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Editorial Results (free)

1. Scan Interiors Going Out of Business, Ending Three Decades of Operation -

Scan Interiors, a source in Memphis for modern, contemporary and international furniture for three decades, will close Sept. 25. The business at 1826 Sycamore View mailed “thank you’’ cards this week to customers who have purchased its home and office furniture over the years.

2. Wolfchase At 20 -

For the shopping mall – that quintessential staple of American retail, the biggest of big boxes, a sprawling, multilevel marvel of commercial magnificence – these are most certainly interesting times.

3. Sector-by-Sector Highlights of the Commercial Property Forecast Summit -

Many of the area’s best and brightest commercial real estate minds were on hand for the Memphis Area Association of Realtor’s Annual Commercial Property Forecast Summit at the Halloran Centre for Performance Thursday afternoon. 

4. Dave & Buster’s to Open Cordova Location -

7930 Germantown Parkway
Memphis, TN 38133 

Landlord: Brixmor Property Group 

Tenant: Dave & Buster’s 

5. Dave & Buster’s Plans Memphis Debut -

The popular restaurant/sports bar/adult arcade Dave & Buster’s will join the likes of Ikea, Nordstrom Rack and Trader Joe’s on the list of popular franchises opening up their first locations in the Bluff City.

6. Dave & Buster's To Open In Cordova -

The popular restaurant/sports bar/adult arcade Dave & Buster’s will join the likes of Ikea, Nordstrom Rack and Trader Joe’s on the list of popular franchises opening up first-time locations in the Bluff City.

7. Evolving PILOT Programs in Memphis Look to Restore Competitive Balance -

When the Memphis-Shelby County Economic Development Growth Engine approved its Fast Track payment-in-lieu-of-taxes (PILOT) program earlier this year, it was with the hopes of bringing back a competitive balance between Memphis and North Mississippi.

8. Last Word: An Early Voting Challenge, Raleigh Settlement and Rocky Top Tumult -

Early voting in Shelby County ended with some lines Thursday at several of the 21 sites. We should have the final turnout numbers Friday morning and you can get the totals first @tdnpols, www.twitter.com/tdnpols.

9. Memphis Drawing More Out-of-Town Retailers -

Second- and third-tier retail markets are seeing a resurgence nationally, and Memphis’ own economic recovery is garnering attention from out-of-town retailers.

Among the higher-end retailers preparing for their first local store are Ikea, which is set to open in the next few months, and Trader Joe’s and Nordstrom Rack, both of which are in their early stages and are expected to open by the end of 2017.

10. 10 Years After Housing Peaked, US is More of a Renter Nation -

MOUNT PLEASANT, South Carolina (AP) – It's a troublesome story playing out across America in the 10 years since the housing bubble peaked and then burst in a ruinous crash: As real estate has climbed back, homeowners are thriving while renters are struggling.

11. Ikea: 'Everything's on Track' for New Memphis Store -

A construction crew of nearly 500 is at work turning what is now a steel frame into Tennessee’s first Ikea store. This week, the crew began installing Ikea’s trademark cobalt-blue walls on the western edge of what will be a self-serve warehouse.

12. Moving Dirt -

The Memphis development community is looking inward and upward to increase density in the urban core. New construction is happening across all four commercial real estate sectors, with long-anticipated projects like Trader Joe’s and the redevelopment of Central Station finally coming to fruition. Construction and operating costs continue to be a challenge as new projects hit the top of their class to command higher rents.

13. Last Word: Redbirds Sold, Memphis Burning and When Old Dominick Was Young -

Grizzlies over the Cavaliers 106-103 Monday evening in Cleveland despite the pre-game injury story dominating up to tip-off.

14. Ikea Design Tells Unique Sales Story -

When Ikea opens its 271,000-square-foot store in Memphis later this year, it will bring a retail experience unlike any ever seen in the region.

The typical American retail setup is a big-box outlet with aisle after aisle of organized items displayed on neat shelves, usually with a row of check-out counters near the front.

15. Wade: Shelby County’s New-Home Inventory Not Meeting Demand -

Jules Wade, principal broker with Coldwell Banker Collins-Maury, is happy with residential real estate prices in 2015.

Last year the average sales price of a Shelby County home rose 6 percent over 2014, and the average residential sales price matched the previous high of 2006.

16. Ikea Brings Sustainability Practices to Memphis -

Sustainability at large businesses sometimes might seem to only focus on buzzwords such as solar panels, carbon footprints and LEED certification.

Those practices are good steps in today’s sustainable world. Sometimes, though, the little things go a long way.

17. Ikea Memphis to Break Ground Next Week -

Ikea will break ground on its new Memphis-area store next week.

The Thursday, Dec. 10, event will take place at 11 a.m. at the site of the future Ikea store in Cordova off Germantown Parkway.

18. Ikea Hires Memphis Contractor, Reaffirms Opening Date -

Ikea has made it official, again, and has hired a Memphis contractor to handle the heavy lifting.

Linkous Construction Co. will serve as construction manager for Ikea’s Memphis project, which is set for a groundbreaking next month and a fall 2016 opening.

19. Ikea Hires Memphis Contractor, Reaffirms Opening Date -

Ikea has made it official, again, and has hired a Memphis contractor to handle the heavy lifting.

Linkous Construction Co. will serve as construction manager for Ikea’s Memphis project, which is set for a groundbreaking next month and a fall 2016 opening.

20. Ikea PILOT Extension Approved -

Nearly 10 months after the Memphis-Shelby County Development Growth Engine approved tax breaks for Ikea, it returned to the board with a new plan.

The Swedish retail giant requested EDGE extend its property tax abatement by 11 months to make up for a dispute over the property tax appraisal on the Cordova land.

21. LEDIC’s High-Tech HQ To Be LEED Certified -

LEDIC’s new East Memphis headquarters will aim for a LEED-certified silver status and bring high-speed fiber optic Internet to the area, according to documents recently submitted to the Memphis-Shelby County Economic Development Growth Engine.

22. Ikea PILOT Compromise Surfaces -

Ikea executives are proposing a compromise to the standoff over the tax appraisal value of the Cordova land where they plan to build a 270,000-square-foot store.

The proposal would extend the term of its property tax abatement.

23. Ikea Construction On Hold in Property Tax Dispute -

Shelby County Assessor of Property Cheyenne Johnson will appeal a Thursday, Sept. 17, decision by the Shelby County Board of Equalization that lowers the appraised value of the land in Cordova where Ikea plans to build a $64 million, 269,000-square-foot Memphis store.

24. Tax Incentive Changes Causing Headaches for Memphis Mayoral Candidates -

The four major candidates for Memphis mayor all have some version of the same basic answer to questions about tax incentives for economic development.

The answer: Tax incentives, and particularly payment-in-lieu-of-taxes incentives, are not the best way to grow the city’s economy and perhaps should be examined and changed. All four agree that they can’t be done away with entirely, even though the candidates’ opinions on potential changes differ.

25. Memphis Multifamily Action Gets Second-Quarter Boost -

Multifamily fundamentals were strong for the second quarter of 2015 as Downtown and Collierville continued to perform well in their new-construction booms.

New construction is ahead compared to second quarter 2014, with 567 units coming online in the Memphis metro area compared to 466 units last year, according to CBRE Memphis’ Multifamily MarketView. By year-end, construction will total 1,280 units.

26. Ikea Construction On Hold In Property Tax Dispute -

Shelby County Assessor of Property Cheyenne Johnson will appeal a Thursday, Sept. 17, decision by the Shelby County Board of Equalization that lowers the appraised value of the land in Cordova where Ikea plans to build a $64 million, 269,000-square-foot Memphis store.

27. Developers Threaten to Pull Out of Mall of Memphis Site -

Developers of the former Mall of Memphis site were again delayed as the board of the Economic Development Growth Engine tabled a vote on a payment-in-lieu-of-taxes benefit for the speculative industrial site.

28. Ikea Buys Cordova Acreage For Planned Memphis Store -

41 Acres for
Future Ikea Store

Sale Amount: $5.7 million

Sale Date: July 10, 2015

Buyer: IKEA Property Inc.

29. Ikea Acquires Land for New Cordova Store -

Ikea continues to take steps toward construction of its massive Cordova store.

According to documents filed July 10, IKEA Property Inc. purchased about 41 acres of land from Music City Investments LLC for $5.7 million.

30. Ikea Acquires Land for New Cordova Store -

Ikea continues to take steps toward construction of its massive Cordova store.

According to documents filed July 10, IKEA Property Inc. purchased about 41 acres of land from Music City Investments LLC for $5.7 million.

31. Ikea Seeks $16 Million Permit For First Memphis Store -

Future Ikea Store
On 42 Acres In Cordova
Permit Cost: $16 million

Application Date: July 2015
Owner/Tenant: Ikea
Details: Ikea is moving forward with its massive retail store in Cordova.

32. Wave of New Retail Construction Boosts Contractors -

Retail development in the Memphis area is booming in what construction and retail officials describe as the most active period for retail construction since the recession, with everything from a massive outlet mall in Southaven to grocery stores and smaller, traditional retail centers going up.

33. Real Estate Pros Upbeat -

After finally latching on to the broader national economic recovery in 2013, the Memphis-area commercial real estate market shook of the last vestiges of the Great Recession and roared back to life in 2014 with the office, retail, industrial and apartment sectors all producing solid gains.

34. EDGE Leader Faults 'Vague' Concerns About Incentives -

The president of the Economic Development Growth Engine wants Memphis City Council members and Shelby County commissioners to approve proposed changes to payment-in-lieu-of taxes incentives the EDGE board grants.

35. Another Downtown Hotel Could Be On the Way -

A Memphis businessman is proposing a suburban-style hotel in the heart of Downtown Memphis while Swedish furniture retailer Ikea moves forward with plans for its first Memphis-area store.

Gopal Govan is seeking a special use permit from the city-county Land Use Control Board to build the four-story, 104-room LaQuinta Inn & Suites hotel on the site of the former New York Suit Exchange at 310 Union Ave., located at Union and Danny Thomas Boulevard. The Land Use Control Board meets Thursday, Feb. 12.

36. Cheesecake Factory Scouting First Memphis Location -

The Cheesecake Factory, a wildly popular restaurant chain known for its expansive menu and generous portions, is eyeing the Wolfchase Galleria in Cordova for its first Memphis-area location, according to sources with knowledge of the plans.

37. Cheesecake Factory Eyeing Wolfchase -

The Cheesecake Factory, a wildly popular restaurant chain, is eyeing the Wolfchase Galleria in Cordova for its first Memphis-area location, according to sources with knowledge of the plans.

A representative from Simon Property Group, Wolfchase's owner, could not confirm the talks, saying an announcement would only be made once a lease is fully executed.

38. EDGE Approves Ikea Incentives -

Swedish furniture retailer Ikea has been awarded an 11-year tax break to develop a $64 million store near Interstate 40 and Germantown Parkway that is expected to employ 175 people.

The board of the city-county Economic Development Growth Engine on Wednesday, Jan. 21, approved the controversial payment-in-lieu-of-taxes incentive on an 8-1 vote. Larry Jackson voted against the measure.

39. EDGE Approves Incentives for Memphis Ikea Store -

Swedish furniture retailer Ikea has been awarded an 11-year tax break to develop a $64 million store near Interstate 40 and Germantown Parkway that is expected to employ 175 people.

The board of the city-county Economic Development Growth Engine on Wednesday, Jan. 21, approved the controversial payment-in-lieu-of-taxes incentive on an 8-1 vote, with Larry Jackson voting against the measure.

40. Concerns Raised About Ikea Incentives -

Some city of Memphis officials are concerned that offering tax incentives to Swedish furniture retailer Ikea could set a dangerous precedent, one that could open the door for other retailers, including large mall owners, to seek the tax breaks.

41. Retailers Setting Eyes on Memphis -

The Memphis-area retail sector, fueled by several new retailers entering the market and a massive amount of grocery-based activity, experienced a strong 2014.

Grocery store activity came into full bloom this year, with market leader Kroger investing heavily in its stores and higher-end, organic-focused chains targeting the market for growth.

42. Wharton Defends Local Tax Incentives, Searches for New Methods to Compete -

Memphis Mayor A C Wharton Jr. is pursuing a new economic development strategy that would allow those parts of Tennessee bordering other states to mirror or match the incentives on the other side of the state line.

43. Wharton and Schools Settle Six-Year Funding Dispute Without Council -

It appears Memphis Mayor A C Wharton Jr. and the Shelby County Schools board have settled the six-year dispute over city funding for schools without the Memphis City Council.

But the fast-moving compromise will likely require a council vote to fund it.

44. EDGE Mulls Tax Break for Plastics Recycling Co. -

A company that recycles and manufactures post-industrial plastics is considering relocating from Arkansas to Memphis.

RE-CY, or RE-CY Plastics, is considering acquiring a facility on Winchester Road to recycle and manufacture plastics, which are then used for automotive parts, decking and IKEA furniture.