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Editorial Results (free)

1. Report: Pera’s Stake in Ubiquiti Rises to $3.7B -

Memphis Grizzlies majority owner Robert Pera had a good week last week.

His networking company, Ubiquiti Networks Inc., soundly beat analysts’ forecast for earnings and revenue in the fourth quarter, catapulting the stock 20 percent higher in trading on Aug. 3.

2. Report: Pera’s Stake in Ubiquiti Rises to $3.7 Billion -

Memphis Grizzlies majority owner Robert Pera had a good week last week.

His networking company, Ubiquiti Networks Inc., soundly beat analysts’ forecast for earnings and revenue, catapulting the stock 20 percent higher in trading on Thursday, Aug. 3.

3. Report: Pera’s Stake in Ubiquiti Rises to $3.7 Billion -

Memphis Grizzlies majority owner Robert Pera is having a good week.

His networking company, Ubiquiti Networks Inc., soundly beat analysts’ forecast for earnings and revenue, catapulting the stock 20 percent higher in trading on Thursday, Aug. 3.

4. Terminix Priority of ServiceMaster New CEO Nik Varty -

The new CEO of ServiceMaster Global Holdings Inc. said his first priority at the helm of the Memphis-based domestic and commercial services provider is to fix the company’s Terminix division.

5. TruGreen Hires New CFO As It Looks to Drive Growth -

Memphis-based TruGreen has named a new chief financial officer as current CFO David Martin transitions into the new role of vice president of sourcing and accounting.

6. Fully Loaded -

It’s almost like the first half of 2017 was a decade in the making, at least when it comes to commercial real estate. Throughout all four major sectors of the Memphis-area commercial real estate market – industrial, office, retail and multifamily – figures are consistently reaching or exceeding pre-recession marks.

7. Redbirds Revitalization: Fun at the Old Ballpark and the Winning is Easy -

Bottom of the seventh inning and another night at AutoZone Park is unfolding the way so many have this season. The Memphis Redbirds have a nice lead. Their starting pitcher has been putting up zeros and the team has been banging out timely hits and playing crisp defense.

8. Gillette Out, ServiceMaster to Spin Off Unit -

To Memphians, Rob Gillette is the ServiceMaster Global Holdings Inc. leader who moved the company’s headquarters from East Memphis to Downtown and put the old Peabody Place Mall back in use.

9. ServiceMaster to Spin Off Business, Gillette Out as CEO -

Shares of Memphis-based ServiceMaster Global Holdings Inc. were trading 6 percent higher Wednesday morning, July 26, on news that the company has made a change in chief executive offer, effective immediately, and will spin off its American Home Shield (AHS) business from its Terminix and Franchise Services Group (FSG) businesses.

10. TruGreen Hires New CFO As It Looks to Drive Growth -

Memphis-based TruGreen has named a new chief financial officer as current CFO David Martin transitions into the new role of vice president of sourcing and accounting.

11. MRG, Thomas & Betts Receive Tax Incentives -

Makowsky Ringel Greenberg and Thomas & Betts were both awarded tax incentives to advance their respective projects by the Economic Development Growth Engine for Memphis and Shelby County on Wednesday, July 19.

12. T&B Granted 15-Year PILOT to Relocated Corporate HQ -

Memphis-based Thomas & Betts has been awarded a 15-year PILOT (payment-in-lieu-of-taxes) to relocate its corporate headquarters from Southwind to the Ridgeway Center in East Memphis and consolidate its regional research and development functions.

13. Atlanta Retail Investor Makes $29M Purchase -

In this week’s Real Estate Recap, an 18-acre shopping center in the heart of Bartlett sells for $28.8 million, Ulta Beauty prepares to build out its space in Poplar Commons, and Dave & Buster’s continues work on its first Memphis location...

14. Last Word: No Assumptions, Riverfront Concepts and A Tale of Two Teams -

The “Midtown is Memphis” arch in Overton Square is no more. Vanished this week as the former Chiwawa is being converted to Indian Pass Raw Bar – for those of you new to Memphis, these are both restaurants – one former and the other future.

15. Ulta Beauty Files Permit For East Memphis Store -

Ulta Beauty is preparing to build out its space in Poplar Commons, the East Memphis shopping center rising across from Oak Court Mall.

The cosmetics retailer is seeking a $450,000 permit application to work on the interior of its future location at 4572 Poplar Ave., inside the shopping center that will be anchored by Nordstrom Rack. No contractor is listed on the application.

16. Bartlett Shopping Center Sells for Nearly $30M -

An Atlanta-based real estate investment firm has made its first purchase in the Memphis market with the acquisition of a 198,103-square-foot shopping center in the heart of Bartlett.

The Bartlett Towne Centre, located at 6005 Stage Road, was acquired by Branch Properties LLC from Houston-based real estate investment trust Weingarten Realty for $28.8 million.

17. Thomas & Betts to Invest $20.7 Million in Expansion -

Thomas & Betts plans to add 75 employees and invest $20.7 million in its headquarters relocation in Memphis and is seeking a 15-year payment-in-lieu-of-taxes (PILOT) incentive to help defray those costs.

18. Malco Pulls Additional Building Permit for Downtown Theater -

Malco Theatres’ Downtown movie theater continues to take shape, with the Memphis-based cinema chain seeking its second multimillion-dollar building permit for the project in recent months.


45 E. G.E. Patterson Ave.
Memphis, TN 38103
Permit Amount: $5 million

19. Malco Pulls Additional Building Permit for Downtown Theater -

45 E. G.E. Patterson Ave.

Memphis, TN 38103

Permit Amount: $5 million

Project Cost: $55 million

Application Date: July 2017

Owner: Henry Turley Co. and Community Capital

20. Cordova Shopping Center Sells for $2.3 Million -

The Woodchase Center, located at 2075 N. Germantown Parkway, has a new owner.

Dr. Alan Werner purchased the 28,484-square-foot retail building from MAM Realty Holdings of Memphis LLC for $2.3 million. Brian Califf, executive vice president of NAI Saig, represented Werner, while Melanie Myers with the Gary Myers Co. represented MAM Realty Holdings.

21. Struggling Department Store Chain Sears Closing More Stores -

NEW YORK (AP) – Struggling department store chain Sears says it's closing even more stores as it tries to turn around its business.

Sears Holdings Corp. CEO Eddie Lampert said in a blog post Friday that the company would close another eight Sears and 35 Kmart stores that are unprofitable by early October. No Memphis-area Sears stores were included on the list; the closest Kmart that will be closed is in Jackson, Tennessee.

22. East Memphis Office Building Sells for $7 Million -

A 79,000-square-foot office building in East Memphis has switched hands in a multimillion-dollar deal.

Gregory Realty GP purchased the Class B building at 855 Ridge Lake Blvd. for $7 million from Israel-based investors Faropoint Ventures, doing business as Ridge Lake TN Realty Holdings LLC.

23. East Memphis Office Building Sells for $7 Million -

A 79,000-square-foot office building in East Memphis has switched hands in a multimillion-dollar deal.

Gregory Realty GP purchased the Class B building at 855 Ridge Lake Blvd. for $7 million from Israel-based investors Faropoint Ventures, doing business as Ridge Lake TN Realty Holdings LLC.

24. Cooper-Young Getting New Coffee House -

945 Cooper St.
Memphis, TN 38104

Permit Amount: $85,750

Application Date: July 2017

25. Last Word: Corporate Musical Chairs, Another Dollar General and Ronnie Grisanti -

The three-way deal by which Memphis-based Fred’s was to buy hundreds of Rite-Aid stores from Walgreens just keeps getting worse for Fred’s even though the deal happened last week without Fred’s. An analyst says Fred’s got cut out because of questions about the corporation’s viability to enter into what is an ambitious change of course for the company on a large scale.

26. Thomas & Betts Moving Corporate Headquarters -

Thomas & Betts Corp. has chosen a new location for its corporate headquarters. The Memphis-based electrical component manufacturer is moving from Southwind to ServiceMaster Global Holdings' current space at 860 Ridge Lake Blvd. in Ridgeway Center. ServiceMaster is vacating the East Memphis property for its new headquarters Downtown.

27. Downtown Core Attracting More Corporate Tenants -

Hamida Mandani, who with her husband Sunny owns City Market at the corner of Main Street and Union Avenue, is anticipating lots of potential new customers soon for her small grocery and deli enterprise.

28. Whitehaven Unveils New Development Direction -

It’s been 10 months since Rev. Earle Fisher was among the individuals turned away from Graceland’s annual candlelight vigil by Memphis police in a reaction to possible protests at the event.

29. Last Word: Disaster Paperwork, The Whitehaven Plan and Juvenile Justice -

On its way to Washington is the paperwork for a federal disaster declaration sent Wednesday by Tennessee Gov. Bill Haslam. It includes Shelby County and 11 other Tennessee counties. This is essentially federal funding that will reimburse local government for money they spend up front for these kinds of disasters. The state’s request also includes a call for individual assistance to Shelby County homeowners and business owners whose property was damaged in the Memorial Day weekend storms.

30. Whitehaven Leaders Unveil New Economic Development Group -

It’s been 10 months since Rev. Earle Fisher was among those turned away from Graceland’s annual candlelight vigil by Memphis Police in a reaction to possible protests at the vigil commemorating the anniversary of Elvis Presley’s death.

31. Memphis Sixth-Worst US City for Mosquitoes -

A Memphis-based company that has spent years killing pests across the U.S. says its headquarters city is one of the worst for mosquitoes.

Terminix, a company of ServiceMaster Global Holdings Inc., ranks Memphis No. 6 on a list of cities with the worst mosquito problems.

32. Memphis Sixth-Worst US City for Mosquitoes -

A Memphis-based company that has spent years killing pests across the U.S. says its headquarters city is one of the worst for mosquitoes.

Terminix, a company of ServiceMaster Global Holdings Inc., ranks Memphis No. 6 on a list of cities with the worst mosquito problems.

33. Flintco Files $25 Million Permit for ServiceMaster HQ -

150 Peabody Place
Memphis, TN 38103

Permit Amount: $25 million

Application Date: May 2017 

34. Pending Elvis Week Will Encompass New Amenities -

Graceland Plaza is just about all gone. Only a few brick storefronts remained Tuesday, May 16, in the area across Elvis Presley Boulevard from the late entertainer’s mansion. The late 1960s-era shopping center that became the entry point for tours of the mansion starting in the 1980s is being demolished to become a new entry point and green space for the $45 million Elvis Presley’s Memphis complex that opened in March.

35. ServiceMaster Endows U of M Anthropology Fellowship -

Memphis-based ServiceMaster Global Holdings Inc. has endowed a design and ethnography fellowship at the University of Memphis with a multiyear, $42,000 grant.

36. ServiceMaster Q1 Income Holds Steady; IP Profits Drop -

A pair of Memphis-based corporations – ServiceMaster Global Holdings and International Paper Co. – posted first-quarter numbers Thursday, April 27, that reflect ongoing changes at both.

37. Memphis Office Market Off to Good Start -

Though small to mid-sized leases comprised the majority of leasing activity, the Memphis area office market got off to a healthy start in 2017, according to Cushman & Wakefield/Commercial Advisors’ first quarter Marketbeat report.

38. Shaffer Named Executive Director Of Rebranded BLDG Memphis -

John Paul Shaffer recently was named executive director of BLDG Memphis, the rebranded entity that brings the Community Development Council of Greater Memphis and Livable Mem-phis under a single organizational identity.
In his new role, Shaffer’s job is to guide the organization in its mission of supporting neighborhood revitalization through a network of organizations and individuals working in the community development space – which BLDG Memphis does primarily through organizational capacity building, community education and engagement, and public policy and advocacy – as well as to promote the new brand. 

39. Editorial: Ending the Shell Game Of Memphis Buildings -

Memphis’ tallest building, 100 North Main, is a dump – a fenced-off, red-tape-entangled, code-violating fire hazard of a dump. Its owners aren’t doing anything about it, and it’s not the only property in this city sitting unused and neglected.

40. Sustaining the Rally -

Innings come to an end, games come to an end, and seasons come to an end. Yet the Memphis Redbirds are forever playing against their best selves – those grand and glorious days when AutoZone Park was new and the Triple-A baseball team competed in the highest-level pro sports league in town.

41. Penn National Gaming to Buy 2 Tunica Casinos for $44M -

1450 Bally Blvd.
Robinsonville, MS 38664 

Sale Amount: $44 million

Sale Date: March 28, 2017

42. ServiceMaster Partnering With Minor League Baseball -

Memphis-based residential and commercial services provider ServiceMaster Global Holdings Inc. has entered into a multiyear partnership with Minor League Baseball.

43. ServiceMaster Partnering With Minor League Baseball -

Memphis-based residential and commercial services provider ServiceMaster Global Holdings Inc. has entered into a multiyear partnership with Minor League Baseball.

44. FedExFamilyHouse Breaks Ground on $12M Expansion -

918 Poplar Ave.
Memphis, TN 38105

Project Cost: $12 million 

Owners: Le Bonheur Children’s Hospital and FedEx

45. Flintco Leads Construction On ServiceMaster HQ -

Memphis-based ServiceMaster Global Holdings announced Flintco LLC will be heading up construction and renovation efforts at its new headquarters Downtown.

46. Ag Shark Tank Joins Memphis Farm & Gin Show -

The Memphis Farm & Gin Show opened its annual two-day stay at the Memphis Cook Convention Center Friday, March 3, with something new – a business “shark tank” of sorts amidst the towering farm machinery and other agriculture technology.

47. ServiceMaster Names General Contractor for Downtown HQ -

Memphis-based ServiceMaster Global Holdings announced Flintco LLC will be heading up construction and renovation efforts at its new global headquarters in Downtown Memphis.

48. 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.

49. 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.

50. 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.

51. 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.

52. 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.

53. 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

54. 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.

55. 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.

56. 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.

57. 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.

58. 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.

59. 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.

60. 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

61. 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.

62. 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.

63. 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.

64. 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.

65. 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.

66. 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.

67. 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.

68. 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.

69. 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.

70. 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.

71. 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.

72. 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.

73. 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.

74. 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.

75. 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.

76. 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.

77. 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.

78. 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.

79. $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.

80. 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:

81. 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.

82. 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.

83. 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.

84. Southeast Memphis Portfolio Sells for $23.6 Million -

Multiple Properties

Memphis, TN 38118

Sale Amount: $23.6 million

Sale Date: Sept. 27, 2016

85. 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.

86. 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.

87. Belz Preparing Peabody Place for ServiceMaster HQ -

150 Peabody Place

Memphis, TN 38103

Permit Amount: $9.5 million

Project Cost: $27 million overall

88. 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.

89. 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.

90. 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.

91. Three Industrial Properties Sell for $9.6 Million -

Malone Distribution Park 

Memphis, TN 38118

Sale Amount: $9.6 million

Sale Date: Sept. 8

92. 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.

93. 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

94. 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.

95. 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.

96. 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.

97. 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.

98. 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.

99. 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.

100. 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.