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Editorial Results (free)

1. Last Word: Fire Recovery, Justice Department Work Begins and Rocky Top Angst -

The death toll in the East Tennessee wildfires goes to 10 Thursday as the recovery effort moves beyond a search for those missing. The count of buildings burned in Sevier County is estimated at more than 700 – 300 just in Gatlinburg. And 47 people are injured by the latest count. The count of those who died in the fires includes confirmation that Jon and Janet Summer of Memphis are among the dead recovered so far.

2. Kirk-Ivy Named 2016 Mississippi Commercial Realtor -

Bambi K. Kirk-Ivy, a commercial Realtor and marketing director at Olive Branch-based Utley Properties, recently was recognized as the 2016 Mississippi Commercial Realtor of the Year at the annual Mississippi Realtors Convention and Expo.
As a landlord representative for all of Utley’s properties, most of Kirk-Ivy’s work has been in retail; however, she says the company is now focusing on light industrial-type flex spaces consisting of office, showroom and warehouse uses.
In 2017, she also will serve as the northern district director on the Mississippi Commercial Association of Realtors board of directors. 

3. Sales of Senior Living Facilities Up in 2015 -

Mirroring national trends that show an increase in interest by investors in senior living facilities, the number of nursing home/elderly housing facilities that have changed hands is on the rise in Shelby County.

4. 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.

5. Hickory Hill Retirement Home Sells for $1.2 Million -

FLH Assisted Living Residences LP, a Tennessee limited partnership based in Collierville, purchased the Franklin Park retirement home located at 3393 Kirby Road in Hickory Hill on June 11 for $1.2 million.

6. Three States Supply Inks Lease in SE Submarket -

A heating and air-conditioning firm is consolidating offices within the Southeast industrial submarket – where it currently has one office.

Three States Supply Co. LLC has inked a 47,000-square-foot lease at 4290 Delp St.

7. Ambulance Co. Signs New Lease, Ups Space -

A Nashville-based health care company is expanding its Memphis presence. First Call Ambulance Services LLC has signed a three-year, 13,500-square-foot lease at 5155 Wilfong Road, more than doubling its existing space on Federal Avenue.

8. Inaugural Seminar to Focus on CRE Issues -

Despite commercial real estate’s doldrums, local brokers are seeing signs of resurgence.

Commercial real estate investments – such as malls, office buildings and industrial properties – reached $316 billion nationwide in 2010, according to Thomas Reuters. That represented a 50 percent jump from an eight-year low in 2009 of $209 billion.

9. What Happens Next -

Take a good look around you, Memphis.

The next 12 months have so much in store, almost anywhere a person looks – from the neighborhood school to the family doctor to office buildings Downtown to industrial space in South Memphis – the pace of change is likely to make 2011 one for the record books.

10. Multifamily Survives Q4, Year -

The fourth quarter of 2009 proved to be a decent period for the local multifamily industry during an otherwise lackluster year. Though some market trends remained relatively unchanged from third quarter, the apartment sector enjoyed a rush of investment sales as more investors pulled the trigger on deals.

11. Memphis Music Foundation Elects Bell Chairman -

Al Bell has been elected the new chairman of the Memphis Music Foundation.
Under Bell’s direction, the foundation will continue to provide education, strategic planning and promotional opportunities to the Memphis music industry.
Bell is the former chairman and owner of Stax Records and former president of Motown Records. Bell has worked with artists such as Booker T and the MG’s, Otis Redding, Sam and Dave, Albert King, Rufus Thomas, Isaac Hayes and Richard Pryor.

12. Mosquito Season Calls for Disease Prevention Efforts -

As the number of foreclosed and abandoned properties increases with the stagnating economy, so do the breeding grounds for mosquitoes.

The tiny insects that almost eradicated Memphis are still a health concern more than a hundred years after the Yellow Fever epidemics. All the factors are in place for plentiful broods of mosquitoes this summer: ample rainfall, warm weather and a multitude of hatching spots.

13. Commercial Real Estate Hangs on for Dear Life -

The pulse of commercial real estate is barely detectable, but the fact that it’s still registering a beat is remarkable considering the trauma it’s suffered over the past year.

From March 2008 through February 2009, commercial sales in Shelby County declined 35 percent compared to the prior 12-month period, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com.

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

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

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

15. E.W. Scripps Cuts 400 Newspaper Jobs -

E.W. Scripps Co., the parent company of The Commercial Appeal, said Friday it was laying off around 400 employees nationwide.

16. Avery Joins Southwest As Information Systems Director -

Jim Avery has joined Southwest Tennessee Community College as executive director of information systems.

17. Commercial Real Estate Tumbles -

After a prolonged and prosperous ride, commercial real estate stumbled in the past year with no signs of regaining its balance anytime soon.

Just 998 commercial sales were made in Shelby County from August 2007 through July 2008, down 17.6 percent from 1,211 sales during the previous 12-month period, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com.

18. May Commercial Sales Drop 75 Percent -

Take away the $16 million multifamily portfolio sold in a complicated deal that kept the properties out of bankruptcy and Shelby County’s commercial real estate activity in May was a picture of paltriness.

19. Shelby County’s Commercial Sales on Decline -

It took a pair of West Coast companies to give Memphis’ commercial real estate a shot in the arm in April – Tacoma, Wash.-based Gintz Group sold a 172-unit Midtown apartment complex at 1550 North Parkway to Newport Beach, Calif.-based Nationwide Health Properties Inc. for $19.5 million.

20. Commercial Sales Plummet in April -

April turned disastrous for commercial real estate in Shelby County, as total sales plummeted 34.8 percent from the same month a year ago, according to the latest data from Chandler Reports, www.chandlerreports.com.

21. Glenmary Apts. To Become Senior Facility -

The Glenmary at Evergreen has a new owner and a new purpose - again.

Tacoma, Wash.-based Gintz Group recently scrapped its original idea to convert the two-building, 172-unit Midtown apartment complex at 1550 North Parkway into condominiums and instead will turn it into an independent- and assisted-living senior housing facility, said Wade Lewis, project manager for the company's Memphis region.

22. Archived Article -

Three Memphis
Senior living communities
Sale Amounts: $11 million; $11.6 million; $7.1 million

Sale Date: April 26, 2007

23. California REIT Buys ThreeSenior Living Communities -      Nationwide Health Properties, a Newport Beach, Calif.-based real estate investment trust (REIT) specializing in senior housing and long-term care facilities, has bought three Memphis retirement communities for nearly $30

24. City, County Near Conclusion of PILOT Study -

By the end of this year, property tax freezes for 40 businesses in Memphis and Shelby County are due to expire, according to figures from Bob Patterson, county trustee. The freezes are given out through the city and county's payment-in-lieu-of-taxes, or PILOT, program.

25. Archived Article: Daily Digest - Georgia Group Finances

Georgia Group Finances

Four Memphis Properties

Georgia-based M2Z2 LLC has financed property at 1414 Jackson Ave., 4027 Jackson Ave., 1796 Lamar Ave. and 4161 Winchester Road through Paragon National Bank for $1.9 mill...

26. Archived Article: Daily Digest - Holiday Inn Property

Holiday Inn Property

Sells for $12 Million

HH HPTCW II Properties LLC has purchased a Holiday Inn property at 5795 Poplar Ave. near Interstate 240 for $12 million, according to The Daily News Public Records Database, ww...

27. Archived Article: Gov - By Andy Meek

Long-Term Plan to Address City Revenue Needs

ANDY MEEK

The Daily News

Dont believe the conventional wisdom the tax burden on Memphis residents and businesses is not as bad as it could be, said Marlin Mosby, manager of the Me...

28. Archived Article: Memos - John W. McConomy

John W. McConomy was appointed ResortQuest International Inc. senior vice president and general counsel. McConomy will join the company effective May 19 in Destin, Fla., the new location of its corporate office. McConomy will ove...

29. Archived Article: Real Focus - By JENNIFER MURLEY Steady REIT dividends gaining public trust By JENNIFER MURLEY The Daily News In the old days, people bought cows for milk. They didnt care about the price of beef. As long as that cow put milk on the table everyday, no one cared a...

30. Archived Article: Healthcare P.2 - Firm acquires building at Baptist campus

Firm acquires building at Baptist campus

Healthcare Realty Trust Inc. announced the acquisition of a 97,000-square-foot medical office facility at 80 Humphreys Blvd., just yards from the new Baptist Mem...

31. Archived Article: Real Review - Healthcare Realty Trust Expands Relationship With Baptist Memorial Health Care In Memphis New medical office building to accompany Baptist expansion Healthcare Realty Trust will fund, build and own a second medical office building on the Baptist Mem...

32. Archived Article: Baptist P. 2 - Medical office building to accompany new Baptist hospital Medical office building to accompany new Baptist hospital Healthcare Realty Trust Inc. and Baptist Memorial Health Care Corp. announced that Healthcare Realty Trust will fund, construct and o...

33. Archived Article: Real Focus - Paint them a picture Paint them a picture A reminder about lead-based paint disclosure By Rosemarie Fair Stack Special to The Daily News Several years ago, lead-based paint hazards were in the news as Congress was developing new legislation to prote...

34. Archived Article: Amb (bott) - By LAURIE JOHNSON San Francisco REIT acquires Willow Lake Business Park By LAURIE JOHNSON The Daily News San Francisco-based AMB Property Corp. has purchased the Willow Lake Business Park as part of a series of five acquisitions completed during its...

35. Archived Article: Raleigh Woods Apts Lj - lj 10/5 cates Non-profit agencies buy Raleigh Woods apartments By LAURIE JOHNSON The Daily News An apartment complex in northeast Memphis has been purchased by two out-of-state, non-profit agencies which plan to transform the property into affordabl...

36. Archived Article: Real Briefs - Re/Max sales associates in the Kentucky/Tennessee region of the company closed more than $1 Re/Max sales associates in the Kentucky/Tennessee region of the company closed more than $1.8 billion in sales for 1995, the third year that the region has p...