VOL. TMN-9 | NO. 44 | Saturday, October 29, 2016
Even the lagging Memphis office market is becoming more active
The year’s biggest office deal didn’t affect Memphis’ office absorption at all, but everyone in real estate has felt its reverberations.
TraVure in Germantown, Big River Crossing, Guest House at Graceland, Crosstown Concourse. That’s not to mention Graceland West, the larger plans for Germantown’s Western Gateway, and references to the Big River Park in West Memphis as “Shelby Farms West.”
SPECIAL EDITION Commercial Real Estate
A North Mississippi industrial park more than 10 years in the making is reaching the finish line. By next May, Hillwood Investment Co. will wrap construction on a 947,000-square-foot warehouse on the final parcel in the DeSoto Trade Center.
Ask CBRE senior associate Gray Fiser to sum up the commercial real estate market in Memphis over the course of 2016, and he’s ready with a few quick bullet points by way of reply.
Multifamily real estate sales have been strong in Memphis for a couple of years, and the 41 transactions posted in the third quarter mark the most recorded in a quarter in two years.
McNeill Commercial Real Estate doesn’t focus on one discipline, location or product type.
The developer of Germantown’s mixed-use TraVure project is anxious to start work on the development’s centerpiece, a five-story Class A office building that now has an anchor tenant for most of the space – the headquarters of Memphis-based MAA, or Mid-America Apartment Communities Inc.
THE MEMPHIS NEWS ALMANAC
2015: Republican presidential contender Ben Carson campaigns in West Memphis with a stop at West Memphis High School. At the time, Carson is leading in the polls in Iowa, the first stop for the Democratic and Republican presidential contenders in 2016.
The new Operation: Safe Community five-year anti-crime plan should be released in November and it will likely be a more focused set of goals and objectives. That’s what we heard as The Daily News Editorial Board talked with Memphis-Shelby Crime Commission president Bill Gibbons and crime commission vice president for Social Engagement Harold Collins.
The U.S. Justice Department agency reviewing the Memphis Police Department will start meeting the public after Thanksgiving in the first two town hall meetings to hear from citizens.
Talk to local professionals with their finger on the pulse of the local economy – say, bankers, who are of course on the front lines to gauge things like consumer demand and borrowing ability – and the story they tell is of an economy on the move.
TRANSPORTATION & LOGISTICS
The Memphis Area Transit Authority in November will begin developing a new strategic plan to rebuild Memphis’ transit system, according to MATA chief executive officer Ron Garrison.
The Heartbreak Hotel on Elvis Presley Boulevard was full Wednesday, Oct. 26 – its final night as a hotel.
City Hall’s effort to improve the level of business Memphis does with minority-owned firms has to meet up with the broader local effort to improve the growth of minority businesses in private, business-to-business contracts, says one of the leaders of the 2-year-old renewed push on both fronts.
Rex Jones, CEO and president of Hope Christian Community Foundation, describes what they do in the simplest of terms:
The road in Piperton near Albert Spillers Bridge on state Highway 196 is gravel and it is steep. But it is the way to a new boat access point onto the Wolf River that is formally dedicated Wednesday, Oct. 26.
The past year has seen financial institutions like Iberiabank and BancorpSouth head to the Memphis Medical District to open new branches, a trend that picked up steam this week with yet another bank following suit.
On the first Saturday morning in which it was consistently autumn by the weather conditions as well as the calendar, political leaders on both sides of the Mississippi River walked from Memphis and West Memphis to meet in the middle of the Big River Crossing.
The Beale Street entertainment district is preparing for a Christmas parade and a New Year’s Eve celebration beyond Wednesday’s opening of the lucrative Memphis Grizzlies season.
The hope has been that the redevelopment of Central Station in the South Main area would cause a ripple in development to the east and link up with the sprawling South City development that encompasses the Foote Homes public housing development, the area south of FedExForum, and go south of Crump Boulevard.
More than 56,000 citizens voted early in Shelby County over the first four days of the early voting period in advance of the Nov. 8 general election.
In the sanctuary of Mississippi Boulevard Christian Church last week, with former Mississippi Gov. William Winter and some students who racially integrated Memphis public schools in 1961, Swin Cash talked about memories of her last season as a professional athlete.
Broad Avenue has in recent years gone from a stretch of empty storefronts broken up by isolated businesses to a vibrant commercial district complete with abundant foot traffic and visitors making frequent trips to coffee shops, restaurants and galleries.
The night before his first game as an NBA head coach, David Fizdale received a surprise when he went to his front door.
Dedric Lawson’s accomplishments last season are well-documented. Tied Keith Lee’s University of Memphis record for doubles-doubles by a freshman with 17. Averaged 15.8 points and 9.3 rebounds per game. Blocked 55 shots.
The first College Football Playoff rankings come out on Nov. 3, after Week 9. The final ranking is issued on Dec. 6. After eight weeks, we don’t know what the four-team playoff will look like, but we have a pretty good idea what it won’t look like.
Based on the eye test as well as what has transpired on the field, I think it’s pretty safe to say Alabama is the best team in the SEC.
Tennessee begins the easy part of its football schedule Saturday, Oct. 29, at 7:15 p.m. (ESPN2) against South Carolina in Columbia. Just don’t tell UT coach Butch Jones this is the easy part of the schedule.
By the time many of you read this, Marcus Mariota might have already torched the Jacksonville Jaguars.
THE TIPPING POINT
Three years, he told himself. Three years and Scott Fountain would move back to Florida. It was 1991, and Fountain had recently relocated to Memphis. He was the new vice chancellor of development and alumni relations at the University of Tennessee Health Science Center – the youngest person ever to hold the job. His wife soon followed, and two weeks later, their daughter was born.
Rola Obaji has been named CEO of McDonald Murrmann Women’s Clinic. Obaji, who has more than 20 years’ experience managing medical groups, comes to McDonald Murrman from Integrity Oncology, where she had served as CEO since 2009.
LETTER TO THE EDITOR
Nearly half of all people with Alzheimer’s and other dementias are in hospice care at the time of their death. Less than half of surveyed nursing homes have some sort of palliative care program. For people with advanced dementia, such care which focuses on managing and easing symptoms, reducing pain and stress, and increasing comfort improves quality of life, controls costs, and enhances patient and family satisfaction.
Ray’s Take With all the technological changes that have happened in recent years, digital assets need to be a part of your estate plan.
RED STATES. RED HERRINGS. Earlier this year, I wrote about laws our state Legislature passed in their last session to solve problems that didn’t exist.
The Shelby County Home Rule Charter serves Shelby County government the same way that the United States Constitution serves our country and our federal government. Our county charter was carefully written by a special committee of citizens 30 years ago and it has served the people of Shelby County well, putting into place checks and balances and clear lines of accountability that are essential for a fair and efficient government.
A Gallup research study of employee engagement released in 2012 found that only 30 percent of employees in the workplace in the United States are actively engaged in the work they do. Which means that 70 percent of the employees are either not engaged (52 percent) or actively disengaged (18 percent).
Looking back, I’m struck by the irony: This column’s shutting down at year’s end. She’s been around, in one form or another, for 32 years. Read that: I’ve been on deadline, like, forever! And only recently am I seeing strategies that I ought to have employed, if not from the start, then from 2005, when the I Swear Crossword began to run alongside it.
MTSU student Emily Webb cobbled together enough money to pay for her first year and a half of expenses.
Sometimes, the devil really is in the details. This is especially true when it comes to the questions you ask when you’re looking for a job. Asking the wrong question, or not asking the right question, can get you into trouble when you least expect it. And it can be tricky to know when to ask which questions.
I’ve always contended that there are few business professions as challenging as a career in sales, so it’s not surprising that more than 45 percent of salespeople don’t meet their annual quota, according to a CSO Insights 2015 Sales Compensation and Performance Management Study. The reasons are varied and often involve sales discipline. In the sales world, discipline is often defined as setting an activity schedule and sticking to it.
It takes two factors to make innovation real at an organization: concepts and culture. Work on both at the same time and the rest will emerge as a byproduct of the process.
Are you brave enough to have an open and honest conversation about your organization’s fundraising? Are you willing to step out from behind your role as executive director and have an honest talk with your board chair?