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Editorial Results (free)

1. Walmart Sees Strong Online Sales Lift Third-Quarter Results -

NEW YORK (AP) – A surging online business and strong food sales boosted Walmart's results Thursday ahead of the holiday season, a day after its rival Target offered a cautious forecast that overshadowed progress it has made in bringing more customers to its stores.

2. Shelby Farms Draws $142 Million, 71-Acre Development -

Elmington Capital Group has submitted plans for a 71-acre senior housing, apartment and single-family development next to Shelby Farms Park. Dwell at Shelby Farms is a new $142 million development to be located on the north side of Raleigh-LaGrange Road near the intersections of Trinity and Fischer Steel roads.

3. Arts Are Creative, Economic Fuel for Memphis -

On a recent arrival at the Memphis International Airport, I marveled that my watch hadn’t even been set to Central Time before I heard buzz of the RiverArtsFest, and acquired a hot tip to visit Wild Bill’s for a “real blues club” experience. I’d just arrived and already the arts in Memphis were calling to me.

4. Shelby Farms Draws New 71-Acre, $142M Development -

In a joint venture with Charles Crews of Crews Investment Holdings, Nashville-based Elmington Capital Group has submitted plans to the Office of Planning and Development for a 71-acre senior housing, apartment and single-family development next to Shelby Farms Park.

5. Making Best Better -

More than a decade ago, Carolyn Hardy was a vice president with the Coors Brewing Co. in Memphis when she attended the Leadership Development Intensive (LDI), a personal leadership training ground stretched across 3 1/2 days.

6. Nashville Developers Planning Massive 71-Acre Project Near Shelby Farms -

Nashville-based Elmington Capital Group has submitted plans to the Office of Planning and Development for a 71-acre senior housing, apartment and single-family development next to Shelby Farms Park.

7. City's Tentative Fairgrounds Plan Confirms Separating Coliseum from Youth Sports -

Memphis Mayor Jim Strickland’s tentative plan for the redevelopment of the Mid-South Fairgrounds, presented Monday, Nov. 6, included a renovation of old Melrose High School in neighboring Orange Mound and a confirmation that the city administration doesn’t think the Mid-South Coliseum should be part of a youth sports tournament complex.

8. Memphis Flexes Its Strengths In Improving Real Estate Market -

The evolution of e-commerce and its transformative effects on the real estate market are not just limited to the retail sector, and while many trends and topics were discussed at The Daily News’ annual Commercial Real Estate Review & Forecast Seminar on Nov. 2, this was one of the overarching themes.

9. Iconic E. Memphis Office Building Sells for $19.7M -

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

10. Exeter Closes on Fifth Major Purchase in October -

Pennsylvania-based real estate investment management firm Exeter Property Group made its fifth significant local investment within a month with the $13.8 million purchase of a 400,000-square-foot industrial property in southeast Memphis.

11. Women in Memphis Higher Ed Detail Common Challenges, Goals -

In less than three years, women have taken the top leadership posts at three of Memphis’ largest higher education institutions. Southwest Tennessee Community College president Tracy Hall, Rhodes College president Marjorie Hass and LeMoyne-Owen College president Andrea Miller lead a diverse mix of institutions with different missions, but they share common thoughts about the challenges and opportunities facing higher education today.

12. Trump Nominates Jerome Powell to be Next Fed Chairman -

WASHINGTON (AP) – President Donald Trump on Thursday announced his choice of Federal Reserve board member Jerome Powell to be the next chairman of the nation's central bank, succeeding Janet Yellen, the first woman to hold the position.

13. Trustmark Centre Sells for Nearly $20M -

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

Nashville-based Magnolia Capital Investments has purchased the Trustmark Centre located at 5350 Poplar Ave. from Israeli investment group Faropoint Investments.

14. Exeter Closes on Fifth Major Purchase in October -

Pennsylvania-based real estate investment management firm Exeter Property Group made its fifth significant local investment within a month with the $13.8 million purchase of a 400,000-square-foot industrial property in southeast Memphis.

15. Exxon Settles Pollution Case With Feds by Upgrading 8 Plants -

DALLAS (AP) – Exxon Mobil settled air pollution violations with the Trump administration by paying a $2.5 million civil penalty and promising to spend $300 million on pollution-control technology at several plants along the Gulf Coast.

16. Real Estate Market In Focus At Seminar -

The Daily News will host its annual Commercial Real Estate Review & Forecast Seminar on Thursday, Nov. 2, at the Memphis Brooks Museum of Art, 1934 Poplar Ave.

17. Gibson Plans to Sell Downtown Factory, Build a New One -

145 Lt. George W. Lee Ave., Memphis, TN 38103: Nashville-based guitar maker Gibson Brands Inc. confirmed Friday, Oct. 20, it is putting its Downtown Memphis factory on the market and plans to build and lease a new facility nearby.

18. Highland Row Owner Secures $245M in Capital -

Indianapolis-based developer Milhaus, which currently owns the Highland Row in Memphis, has secured $245 million in new capital from FrontRange Capital Partners, StepStone Group Real Estate LP, and a group of internal investors.

19. Pennsylvania Investor Buys More Memphis Property -

Exeter Property Group has made its second significant splash in the Memphis market with the combined $34.5 million acquisition of two industrial properties.

In the first purchase, Exeter Property Group, doing business as Exeter 4755 Southpoint LLC, purchased a 700,000-square-foot Class A warehouse located at 4755 Southpoint Drive from New York-based Treeview Real Estate Advisors LP for $17.3 million.

20. Construction Continues On Hickman Building -

Walk Off Properties, the new owners of the historic Hickman Building at 240 Madison Ave. in Downtown Memphis, are continuing their renovation of the property.

21. Clicking on All Cylinders -

Memphis is a city on the precipice of change as projects that were once deemed impossible – like ServiceMaster’s Downtown headquarters or Crosstown Concourse – have emboldened developers and city officials to shoot for the moon.

22. Construction Continues On Hickman Building -

Walk Off Properties, the new owners of the historic Hickman Building at 240 Madison Ave. in Downtown Memphis, are continuing their renovation of the property.

23. Effects Of E-commerce, Amazon Among Seminar Topics -

The growth of e-commerce has been one of the most transformative trends in real estate over the past few years and Memphis’ unique geography has it poised to reap the benefits.

While the more traditional industrial projects like Amazon’s proposed 615,440-square-foot receiving center at 3292 Holmes Road or DHL’s planned 580,000-square-foot distribution facility less than a mile to the south come to mind, the ripple effects of this can be felt in other areas as well, such as in typical brick-and-mortar retail operations.

24. Pennsylvania Investment Group Makes $34.5M Splash -

Exeter Property Group as make its second significant splash in the Memphis market with the combined $34.5 million acquisition of two industrial properties.

In the first purchase, Exeter Property Group, doing business as Exeter 4755 Southpoint LLC, purchased a 700,000-square-foot Class A warehouse located at 4755 Southpoint Drive from New York-based Treeview Real Estate Advisors LP for $17.3 million.

25. Highline Aftermarket Expands Memphis Facility -

Highline Aftermarket, a manufacturer and distributor of automotive chemicals, lubricants, parts, tools and related accessories, is expanding its existing Memphis presence and headquarters in Memphis.

26. U of M Files $33.5M Permit for Land Bridge -

570 Houston St. 

Memphis, TN 38111

Permit Amount: $33.5 million

Owner: University of Memphis

Details: The University of Memphis has filed a $33.5 million building permit application with the Office of Construction Code Enforcement to move forward with a parking garage and a long-awaited land bridge over the Southern Avenue railroad track.

27. Big Question For US Cities: Is Amazon's HQ2 Worth The Price? -

WASHINGTON (AP) – Dozens of cities are working frantically to land Amazon's second headquarters, raising a weighty question with no easy answer:

Is it worth it?

Amazon is promising $5 billion of investment and 50,000 jobs over the next decade and a half. Yet the winning city would have to provide Amazon with generous tax breaks and other incentives that can erode a city's tax base.

28. Seminar To Feature ULI Emerging Trends Report -

For the second straight year, ULI Memphis is partnering with The Daily News to present its 2018 Emerging Trends Report on Thursday, Nov. 2, at the Memphis Brooks Museum of Art.

The report will immediately precede TDN’s Commercial Real Estate Review & Forecast Seminar, where a panel of local real estate experts will discuss how these trends will affect the Memphis area.

29. Highline Aftermarket Expands at Memphis HQ -

Highline Aftermarket, a manufacturer and distributor of automotive chemicals, lubricants, parts, tools and related accessories, is expanding its existing Memphis presence and headquarters in Memphis.

30. Ring Partners With Conagra On PAM Spray Bottles -

Ring Container Technologies, a product packaging and plastic container manufacturing company based in Oakland, Tennessee, has completed a collaboration with Conagra Brands to create a new plastic bottle for PAM Cooking Spray.

31. Turning The Page -

The Memphis Grizzlies still cling to their old grit-and-grind identity – at least for marketing purposes and perhaps a subconscious need for comfort and security. But they also decided now was the time they had to initiate transformative change.

32. Here Comes Earnings Season: Brace for a Slowdown in Growth -

NEW YORK (AP) – Earnings reporting season is getting underway, and Wall Street is getting ready to be underwhelmed.

Profit growth likely slowed sharply in the summer for U.S. companies after hurricanes and other natural disasters caused big damage. Analysts are forecasting weaker earnings for several areas of the market from a year ago, a sharp turnaround from earlier this year, when earnings were soaring by more than 10 percent and helping to drive the stock market to record heights.

33. Last Word: 'Seismic Shift,' Mason Village and Running A Store From A Cloud -

It doesn’t take a lot of imagination to drive through the old town part of Cordova near its one-time train station and see the potential. Now word of a new restaurant opening later this month in what is known as Farley House. The old town is an interesting mix of new development and old development including an iconic country Baptist church that not too long ago turned 100 years old. And then there is the trail head for the Shelby Farms Greenline that runs near the train station.

34. First Music Project Funded Through Memphis Slim House Loan Program -

Attendees of the Eric Hughes Band’s CD release party next week won’t see everything that goes into making a collection of tunes like the band’s latest.

The album – “Meet Me in Memphis” – and band will be feted Oct. 21 at the warehouse behind Earnestine & Hazel’s during a bash that includes live music and food by Central BBQ. Among the things that won’t be apparent amid the festivities, though, is all the work that goes into an undertaking like this, and the honing of chops that for Hughes has meant playing about 3,000 shows in Memphis since 2001.

35. Ring Partners With Conagra on PAM Spray Bottles -

Ring Container Technologies, a product packaging and plastic container manufacturing company based in Oakland, Tennessee, has completed a collaboration with Conagra Brands to create a new plastic bottle for PAM Cooking Spray.

36. Prologis Sells Two Industrial Buildings for $23.8M -

San Fransisco-based Prologis Inc. has sold two parcels of its Memphis portfolio for a combined $23.8 million.

37. Wright Investments To Buy Up to $400M in Hotels -

Wright Investments, a Memphis-based hotel management, investment and project management company, is planning to acquire up to $400 million in hotel properties over the next two to three years by investing the firm’s newly raised Hospitality Opportunity Fund II.

38. Last Word: Bonus For the Head Tiger, Brooks Downtown? and Harris Runs -

A $100,000 bonus from the University of Memphis board of trustees for U of M president David Rudd at Wednesday’s trustees meeting. The bonus is from private funds raised by the university foundation. The board also approved a paid parental leave policy – specifically the funding for that policy. And it reviewed scaled-back plans for the $30 million new rec center for students that will incorporate some of the existing rec center.

39. Hotel Management Co. to Buy Up to $400M in Properties -

Wright Investments, a Memphis-based hotel management, investment and project management company, is planning to acquire up to $400 million in hotel properties over the next two to three years by investing the firm’s newly raised Hospitality Opportunity Fund II.

40. Morris Realty, Auction Combine Forces -

Morris Realty Group and Morris Auction Group have launched a new brand identity: Morris Realty & Auction. Buyers and sellers now can access each company’s services in one place.

“In today’s marketplace, buyers and sellers desire a one-stop shop for their real estate marketing and auction needs, and Morris Realty & Auction is now positioned to offer that comprehensive experience as we drive successful results for our clients,” Jeff Morris, founder and president of Morris Realty & Auction, said in a statement.

41. Crosstown Crossroads -

For the past 90 years, Crosstown has seen its share of ups and downs. In the beginning, it was a shining beacon for the city’s eastward expansion; at its height, it anchored several vibrant and diverse neighborhoods; and at its lowest, Crosstown became the poster child for once-great inner-city areas of Memphis that had deteriorated.

42. Morris Realty, Auction Groups Merge Into One Company -

Morris Realty Group and Morris Auction Group have launched a new brand identity: Morris Realty & Auction. Buyers and sellers now can access each company’s services in one place.

“In today’s marketplace, buyers and sellers desire a one-stop shop for their real estate marketing and auction needs, and Morris Realty & Auction is now positioned to offer that comprehensive experience as we drive successful results for our clients,” Jeff Morris, founder and president of Morris Realty & Auction, said in a statement.

43. For Memphis Libraries, ‘Start Here’ Message is Reality -

At a time when it might seem that the usefulness of public libraries is waning, they are reemerging as 21st century community hubs — democratic spaces where people from every walk of life can encounter humanity, the elusive element technology cannot conquer.

44. Target is Raising Minimum Hourly Wage to $15 by End of 2020 -

NEW YORK (AP) – Target Corp. is raising its minimum hourly wage for workers to $11 starting next month and then to $15 by the end of 2020, a move it says will help it hire and keep the best employees and make shopping a better experience for customers.

45. GPAC Planning New Open-Air Venue -

1801 Exeter Road, Germantown, TN 38138

Owner: Germantown Performing Arts Center

46. Highwoods Sells Southwind Portfolio for $39M -

Highwoods Properties Inc. has sold a massive portion of its portfolio in Southwind to a New York-based investment group for $39 million.

47. Last Word: The Brooks Question, Boyd's Answer and Tigers In the Polls -

Art as a real estate consideration. One of the more unusual of many considerations as the Brooks search for a new site – a possible new site, I should add, becomes the city’s favorite topic. So from the CRE vantage point – here are two more possible sites to think about if you haven’t already – Cossitt Library and the Fairgrounds, as well as right where it has been for the last century.

48. Highwoods Sells Southwind Portfolio for Nearly $40M -

Highwoods Properties has sold a massive portion of its portfolio in Southwind to a New York-based investment group for $39 million.

In the deal, Highwoods Properties, doing business as Highwoods Reality Limited Partnership, sold eight parcels of land near the intersection of Players Club Parkway and Tournament Drive to Group RMC, which purchased the property under the name of Southwind Memphis Reality LP.

49. Germantown Medical Office Sells for $16M -

1325 Wolf Park Drive, Germantown, TN 38138

Sale Amount: $15.9 million

Buyer: Global Medical REIT

50. Southeast Shelby County Apartments Sell for $56M -

Preserve at Forest Creek, a sprawling southeast Shelby County apartment complex, has switched hands for more than $56 million.

In the deal, Blackstone, a New York City investment firm doing business as BRE Piper MF Forest Creek TN, sold the roughly 36-acre property to Columbus, Ohio-based investment management firm Coastal Ridge Real Estate doing business as PFC Memphis Borrowers for $56.6 million, according to a warranty deed filed on Sept. 14 with the Shelby County Register of Deeds.

51. 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.

52. Wunderlich Preparing Downtown Space for HQ Move -

By this time next year, Memphis-based investment firm Wunderlich Securities Inc. will have a prominent new headquarters space Downtown,

53. Waddell & Associates Platform Looks to Turn Millennials Into Investors -

Andrew Lichliter had a few thousand dollars in a retirement account, but wanted to change that to a different type of investment.

The problem, though, was that his $5,500 wasn’t nearly enough to open a typical investment account at most firms, some of which require hundreds of thousands of dollars just to start.

54. 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.

55. 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.

56. REIT Set to Make Fifth Downtown Memphis Investment -

Alpha Residential Trust, a Pittsburgh, Pennsylvania-based real estate investment trust, has entered into an agreement to purchase the 266 Lofts development at the corner of Front Street and Dr. Martin Luther King Jr. Boulevard.

57. The Week Ahead: Sept. 4-10 -

Hello, Memphis – and Happy Labor Day! Hopefully the promise of an exciting football season and Memphis Redbirds playoff games will help ease you back into work mode after the three-day weekend. Both are in store – along with Goat Days and much more – in The Week Ahead...

58. Whitehaven Boom Gets Arena Catalyst -

As she looked across Elvis Presley Boulevard from the parking lot of the new Tri-State Bank headquarters at Elvis Presley and Farrow Road last week, Memphis City Council member Patrice Robinson took in the view of the new five-bay retail strip and looked north at another new strip soon to come online, and talked about a third in the works.

59. Tax Overhaul Faces Resistance From Fans of Some Deductions -

WASHINGTON (AP) – President Donald Trump and congressional Republicans have pledged to overhaul the nation's complex tax code. To slash taxes, they say they'll curb a web of expensive deductions and credits to allow more revenue to flow to the government.

60. Rhodes’ Wigginton Shaping Campus Culture in New Role -

Rhodes College has appointed Russell Wigginton vice president of student life and dean of students. In his newly created role, he will provide leadership for student success and help shape the campus culture for a diverse and inclusive student body.

61. Council OKs $6M Loan for Wonder Bread Garage -

The Memphis City Council approved a $6 million loan on Tuesday, Aug. 22, to help finance the development of a 481-space parking garage that’s a key part of the $73 million Wonder Bread redevelopment.

62. Parking at Crux of Cooper Street Plan -

It’s no secret that adding density in core areas like Midtown and Downtown has become one of the city’s more high-profile developmental goals, which is why more plans for multifamily projects have been popping on the agendas of governing bodies recently.

63. South City Redevelopment Activity Heating Up -

The up-and-coming South City neighborhood is enjoying a resurgence of redevelopment activity lately, with the restoration of several historic properties, new multifamily construction and talk of bringing in a grocery store. The city and the Downtown Memphis Commission have been instrumental in the renewed interest, with noteworthy projects including the Clayborn Temple, the Universal Life Building and the demolition of Foote Homes.

64. Fairgrounds Plan Will Consider Familiar Items -

The Fairgrounds redevelopment plan forming on a fast track will probably look familiar as far as the elements proposed for it.

“We are starting with the premise that we are using the previous planning efforts as insight for how we move forward,” Paul Young, city of Memphis Housing and Community Development director said on the WKNO/Channel 10 program “Behind The Headlines.”

65. Downtown Lofts to Begin Second Phase -

In this week’s Real Estate Recap, 266 Lofts in Downtown Memphis begins its second phase, Peak Capital closes on a massive Cordova apartment complex, and a Chattanooga-based rock climbing gym purchases land in East Memphis.

66. South City Redevelopment Heats Up With Renovations, New Construction -

The up-and-coming South City neighborhood is enjoying a resurgence of redevelopment activity lately, with the restoration of several historic properties, new multifamily construction and talk of bringing in a grocery store. The city and the Downtown Memphis Commission have been instrumental in the renewed interest, with noteworthy projects including the Clayborn Temple, the Universal Life Building and the demolition of Foote Homes.

67. How Many Funds Make a Good Mix? -

Ray’s Take: When it comes to building a portfolio for retirement, your goal shouldn’t be to load up with as many different types of investments as you can in the hopes that you’ll outsmart any fluctuations in the market. Diversification, like all things, has its limits.

68. SBA Head Sees Businesses Held Back by Lack of Loans, Workers -

NEW YORK (AP) – Six months into her tenure as head of the Small Business Administration, Linda McMahon sees a split among small business owners – they are increasingly optimistic, she says, but many are held back by their inability to get loans or find the right workers for jobs that are staying open.

69. One Decade Later: Effects of Financial Crisis Still Linger -

Ten years removed from the worst financial crisis since the Great Depression, the banking industry has transformed itself and wealth managers say investors remain leery.

Among other things, First Tennessee Bank jettisoned its national mortgage operation in the wake of the crisis. It refocused its attention and efforts around being a strong regional bank, as opposed to one with aggressive national ambitions. It trimmed headcount, boosted investment in technology and began to specialize, creating new industry-specific teams in verticals like health care and music-industry banking.

70. Cordova Apartment Community Sells for $27.9M -

The Charleston, a 284-unit apartment community on the east side of Houston Levee Road just south of U.S. 64, has sold for $27.9 million, marking a new chapter for a property that was built just last year.

71. Vikings Owners Join Group Trying to Bring MLS to Nashville -

NASHVILLE, Tenn. (AP) – The majority owners of the Minnesota Vikings are joining a group trying to bring a Major League Soccer expansion franchise to Nashville.

Mark, Zygi and Leonard Wilf are minority owners in the Nashville project, according to Nashville Soccer Holdings CEO John R. Ingram. Terms of the Wilfs' investment haven't been disclosed.

72. Bartlett Shopping Center Sells for $1.4 Million -

A Bartlett retail center has switched hands in a multimillion-dollar deal.

Robinwood Commercial Center, located at 6722 U.S. 70 in Bartlett, was purchased by California-based Kirama Investment Group for $1.4 million, according to paperwork filed with the Shelby County Register.

73. Cordova Apartment Community Sells for $27.9M -

The Charleston, a 284-unit apartment community on the east side of Houston Levee Road just south of U.S. 64, has sold for $27.9 million, marking a new chapter for a property that was built just last year.

74. Qatar Airways Dropping Plan to Invest in American Airlines -

DALLAS (AP) – Qatar Airways says it is dropping an attempt to buy a big stake in American Airlines, an audacious bid that had received a chilly reception from American.

Qatar Airways said Wednesday that the investment no longer meets its objectives. American Airlines Group Inc. did not comment immediately.

75. Last Word: Kustoff at Rotary, Royal's Vibe and The Terms of MEMPOWER -

The investment group that renovated the Chisca resurfaced Tuesday evening with a plan for the Wonder Bread factory, vacant for the last four years. But don’t look for a return of the bread smell to the Edge area. And if you look at what has started to happen in that particular corridor since Wonder Bread shut down, the mixed-use plan has some precedent. Throw in the move to sell The Commercial Appeal property just a few blocks away and if the economy remains this good, the transformation in this area could be radical in another four years.

76. Bartlett Shopping Center Sells for $1.4 Million -

A Bartlett retail center has switched hands in a multimillion-dollar deal.

Robinwood Commercial Center, located at 6722 U.S. 70 in Bartlett, was purchased by California-based Kirama Investment Group for $1.4 million, according to paperwork filed with the Shelby County Register.

77. 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.

78. Last Word: The Old Auto Inspection Station, Beale Field Trip and Re-Democrating -

Memphis Mayor Willie Herenton has a different version of his 2016 plan to build two youth development centers for juvenile offenders to go to instead of detention at the Wilder Youth Development Center in Somerville. About a year ago, Herenton had tentative plans for two of the New Path centers in Shelby County that would be centers where the offenders could live.

79. Last Word: ICE Raids, Who's Buying Afton Grove and Malco Powerhouse Plans -

A protest Sunday evening at the Prescott Place Apartments after federal ICE agents – Immigration and Customs Enforcement – took people into custody there and at Emerald Ridge and Corner Park apartments Sunday morning. The group of organizations protesting the federal action – Memphis Coalition of Concerned Citizens, Cosecha and SURJ Memphis -- say Memphis Police assisted in the immigration operation. Memphis Police deny they were involved in any way. No estimate from ICE on how many people were detained.

80. 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.

81. Last Word: Closing the Door, Midtown Rents and Red West's Many Roles -

It didn’t take the Shelby County Commission very long Wednesday to close the door on its budget season – about 20 minutes in the day’s special meeting to approve a county property tax rate of $4.11 on third and final reading. That’s not a quick up or down vote. And it took just a bit longer because there is still some discussion about whether this was a reduction in the tax rate or a tax cut in the sense that a homeowner in Shelby County would understand the term.

82. Madison @ McLean Project Awarded 14-Year Tax Abatement -

Local multifamily development group Makowsky Ringel Greenberg has been awarded a 14-year tax abatement to construct a 132,477-square-foot, 108-unit apartment complex in Midtown Memphis.

Named Madison @ McLean after the eponymous Midtown intersection it will reside on, the $14 million project is the first ever recipient of a Residential PILOT (payment-in-lieu-of-taxes), incentive, which was created earlier this year by the Economic Development Growth Engine for Memphis and Shelby County.

83. 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...

84. 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.

85. 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.

86. 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

87. 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

88. Editorial: Building Broadband Access Tough, Necessary -

Tennessee should have a broadband network that can handle the pent-up demand we all have for this kind of access, whether we are rural, urban or suburban Tennesseans.

It’s an issue whose outcome should not recognize our “grand divisions” or any other borders. It’s also an issue that dovetails with the Federal Communications Commission’s recent steps to roll back net neutrality rules, regulations enacted in 2015 that require broadband providers to treat all website traffic equally.

89. $18.5 Million Permit Filed for Central Station Project -

In this week’s Real Estate Recap, developers pull an $18 million permit for the Central Station overhaul, another new Downtown hotel is in the works and the new Laurelwood bookstore gets a restaurant...

90. Resource Label Group Paved a Road From Lamar to New Bartlett Facility -

After more than 20 years at their facility near Lamar Avenue, Resource Label Group officials wanted to move to a bigger and better place.

After looking around Shelby County, they settled on Bartlett, largely due to the suburban town’s atmosphere and family nature.

91. EDGE Gives Frayser Gateway Project Nod -

With all of the new development buzzing around Downtown, Midtown and East Memphis, it could be easy to overlook the addition of a new grocery store, but for some Frayser residents, it could mean everything.

92. Medicaid Cuts Could Hit Rural Children Hardest -

As Congress fiddles with an Obamacare replacement, one likely to cut billions in Medicaid spending, health care experts warn a decrease in funding could be hard on Tennessee.

During a recent forum in Jackson, Andy Schneider of the Georgetown Center on Children and Families reported that 50 percent of Tennessee’s children in small towns and rural areas are covered by Medicaid, a higher percentage than the rest of the nation, and more than in Tennessee’s urban areas where 39 percent have Medicaid.

93. Verizon Takes Over Yahoo to Complete $4.5 Billion Deal -

SAN FRANCISCO (AP) – Verizon has taken over Yahoo, completing a $4.5 billion deal that will usher in a new management team to attempt to wring more advertising revenue from one of the internet's best-known brands.

94. Tennessee Brewery Developers Seek Incentives for Second Phase -

The developers of the Tennessee Brewery project are seeking a 20-year tax abatement to begin construction on phase two of their Downtown Memphis mixed-use development.

William Orgel, Jay Lindy and Adam Slovis, representing 495 TN Partners, have applied to the Center City Revenue Finance Corp. for a payment-in-lieu-of-taxes incentive to build an additional 130-unit, four-story building they estimate will cost around $12.3 million.

95. Tennessee Brewery Developers Seeking Tax Incentives for Second Phase -

The developers of the Tennessee Brewery Project have applied for a 20-year tax abatement with the Center City Revenue Finance Corporation to begin construction on phase two of their Downtown Memphis mixed-use development.

96. City Council Settles Budget, But Other Issues Remain -

The budget season at City Hall is over with the Tuesday, June 6, Memphis City Council vote approving a $680 million city operating budget, an $81.3 million capital budget and a $3.27 city property tax rate.

97. It's Primetime at Amazon.com ... Shares Hit $1,000 -

NEW YORK (AP) – Amazon, the internet goliath that revolutionized the way much of the world buys books, toilet paper and TVs, hit a new milestone Tuesday. Its stock surpassed the $1,000 mark for the first time.

98. Last Word: Halfway Point, The Cancer-Influenza Connection and Wade Baldwin's Way -

Monday was the day that Memphis Light Gas and Water Division reached the halfway point in restoring power. There were 90,384 customers without power Monday evening, compared to 188,000 without power at the outset Saturday evening at 11 p.m. There were 126 utility crews working by Monday evening.

99. US Durable Goods Orders Fell for First Time in 5 Months -

WASHINGTON (AP) – U.S. orders for long-lasting manufactured goods dropped in April for the first time in five months, and a key category that tracks business investment went nowhere for the second straight month.

100. Memphis-Based MAA Thriving As Demand for Rental Housing Grows -

Since it was founded by George Cates in 1977, real estate investment trust MAA has grown from an upstart local business into a S&P 500 company with more than 100,000 units and total market capitalization of $16 billion.