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Editorial Results (free)

1. Bank Building Set To Become Boutique Hotel -

158 Madison Ave.
Memphis, TN 38103

Sale Amount: $1.1 million

Sale Date: June 13, 2016

Buyer: Wessman Holdings

2. New Center to Capitalize on Strong Retail Demand -

The shopping center at 6450 Poplar Ave. is fully constructed with tenants opening as soon as next month.

3. Madison Hotel Sells to Chicago-Based Hotel Group -

79 Madison Ave.

Memphis, TN 38103

Sale Date: June 21 

Buyer: 79 Madison Avenue LLC

4. Chamber Names Simmons Director of Public Policy -

Haley Simmons has joined the Greater Memphis Chamber as the director of public policy, a new position in the chamber’s community development department. In this role, Simmons will be focused on enhancing the chamber’s advocacy efforts to inform and engage its members on important policy issues, and he’ll also be responsible for growing the chamber’s role in education initiatives.

5. Nordstrom Rack-Anchored Center Gets $15.5M Construction -

4572 Poplar Ave.
Memphis, TN 38117

Permit Amount: $10.5 million

Project Cost: $15.5 million

Completion: Fall 2017

6. MAA Still Entertaining Headquarters Options -

Memphis-based MAA is a year into its search for a new headquarters, and the company is moving closer to plans for a newly constructed building.

The real estate investment trust, which focuses on multifamily properties, first announced the move last summer. MAA is currently housed in nearly 43,000 square feet at 6584 Poplar Ave. in East Memphis. It is looking for an 80,000-square-foot space, with room to grow, to house its 200 local employees.

7. Available Class-A Office Space Scarce in Memphis -

ServiceMaster is looking to relocate its headquarters into a Class A office building, and Memphis just doesn’t have room.

“For the past two years, we’ve been using those phrases,” said Ron Kastner, senior vice president with CBRE.

8. Global Ministries Continues to Take More Heat -

The receiver for the Warren and Tulane Apartments is in place with the notice filed in Memphis federal court last week that Foresite Realty Management LLC had accepted the job and that its bonding is in place.

9. One Family -

An unprecedented private investment aims to restore a commercial heart to the Soulsville USA neighborhood, where a pair of sprawling buildings take up nearly a full block across from the Stax Museum of American Soul Music. It isn’t an eyesore, but inactivity within those walls has been a drag on the community.

10. Court Appoints Receiver for Warren, Tulane Apartments -

The Tulane and Warren apartments are under the control of a court-appointed receiver.

U.S. District Judge Jon P. McCalla appointed Foresite Realty Management LLC of Rosemont, Ill., as the receiver of the two properties Tuesday, May 17, by a consent order.

11. Receiver Appointed for Warren and Tulane Apartments -

The Tulane and Warren Apartments are under the control of a court-appointed receiver.

U.S. District Judge Jon P. McCalla appointed Foresite Realty Management LLC of Rosemont, Illinois as the receiver of the two properties Tuesday, May 17, by a consent order.

12. Memphis Remains a Hot Market for Investors -

Local rental housing continues to be a popular buy for real estate investors. In the first quarter of 2016, 1,017 rental homes were purchased in Memphis and Shelby County, accounting for 30 percent of all home sales, according to data from Chandler Reports, a division of The Daily News Publishing Co.

13. Memphis MSA Industrial Sector Has A Strong First Quarter After Record 2015 -

The Memphis MSA industrial sector had a strong first quarter after a record-breaking year in 2015.

Last year saw a record absorption rate of 8.4 million square feet, which is 2 million square feet higher than 2006’s pre-recession levels.

14. Last Word: Budget-Mania, TNReady's Backstory and Slow Down Millenial Investors -

The Overton Park Greensward controversy moves back to City Hall Tuesday as the council talks over an ordinance that sets further in stone the council’s decision in March to give the Memphis Zoo control of two-thirds of the greensward.

15. RegionSmart Details How to Prevent Erosion of Talent, Population -

During his three terms as mayor of Pittsburgh, Tom Murphy had to assume a great deal of risk in transforming the city’s economy from an industrial to an entrepreneurial base.

16. Before Successes, Loeb Started from Zero – Twice -

Barreling down Madison Avenue in a black corduroy blazer and a pert, pink pocket square, Bob Loeb seems distracted. Then I realize: he’s editing. Move that tree, put a mural there. Tear that down, build that up.

17. Moving Dirt -

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

18. United Housing Gets $1.1M Boost From Banks -

United Housing Inc. has gotten a boost from area financial institutions in recent days to the tune of $1.1 million.

19. ALSAC Buys Warehouse For $6 Million -

483 Manassas St.
Memphis, TN 38105

Sale Amount: $6 million

Sale Date: March 17, 2016

Buyer: ALSAC

Seller: Michael Nussbaum and Joyce Nussbaum

20. Cleaning House -

Every neighborhood in Memphis and Shelby County has the right to be free from the negative effects of vacant, abandoned and blighted properties. That’s the battle cry of the Memphis Blight Elimination Charter, a 23-page pledge that will steer policy and programs dedicated to blight eradication.

21. Roadmap to Attacking Blight Awaits City and County Approval -

Blighted properties, overgrown lots and abandoned buildings are not unique to Memphis. But Memphis is the only city with a blight elimination charter that affirms cross-sector commitment to uproot the causes of blight and prevent further decline.

22. Blight Fight Touts New Pathway, Partnerships -

The local effort to fight blight has been in recent years a machete-like action to cut through bureaucratic red tape and get possession of the most blighted properties.

So there have been a lot of press conferences where bulldozers are featured prominently to demolish the targeted property.

23. Ulta to Join Nordstrom Rack in Poplar Commons Retail Center -

Ulta Beauty will be a neighbor of Nordstrom Rack in the upcoming Poplar Commons shopping center, set to open in the fall of 2017.

This will be the third Ulta store in the Memphis market and the first in the East Memphis submarket.

24. Nordstrom Will Lure More Class A Retailers to Memphis -

Nordstrom Rack is just the tip of the Class A iceberg. At least three more best-in-class retailers are headed for the newly-built East Memphis shopping center, and the fate of the Wolfchase Galleria Sears is to be decided.

25. Best-in-Class Retailers to Join Nordstrom Rack in East Memphis -

Nordstrom Rack is just the tip of the Class A iceberg. At least three more best-in-class retailers are headed for the newly built East Memphis shopping center, and the fate of the Wolfchase Galleria Sears is to be decided.

26. Numbers Show Memphis’ Commercial Real Estate Market Stable in 2015 -

Across all sectors, the Memphis market was stable in 2015.

That’s according to the latest data from Integra Realty Resources, a national appraisal and advisory firm. At its annual Viewpoint local market presentation Wednesday, Feb. 24, local Integra leaders spoke on the industrial sector’s banner year, multifamily’s expansion cycle, what’s next for an office market without any remaining Class A space, and growth in the retail sector.

27. Fogelman Management Group Adds 2,200 Apartment Units -

Fogelman Management Group, a Memphis-based property management and investment group, has added 2,200 apartment units across eight properties to its portfolio.

The newly managed buildings in Florida, Texas and Georgia bring Fogelman Management Group’s portfolio to 21,000 units valued at $2 billion. Those properties are located in 25 cities in the Southeast, Southwest and Midwest.

28. Orleans at Walnut Grove Sells for $29.2 Million -

317 Royal Chartres Square E.
Cordova, TN 38018

Sale Amount: $29.2 million

Sale Date: Feb. 4, 2016

Buyer: PC Orleans LLC

29. New Numbers: Memphis Industrial Market Breaks Records -

The Memphis industrial sector had a banner year in 2015. According to year-end data from Cushman & Wakefield/Commercial Advisors, last year’s absorption level came in at 8.4 million square feet, 2 million square feet higher than 2006’s pre-recession levels and a record for the market.

30. Cates Wants Detail on Downtown Agreements -

From Mud Island River Park across the Memphis harbor to The Pyramid and further east to St. Jude Children’s Research Hospital – there are a lot of connections as the areas head toward a new incarnation.

31. Collaborative Aims to Enhance Memphis Medical District -

In 2016, the Memphis Medical Center will see $1.8 million in upgrades and enhancements aimed at creating a unified, livable district. That’s the annual budget for the newly established Medical District Collaborative, a nonprofit entity made up of the area’s stakeholders and executives.

32. Save-A-Lot to Anchor New Sam Cooper Shopping Center -

Southeast Corner of Sam Cooper
Boulevard and Tillman Street
Memphis, TN 38104

Tenant: Save-A-Lot

Size: 16,300 square feet

Tenant’s Agent: Frank Dyer, Loeb Realty Group

33. ProLogis Sells 90M Square Feet of Property -

ProLogis has unloaded nearly 90 million square feet of its industrial holdings in six separate deals.

ProLogis, working under a number of affiliated names, sold multiple properties – including two warehouses housing Cummins Inc.’s distributions operations – to Exeter Property Group, according to warranty deeds signed Dec. 29. They include:

34. ProLogis Sells 90 Million Square Feet of Property -

ProLogis has unloaded nearly 90 million square feet of its industrial holdings in six separate deals.

ProLogis, working under a number of affiliated names, sold multiple properties – including two warehouses housing Cummins Inc.’s distributions operations – to Exeter Property Group, according to warranty deeds signed Dec. 29. They include:

35. Belz Sells Linden Camilla Towers for $14.4 Million -

256 S. Camilla Street
Memphis, TN 38104

Sale Amount: $14.4 million

Sale Date: Dec. 6, 2015

36. 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.

37. Blight Authority of Memphis Convenes to Tackle Problem Properties -

“This is historic,” attorney Steve Barlow said at the inaugural meeting of the Blight Authority of Memphis, held Thursday, Jan. 21, at the Downtown Memphis Commission’s office.

38. Exeter Property Group Transfers 13 Properties -

Exeter Property Group has sold 13 Memphis industrial properties for a combined $143.3 million – all part of the massive deal in which Exeter sold its U.S. industrial portfolio for $3.2 billion.

39. Olymbec Compiling Airport-Area Office Park -

Olymbec USA LLC is gaining critical mass near Memphis International Airport with the planned purchase of a 133,600-square-foot office building at 2600 Nonconnah Blvd.

40. Exeter Property Group Transfers 13 Properties -

Exeter Property Group has sold 13 Memphis industrial properties for a combined $143.3 million – all part of the massive deal in which Exeter sold its U.S. industrial portfolio for $3.2 billion.

41. CCRFC Approves $1.7M For Convention Center Work -

The Center City Revenue Finance Corp. approved up to $1.7 million in revenue bonds Tuesday, Jan. 12, for Memphis Cook Convention Center improvements.

42. First Building Permit Pulled For Crosstown Concourse Build-Out -

495 N. Watkins St.
Memphis, TN 38104

Permit Amount: $15.6 million

Application Date: January 2016

43. Outside the Box -

Southwest Tennessee Community College is opening its new Whitehaven Center on Tuesday, Jan. 19. The building, which accommodates nearly 2,000 students at 1234 Finley Road off Elvis Presley Boulevard, is seeing new life following its run as a Kroger store that closed in 2011.

44. CCRFC Approves $1.7M For Convention Center Work -

The Center City Revenue Finance Corp. approved up to $1.7 million in revenue bonds Tuesday, Jan. 12, for Memphis Cook Convention Center improvements.

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

601 Wolf River Blvd.
Collierville, TN 38017

Sale Amount: $17 million

Sale Date: Dec. 29, 2015

46. Last Word: El Chapo and Memphis, First Filers for August and Origins in Graffiti -

The Mississippi River at Memphis crested and then it rained.
The weekend rain added about two-tenths of an inch by Saturday to Friday’s crest.
But by Sunday, the river had dropped to 39.12 feet, which is still more than five feet above flood stage.

47. Shelby County Tax Property Sale Features Two Firsts -

When the Shelby County Trustee’s office puts a set of tax delinquent properties up for auction Jan. 19-21, it will be a first in several ways.

The auction will be the first such sale in Tennessee online and it will be the first tax sale with shorter redemption periods for some of the property, depending on how far behind the original owner is on their property taxes.

48. Pilot Distribution Center Sells for $11.9 Million -

The 605,000-square-foot Pilot Distribution Center in Southeast Memphis has sold for $11.9 million.

Sealy Strategic Equity Partners LP, working as Sealy Pilot LLC, purchased the industrial warehouse at 4221 Pilot Drive from Pilot Distribution Center Inc. on Dec. 22, according to a warranty deed.

49. Pilot Distribution Center Sells for $11.9 Million -

The 605,000-square-foot Pilot Distribution Center in Southeast Memphis has sold for $11.9 million.

Sealy Strategic Equity Partners LP, working as Sealy Pilot LLC, purchased the industrial warehouse at 4221 Pilot Drive from Pilot Distribution Center Inc. on Dec. 22, according to a warranty deed.

50. Mall of Memphis Property Bought by Trucking Company -

113-Acre Former
Mall of Memphis Site
Sale Amount: $3.9 million

Sale Date: Dec. 29, 2015
Buyer: TAG Real Estate Holdings LLC
Seller: Memphis Industrial Properties LLC (Johnson Development Associates Inc.)
Loan Amount: $23 million
Loan Date: Dec. 29, 2015
Lender: Mercedes-Benz Financial Services USA LLC
Details: The 113-acre former Mall of Memphis property has a new owner. TAG Real Estate Holdings, an affiliate of Memphis-based TAG Truck Enterprises LLC, paid $3.9 million, or $34,513 an acre, to buy the property from Johnson Development Associates Inc., acting as Memphis Industrial Properties LLC.

51. Makowsky Ringel Greenberg Buys 8 Acres Near Broad Avenue -

The bids have been opened. Memphis-based multifamily housing manager and developer Makowsky Ringel Greenberg won the eight acres of vacant Sam Cooper right-of-way announced for sale early last month.

52. Habitat for Humanity to Build 21-Home Community in Uptown -

The open field between Third and Seventh streets, south of Cedar Avenue in north Memphis, is surrounded by homes – some that have seen better days and others that are newly built.

Now after more than a decade of building homes on scattered sites one or two at a time, the local Habitat for Humanity chapter this summer will build its first Uptown subdivision. And the community will take the name of a section of North Memphis remembered by long-time residents.

53. Hamlet Offers Plan For Global Ministries Foundation's Inner-City Apartments -

Global Ministries Foundation founder Richard Hamlet has a multi-million dollar recapitalization plan to make extensive renovations at three inner-city apartment complexes his company owns.

54. Urban Planning Practice Shows How Design Can Combat Crime -

What if, instead of piling on security guards and higher fences, developers combatted crime through design?

That’s the theory behind Crime Prevention through Environmental Design, an urban planning practice that studies how the built environment impacts social behavior.

55. LEDIC to Open New Headquarters in East Memphis -

LEDIC, a Memphis-based manager, owner and developer of multifamily properties around the country, is building a new $10.2 million state-of-the-art headquarters facility in Memphis.

The company will create 300 new Tennessee jobs in the process, LEDIC announced Wednesday, Nov. 11. About 100 of the new jobs will be based at the new national headquarters at 555 S. Perkins Rd. The remaining 200, which include management, construction, maintenance and leasing positions, will be distributed throughout the state.

56. Summit Distribution Center Sells for $21.6 Million -

5155 U.S. 78
Memphis, TN 38118

Sale Amount: $21.6 million

Sale Date: Oct. 21, 2015

Buyer: Summit I Distribution Center LLC

57. State Systems Inc. Buys New HQ -

One of the Economic Development Growth Engine’s latest payment-in-lieu-of-taxes recipients is expanding its market footprint and real estate holdings with the recent purchase of seven Memphis properties.

58. Trinity Ridge Business Center Sells for $16M -

7730, 7740, 7750, 7760, 7866 Trinity Road
Cordova, TN 38018
Sale Amount: $16 million

59. Developer Long on Downtown Memphis, Short on Specifics -

Three Downtown properties are now owned by an Atlanta-based affiliate of an Australian real estate investment and development company, which is giving little in the way of clues about its Memphis plans.

60. Boyle Buys Vining Sparks HQ For $16.3M -

776 Ridge Lake Boulevard
Memphis, TN 38120

Sale Amount: $16.3 million

Sale Date: Oct. 15

61. Boyle Buys Ridgeway Center Office Building -

Boyle Investment Co. has purchased the Vining Sparks headquarters building in East Memphis.

The Memphis-based real estate development company bought the 120,000-square-foot structure at 775 Ridge Lake Boulevard for $16.3 million.

62. Boyle Buys Ridgeway Center Office Building -

Boyle Investment Co. has purchased the Vining Sparks headquarters building in East Memphis.

The Memphis-based real estate development company bought the 120,000-square-foot structure at 775 Ridge Lake Boulevard for $16.3 million.

63. Boyle Buys Ridgeway Center Office Building -

Boyle Investment Co. has purchased the Vining Sparks headquarters building in East Memphis.

The Memphis-based real estate development company bought the 120,000-square-foot structure at 775 Ridge Lake Boulevard for $16.3 million.

64. Belz Sells Champion Hills Office Building for $7.8M -

3725 Champion Hills Drive
Memphis, TN 38125
Sale Amount: $7.8 million

Sale Date: Oct. 8, 2015
Buyer: Champion Hills Realty Holdings LLC
Seller: Belz Investco GP
Loan Amount: $5.5 million
Loan Date: Oct. 5, 2015
Lender: C-III Commercial Mortgage LLC
Details: Belz Enterprises made another big real estate deal on the tail of its recent announcement to redevelop the corner of McLean Boulevard and Union Avenue into a mixed-use development.

65. Two Warehouses Acquired in Major National Deal -

Denver-based Northstar Commercial Partners, a privately held commercial real estate investment company, purchased two warehouse storage facilities in south Memphis for $5.2 million, according to a special warranty deed signed Sept. 29.

66. Two Warehouses Acquired In Major National Deal -

Denver-based Northstar Commercial Partners, a privately held commercial real estate investment company, purchased two warehouse storage facilities in south Memphis for $5.2 million, according to a special warranty deed signed Sept. 29.

67. Former Highwoods COO Retires, Then Promptly Starts New Career in Memphis -

Mike Harris’ idea of retirement doesn’t involve the golf course, free time or carefree travel.

68. Commercial Real Estate Veteran Joins Butler Snow as Principal -

A former Highwoods Properties Inc. executive has joined the Memphis office of Butler Snow Advisory Services.

69. Overton Square’s Future Tenants Could Be Residents -

With Overton Square reaching 100 percent occupancy, there’s nowhere else for the entertainment district to go but up. Loeb Properties currently is looking at possibly adding two multistory mixed-use buildings to complement the bustling arts and nightlife scene.

70. Ikea Construction On Hold in Property Tax Dispute -

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

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

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

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

72. Highland Row Developer Seeks Permit for Parking Garage -

Highland Row
Parking Garage
Permit Amount: $5 million

Application Date: September 2015
Completion: Late summer 2016
Owner: Poag Shopping Centers LLC
Architect: Looney Ricks Kiss
Contractor: Milhaus Development LLC
Details: Indianapolis-based developer Milhaus Development LLC and Memphis-based Poag Shopping Centers LLC have pulled a $5 million building permit as they continue developing the new Highland Row urban infill development.

73. Ikea Construction On Hold In Property Tax Dispute -

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

74. New Tax Incentive Aims to Boost Declining Memphis Neighborhoods -

Just north of Interstate 40, the commercially empty gateways to the Frayser neighborhood between North Hollywood Street and North Watkins Street are hardly fit to accommodate the thousands of vehicles that pass by every day.

75. $83.6 Million Rental-Home Deeds Filed With County Register -

Deeds related to New York-based Cerberus Capital Management’s purchase of more than 1,000 rental homes in Shelby County have been filed with the county Register’s Office.

Cerberus affiliate CSMA BLT LLC purchased 1,024 rental homes from BLTREJV3 Memphis LLC, an affiliate of BLT Homes, for a combined $83.6 million, according to five Aug. 31 special warranty deeds.

76. $83.6 Million Rental-Home Deeds Filed With County Register -

Deeds related to New York-based Cerberus Capital Management’s purchase of more than 1,000 rental homes in Shelby County have been filed with the county Register’s Office.

Cerberus affiliate CSMA BLT LLC purchased 1,024 rental homes from BLTREJV3 Memphis LLC, an affiliate of BLT Homes, for a combined $83.6 million, according to five Aug. 31 special warranty deeds.

77. Hotel Developer Moves On Scimitar Building Conversion -

179 Madison Ave.
Memphis, TN 38103

Permit Cost: $5.2 million

Permit Date: Applied August 2015

78. Renshaw Rehabs Spiffs Up Houses To Fetch Bigger Price Tags -

With a recent market uptick, Memphis-area Realtors are having to bring in outside help to get properties ready for sale.

Renshaw Property Management has launched a new division, Renshaw Rehabs, for the purpose of aiding distressed properties.

79. Onyx Equities Expands Operations to Memphis -

A New Jersey-based real estate investment, management and development firm has added a Memphis office to accommodate its growing management portfolio of real estate owned (REO) and receivership properties.

80. Onyx Equities Expands Operations to Memphis -

A New Jersey-based real estate investment, management and development firm has added a Memphis office to accommodate its growing management portfolio of real estate owned (REO) and receivership properties.

81. $9.5 Million Permit Filed For Downtown Hotel -

310 Union Ave.
Memphis, TN 38103

Permit Cost: $9.5 million

Permit Date: Applied August 2015

82. The Shops of Collierville Sells for $7.4 Million -

Mount Pleasant, S.C.-based Ziff Properties Inc. has acquired The Shops of Collierville for $7.4 million, according to a special warranty deed filed Aug. 3.

83. The Shops of Collierville Sells for $7.4 Million -

Mount Pleasant, S.C.-based Ziff Properties Inc. has acquired The Shops of Collierville for $7.4 million, according to a special warranty deed filed Aug. 3.

84. Earnings Season Roundup -

International Paper Reports Q2 Earnings Growth: International Paper reports its second-quarter net earnings grew while net sales for the quarter decreased slightly.

The Memphis-based company, which released its quarterly financial results Wednesday, July 29, said second-quarter earnings totaled $227 million, or 54 cents per share. That’s up from $161 million, or 37 cents per share, in second quarter 2014, but down from $313 million, or 74 cents per share, in first quarter 2015.

85. '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.

86. Warehouse At Perimeter Point Sells for $775,000 -

A Perimeter Point industrial building has been sold for $775,000.

Missouri-based Martabra Real Estate LLC acquired the flex warehouse building at 5055 Covington Way, just off Covington Pike south of Elmore Road, from CP Perimeter Point LLC, an affiliate of California-based Coastal Partners LLC.

87. MAA Reports Surging Profits -

Mid-America Apartment Communities Inc. reported a banner second quarter highlighted by surging profits.

88. Ikea Buys Cordova Acreage For Planned Memphis Store -

41 Acres for
Future Ikea Store

Sale Amount: $5.7 million

Sale Date: July 10, 2015

Buyer: IKEA Property Inc.

89. Memphis Tourism Officials: Limit Hotel Tax Breaks -

A wave of Downtown hotel plans has officials pumping the brakes on using public incentives for smaller, limited-service hotels.

With up to a dozen Downtown hotel projects in the development pipeline, the Memphis Convention and Visitors Bureau has asked the Downtown Memphis Commission to explore limiting incentives to large, full-service hotels.

90. REIT Buys Sears Properties in Sale-Leaseback -

In part of a major transaction to increase cash flow and make their retail spaces more productive, Sears Holdings Corp. sold four Memphis properties to its newly formed public real estate investment trust, Seritage Growth Properties, for a combined $17.6 million.

91. On Edge -

In February Sam Carolan was planning to move from Austin, Texas, to Memphis to become a digital sales specialist for Nexstar Broadcasting Group Inc., which owns the ABC24 and CW30 television channels.

92. LRK Launches Expansion in Downtown Memphis -

Looney Ricks Kiss is embarking on an expansion of its Downtown Memphis headquarters.

The Memphis-based architecture, planning and design firm is expanding its office footprint by about 60 percent as part of a long-term lease extension at the Toyota Center building adjacent to AutoZone Park, 175 Toyota Plaza.

93. REIT Buys Sears Properties in Sale-Leaseback Transaction -

In part of a major transaction to increase cash flow and make its retail spaces more productive, Sears Holdings Corp. sold four Memphis properties to its newly formed public real estate investment trust, Seritage Growth Properties, for a combined $17.6 million.

94. New Hotel Planned for Downtown Memphis -

Two Ohio-based development firms plan to build a new hotel on a vacant site in Downtown Memphis.

The Orlean Co. of Beachwood, Ohio, and Ceres Development LLC of Westlake, Ohio, plan on building a Cambria Suites on a 3.3-acre lot on the south side of Union across from Fourth Street, just west of Danny Thomas Boulevard.

95. Wonder Bread Bakery Under Contract -

The former Wonder Bread bakery at 400 Monroe Ave. could soon have a new owner.

The bakery, idled by a labor strike before being sold in 2013, is under contract to a potential buyer, according to a commercial real estate broker.

96. Fino’s Taking a Bite Out of East Memphis -

The Brookhaven Circle area, an emerging restaurant row in the heart of East Memphis, is welcoming a new neighbor.

Jerry Wilson, owner of Fino’s from the Hill at 1853 Madison Ave. in Midtown, has acquired the property at 703 W. Brookhaven Circle in East Memphis for $526,600.

97. Graceland Hotel Developers File $84 Million Construction Loan -

3600 Elvis Presley Blvd.
Memphis, TN 38116
Loan Amount: $84 million

98. Michigan Investor Pays $7.5 Million for Hickory Hill Apartments -

5995 Waterstone Oak Way
Memphis, TN
Sale Amount: $7.5 million

Sale Date: June 11, 2015
Buyer: RoCo-Lakes LLC
Seller: RRE Waterstone Holdings LLC
Loan Amount: $6.2 million
Loan Date: June 11, 2015
Maturity Date: June 11, 2017
Lender: Keybank NA
Details: RoCo-Lakes LLC, a Michigan limited liability company, purchased two parcels comprising The Lakes at Ridgeway Apartments on June 11.

99. Dayco Wins Tax Break For Distribution Operations -

Michigan-based manufacturer Dayco Products Ltd. will consolidate its distribution operations in the Memphis area, but exactly where remains undecided.

“Due to the continued growth in demand for our products and increased product complexity over the past several years, we have committed to this significant capital investment in order to deliver increased value to our customers,” said Ed Rammel, president of the North American and Australian Aftermarket for Dayco, in a company statement.

100. Hillwood Pays $17.7 Million for FedEx SupplyChain Facility -

5050 E. Holmes Road and 0 Lamar Ave.
Memphis, TN 38118
Sale Amount: $17.7 million