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Editorial Results (free)

1. ServiceMaster’s Net Income Slightly Lower in 2016 -

Memphis-based ServiceMaster Global Holdings reported net income for 2016 of $155 million compared to $160 million for 2015.

The earnings statement released Thursday, Feb. 23, showed fourth-quarter net income of $31 million, or 23 cents per share, versus $17 million, or 12 cents per share, for the last quarter of 2015.

2. ServiceMaster’s Net Income Slightly Lower in 2016 -

Memphis-based ServiceMaster Global Holdings reported net income for 2016 of $155 million compared to $160 million for 2015.

The earnings statement released Thursday, Feb. 23, showed fourth-quarter net income of $31 million, or 23 cents per share, versus $17 million, or 12 cents per share, for the last quarter of 2015.

3. Brewery District Developer Pulls $1.1M Building Permit -

495 Tennessee St., Memphis, TN 38103: Montgomery Martin Contractors LLC has filed a $1.1 million building permit application with the city-county Office of Construction Code Enforcement for tenant buildout in the former Tennessee Brewery, located at 495 Tennessee St.

4. Last Word: This is Memphis, Sedgwick Deal Expands and Violent Crime Drops -

There used to be a time when a 10-second shot of the Memphis streetscape in a commercial was enough to start an avalanche of speculation about the economic impact of the placement. And when people didn’t mob the city the next day, we were always hopeful that the next little peek of our brand would surely be the one that brought that about.

5. Turner’s Midtown Expansion Continues With $4.9M Permit -

Turner Holdings LLC’s multimillion-dollar plans to upgrade its Midtown location took another step toward completion as the company filed for a $4.94 million building permit application with the city-county Office of Construction Code Enforcement.

6. Haslam Names Rolfe as Commissioner of Economic Development -

NASHVILLE, Tenn. (AP) – Republican Gov. Bill Haslam has named Nashville businessman Bob Rolfe as the new commissioner of the Tennessee Department of Economic and Community Development.

7. Sears May Sell Land, Cut Jobs to Save $1B -

NEW YORK (AP) – Sears may sell more locations, cut more jobs and put more of its famous brands on the block as part of its latest plan to revive the faltering retail chain.

The company, which also owns Kmart, said Friday that it is cutting costs by at least $1 billion a year. It also said that it was adding $140 million in liquidity by reworking its debt, giving the company more breathing room.

8. Permit Filed for Boutique Arrive Hotel Downtown -

477 S. Main St.
Memphis, TN 38103 

Permit Amount: $5.3 million

Application Date: February 2017

Completion: 2018

9. Retail Group: Sales to Grow 3.7 Percent to 4.2 Percent -

NEW YORK (AP) – Despite a bumpy holiday season, chains like The Limited shutting down and department stores such as Macy's closing stores, the largest retail trade group says it's still optimistic that sales will grow this year – especially online.

10. Last Word: Council Day, Strickland on Immigration and Super Bowl Ad Review -

Just when the Shelby County Commission seems to settle into a rhythm of short, concise meetings, along comes a relatively smallish grant for a free condom distribution program locally. And the commission chambers are packed.

11. Developers Request to Amend Downtown Hotel Project -

Memphis City Council members will consider an amendment Tuesday, Feb. 7, to plans for a 150-room hotel on the northwest corner of Madison Avenue and B.B. King Boulevard.

The change by Wessman Holdings LLC for the Leader Federal Bank building and the two-story building next to it on the corner would add a new nine-story building past the corner on the B.B. King side.

12. Downtown Hotel Moves Closer To Reality with Building Permit -

A new boutique hotel slated to open on South Main is taking a big step forward.

Montgomery Martin Contractors filed a $5.3 million permit for renovations to the former Memphis College of Art graduate school at 477 S. Main St.

13. Holiday Spending Rises But Department Stores Lag -

Holiday spending got a boost in 2016, according to one analysis, as more people opted to shop by phone or computer – though department stores and clothing retailers still lagged.

Overall consumer spending grew 4.7 percent over last holiday season, while online retail purchasing grew 12 percent over the same period last year, according to First Data, which analyzed online and in-store payments for nearly a million merchants between Oct. 29 and Jan. 2.

14. Graceland to Renovate Racquetball Court -

Graceland plans to restore what is now the “trophy room” at Elvis Presley’s estate to a racquetball court on the way to the March 2 opening of a $45 million entertainment complex that will include the world’s largest Elvis museum.

15. Flintco Files $2.5M Permit For ServiceMaster HQ -

ServiceMaster’s much-anticipated new headquarters has taken another step forward.

Contractor Flintco Inc. has filed a $2.5 million building permit application with the city-county Office of Construction Code Enforcement for infill office space, a meeting room and public space in the former Peabody Place mall.

16. Council Could Delay Turner Dairy Vote Again -

Memphis City Council members are likely to delay a vote Tuesday, Jan. 17, on a parking lot for Turner Dairy Holdings LLC in Overton Square that is part of the dairy’s expansion.

17. Trump Leaving His Global Business – To Be Run By His Sons -

NEW YORK (AP) – Breaking with presidential precedent, Donald Trump said Wednesday he will continue to profit from his global business empire after he enters the White House this month.

18. LA Fitness Eyes Collierville, Urban Village Moves Ahead -

1048 W. Poplar Ave.
Collierville, TN 38017

Sale Amount: $3.7 million

Sale Date: Jan. 5, 2017

Buyer: Fitness International LLC

19. Flintco Files $2.5M Permit For ServiceMaster HQ -

ServiceMaster’s much-anticipated new headquarters has taken another step forward.

Contractor Flintco Inc. has filed a $2.5 million building permit application with the city-county Office of Construction Code Enforcement for infill office space, a meeting room and public space in the former Peabody Place mall.

20. Opponents of Dairy Expansion To Host Community Meeting -

A group of Midtown citizens who are opposed to the expansion of Turner Dairy’s Madison Avenue location will hold a public meeting Tuesday, Jan. 10, at 5:30 p.m. in the Hattiloo Theatre lobby, 37 S. Cooper St.

21. Online Shoppers Help Holiday Spending; Department Stores Lag -

WASHINGTON (AP) – Holiday spending got a boost in 2016, according to one analysis, as more people opted to shop by phone or computer – though department stores and clothing retailers still lagged.

22. Graceland to Renovate Racquetball Court -

Graceland plans to restore what is now the “trophy room” at Elvis Presley’s estate to a racquetball court on the way to the March 2 opening of a $45 million entertainment complex that will include the world’s largest Elvis museum.

23. Sears to Sell Craftsman Tool Brand to Stanley Black & Decker -

NEW YORK (AP) – After controlling the Craftsman name for 90 years, troubled department store operator Sears said it will sell the famous tool brand to Stanley Black & Decker Inc.

24. Somber Department Store Holiday Season Casts Pall Over 2017 -

NEW YORK (AP) – A cheerless holiday season has rolled over into the new year at the nation's largest department stores, which are cutting jobs, profit expectations and closing scores of locations.

25. Convention Center Hotel Plan Hinges on Financing -

For years the Memphis convention and tourism industry has known which comes first in the chicken-and-egg argument about drawing more convention business. More hotel rooms with meeting space take top priority in an environment where there is just enough political will for a $60 million renovation of the Memphis Cook Convention Center but not enough to build and finance a new convention center.

26. Large Deals, Office Construction Among Memphis' Commercial Real Estate Trends -

Coming off of a strong year in 2015, the commercial real estate market in the Memphis metropolitan area continued to do well in 2016.

Larry Jensen, president and CEO of Cushman & Wakefield/Commercial Advisors, said his company was tracking approximately 6 million square feet of net absorption in the industrial market headed into the last week of 2016, as compared to 8.4 million in 2015.

27. Hickory Hill Apartments Sell for $28 Million -

A California-based real estate investment and advisory firm has purchased the 630-unit Trails at Mt. Moriah apartment complex for $28 million, or $44,444 per unit.

MDO Trails LLC, an affiliate of Newport Beach, California-based CORE Realty Holdings Management Inc., purchased the Class B multifamily property from NNN Mt. Moriah Apartments LLC and 39 related entities in a Dec. 13 warranty deed.

28. Avoid Pitfalls as Retirement Distribution Deadline Nears -

The IRS defers taxes on many retirement accounts. But at a certain point, the agency wants to start collecting its due.

The way it does so can feel like an abrupt change, especially if you've spent decades considering those accounts off limits. You must start taking required minimum distributions, or RMDs, at age 70 1/2.

29. Hickory Hill Apartments Sell for $28 Million -

A California-based real estate investment and advisory firm has purchased the 630-unit Trails at Mt. Moriah apartment complex for $28 million, or $44,444 per unit.

MDO Trails LLC, an affiliate of Newport Beach, California-based CORE Realty Holdings Management Inc., purchased the Class B multifamily property from NNN Mt. Moriah Apartments LLC and 39 related entities in a Dec. 13 warranty deed.

30. Ethics Experts: Trump Invites Trouble If He Keeps Businesses -

NEW YORK (AP) – Donald Trump says he will step away from managing his business empire while he's in office – but he's not going to sell it off. If he follows through, he will shatter a presidential precedent on conflicts, and ethics experts say he will open the door to investigations and lawsuits that could hobble his administration.

31. Last Word: Turner Dairy Plans, Fred's HQ and Fred Smith's Remarks About Trump -

Lots of traffic at FedExForum this weekend with two graduation ceremonies for the University of Memphis – morning and afternoon shifts. Another double-header at the Forum Saturday. The Grizz beat the Warriors 110-89 and the Tigers beat UAB 62-55.

32. Trump Picks Fast Food Executive Andrew Puzder for Labor -

WASHINGTON (AP) — President-elect Donald Trump plans to add another wealthy business person and elite donor to his Cabinet, saying he would nominate fast-food executive Andrew Puzder as labor secretary.

33. La Quinta Guest Sues Over Legionnaires’ Outbreak -

A California woman staying at the La Quinta Inn & Suites near Memphis International Airport has filed a $3 million civil lawsuit against the owners of the motel at 2979 Millbranch Road over a recent outbreak of Legionnaires’ disease.

34. Growing Pains -

In many ways, Citizens to Preserve Overton Park v. Volpe in 1971 shaped the way Midtown Memphis looks today, so it’s only fitting that the park continues to inspire citizens to fight for what they feel is right.

35. La Quinta Hotel Guest Sues Over Legionnaires’ Outbreak -

A California woman staying at the La Quinta Inn & Suites near Memphis International Airport has filed a $3 million civil lawsuit against the owners of the motel at 2979 Millbranch Road over a recent outbreak of Legionnaires’ disease.

36. Two Hotel Projects Top Council Agenda -

Two Downtown hotels top a planning and development-heavy agenda for the Tuesday, Dec. 2, session of the Memphis City Council.

The council votes on a special use permit for a 68-room luxury hotel at 477 S. Main St., in a building that until recently had been a graduate school for the Memphis College of Art.

37. ServiceMaster Unit Buys Home Warranty Company -

The American Home Shield division of Memphis-based ServiceMaster announced Thursday, Dec. 1, a deal to buy Landmark Home Warranty of Salt Lake City, the second acquisition by the home warranty company this year.

38. American Home Shield Buys Salt Lake City Company -

The American Home Shield division of Memphis-based ServiceMaster announced Thursday, Dec. 1, a deal to buy Landmark Home Warranty of Salt Lake City, the second acquisition by the home warranty company this year.

39. American Home Shield Buys Salt Lake City Company -

The American Home Shield division of Memphis-based ServiceMaster announced Thursday, Dec. 1, a deal to buy Landmark Home Warranty of Salt Lake City, the second acquisition by the home warranty company this year.

40. Trump Says He's Leaving Businesses to Avoid Conflicts -

NEW YORK (AP) – President-elect Donald Trump declared Wednesday he will leave his business empire behind to focus on his presidency. But the prospect that he could simply shift more control to three of his adult children looked too cozy to some business-ethics specialists who suggest the arrangement could bring unprecedented conflicts of interest into the Oval Office.

41. Graceland Announces March 2 Opening of 'Elvis Presley's Memphis' Complex -

Graceland will open its $45 million 200,000 square foot Whitehaven entertainment complex March 2-5, the second opening in five months of an expansion of Graceland’s presence in Memphis.

The opening date for the complex of restaurants, museums, shops and performance venues was announced Monday, Nov. 21, by Elvis Presley Enterprises about a month after the opening of the $92-million 450-room Guest House at Graceland hotel and resort.

42. United Aims at Budget Travelers With 'Basic Economy' Fares -

NEW YORK (AP) – United Airlines is making a pitch to passengers at both ends of the plane – budget fliers and luxury passengers – as it attempts to boost profits.

The airline announced Tuesday that it will sell lower "Basic Economy" fares that don't let buyers pick seats ahead of time and limit them to a single carry-on bag that fits under the seat. They'll be the last to board.

43. Unfinished Nuclear Plant Sold, Buyer Vows to Get It Running -

BIRMINGHAM, Ala. (AP) – A development company that purchased an unfinished nuclear power plant from the Tennessee Valley Authority for $111 million on Monday said it plans to spend as much as $13 billion to make the nuclear generator operational.

44. Downtown May Get New 12-Story Boutique Hotel -

A plan to redevelop the former Tenoke Building into a hotel may be revived several years after a similar idea for the vacant Downtown office high-rise fell through.

Vibrant Hotels Inc., an affiliate of Batesville, Mississippi-based development company JVD Enterprises, is seeking a special use permit that would allow the conversion of the century-old Tenoke, located at 161 Jefferson Ave., and the adjacent one-story office at 191 Jefferson Ave. into an “upper-brand franchised full-service hotel,” according to an application filed with the city-county Office of Planning and Development in August.

45. Dismal Year for Hertz Grows More Dismal Still -

NEW YORK (AP) – Hertz shares plunged more than 30 percent in Tuesday trading and its rival, Avis, fell sharply after the company slashed its expectations for all of 2016 in what had already been a dismal year in the car rental business.

46. Commercial Real Estate Market On Strong Run -

When it comes to commercial real estate, Memphis is on a tear at the moment.

That’s according to Andy Cates, president and CEO of brokerage services for Colliers International in Memphis. Looking back on 2016, he’s ebullient about the abundant new construction that has characterized the year, as well as the large amount of capacity still in place and the promise of what’s to come in 2017.

47. Q3 Revenue, Net Income Rise at ServiceMaster -

Memphis-based ServiceMaster Global Holdings reported Tuesday a 7 percent increase in revenue in its fiscal third quarter compared to a year ago. Net income was $70 million, or $0.51 per share, compared to $49 million, or $0.36 per share, a year ago.

48. Real Estate Awakening -

The year’s biggest office deal didn’t affect Memphis’ office absorption at all, but everyone in real estate has felt its reverberations.

When ServiceMaster Global Holdings announced its move to the shuttered Peabody Place Mall from Ridge Lake office park, it promised new life for a 328,000-square-foot black hole in Downtown’s retail market.

49. $92M Graceland Hotel Expected to Be a Catalyst for Whitehaven -

The Heartbreak Hotel on Elvis Presley Boulevard was full Wednesday, Oct. 26 – its final night as a hotel.

By the time the $92 million, 450-room Guest House at Graceland resort opened across the boulevard Thursday morning, many of the doors at the Heartbreak Hotel were missing their room numbers – taken as souvenirs by guests who filled the circa-1980s hotel in its final days.

50. Spate of Big Deals Among CRE Trends In 2016 -

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.

Fast forward, say, five years from now, he explains, and these are the things likely still being talked about:

51. Outlook Weighs on Hilton -

MCLEAN, Va. (AP) – Hilton cut its expectations for a key revenue figure, overshadowing an otherwise solid third-quarter performance.

Hilton had previously expected its revenue per-available room to rise between 3 percent and 4 percent for 2016. On Wednesday, it trimmed those expectations to just a 1.5 percent to 2 percent increase compared with last year, and flat to 1 percent for the current and final quarter of 2016.

52. Q3 Revenue, Net Income Rise at ServiceMaster -

Memphis-based ServiceMaster Global Holdings reported Tuesday a 7 percent increase in revenue in its fiscal third quarter compared to a year ago. Net income was $70 million, or $0.51 per share, compared to $49 million, or $0.36 per share, a year ago.

53. Q3 Revenue, Net Income Rise at ServiceMaster -

Memphis-based ServiceMaster Global Holdings reported Tuesday a 7 percent increase in revenue in its fiscal third quarter compared to a year ago. Net income was $70 million, or $0.51 per share, compared to $49 million, or $0.36 per share, a year ago.

54. Another Bid From China for US Hotel; $6.5B for Hilton Stake -

NEW YORK (AP) – HNA Group is snapping up a 25 percent ownership stake of the Hilton hotel chain for about $6.5 billion, the latest attempt by a Chinese interest to acquire real estate in the U.S.

55. Citigroup's Profit Falls 11 Percent, But Beats Forecasts -

NEW YORK (AP) – Citigroup said Friday that its profit fell nearly 11 percent in its third quarter, but the results easily beat Wall Street expectations and its shares rose.

The New York bank reported net income of $3.8 billion, or $1.24 per share, in the three months ending Sept. 30, compared with $4.3 billion, or $1.35 per share, in the same quarter the year before.

56. Raleigh Apartments Sell for $1.8 Million -

A Raleigh apartment complex has sold for $1.8 million.

Mundell Land and Livestock Co. Inc. of Wilton, California, purchased the 112-unit property on 8.4 acres at 4141 James Road from Pine James Road Holdings LLC, an affiliate of California-based Sabal Financial Group LP.

57. Hotel Developer Closes On MCA Grad School -

A California-based investor has closed on his purchase of the former Memphis College of Art graduate school at 477 S. Main St.

As The Daily News previously reported, Wessman Holdings LLC plans to turn the former Nesin Graduate School into an Arrive hotel.

58. Southeast Memphis Portfolio Sells for $23.6 Million -

Multiple Properties

Memphis, TN 38118

Sale Amount: $23.6 million

Sale Date: Sept. 27, 2016

59. Hotel Developer Closes On MCA Grad School -

A California-based investor has closed on his purchase of the former Memphis College of Art graduate school at 477 S. Main St.

60. Raleigh Apartments Sell for $1.8M -

A Raleigh apartment complex has sold for $1.8 million.

Mundell Land and Livestock Co. Inc. of Wilton, California, purchased the 112-unit property at 4141 James Road from Pine James Road Holdings LLC, an affiliate of California-based Sabal Financial Group LP, in a Sept. 28 warranty deed.

61. Two More Boutique Hotels to Arrive Soon -

An out-of-town developer with one hotel planned for the Downtown market has purchased the former Memphis College of Art graduate school at 477 South Main for another hotel.

California-based Wessman Holdings was attracted to Downtown’s growth of boutique hotels and abundance of vacant buildings, said principal John Wessman.

62. Belz Preparing Peabody Place for ServiceMaster HQ -

150 Peabody Place

Memphis, TN 38103

Permit Amount: $9.5 million

Project Cost: $27 million overall

63. Belz Pulls $9M Permit to Prepare Peabody Place for ServiceMaster -

Belz Enterprises has taken a major step in the renovation of the shuttered Peabody Place mall into ServiceMaster Global Holdings’ future headquarters.

Contractor Belz Construction Services LLC is seeking a $9.5 million building permit from the city-county Office of Construction Code Enforcement for “core & shell improvement” to the 360,000-square-foot former mall, which has stood empty since it closed to the public in 2012.

64. Open and Shut -

The office of the future hacks down cubicle walls in favor of modular furniture that encourages collaboration. As many business sectors, from banking to legal services, move to a tech-first approach, companies are turning away from traditional office configurations to attract the next generation of talent.

65. Trio of Industrial Properties Sells for $9.6 Million -

Three industrial properties in southeast Shelby County have sold for $9.6 million.

In a Sept. 8 warranty deed, Colfin Cobalt I-II Owner LLC sold its holdings at the Malone Distribution Park to O’Donnell Memphis E-Commerce Distribution Center LLC.

66. Three Industrial Properties Sell for $9.6 Million -

Malone Distribution Park 

Memphis, TN 38118

Sale Amount: $9.6 million

Sale Date: Sept. 8

67. Trio of Industrial Properties Sells for $9.6 Million -

Three industrial properties in southeast Shelby County have sold for $9.6 million.

In a Sept. 8 warranty deed, Colfin Cobalt I-II Owner LLC sold its holdings at the Malone Distribution Park to O’Donnell Memphis E-Commerce Distribution Center LLC.

68. 2 Millington Retail Centers Sell for $4.8 Million -

A California investor has purchased two Millington retail strip centers for a combined $4.8 million.

Mitchell Kitay, who lists an address in West Hollywood, Calif., purchased the 26,720-square-foot retail center at 8510 Wilkinsville Road from Millington Realty Holdings LLC, an entity of Israel-based Faropoint Ventures, according to a Sept. 2 warranty deed.

69. Enoble Business Capital Offices Sell in Foreclosure -

813 Ridge Lake Blvd.

Memphis, TN 38120

Sale Amount: $9.6 million

Sale Date: Aug. 31, 2016

Buyer: Merchants Capital Real Estate LLC

70. PayPal Expands Its Partnership With Mastercard -

NEW YORK (AP) – PayPal and Mastercard signed a deal Tuesday that aims to make it easier for PayPal users to pay with a Mastercard.

The announcement comes after PayPal Holdings Inc. signed a similar deal with credit card issuer Visa Inc. in July.

71. Nonconnah Center Sale Could Boost Market -

In what is sure to be one of the top commercial real estate transactions of the year, the majority of the 1.2 million-square-foot Nonconnah Corporate Center has sold. ReMark Trust, an out-of-town investment group, purchased the property for $57 million.

72. Much of Nonconnah Park Sells for $57 Million -

The majority of the Nonconnah Corporate Center has sold for $57 million.

New York-based Hampshire Properties, acting as Nonconnah Holdings LLC, sold the entirety of its portfolio at the Memphis International Airport-area office park.

73. Last Word: Redbirds Box Office, Graceland's Ambition and Alley Parties -

Last home game of the season for the Memphis Redbirds Sunday. The Redbirds lost to the Nashville Sounds 14-4.

By early Sunday evening, the Redbirds front office announced attendance at AutoZone Park was up this season by 17 percent compared to the season before.

74. Bursting the Bubble -

Graceland is in Memphis. But the two have tended to coexist, rather than being part of each other, since Elvis Presley’s home opened as a commercial enterprise in 1982.

That is starting to change as a $137 million expansion of Graceland – a $92 million hotel resort opening in October and a $45 million, 200,000-square-foot entertainment complex west of the mansion to open in the spring of 2017 – begins to overlap with a renewed emphasis on Whitehaven as the home of many of the city’s middle class.

75. Last Word: $60 Million, Frozen Graceland and Wreck It Ralph's Return -

The federal government’s problem with a law the Tennessee Legislature passed earlier this year is serious -- $60-million serious.

And Tennessee Gov. Bill Haslam, in Hickory Hill Thursday, said he’s working on a compromise that would have the Legislature undo what it did this year when the new legislative session begins in January.

76. Graceland Holdings to Manage Prince’s Home, Paisley Park -

MINNEAPOLIS (AP) – Paisley Park, the private estate and studio complex of the late rock superstar Prince, will open for daily public tours starting Oct. 6, the trust company overseeing his estate announced Wednesday, and the company that runs Elvis Presley's Graceland will manage it.

77. Sears Moves to Quarterly Loss, Sales Keep Faltering -

HOFFMAN ESTATES, Ill. (AP) – Sears posted a second-quarter loss, with perpetually weak sales overshadowing the retailer's efforts to cut costs and slow its cash burn. CEO Edward Lampert's hedge fund will forward the ailing chain $300 million in additional debt financing.

78. ServiceMaster Holds 3rd Annual 'We Serve Day' -

Memphis-based ServiceMaster Global Holdings, Inc. held its third annual We Serve Day on Friday, Aug. 19, as more than 1,000 employees fanned out to participate in more than 65 volunteer efforts across the country.

79. Downtown Office Market Picking Up, Industrial Market Could Get Hotter -

Memphis’ office and industrial markets saw strong second quarters, with increased absorption and positive outlooks for the rest of the year.

The quarter was dominated by ServiceMaster Global Holdings’ announcement that it was moving its headquarters from East Memphis to the shuttered Peabody Place mall. The home services and tech company will transform the former mall into a $27 million, Class A office building.

80. Last Word: Graceland's Important Day, MAA's $4 Billion Buy and Hotel Napoleon -

Before the rain did its thing Monday night at Graceland, the latest Black Lives Matter movement protest was a fact at Graceland’s annual candlelight vigil.

Some tension and lots of noise on the line at Elvis Presley and Craft where police stopped those whom they identified as protesters. And more than a few allegations of racial profiling by police.

81. Hotel Napoleon Joins Growing List of Unique Downtown Lodging -

A Downtown property’s ample windows, turn-of-the century architecture and an interesting backstory attracted hotel developer Suna Investments to the historic Winchester Building at 179 Madison Ave.

82. Weinshanker: Graceland, Whitehaven Inextricable -

The single largest private business investment in Whitehaven, including a $45 million, 200,000-square-foot entertainment complex across from Graceland mansion, is an effort to establish Memphis as “the home of rock ’n’ roll” and to do it specifically where Elvis Presley made his home.

83. Shelby County Foreclosures Remain at Historic Lows -

Over the last several years foreclosure activity in Memphis and Shelby County has reached historic lows. Year to date, foreclosures are down 23 percent from the same period of 2015.

The number of homes in foreclosure inventory, properties that have been foreclosed but not yet resold by the bank, has fallen drastically. At the end of 2008, there were 3,925 homes in foreclosure inventory; at the end of July, there were 2,070, a decrease of 47 percent.

84. Varsity Brands Warehouse Sells for $9.5 Million -

3131 Appling Road
Bartlett, TN 38133

Sale Amount: $9.5 million

Sale Date: Aug. 4, 2016

Buyer: Appling Road Memphis LLC

85. Amazon Unveils Cargo Plane As It Expands Delivery Network -

SEATTLE (AP) – Seattle-based Amazon is unveiling its first branded cargo plane, one of 40 jetliners that will make up the e-commerce giant's own air transportation network as it takes more control of its delivery process.

86. Airport-Area Hotel Sells for $3.5 Million -

A three-story hotel near Memphis International Airport has changed hands for $3.5 million.

VJBP Hotels has sold the Country Hearth Inn & Suites hotel at 3005 Millbranch Road to Millbranch Holdings LLC in an Aug. 1 warranty deed.

87. Airport-Area Hotel Sells for $3.5 Million -

A three-story hotel near Memphis International Airport has changed hands for $3.5 million.

VJBP Hotels has sold the Country Hearth Inn & Suites hotel at 3005 Millbranch Road to Millbranch Holdings LLC in an Aug. 1 warranty deed.

88. Terminix Offers $87M Settlement to Injured Delaware Family -

MEMPHIS, Tenn. (AP) – The parent company of pest-control giant Terminix has reached a tentative agreement to pay $87 million to a Delaware family injured by exposure to a banned pesticide during a Caribbean vacation.

89. TAG Expects Truck Facility to be Operational by Mid-2017 -

TAG Truck Center is moving forward with a $28 million trucking facility at the former site of the Mall of Memphis. Contractor Linkous Construction Co. recently filed two building permits for TAG’s new headquarters.

90. Bank Building Set To Become Boutique Hotel -

158 Madison Ave.
Memphis, TN 38103

Sale Amount: $1.1 million

Sale Date: June 13, 2016

Buyer: Wessman Holdings

91. Last Word: The Greensward Deal, Pulpit to Protest Call and Leader Federal's HQ -

There is nothing quite like a deadline to produce results.

I’m not talking about this job, although it is more than a coincidence that the closer a deadline gets the more you start to figure out how to write something.

92. Boutique Hotel Planned For Downtown Bank Building -

The former Leader Federal headquarters will be converted into a boutique hotel.

Wessman Holdings, an out-of-town group, purchased the property at 158 Madison Ave. from 158 Madison LLC for $1.1 million, according to a June 13 warranty deed. The five-floor building was built in 1961 and bears more than 62,000 square feet.

93. Mahoro Lives the American Dream — and Pays It Forward -

Memphis stands at the threshold of incredible possibility. In this column, we introduce innovative Memphians who are driving our city forward and forging its future success.

Despite what you may have heard, the American Dream isn’t dead — he’s very much alive, and his name is Jean Francois Mahoro. Mahoro began life as a Rwandan refugee; today, he is a successful software engineer at a Fortune 1000 company. Now, through his volunteer work at Code Crew, he’s helping under-resourced Memphians follow in his footsteps.

94. Design Board Approves Peabody Place Mall Changes -

More windows for the exterior of the Peabody Place Mall and some new paint were approved Wednesday, July 6, by the Design Review Board of the Downtown Memphis Commission.

The changes are part of the move by ServiceMaster Global Holdings into the mall to make it the company’s new headquarters.

95. Design Review Board OKs Peabody Place Mall Changes -

More windows for the exterior of the Peabody Place Mall and some new paint were approved Wednesday, July 6, by the Design Review Board of the Downtown Memphis Commission.

The changes are part of the move by ServiceMaster Global Holdings into the mall to make it the company’s new headquarters.

96. Hostess, Four Years After Bankruptcy, Will Go Public Again -

NEW YORK (AP) – Almost four years after seeking bankruptcy protection under a barrage of labor issues and rapidly changing appetites, the maker of Twinkies and Ding Dongs will take the stage once again as a publicly traded company.

97. Downtown Memphis Commission Creates Temporary Grant Program for Creatives -

The Downtown Memphis Commission is accepting applications for grants that will activate the street with creative meet-ups and art installations.

Up to $5,000 is available per grant for projects that bring about creative place-making and social and professional engagement.

98. ServiceMaster to Change Mall’s Exterior -

Memphis-based ServiceMaster Global Holdings Inc. and its landlord, Belz Enterprises, plan to remove the pedestrian skybridge into the Peabody Place development that crosses over Second Street and will add more than 50 new windows to the second and third levels on the Second Street side of the mall.

99. ServiceMaster Plans Different Second Street Look -

Memphis-based ServiceMaster Global Holdings Inc. and its landlord, Belz Enterprises, plan to remove the pedestrian skybridge into the Peabody Place development that crosses over Second Street. And the plans call for adding more than 50 new windows to the second and third level surfaces on the Second Street side of the mall.

100. Redbirds Home-Game Attendance Ahead of Last Season -

As this baseball season was dawning, new Memphis Redbirds majority owner Peter B. Freund was at AutoZone Park and being made to field questions about the team’s sliding attendance.

As recently as 2013, the Redbirds had drawn nearly 500,000 fans – averaging 7,223 tickets sold – to finish fifth in the 16-team Pacific Coast League attendance standings.