digestive and Kidney Diseases, a subsidiary of the National Institutes of Health, to study “Preclinical Diagnostic Imaging of Amyloid.”

Amyloid-related diseases include Alzheimer’s disease and type 2 diabetes. Work by Dr. Wall and his team is making it possible to see amyloid deposits – not just in the brain, but in other organs of the body.

– Don Wade

County Trustee’s Office Wins Pinnacle Award

Shelby County Trustee David Lenoir’s office has been honored by the National Association of State Treasurers with its prestigious Pinnacle Achievement Award.

The office got that award for “excellence in financial operations and for proactive financial literacy outreach.”

Tennessee state treasurer David Lillard, the current senior vice president of the association, said Lenoir has led the trustee’s office “to new heights of excellence.”

– Andy Meek

Faith and Family Night at Grizzlies’ Jan. 17 Game

The Christian rock band Building 429 will perform after the Friday, Jan. 17, Grizzlies-Sacramento Kings game at FedExForum as part of Faith and Family Night. The group’s “Where I Belong” won Song of the Year at the 2013 BMI Christian Awards and hit No. 1 on Billboard Magazine’s 2012 charts.

The band’s appearance concludes the annual concert series. For game tickets, which include admission to the concert, visit grizzlies.com.

– Don Wade

Head of Supermarket Wine Sales Group Leaving

The campaign manager for a group advocating for supermarket wine sales in Tennessee is leaving to become the CEO of the Greater Nashville Association of Realtors.

Jarron Springer has been president of the Tennessee Grocers & Convenience Store Association since 2005, and also leads the Red White and Food campaign pushing for the law change.

Current law keeps supermarkets and convenience stores from selling beer stronger than 5 percent by weight, which is the equivalent of about 6.5 percent in the more common measure of alcohol by volume. Anything stronger can only be sold in liquor stores, which aren’t allowed to sell any items beyond booze and lottery tickets. Advocates want cities and counties to be able to hold votes on whether to allow supermarket wine sales

– The Associated Press

Graduate Edition of ‘Lean In’ Out in April

Prepare for “Lean In,” the next generation.

The publisher of Sheryl Sandberg’s million seller announced Monday that a “graduation edition” will be released in April. “Lean In: Women, Work, and the Will to Lead” will include a letter to graduating students from Sandberg and advice from a range of consultants and executives on how to find work and negotiate salaries.

Published a year ago by Alfred A. Knopf, “Lean In” was one of the year’s top nonfiction books.

It sought to help women empower themselves in the workplace and inspired a nationwide conversation on women in the workforce. The new edition has an announced first printing of 200,000 copies.

Sandberg is Facebook’s chief operating officer.

– The Associated Press

Dunkin’ Brands Plots Further Expansion

Dunkin’ Brands said Monday that its franchisees and licensees plan to open 685 to 800 new Dunkin’ Donuts and Baskin-Robbins locations globally this year.

In 2013 franchisees and licensees opened a combined 790 new Dunkin’ Donuts and Baskin-Robbins worldwide.

Dunkin’ Brands Group Inc. Chairman and CEO Nigel Travis said in a statement that it is still on pace for a 5 percent annual development rate for Dunkin’ Donuts in the U.S. There were 371 new Dunkin’ Donuts restaurants opened in the U.S. last year. The company anticipates that franchisees will open 380 to 410 new Dunkin’ Donuts locations in the U.S. in 2014.

Baskin-Robbins opened four new locations in the U.S. in 2013. The company expects franchisees and licensees to open five to 10 new Baskin-Robbins locations in the U.S. in 2014.

Dunkin’, whose doughnut shops are common sights on the East Coast, is working to expand in the western U.S., where it is thinly represented. The company said it has deals to open nearly 100 locations in California and is now working to sell franchises in northern California.

Overseas, Dunkin’ Donuts opened 138 new restaurants abroad in 2013. Baskin-Robbins opened 277 new locations outside the U.S. last year. Dunkin’ Brands, based in Canton, Mass., had almost 11,000 Dunkin’ Donuts and more than 7,250 Baskin-Robbins restaurants at 2013’s end.

– The Associated Press

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 109 433 13,330
MORTGAGES 114 591 17,349
FORECLOSURE NOTICES 11 93 3,391
BUILDING PERMITS 0 366 30,930
BANKRUPTCIES 76 352 12,695
BUSINESS LICENSES 21 108 4,597
UTILITY CONNECTIONS 77 564 19,457
MARRIAGE LICENSES 29 151 4,060

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