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Editorial Results (free)

1. 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.

2. Faropoint Buys 2 Properties After Trustmark Centre Sale -

Fresh off of the sale of Trustmark Centre, Faropoint Ventures has acquired two more substantial office assets.

The Israeli investment firm bought the Lipscomb & Pitts Building, 2670 Union Ave. Extended, and Poplar Towers, 6263 Poplar Ave., for a combined $19.3 million using capital from the Trustmark Centre sale. The purchase also includes the high-end restaurant Fleming’s, 6245 Poplar, and an AT&T store at 6267 Poplar, both outparcels to Poplar Towers.

3. 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.

4. 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.

5. 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.

6. Trustmark Centre Sells for Nearly $20M -

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

In the deal, Nashville-based Magnolia Capital Investments purchased the Trustmark Centre located at 5350 Poplar Ave. from Israeli investors, Farpoint Investments.

7. 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.

8. 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.

9. 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.

10. 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.

11. 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.

12. 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.

13. Fogelman Properties Adds Day As Senior VP of Investments -

Matthew Day has joined Fogelman Properties as senior vice president of investments. Day comes to the Memphis-based multifamily real estate services company with 15 years of investment experience and will spearhead its investment platform across the Southeast, Southwest and Midwest regions.

14. 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.

15. 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.

16. 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.

17. 2 Cooper St. Projects In Midtown Seek Incentives -

Two separate Midtown projects, both located on Cooper Street, are seeking 11-year tax abatements from the Downtown Memphis Commission’s Center City Revenue Finance Corp. board.

18. Two Midtown Projects Apply for Tax Incentives -

Two separate Midtown projects, both located on Cooper Street, are seeking 11-year tax abatements from the Downtown Memphis Commission’s Center City Revenue Finance Corp. board.

The first project, located at 663 and 673 Cooper St., is an office/residential mixed-use development submitted by filament LLC, the development wing of local architectural firm, archimania.

19. 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.

20. 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.

21. High-Def Experience Awaits Grizzlies, Tigers Fans -

The Memphis Grizzlies recently held a small reception at FedExForum to show off improvements, and the biggest one – literally – was a new video board hanging over the court that offers four times the amount of display space as the previous scoreboard.

22. GPAC Planning New Open-Air Venue -

1801 Exeter Road, Germantown, TN 38138

Owner: Germantown Performing Arts Center

23. 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.

24. 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.

25. Germantown Medical Office Sells for $16M -

1325 Wolf Park Drive, Germantown, TN 38138

Sale Amount: $15.9 million

Buyer: Global Medical REIT

26. MAA Moves Forward With New Headquarters -

Memphis-based real estate investment trust MAA is moving forward with its corporate relocation to Germantown’s TraVure development.

The apartment-only REIT pulled a $7 million building permit with construction code officials to build out the fourth and fifth floors. It lists Grinder, Taber & Grinder as the contractor, developer Gill Properties as the owner and MAA as the tenant.

27. 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.

28. 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.

29. 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.

30. 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.

31. MAA Moving Forward With New HQ -

Memphis-based real estate investment trust MAA is moving forward with its corporate relocation to Germantown’s TraVure development by seeking a $7 million building permit to build out the fourth and fifth floors.

32. Kemmons Wilson Co. Subsidiary to Merge with International Hotel Developer -

Wilson Hotel Management, a subsidiary of Kemmons Wilson Co., will merge with Valor Hospitality Partners, an international hotel developer with headquarters in Atlanta, Georgia, and London, England. And the new company's headquarters will be in Atlanta and London with an office in Memphis.

33. Memphis Heritage Catalogs Historic Local Properties -

Memphis Heritage has announced the completion of a comprehensive catalog book, three years in the making, of all the historic properties in the city of Memphis and Shelby County that are listed in the National Park Service’s National Register of Historic Places.

34. 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.

35. 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.

36. 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.

37. 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.

38. 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.

39. First Alliance Bank Inks 10-Year Lease to Move to Clark Tower -

Memphis-based First Alliance Bank has signed a 10-year lease to relocate its Poplar Avenue branch into the recently remodeled Clark Tower office building.


5100 Poplar Ave.
Memphis, TN 38137

40. First Alliance Bank Moving to Clark Tower -

Memphis-based First Alliance Bank has signed a 10-year lease to relocate its Poplar Avenue branch into a new facility inside the recently remodeled Clark Tower office building.

The new 3,920 office will be located adjacent to Clark Tower’s lobby, and will offer full banking services and a drive-through facility.

41. Last Word: Gentrification, ServiceMaster's New CEO Speaks and Gateway Resolution -

Gentrification in Binghampton? The g-word is a term that can start a real debate in Memphis these days. But those leading the hard fought redevelopment in Binghampton say a tax increment financing district there would mean an immediate capital infusion of $332,000 that would help to ward off the possibility of gentrification.

42. Binghampton, Uptown Redevelopment Efforts Move Forward While Waiting for the CRA -

If Binghampton can get a proposal for tax increment financing (TIF) approved by the end of the year, it would mean an immediate $332,000 in capital and an estimated $26 million over the 30-year life of the TIF zone to sustain and further grow commercial and residential development in the area.

43. 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.

44. 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.

45. 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.

46. 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...

47. 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.

48. 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.

49. 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

50. 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

51. Bruster’s Ice Cream To Open on Highland Strip -

The Highland Strip will soon be home to a tasty new tenant.

Bruster’s Real Ice Cream plans to move into the 1,300-square-foot space at 571 Highland St., with construction set to begin soon and an expected opening date late this year, according to Loeb Properties Inc.

52. Jernigan Capital Hits Investment Milestones -

Jernigan Capital – a publicly traded, Memphis-based provider of capital to self-storage entrepreneurs – is on a tear at the moment.

The company in recent days has closed three new self-storage development investment commitments totaling almost $50 million, including a co-investment of $26.5 million for a proposed 1,424-unit facility in Manhattan. The other investments are for facilities in Knoxville and in the Boston metro area, and construction on all three facilities is set to be finished by the end of second quarter 2018.

53. Bruster’s Highlights Highland Strip Growth -

When a small record shop called Pop-I’s opened in late 1960s, it helped spark the transformation of a mundane neighborhood shopping center near the University of Memphis into a popular entertainment destination for students.

54. Spike in Home Sales Could be the Spark Frayser Needs -

By almost all accounts the Memphis housing market is firing on all cylinders almost everywhere, but for some neighborhoods hit hardest during the housing crisis like Frayser, the rebuilding process has been slow.

55. Winds of Change -

Humans have been harnessing the power of the wind since the first Egyptians began to use sails to move their boats along the Nile. More than 7,000 years later, wind power capacity in the U.S. alone has surpassed 82 gigawatts, or enough energy to power 20 million homes, making it the largest renewable generation capacity in the country.

56. 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.

57. 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.

58. Last Word: Sessions Notes, Lakeland Elects and Golf Classic Turns 60 -

U.S. Attorney General Jeff Sessions doesn’t stick with the script he has when he makes a speech, like the one he gave Thursday at the federal building to a room full of federal prosecutors and local and state law enforcement. Some of that comes from his background as a former U.S. Attorney and Alabama’s Attorney General, not to mention his tenure as a U.S. senator.

59. 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...

60. Philadelphia Investor Buys Memphis Portfolio for $6M -

Philadelphia-based real estate investment firm Odin Properties, doing business as Medley Apartments, has purchased four multifamily properties from Asia Capital Real Estate for a combined $6 million, according to paperwork filed with the Shelby County Register of Deeds.

61. Last Word: Deeper on Beale, End of Session and Johnny Mathis -

Beale Street keeps its cover charge on Saturday nights during its Memphis In May peak. But the district has some complex questions to resolve about its future and who controls that future. If that wasn’t evident before, it became apparent at City Hall Tuesday. It wasn’t the council action on the Beale Street Bucks program that was significant as much as it was the council’s discussion.

62. 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

63. 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.

64. 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. 

65. Initiatives Geared at Boosting Owner-Occupied Housing -

Nearly a third of all homes in Shelby County are owned by investors, a fact which has state and city leaders looking for ways to stem the tide and encourage locals to buy into their communities through owner-occupied homeownership.

66. Shops of Wolflake Near Wolfchase Sells for $4.8M -

2965 N. Germantown Parkway
Bartlett, TN 38133 

Sale Amount: $5 million

Sale Date: March 31

Buyer: WFL Retail LLC

67. Rental Homes Encroaching on Housing Market -

Based on an analysis of all home sales recorded in Memphis and Shelby County last year, 25 percent of purchases were made by investors. Of these sales, 42 percent were purchased by out-of-town owners, where the tax bill is mailed to an address outside of Shelby County.

68. Binghampton Gateway Builds on Decade of Momentum -

While construction recently began on the large-scale Binghampton Gateway Center and more development is on the way, the revitalization process to bring businesses and jobs back to the distressed Binghampton area began more than a decade ago.

69. Hickory Hill Home Depot Site Sells for $15 Million -

3469 Riverdale Road
Memphis, TN 38115 

Sale Amount: $15.7 million

Sale Date: March 3, 2017

Buyer: Spirit Realty Capital

70. Hickory Hill Home Depot Site Sells for $15 Million -

A Dallas, Texas-based real estate investment trust has purchased a large parcel of land where a Home Depot is located in Hickory Hill for $15.7 million.

Spirit Realty Capital, doing business as Spirit Master Funding X LLC, bought the property from Allied Development of Memphis, according to a March 3 warranty deed filed with the Shelby County Register of Deeds. Mehrdad Mottahedeh signed the deed on behalf of Allied Development.

71. Hickory Hill Home Depot Site Sells for $15 Million -

A Dallas, Texas-based real estate investment trust has purchased a large parcel of land where a Home Depot is located in Hickory Hill for $15.7 million.

Spirit Realty Capital, doing business as Spirit Master Funding X LLC, bought the property from Allied Development of Memphis, according to a March 3 warranty deed filed with the Shelby County Register of Deeds. Mehrdad Mottahedeh signed the deed on behalf of Allied Development.

72. $12 Million Permit Filed For Hickman Building -

240 Madison Ave.
Memphis, TN 38103

Permit Amount: $12 million

Project Cost: $16 million

Application Date: February 2016

73. $12 Million Permit Filed for Hickman Building -

Montgomery Martin Contractors has filed a $12 million building permit application with the city-county Office of Construction Code Enforcement to renovate the historic Hickman Building into a mixed-use development that will include the new headquarters of Memphis-based investment firm, SouthernSun Asset Management.

74. $12M Building Permit Pulled for Hickman Building -

Montgomery Martin Contractors has filed a $12 million building permit application with the city-county Office of Construction Code Enforcement to renovate the historic Hickman Building into a mixed-use development that will include the new headquarters of Memphis-based investment firm, SouthernSun Asset Management.

75. SouthernSun Converting Historic Downtown Building to New HQ -

SouthernSun Asset Management is preparing to convert part of a historic but long-vacant Downtown building into its new headquarters.

The $16 million project seeks to turn the nine-story Hickman Building, 240 Madison Ave., into a mixed-use project that houses the Memphis-based investment firm's headquarters as well as 40 apartments, 5,000 square feet of street-level retail and a connected parking structure.

76. SouthernSun Converting Historic Downtown Building to New HQ -

SouthernSun Asset Management is preparing to convert a historic but long-vacant Downtown building into its new headquarters.

The Memphis-based investment management firm plans to invest around $16 million to turn the nine-story Hickman Building, 240 Madison Ave., into a mixed-use project that houses its headquarters as well as 40 apartments, 5,000 square feet of street-level retail and a connected parking structure.

77. SouthernSun Converting Historic Downtown Building to New HQ -

SouthernSun Asset Management is preparing to convert a historic but long-vacant Downtown building into its new headquarters.

The Memphis-based investment management firm plans to invest around $16 million to turn the nine-story Hickman Building, 240 Madison Ave., into a mixed-use project that houses its headquarters as well as 40 apartments, 5,000 square feet of street-level retail and a connected parking structure.

78. SouthernSun Converting Historic Downtown Building to New HQ -

SouthernSun Asset Management is preparing to convert a historic but long-vacant Downtown building into its new headquarters.

The Memphis-based investment management firm plans to invest around $16 million to turn the nine-story Hickman Building, 240 Madison Ave., into a mixed-use project that houses its headquarters as well as 40 apartments, 5,000 square feet of street-level retail and a connected parking structure.

79. SouthernSun Converting Historic Downtown Building to New HQ -

SouthernSun Asset Management is preparing to convert a historic but long-vacant Downtown building into its new headquarters.

The Memphis-based investment management firm plans to invest around $16 million to turn the nine-story Hickman Building, 240 Madison Ave., into a mixed-use project that houses its headquarters as well as 40 apartments, 5,000 square feet of street-level retail and a connected parking structure.

80. Cities, Developers Reaping Rewards of Mixed-Use Shift -

Commercial real estate is shifting to mixed-use developments designed to create a sense of place for homeowners longing for the community of days gone by, and the trend is profiting many parties as commercial developers see stronger returns and cities undergo revitalization in their core.

81. Mid-South Mayors’ Council Announces Lineup for RegionSmart Summit -

The Mid-South Mayors’ Council, an initiative of Urban Land Institute Memphis, has release the lineup for its second annual RegionSmart summit, which will be held at the Halloran Centre for Performing Arts & Education on Thursday, April 27.

82. Mid-South Mayors’ Council Announces Lineup for RegionSmart Summit -

The Mid-South Mayors’ Council, an initiative of Urban Land Institute Memphis, has release the lineup for its second annual RegionSmart summit, which will be held at the Halloran Centre for Performing Arts & Education on Thursday, April 27.

83. Last Word: Wessman Trouble, Selling 495 Union and An Underground Film Icon -

When Wessman Development came to town last year with the idea of a boutique hotel, the Palm Springs, California company was part of the flood of smaller hotel projects Memphis was seeing and is still seeing. Then the company added another hotel and just this month the redevelopment of a building on Madison west of Second Street as apartments with retail on the ground floor. In a very short period of time, Wessman has had a lot of plans for Memphis.

84. Luxury Apartments Begin $17 Million Expansion -

3333 Hacks Cross Road, Memphis, TN 38125: Fieldstone Apartment Homes, a gated community in southeast Memphis, is in the process of another massive expansion.

Permit Amount: $9.7 million (combined)

85. Archived Article -

3333 Hacks Cross Road

Memphis, TN 38125

Permit Amount: $9.7 million (combined)

Project Cost: $17 million

86. MAAR Commercial Council Hosting Forecast Summit -

The Memphis Area Association of Realtors’ Commercial Council will host its 15th annual Commercial Property Forecast Summit on Thursday, Feb. 16, at the Halloran Centre for the Performing Arts & Education, 225 S. Main St.

87. Midtown High-Rise Sells For $2.3 Million -

A Central Gardens high-rise apartment switched hands for a cool $2.3 million, according to commercial real estate investment sales, financing, research and advisory company Marcus & Millichap, which brokered the deal.

88. MAAR’s Commercial Council Hosts Property Forecast Summit -

The Memphis Area Association of Realtors’ Commercial Council will host its 15th annual Commercial Property Forecast Summit on Thursday, Feb. 16, at the Halloran Centre for the Performing Arts & Education, 225 S. Main St.

89. Midtown High-Rise Sells For $2.3 Million -

A Central Gardens high-rise apartment switched hands for a cool $2.3 million, according to Marcus & Millichap, the commercial real estate investment sales, financing, research and advisory company that brokered the deal.

90. Events -

The second We Mean Business Symposium, hosted by the City of Memphis Office of Business Diversity and Compliance, will be held Wednesday, Feb. 8, from 8 a.m. to 3:30 p.m. at the Tower Center at Clark Tower, 5100 Poplar Ave., 33rd floor. The primary focus is to share upcoming city bid opportunities for small and minority-owned businesses. Companies also will learn about the certification and registration process and how to leverage the city’s diversity programs. The first J.E. Walker Breaking Barriers Awards Luncheon will follow. Cost is free; RSVP required. Register at eventbrite.com.

91. Expanded Uptown TIF May Offer Needed Relief for Blighted Areas -

The announcement of last week’s blockbuster proposal to expand the Uptown Tax Increment Financing area and extend the applications of Downtown’s Tourism Development Zone may have been headlined by the reimagined convention center and multibillion-dollar improvements to the area’s medical facilities, but some of the most significant changes may end up occurring at the neighborhood level.

92. Nordstrom Rack Files $1.5M Permit for Memphis Store -

4572 Poplar Ave.

Memphis, TN 38117

Permit Amount: $1.5 million

Project Cost: $25.2 million

Application Date: December 2016

93. Germantown Park Offices Sell for Nearly $48 Million -

A large office park near the intersection of Germantown Parkway and Walnut Grove Road in Cordova has been sold for nearly $50 million.

New York-based DRA Advisors LLC, acting as DRA CRT Germantown Center LP, sold six parcels to Real Capital Solutions, acting as EAT-1615 LLC, for $47.8 million.

94. Germantown Park Offices Sell for Nearly $48 Million -

A large office park near the intersection of Germantown Parkway and Walnut Grove Road in Cordova has been sold for nearly $48 million.

New York-based DRA Advisors LLC, acting as DRA CRT Germantown Center LP, sold six parcels to Real Capital Solutions, acting as EAT-1615 LLC, for $47.8 million.

95. Midtown Retail Property Sells for $5 Million -

1625 Poplar Avenue

Memphis, TN 38104 

Sale Amount: $5 million

Sale Date: Dec. 21, 2016

96. 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.

97. Cordova’s Future LA Fitness Site Sells for $2.4M -

LA Fitness is one step closer to opening a Cordova location.

Insomnia Inc., the company owned by former topless-club operator Steve Cooper, sold two parcels near its former restaurant/nightclub on Fischer Steel Road to Orlando, Florida-based National Retail Properties Inc. for $2.4 million, according to a Dec. 20 warranty deed. The same day as the sale, Fitness International LLC, an affiliate of L.A. Fitness International LLC, signed a lease with National Retail Properties for the property.

98. Developer Buys Former Merle Norman Warehouse -

3670 S. Perkins Road

Memphis, TN 38118

Sale Amount: $1.3 million

Sale Date: December 2016

Buyer: Farnsworth Investment Co.

99. Village Shops of Forest Hill Sells for $37.1 Million -

A 360,000-square-foot commercial retail center in Germantown recently was purchased by Epic Real Estate Partners acting as EREP Forest Hill I LLC for $37.1 million.

100. December 16-22, 2016: This week in Memphis history -

2015: A record high temperature of 70 degrees at Memphis, according to the National Weather Service. The 70-degree mark ties a record for the date set in 1982.

2011: On the front page of The Daily News, the Memphis City Council approves a planned development for the south side of Madison Avenue in Overton Square, including a new $16 million public parking garage to be built by the city. The garage is eligible for public funding because it is to include a water detention basin in its base that alleviates a chronic flooding problem in the area, which includes Lick Creek. Loeb Properties Inc. has a contract with the Colorado company that owns the entertainment district and the contract runs out at the end of 2011. A Loeb plan to make a supermarket the anchor of a revitalized square has fallen through and Loeb is now envisioning Overton Square as a theater district with a $19.2 million investment by Loeb in the area.