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Editorial Results (free)

1. Memphis Army Depot, CA Building Get New Owners -

2028 Memphis Depot Pkwy.
Memphis, TN 38114

Sale Amount: $50 million

2. Digest -

Memphis Grizzlies Suffer 15th Consecutive Loss

The Grizzlies lost their 15th straight game, 119-110 at Chicago, on Wednesday, March 7.

The team has not won since defeating the Phoenix Suns at FedExForum on Jan. 29.

3. Memphis Hilton Sale, New FedEx Hub Building Highlight Busy Week -

939 Ridge Lake Blvd.

Memphis, TN 38120

Sale Amount: $31 million

Sale Date: Jan. 3, 2018

Buyer: Linchris Hotel Corp.

Seller: Davidson Hotels and Resorts

4. Possible Trader Joe’s Update, New $35M Airport Facility -

In this week’s Real Estate Recap, a new development in the saga of Germantown’s Trader Joe’s, Memphis International Airport begins work on a new $35 million facility, and Central BBQ announces a new a location...

5. Germantown Medical Office Sells for $16M -

1325 Wolf Park Drive, Germantown, TN 38138

Sale Amount: $15.9 million

Buyer: Global Medical REIT

6. Memphis Industrial Center Sells for $3.7 Million -

Boston-based real estate investment firm Plymouth Industrial REIT has expanded its local portfolio with the acquisition of a 132,000-square-foot industrial center in southeast Memphis.

In the deal, Plymouth purchased the property from Huntington Industrial Partners for $3.7 million.

7. SE Memphis Industrial Center Sells for $3.7 Million -

Boston-based real estate investment firm Plymouth Industrial REIT has expanded its local portfolio with the acquisition of a 132,000-square-foot industrial center in southeast Memphis.

In the deal, Plymouth purchased the property from Huntington Industrial Partners for $3.7 million.

8. Plymouth REIT Expands Memphis Portfolio -

Boston-based real estate investment firm Plymouth Industrial REIT has expanded its local portfolio with the acquisition of a 132,000-square-foot industrial center in southeast Memphis.

In the deal, Plymouth purchased the property from Huntington Industrial Partners for $3.7 million.

9. Last Word: The Amazon Competition, Millington Shelters and Grizz Ownership Drama -

With a social media post Thursday morning, Memphis Mayor Jim Strickland said the city is ready to compete in a very public competition for the $5-billion second North American headquarters Amazon.com announced earlier Thursday. Some context here. The $5 billion investment by Amazon in what it calls HQ2 compares to the $9 billion St. Jude is investing in its expansion including about $1 billion in capital costs and the rest research, technology and other development costs included in what is more than a physical expansion.

10. 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.

11. The Buying And Selling Of Memphis -

Even before he went to federal prison for 25 years on a racketeering conviction in 1995, Danny Owens had a real estate portfolio. The strip-club kingpin who defined the industry in Memphis across a 20-year period owned the old Memphian movie theater and made possible its 1986 sale to Playhouse on the Square by donating $160,000 toward its purchase.

12. Faropoint Acquires Massive Industrial Portfolio for $33.1M -

Looking to continue its recent trend of bullish activity in the Memphis market, Faropoint Ventures has acquired a 1.1-million-square-foot industrial portfolio for $33.1 million. Details on that and more commercial real estate news in this week's Real Estate Recap...

13. New York Firm Pays $23M for 3 Germantown Hotels -

7750 Wolf River Blvd., 9314 Poplar Pike and 9320 Poplar Pike, Germantown, TN 38138 | Sale Amount: $23 million

Sale Date: April 28, 2017

14. State Of The Suburbs -

With its central location, unparalleled access to major roads, rails, runways and rivers and low cost-of-living, it’s no surprise that Memphis and the surrounding area is a popular destination for corporate headquarters, national retail brands and major industrial centers.

15. 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

16. 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.

17. 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

18. Last Word: The Airport and Hotels, Loans and Musicians and Underground in Town -

That didn’t take long. Fired one day, hired the next for Dave Joerger now formerly of the Grizz.

19. International Real Estate Firms Find Purchase Potential in Memphis -

International investors and developers are increasingly looking to Memphis because the market is stable and the returns are high, according to a variety of real estate professionals doing business locally.

20. Collierville Assisted Living Facility Sells for $17 Million -

601 Wolf River Blvd.
Collierville, TN 38017

Sale Amount: $17 million

Sale Date: Dec. 29, 2015

21. 'En Fuego' -

When Southaven Mayor Darren Musselwhite took office in June 2013, one of the first tasks that landed on his desk was a long-planned regional outlet mall.

The outlet mall, planned for a roughly 33-acre site at Church Road and Interstate 55 in the DeSoto County city, had been on the drawing board for some time, but the recession and its aftermath caused developers and Mississippi officials to put it on hold.

22. Office, Industrial Real Estate Rebounds in First Quarter -

In a sure sign that the local economy is in rebound mode, the Memphis-area commercial real estate market is heating up with the industrial and office sectors producing strong gains.

Fueled by strong demand and tightening of available space, rental rates for Class A space in East Memphis, the city’s primary business district, are approaching pre-recession levels, according to a new report.

23. Commercial Real Estate Bounces Back -

After slowing to a crawl in the years following the Great Recession, commercial real estate activity in Metropolitan Knoxville is showing signs of sustained growth.

Last year marked a solid increase in sales and leasing in the Knoxville region, and 2015 is off to a good start, according to several area real estate executives.

24. Building Boom -

With the greater Memphis area slower to recover from the recession and economic downturn than other parts of the country, frustrated local general contractors watched in 2012 and 2013 as firms across the country participated in what appeared to be a robust national economic rebound.

25. Shelby Farms Conservancy Seeks $7.2 Million in Permits -

6093 N Patriot Lake Blvd.
415 E. Patriot Lake Blvd.
Memphis, TN 38118
Permit Amount: $7.2 million

26. Airport Business Park Sells for $4.7 Million -

A group affiliated with a Dallas-based commercial real estate financing company has acquired Airport Business Park at a significant discount.

CRE ABP Memphis LLC, which is affiliated with Dallas-based Gearing Capital Partners Inc., bought Airport Business Park from Allegiance Realty Corp. for $4.7 million, according to a Jan. 21 warranty deed.

27. Airport Business Park Sells for $4.7 Million -

A group affiliated with a Dallas-based commercial real estate financing company has acquired Airport Business Park at a significant discount.

CRE ABP Memphis LLC, which is affiliated with Dallas-based Gearing Capital Partners Inc., bought Airport Business Park from Allegiance Realty Corp. for $4.7 million, according to a Jan. 21 warranty deed.

28. HipD: Donelson Finds Its Cool Side -

The tag “Hip Donelson” evoked plenty of snickers, eye rolls and snarky comments when it first appeared. After all, the local joke goes, Donelson’s known for hip replacements – not hipsters.

29. ‘Significant Headwinds’ -

When Gov. Bill Haslam joined local economic development and civic officials at FedExForum in January to announce that Conduit Global would open a call center in Shelby County that would employ 1,000 people over the next three to five years, it provided a much-needed boost to the local office real estate sector.

30. Real Estate ‘Titans’ Share Industry Advice -

In the 1980s Dan Wilkinson and Robert Snowden were deeply involved in developing Memphis International Airport Center.

31. Eastgate Set for Possible Makeover -

A venerable shopping center in East Memphis could be getting a significant makeover, according to a recent retail market report from CB Richard Ellis Memphis.

Eastgate Center LLC, the owner of Eastgate Shopping Center at Park Avenue and White Station Road in East Memphis, could make significant aesthetic improvements to the retail center beginning this year.

32. Commercial Advisors Capital Markets to Zero In on ‘Untapped Segment’ -

Cushman & Wakefield/Commercial Advisors Asset Services LLC has launched a Capital Markets Group, a new service line to complement the firm’s tenant representation and third-party leasing and management businesses.

33. Kroger Buys Union Space for Expansion -

Kroger has acquired the Belvedere Apartments in Midtown as part of a long-term project to reconfigure the grocery store’s antiquated and challenged layout.

Kroger Delta Division closed Wednesday, Sept. 12, on the 10-story apartment high-rise at 1733 Union Ave. from Belvedere Apartment Inc. The sale includes Belvedere’s attached and front parking areas.

34. Firms Make Investments in Memphis Distribution -

In the past month, a pair of out-of-town firms have scooped up local distribution warehouses, growing its Memphis industrial real estate portfolio and planning for more.

Montreal-based Olymbec USA LLC recently closed on its $1.5 million purchase of 3615 Lamar Ave. from an entity affiliated with Miami-based loan servicer LNR Partners LLC.

35. Exeter Closes On Acquisition Of ProLogis Properties -

Pennsylvania-based Exeter Property Group has closed on its acquisition of 10 Memphis-area industrial buildings for $40 million from San Francisco-based ProLogis Inc.

36. Memphis Advantage -

As the industrial market approaches the end of the first quarter, a handful of deals have local brokers encouraged that the city’s bread-and-butter sector is poised for recovery.

Recent notable industrial leasing transactions – all of which occurred in Class A bulk warehouses – include Trane U.S. Inc.’s 625,000-square-foot lease in Chickasaw Distribution Center; Kimberly Clark Corp.’s 556,000-square-foot lease in Airways Distribution Center; and Impact Innovations’ 275,000-square-foot space at Southridge Corporate Park.

37. Grinding it Out -

After most recessions, real estate bounces back.

But the Great Recession has been notably different – long, deep and very prolonged.

That’s the message Dr. John Gnuschke, director of the Sparks Bureau of Business and Economic Research and co-director of the Center for Real Estate at the University of Memphis, delivered in December at the Urban Land Institute’s Real Estate Outlook for the Mid-South.

38. Prolonged Recession -

In the words of Phil Woodard, an owner of multiple residential and commercial properties in Downtown Memphis, breaking even is the new profit.

Or as national real estate expert Jonathan Miller said earlier this month at the Urban Land Institute’s Real Estate Outlook for the Mid-South, “We cannot expect to make money the way we did a few years ago.”

39. Defense Depot Property Sells for $1.1 Million -

2085 W.E. Freeman Drive
Memphis, TN 38114
Sale Amount: $1.1 million

Sale Date: Sept. 14, 2011

Buyer: Varma Family LP

40. JLS Enterprises Buys SE Market Warehouse -

A 51,000-square-foot industrial building in the Southeast submarket has traded hands. JLS Enterprises LLC purchased 4021 Delp St. in Airport Industrial Park for $850,000. The warehouse currently houses Coca-Cola Enterprises Inc. and is 100 percent occupied.

41. Cable Service Provider Signs New Lease -

A Madison, Tenn.-based cable service provider is taking advantage of lower rates in a competitive leasing environment.

FTS USA has signed a 4,002-square-foot lease in East Pointe Business Center, 3915 S. Mendenhall Road.

42. Black Equip. Supply Grows Memphis Presence -

Black Equipment Supply is relocating its Memphis presence to a space that nearly doubles the size of the firm’s former location.

The company will vacate its 14,000-square-foot space off Cherry Road and has signed a 25,372-square-foot lease at Shelby Air Park, 4570 Shelby Air Drive, suite 8.

43. Cautious Optimism -

Industrial real estate, which thrives whenever companies choose one of the city’s numerous warehouses and distribution centers to store their goods, plays a significant role in Memphis’ economy.

So as the recession improves and consumerism rebounds, the industrial sector is bound to show improvement as will the city’s financial climate.

44. Tunica's New Cash Crop? -

When Xiaolin “Charles” Wang was introduced at an October press conference announcing plans to build a $1 billion hybrid automotive plant in Tunica County, he was described by the emcee as a man who “dreams big and drives fast.”

45. Taking Off -

Aviators attain flight and control the movements of their aircraft by precisely balancing the forces of lift, thrust, drag and gravity. The people piloting the aerotropolis initiative – the promotion of Memphis’ economy focused on the airport, other transportation assets and the connectivity among them – are negotiating their own set of physics in hopes of becoming airborne.

46. Taking Off -

Aviators attain flight and control the movements of their aircraft by precisely balancing the forces of lift, thrust, drag and gravity. The people piloting the aerotropolis initiative – the promotion of Memphis’ economy focused on the airport, other transportation assets and the connectivity among them – are negotiating their own set of physics in hopes of becoming airborne.

47. Citizens Concerned About I-269 Impact -

When Interstate 269 is completed, it will serve as an outer loop for the entire Mid-South region, a beltway linking communities and providing easier access for vehicles traveling into or out of Memphis.

48. Tight Credit Put Squeeze On ‘08 Commercial Real Estate Sales -

As with the residential sector, 2008 was a year to forget in commercial real estate, which suffered declining sales and endured a nationwide credit crunch throughout the year.

“The big storyline in ’08 was that lenders weren’t lending,” said Johnny Lamberson, senior vice president at CB Richard Ellis Memphis. “It put a real tightening on deals getting done. If deals weren’t highly leveraged, as the year went on it became harder and harder to get transactions closed because nobody was lending money.”

49. Mayor Strikes Back About Private Business Dealings -

Memphis Mayor Willie Herenton has hired an attorney, and on the attorney’s advice, is not commenting about corruption allegations reportedly being investigated by a federal grand jury.

50. Mayor Strikes Back About Private Business Dealings -

Memphis Mayor Willie Herenton has hired an attorney, and on the attorney’s advice, is not commenting about corruption allegations reportedly being investigated by a federal grand jury.

Before a Tuesday speech to the Memphis Rotary Club at the University Club of Memphis, Mayor Willie Herenton said in a written statement he handed to The Daily News that recent news stories about his personal business dealings “have caused my name and character to be attacked, and the true facts should be made available to the public.”

51. Investors Group to Discuss Economic Development - How does the rest of the country view the Memphis real estate market? Larry Jensen, president and CEO of Commercial Advisors LLC, admits it can be a mixed bag, namely because the message Memphians send differs from the one they should be sending.

Jensen, a 30-year real estate veteran, will address that question – and provide a few different views – as guest speaker at the Memphis Investors Group’s monthly meeting Oct. 9 at 7 p.m. at the Germantown Athletic Club, 1801 Exeter Road.

The biggest problem, Jensen noted, is the city’s leaders don’t spend enough time focused on job creation, the biggest economic impact for a metropolitan area. Without that, companies hesitate to invest here.

“We don’t have enough priority in our community thinking about jobs creation – not just attracting new businesses here but making it an attractive place for existing businesses to expand,” Jensen said. “Is our welcome mat out in the community?”

Moreover, he said the city isn’t as “business friendly” as it once was, a huge detriment to attracting new companies or helping existing companies expand.

“I’m not so sure right now that we are (business friendly) as a community,” he said. “I think that’s one of the biggest problems – our reputation in the country.”

Focus on the positives

But the city’s problems aren’t the messages he wants to convey to attendees at next week’s Memphis Investors Group (MIG) meeting. Instead, Jensen wants to focus on the ABCs of the Memphis economy. For Jensen, it’s important for Memphis business leaders, especially real estate professionals, to focus on the fundamentals of the city’s economy.

That starts with the “A” for aerotropolis, the idea of building an economy around Memphis International Airport, a $22 billion engine.

“It’s really putting a bow around what we really have,” Jensen said. “We’re sitting as one of the major, major, major nodes in the rail intermodal (industry) and with the airport. You put those two things together and there are a lot of communities around this country that would be mighty happy and mighty proud of having that in place.”

Beyond that, Jensen touted the city’s other assets. “B” is for biosciences industry, “C” is for its community assets like Shelby Farms Park and “D” is for its diversity. All those factors are keys to making Memphis more attractive to companies looking to expand their operations here, and the city – its governmental, business and cultural leaders – have to be on track with them for Memphis to thrive.

Jensen said he doesn’t want to sound overly Pollyanna, but he noted that to attract more investment in the city, whether it’s in retail, industrial, office or residential real estate, the city’s good points have to be on display.

“If you’re comfortable with a place,” Jensen said, “then you’ll invest your money there.”

Different parameters

Kevin Peck, owner of the local investment firm Kevron Properties and MIG secretary, is comfortable investing his money in Memphis real estate and sees why the city, with its undervalued property values, has drawn interest from outside capital.

“We’re a little bit better off,” Peck said. “Prices have dropped here somewhat, just not cataclysmically as they have in other areas of the country.”

Peck is looking specifically at the residential side of investing, where everyday people from Memphis and from outside are looking to buy city houses on the cheap with hopes of flipping or renting. But with credit so tight these days, even the real estate investment gig is evolving.

“You can’t flip that house anymore because folks can’t get credit to buy (and sell), but if you’ve got credit to buy and hold, then you’re good to go,” said Peck, noting that a large segment of the population was “wiped away” from getting a mortgage because of the fallout. “On the flip side, that (situation) created renters, so if you’re buying and holding for rent, then some things are OK. We buy and hold and rent, and we’re finding that we’re doing OK. You can invest in real estate here and make it have good cash flow.”

Ultimately, Peck said, that’s why city homes will continue to be bought even during this economic and real estate slump.

“You can still buy a property for a good price, and if you’re smart about it, you can make it cash flow and make some money,” he said. “I think that’s why Memphis is attractive to folks.”

In addition to Jensen’s talk, the MIG monthly meeting begins with an “early bird” session at 6 p.m. This month’s topics include “Networking 101," "Getting Started Right in Real Estate" and "Investing in Your Self-Directed IRA.”

...

52. Commercial Sales See 26% Rise Over Last Year -

Large real estate deals tend to garner recognition with their high-dollar price tags and high-volume portfolios. But it's the untold small- and medium-sized transactions that help keep a market healthy and vital.

53. Archived Article -

Airport Business Park
North of Democrat Road
Sale Amount: $13.8 million

Sale Date: Feb. 21, 2007

54. Airport Business ParkSells for Nearly $14 Million -      A real estate investment firm based in Charlotte, N.C., has entered the Memphis market with the purchase of Airport Business Park.
     Allegiance Realty Corp., under the names Airport Busin

55. Archived Article -

7951 Winchester Road
Memphis, TN 38125
Sale Amount: $7.7 million

Sale Date: May 25, 2006

56. Archived Article: Market Briefs - The Memphis Regional Chamber

The Memphis Regional Chamber hosts a luncheon for its board of directors and board of ambassadors at 11:30 a.m. today at the Racquet Club of Memphis, 5111 Sanderlin Ave.

The featured speaker is Jim Phillips, chairm...

57. Archived Article: Real Focus - By JENNIFER MURLEY

DeSoto County still on fire for industrial growth

By JENNIFER MURLEY

The Daily News

Just as DeSoto Countys residential population has boomed over the last decade, experiencing a nearly 60 percent increase, industrial d...

58. Archived Article: Real Focus - By JENNIFER MURLEY

Viable business park rising from ashes of defense depot

By JENNIFER MURLEY

The Daily News

Its been four years since the 642-acre Memphis Defense Depot closed under the Defense Realignment and Closure Act of 1990, in Se...

59. Archived Article: Getwell (lead) - Getwell Gardens rezoning bid heads to city council Getwell Gardens rezoning bid on city council agenda By SUE PEASE The Daily News Giving a now-vacant public housing development a new lease on life was one of the tasks charged to the Memphis City Co...

60. Archived Article: Real Focus - By JENNIFER MURLEY Out-of-towners find Memphis real estate enticing By JENNIFER MURLEY The Daily News Within the past three years, two out-of-town commercial real estate investment firms drawn to the growth and location of Memphis have acquired near...

61. Archived Article: Acee (lead) - By SUE PEASE Industrial building underway near viaduct By SUE PEASE The Daily News A new commercial building going up just outside Midtown in an office area near the Poplar Avenue viaduct may be the newest home for a logistics company. The Acee Co.,...

62. Archived Article: Ftz (lead) - Foreign trade zone on tap for Depot Foreign trade zone on tap for Depot By KATHLEEN BURT The Daily News Another boost designed to enhance redevelopment of the former Defense Depot is in the works. City planners this week hope to send an application ...

63. Archived Article: Marketplace St - By SUZANNE THOMPSON Nonconnah Parkway corridor set to explode By SUZANNE THOMPSON The Daily News Nonconnah Parkway is now open from Ridgeway Road to Byhalia Road. Ongoing construction of the parkway the outer loop of the expressway that will one day...

64. Archived Article: Power Lead - Real Review 11-2-99 Duke applies to build Southaven power plant By LAURIE JOHNSON The Daily News Charlotte, N.C.-based Duke Energy has filed a petition with the Mississippi Public Service Commission for a certificate to build an electric generating ...

65. Archived Article: Real Focus - The demand for DeSoto The demand for DeSoto New projects representing more than $360 million in capital investments may be leading DeSoto County toward another record-breaking year for development By LAURIE JOHNSON The Daily News With nine companies...

66. Archived Article: Commerce (bott) Lj - By LAURIE JOHNSON Construction underway on Commerce Center By LAURIE JOHNSON The Daily News Construction is underway on a 107,000-square-foot warehouse/distribution facility on U.S. Highway 78 in Southeast Memphis. The new facility, called Commerce ...

67. Archived Article: Lasalle Acquisition Lj - By LAURIE JOHNSON LaSalle Advisors buys two Memphis office properties By LAURIE JOHNSON The Daily News One of the countrys largest real estate service and investment groups has closed a $22 million deal for two office properties in Memphis. LaSalle ...

68. Archived Article: Idi (century Cntr) Lj - lj 10/5 cates Century Center property changes hands By LAURIE JOHNSON The Daily News Industrial Developments International closed a deal last week for $13.2 million, selling all four of the buildings it had developed and leased out in the Century Ce...