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VOL. 129 | NO. 171 | Wednesday, September 03, 2014

Daily Digest

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‘Penny’-Led Group Buys Dulins Sports Complex

A company called FBC LLC, whose president is Memphis basketball legend Anfernee “Penny” Hardaway, has paid $1.3 million for the Dulins Sports Complex at 7790 Fischer Steel Road in Cordova.

FBC bought the 40,708-square-foot indoor recreation facility in an Aug. 26 special warranty deed from Multi-Sports Complex LLC, which had acquired the property in 2007 for $2 million from Sports Complex LLC

Built in 1994, Dulins Sports Complex sits on 2 acres along the north side of Fischer Steel Road at its intersection with Herbert Road, just off Germantown Parkway. The Shelby County Assessor of Property’s 2014 appraisal is $1.5 million.

Dulins Sports Complex was founded by former baseball player Tim Dulin and is an indoor facility for “baseball, softball, martial arts, conditioning, soccer, lacrosse and other sports,” according to its website.

In conjunction with the purchase, FBC filed a $739,500 loan through First Tennessee Bank NA. Hardaway and Stacey Neel signed the trust deed as member/president/secretary and member/vice president, respectively.

Source: The Daily News Online & Chandler Reports

– Daily News staff

Law Firm Inks Lease at Overton Square

Overton Square has landed its first professional services tenant.

Memphis attorney William T. Maxwell Jr. is forming a new residential real estate closing company and commercial services firm and has signed a 2,500-square-foot lease at 51 N. Cooper St. in Overton Square.

Maxwell is a longtime Memphis real estate and closing attorney who represented the Overton Square Merchants Association during the mid-1980s and is familiar with the history and importance of the square as a Memphis landmark.

"I am a Midtowner at heart and being in the Parkways gives me excellent proximity to most of my clients,” Maxwell said in a statement. “Also, there is a connection to Overton Square from a community aspect.”

– Amos Maki

Report: Cost to Raise Child in Memphis Tops $208,000

Memphis is one of the least expensive cities in which to raise a child.

That’s according to the personal finance website NerdWallet, which looked at the average cost of raising a child to the age of 18 in 288 major cities. In Memphis, the site found, it costs a little more than $208,000 on average – compared to, on the high end of the scale, $540,514 to raise a child in New York City.

To arrive at those numbers, NerdWallet looked at the national average from the U.S. Department of Agriculture and adjusted it for each city’s cost of living.

– Andy Meek

Schweinehaus Opens in Overton Square

Schweinehaus is now open in Overton Square.

The new eatery, at 2110 Madison Ave., is a German-themed restaurant in the space formerly occupied by Paulette’s.

Among its features are servers wearing traditional German garb and handmade wood tables of the kind found in many German beer halls.

– Andy Meek

Grizzlies Waive Guard Jamaal Franklin

Shooting guard Jamaal Franklin, a second-round pick in the 2013 NBA Draft, never cracked the Grizzlies’ rotation as a rookie and won’t get a chance to change that this season.

The Grizzlies waived Franklin, 23, who averaged 1.9 points while playing in just 21 regular-season games for the Grizzlies. Franklin, drafted out of San Diego State, spent much of last season playing in the NBA Development League and did not shoot well in recent NBA summer league action.

– Don Wade

New Commission Holds First Committee Sessions

Shelby County Commissioners hold their first committee sessions Wednesday, Sept. 4, in advance of their first voting meeting Sept. 8.

In addition to committee recommendations on tax delinquent property sales, the commissioners will get briefings on the Downtown Memphis Commission, Greater Memphis Chamber, Memphis Convention and Visitors Bureau and Economic Development Growth Engine. The committee sessions from 8:30 a.m. to 11:30 a.m. also include a discussion about who will be chairman of the commission, which includes six new members, and second-term division director appointments by Shelby County Mayor Mark Luttrell.

– Bill Dries

Memphis Running Back Makes AAC Honor Roll

University of Memphis freshman Jarvis Cooper, who rushed for 101 yards and a touchdown during the fourth quarter of a 63-0 shutout of Austin Peay State University, was one of five players selected for the American Athletic Conference’s Weekly Honor Roll.

In addition to naming offensive, defensive and special teams players of the week, the conference honors five additional players for their performances each week. Cooper began the fourth quarter with an 11-yard run and averaged 12.6 yards on eight carries. He had a long run of 37 yards.

The West Memphis native became the 11th University of Memphis player to rush for 100 yards in a game as a freshman.

He also became the fourth Tiger freshman to rush for 100 yards in the first game of a career, following former Tigers coach Larry Porter in 1990, Marcus “Doc” Holiday in 1991 and DeAngelo Williams in 2002.

– Don Wade

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 86 182 13,079
MORTGAGES 135 267 17,025
FORECLOSURE NOTICES 15 36 3,336
BUILDING PERMITS 366 366 30,930
BANKRUPTCIES 69 135 12,478
BUSINESS LICENSES 23 43 4,532
UTILITY CONNECTIONS 182 328 19,221
MARRIAGE LICENSES 32 67 3,976

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