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VOL. 132 | NO. 220 | Monday, November 6, 2017

Memphis' Spin Street Music Store to Close in January

Spin Street, the record store at the corner of Poplar Avenue and Highland Street, is preparing to close its doors.

Week Ahead: November 6-12

Good morning, Memphis. The week starts off with the conclusion of the Indie Memphis Film Festival, followed by a plethora of cool things to do all week – including the Memphis in May barbecue cooking contest judging seminar. As usual, you rock, Memphis!

Chism Vows Democratic Primary Battle with Harris for County Mayor

Former Shelby County Commissioner Sidney Chism kicked off his bid for county mayor last week by vowing to “beat up on” rival Democrat and state Sen. Lee Harris in the May 2018 countywide primary.

Shipping Container Retail Village Coming to Medical District

A shipping container retail village is planning to open in the Memphis Medical District in mid- to late-November as part of an effort to give entrepreneurs a creative alternative to traditional bricks and mortar.

City’s Maxson Plant Upgrade Offers Cutting Edge Water Treatment

“Everything has a life,” city Public Works Division director Robert Knecht said last week as he stood at the western edge of the wastewater treatment plant that processes 70 million gallons of wastewater a day from the southern part of the city.

Local Weather
Currently
Memphis, TN
79.0°F
Mostly Cloudy
Wind: Northeast at 10.4 mph
Humidity: 74%

EVENTS

The Memphis in May World Championship Barbecue Cooking Contest judging seminar will be held Saturday, Nov. 11, from 9 a.m. to 3 p.m. in SpringHill Suites’ Kress ballroom, 85 Court Ave. The seminar is the only chance this year to qualify as a judge for the 2018 contest. Cost is $95 and includes judging manual, training materials and lunch. Registration deadline is Monday, Nov. 6. Visit memphisinmay.org for details and application.

more events »

Last Word: The Run, 70 Million Gallons a Day and More Shipping Containers

This will be another busy week on the political front with more candidates declaring their intentions in advance of Thanksgiving. Meanwhile, Republican contender for governor Randy Boyd ends his run across the state Tuesday morning on Mud Island – a variation on Lamar Alexander’s walk across the state in the 1978 Republican primary for Governor that remains a part of the state’s political folklore almost 40 years later.

Indie Memphis Film Fest Goes All Out For 20th Anniversary

Indie Memphis Film Festival’s 20th run this week has seen a record number of guests and more than 100 filmmakers from around the world descending on the Bluff City.

REAL ESTATE RECAP

Iconic E. Memphis Office Building Sells for $19.7M

Nashville-based Magnolia Capital Investments has purchased the Trustmark Centre located at 5350 Poplar Ave. from Israeli investors, Faropoint Ventures. Faropoint intends to reinvest proceeds from the sale to buy other Memphis properties.

COMMERCIAL REAL ESTATE

TraVure Developer Unveils East Memphis Project

With two highly-anticipated developments already in the works, Gill Properties has announced plans for a new mixed-use development East Memphis.

Faropoint Acquires Office Portfolio for $19.3M

Fresh off of the sale of the Trustmark Centre, Faropoint Ventures has acquired two more substantial office assets.

THE MEMPHIS NEWS

The Sound of (Memphis) Music

Too often, the city with a musical heritage like few others is absent from the most noteworthy gatherings of artists

By her own account, Marcella Simien fell in love with Memphis on Day One when she moved here to attend college. Almost a decade later, she’s still here, the frontwoman for Marcella & Her Lovers, a band that plays what she describes as “swamp soul” and finished up an album this summer.

Editorial: Memphis Music Due For Grass Roots Push

Marketing a city to potential vacationers is about appealing to short-time visitors: those who will stay for a few days or a week, then go home again. It focuses on what to see, where to go and what to do in a tight timeframe, and often boils down to marketing the most-recognizable tourist spots.

November 3-9, 2017: This week in Memphis history

1933: The Tennessee Brewing Co. reopens for the first time in 15 years with the first bottles of Goldcrest beer, brewed and bottled in Memphis, delivered to stores by the Tennessee Brewing Co.

LAST WEEK'S MOST POPULAR

Patton & Taylor Planning Gated Community Near Highland Row

Between the success of Highland Row, the revitalization of the Highland Strip, and the University of Memphis’ own plans to build a land bridge across the Southern Avenue railroad tracks, the demand for real estate in the area surrounding the U of M is soaring.

Trustmark Centre Sells for Nearly $20M

An iconic East Memphis office building has switched hands for $19.7 million.

Whimsy Expands Into Franchises

The co-owner of a Memphis-based cookie company with one retail store in East Memphis is about to turn her simple recipe for sweet treats into a nationwide enterprise.

I Love Juice Bar Owners Seek Out Venues With History, Community

Not only do I Love Juice Bar owners Scott and Rebekah Tashie want to lead the way when it comes to providing healthy food on the go, the two local restaurateurs also like leading the way when it comes to transformative real estate developments.

Commercial Developers See Bright Future With Collierville's Growth

The town of Collierville has been enjoying strong development activity in all sectors over the past several years, fueled by the area’s strong schools, low crime rate, plentiful amenities and an abundance of developable land.

MEMPHIS AREA

7 Plead Guilty to Mailing Opioid From Nevada to West Tennessee

MEMPHIS, Tenn. (AP) – Seven people have pleaded guilty to smuggling oxycodone pills from Nevada to Tennessee through the U.S. mail.

STATEWIDE

Audit Finds Records Missing in Tennessee Tax Break Program

NASHVILLE, Tenn. (AP) – Some records are missing to vet state tax credits for companies that locate national, regional or state headquarters in Tennessee, a recent audit states.

UT Board of Trustees Approves 1st Phase of Neyland Renovation

KNOXVILLE, Tenn. (AP) – The Tennessee Board of Trustees has approved an updated $180 million first phase of renovation for Neyland Stadium.

NATIONAL BUSINESS

Sales of iPhone X Begin: Can Apple Live Up to the Hype?

SAN FRANCISCO (AP) – Apple's iPhone X went on sale Friday, as the company scrambles to meet demand for a marquee device that sports a lush screen, facial-recognition skills and a $1,000 price tag .

Sears to Close Another 63 Stores

NEW YORK (AP)Sears Holdings Corp. says it will be closing another 63 stores as the ailing retailer tries to turn around its business.

Kroger to Sell Own Line of Clothing Aimed at the Family

NEW YORK (AP) – Kroger is launching its own fashion line starting next fall.

Equifax Calls Executive Stock Sales Days After Breach Legal

ATLANTA (AP) – Equifax, the credit report company hacked over the summer exposing the personal information of 145 million Americans, said a special committee has determined that none of the four executives who sold shares at the time did anything wrong.

NATIONAL GOVERNMENT

Questions Arise Over Departure of First Woman to Lead Fed

WASHINGTON (AP) – Nearly four years into Janet Yellen's history-making turn as the first woman to lead the Federal Reserve, the economy is growing, the unemployment rate is low and the stock market is setting record highs.

3 Things: Yellen's Impact on the Fed and the US Economy

WASHINGTON (AP) – After she steps down in February, Janet Yellen will go into history books at the first woman to have led the Federal Reserve in its 100-year history. But Yellen, who has earned widespread praise for her stewardship of the Fed, will be remembered for much more than breaking a glass ceiling at the world's leading central bank.

US ECONOMY

US Hiring Jumps After Hurricanes as Employers Add 261K Jobs

WASHINGTON (AP) – U.S. employers added a solid 261,000 jobs in October in a bounce-back from the hurricanes that slammed the Southeast in September.

Iconic E. Memphis Office Building Sells for $19.7M

Nashville-based Magnolia Capital Investments has purchased the Trustmark Centre located at 5350 Poplar Ave. from Israeli investors, Faropoint Ventures. Faropoint intends to reinvest proceeds from the sale to buy other Memphis properties.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 83 363 9,932
MORTGAGES 91 378 11,692
FORECLOSURE NOTICES 14 53 1,687
BUILDING PERMITS 213 788 21,098
BANKRUPTCIES 50 213 6,650
BUSINESS LICENSES 40 125 3,564
UTILITY CONNECTIONS 30 139 4,122
MARRIAGE LICENSES 12 91 2,270

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The Memphis News: Business, politics, and the public interest.