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Editorial Results (free)

1. TAG Expects Truck Facility to be Operational by Mid-2017 -

TAG Truck Center is moving forward with a $28 million trucking facility at the former site of the Mall of Memphis. Contractor Linkous Construction Co. recently filed two building permits for TAG’s new headquarters.

2. Q2 Data Show Strong Memphis Economy -

From lending activity to bank data to anecdotal evidence from businesses in the area, the Memphis economy seems to be moving into the summer months from a position of strength.

That’s based on a comprehensive look at second quarter metrics and data – everything from recaps of big real estate deals to home sale numbers and the stock prices of Memphis-based companies – included in The Daily News Quarterly Review.

3. Common Table Names New CEO, Board Chairman -

The executive committee of the Common Table Health Alliance (CTHA) board of directors has announced that Dr. Barry-Lewis Harris will serve as the organization’s new chief executive officer. Reggie Crenshaw is now serving as board chairman.

4. Traffic Rises 7.6 Percent At Memphis Airport in May -

May marked the 13th consecutive month of year-over-year traffic growth at Memphis International Airport, which saw a 7.6 percent increase in origination and destination (O&D) enplanements compared to 2015, the airport reported Thursday, July 7.

5. Traffic at Memphis Airport Rises 7.6 Percent in May -

May marked the 13th consecutive month of year-over-year traffic growth at Memphis International Airport, which saw a 7.6 percent increase in origination and destination (O&D) enplanements compared to 2015, the airport reported Thursday, July 7.

6. 3-Story Hotel Set to Rise In Southeast Shelby County -

7967 Lowrance Road
Shelby County, TN 38125

Permit Amount: $2.6 million

Issued Date: July 2016

7. Cordova Retail Center Sells for $3 Million -

A two-tenant retail center on Germantown Parkway has traded hands for $3 million.

Kim Investment Partners IV LLC, a California limited liability company, purchased the 6,480-square-foot Class A building at 2288 N. Germantown Parkway from GT Plaza LLC, according to a June 29 warranty deed.

8. Memphis International Raceway Readies for World Series of Drag Racing -

No one is suggesting that Memphis International Raceway will duplicate the economic impact numbers generated by the Bristol Motor Speedway. For those numbers – more than $417 million in direct economic impact from 2012 to 2014 – are otherworldly.

9. Pop the Cork -

On Nov. 4, 2014, voters in six of Shelby County’s seven municipalities approved wine sales in food stores effective July 1, 2016. The next day, Josh Hammond, president of Buster’s Liquors & Wines, put the gears in motion to acquire the restaurant adjacent to his Highland Street spirits store.

10. Greenprint Summit Gauges Community Support -

It’s not easy being green. That is, until people begin to see projects like the Shelby Farms Greenline and Wolf River Greenway taking shape.

11. Airport Didn’t Help, But Didn’t Derail ServiceMaster -

When ServiceMaster began its search for a new corporate headquarters nearly two years ago, it focused on Southern hub cities that could support a growing tech-focused company. In ranking Memphis alongside other cities, Memphis International Airport came up short.

12. Last Word: Cavaliers, The Longer County Tax Season and The New Elections Chief -

The Cleveland Cavaliers are the NBA champs, beating the Golden State Warriors 93 – 89 in the final game of the NBA’s second season. I don’t want to hear a word about how baseball takes too long.

13. EDGE Grants Incentives for TAG Truck Center, Turner Dairy -

Two longtime Memphis-area companies secured tax incentives at the June meeting of the Memphis-Shelby County Economic Development Growth Engine.

The payment-in-lieu-of-taxes will support TAG Truck Enterprises LLC’s plans for the former Mall of Memphis site as well as an expansion of Turner Dairy in the heart of Midtown.

14. Collierville Sees Year’s Largest Multifamily Sale -

160 Madison Farms Drive
Collierville, TN 38017

Sale Amount: $34.3 million

Buyer: Spyglass-Collierville LLC

15. Collierville Apartments Sell for $34.3 Million -

Collierville’s 324-unit Madison at Schilling Farms apartment community has changed hands in the largest multifamily sale in Shelby County over the past year.

New Jersey-based private equity firm Spyglass Capital Partners LLC, working as Spyglass-Collierville LLC, paid $34.3 million, or $105,864 per unit, for the Class A property. The seller, Arenda Capital Management affiliate Madison 324 LLC, had purchased the community four years ago for $32 million.

16. Madison at Schilling Farms Sells for $34.3 Million -

Collierville’s 324-unit Madison at Schilling Farms apartment community has changed hands in the largest multifamily sale in Shelby County over the past year.

New Jersey-based private equity firm Spyglass Capital Partners LLC, working as Spyglass-Collierville LLC, paid $34.3 million, or $105,864 per unit, for the Class A property. The seller, Arenda Capital Management affiliate Madison 324 LLC, had purchased the community four years ago for $32 million.

17. 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

18. Poplar Place Apartments Sell for $15.3 Million -

1669 Randolph Place
Memphis, TN 38120

Sale Amount: $15.3 million

Sale Date: May 6

Buyer: Poplar Place TN Townhomes LLC

19. Poplar Place Apartments Sell for $15.3 Million -

The 220-unit Poplar Place apartments in East Memphis have sold for $15.3 million, or $69,409 per unit.

Brooklyn-based Poplar Place TN Townhomes LLC purchased the complex in a May 6 warranty deed from Poplar Place Associates LLC, a company of Newton Square, Penn.-based GMH Capital Partners LP. The deed lists 1669 Randolph Place as the real property address.

20. Germantown Medical Office Sells for $1.1 Million -

A Germantown medical office has sold for $1.1 million.

Wolf Trail Medical Partners GP sold the property at 7796 Wolf Trail Cove to MHFY LLC in a May 2 warranty deed.

21. Poplar Place Apartments Sell for $15.3 Million -

The 220-unit Poplar Place apartments in East Memphis have sold for $15.3 million, or $69,409 per unit.

Brooklyn-based Poplar Place TN Townhomes LLC purchased the complex in a May 6 warranty deed from Poplar Place Associates LLC, a company of Newton Square, Penn.-based GMH Capital Partners LP. The deed lists 1669 Randolph Place as the real property address.

22. Germantown Medical Office Sells for $1.1 Million -

A Germantown medical office has sold for $1.1 million.

Wolf Trail Medical Partners GP sold the property at 7796 Wolf Trail Cove to MHFY LLC in a May 2 warranty deed.

23. 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.

24. French Fort Motel Compromise Hard-Fought -

The developer of the old Marine Hospital south of E.H. Crump Avenue at the Memphis-Arkansas Bridge across the Mississippi River and the leader of the French Fort neighborhood association never actually talked to each other Wednesday, May 4.

25. Collierville Breaks Ground On $93.5M High School -

11605 E. Shelby Drive
Collierville, TN 38017

Project Cost: $93.5 million

Completion: August 2018

26. 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.

27. Dallas Firm Buys Warehouse for $7.5 Million -

A warehouse near McKellar Lake has sold for $7.5 million.

W.M. Barr & Co., Inc. sold the property at 2170 Buoy St. to STORE Master Funding X, an entity of Dallas-based investment firm Argenta Partners, in an April 11 warranty deed.

28. U of M Alumni Association To Present Awards May 21 -

The University of Memphis Alumni Association will present its 2016 Distinguished Alumni Awards on Saturday, May 21, beginning at 6 p.m. The event will be held at the Kemmons Wilson School of Hospitality & Resort Management, 3700 Central Ave.

29. $12.6M Building Permit For New Ballet Memphis HQ -

2144 Madison Ave.
Memphis, TN 38104
Permit Amount: $12.6 million

Owner: Ballet Memphis
Tenant: Ballet Memphis
Architect: Archimania
Contractor: Grinder, Taber & Grinder
Details: Ballet Memphis is setting the stage for its Overton Square headquarters as Grinder, Taber & Grinder recently applied for a $12.6 million building permit for new construction.

30. U of M Alumni Association To Present Awards May 21 -

The University of Memphis Alumni Association will present its 2016 Distinguished Alumni Awards on Saturday, May 21, beginning at 6 p.m. The event will be held at the Kemmons Wilson School of Hospitality & Resort Management, 3700 Central Ave.

31. LEDIC Founder Buys Metro 67 Apartments -

The Metro 67 Apartments in Downtown Memphis has been sold by a Dallas equity firm to Scott Ledbetter, founder and chairman-emeritus of LEDIC Management Group in Memphis, and members of his family.

32. Mortgage Market Up 3 Percent In March -

Shelby County’s mortgage market closed out the first quarter by posting March numbers that headed in the direction bankers and real estate professionals like to see.

Last month’s total purchase mortgage volume was a little more than $131 million, up by $3.4 million over March 2015’s total of almost $128 million, for a gain of about 3 percent. That’s according to real estate information company Chandler Reports, www.chandlerreports.com.

33. Metro 67 Apartments Bought by LEDIC Founder -

The Metro 67 Apartments in Downtown Memphis has been sold by a Dallas equity firm to Scott Ledbetter, founder and chairman-emeritus of LEDIC Management Group in Memphis, and members of his family.

34. 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.

35. Billingsley Calls for Release Of County Disparity Study -

Shelby County Commissioner Mark Billingsley says county government leaders should release to the public a disparity study the commission reviewed privately Monday, March 28.

The study by Mason Tillman Associates is an overview of contracts and specifically how much of the county’s business is with minority-owned businesses.

36. Billingsley Calls for Release of County Disparity Study -

Shelby County Commissioner Mark Billingsley says county government leaders should release to the public a disparity study the commission reviewed privately Monday, March 28.

37. Last Word: Back to Nashville, Dentistry & Genomes and Living The Fable -

The Memphis traffic is again heavy on the Interstate to Nashville as the Senate state and local government committee meets Tuesday to pick up where it left off with the still-forming version the upper chamber is crafting of the de-annexation bill.

38. Over $20M in Construction Headed to Brewery District -

495 Tennessee St.
Memphis, TN 38103

Permit Amount: $18.8 million

Owner: 495 Tennessee LLC

Tenant: Brewery Master Tenant

39. Sweetening the Pot -

The role of the private and public sectors in growing minority wealth came to a head at the March 16 board meeting of the Memphis-Shelby County Economic Development Growth Engine.

EDGE says that requiring companies that are receiving tax breaks to contract with minority- and women-owned companies makes for good public policy.

40. Last Word: Monday Vote, Beale's Search and Longview Heights -

Look for the state Senate to vote on the deannexation bill Monday in Nashville. At least that’s the date on the Senate calendar.

That could change as a member of the Shelby County legislative delegation has at last asked the Tennessee Attorney General for a legal opinion on the proposal. But it’s not a straight-up question about whether the proposal is constitutional. It’s a question about the specific characterization of past Memphis annexations as “egregious” – what has come to be the key legal term in this considerable political controversy.

41. Memphis Habitat Receives Statewide Grant Funds -

Memphis Habitat has received a $13,500 grant from the Tennessee Housing Development Agency through Habitat for Humanity of Tennessee to support the construction of a new home in Uptown.

The funds were part of a $500,000 grant Habitat for Humanity of Tennessee received from the THDA Housing Trust Fund to distribute among the 50 Habitat affiliates across Tennessee to aid in the construction of 20 homes statewide.

42. Cordova Apartments Sell for $31.1 Million -

555 Wood Arbor Parkway
Memphis, TN 38018
Sale Amount: $31.1 million

Sale Date: March 2, 2016
Buyer: CEAI Grove LLC
Seller: Trinity 464 LLC
Loan Amount: $4.2 million
Borrower: CEAI Grove LLC
Lender: CBRE Multifamily Capital Inc.
Details: The Grove at Trinity Point apartments have sold for $31.1 million.

43. Council Tallies Damage in 'Day of Bad News' -

Memphis City Council member Berlin Boyd summed up City Hall’s attitude Tuesday, March 15, during the council’s executive session. “Today is the day of bad news,” he said after a briefing from Mayor Jim Strickland on the deannexation bill approved the night before by the Tennessee House.
That was followed by more details on the estimated $60 million it will cost to replace the entire radio system for local first responders from the radios to the towers used to transmit their signals.

44. Last Word: Tiger Drumbeat, Eye on Drones and Shelby County Biggest Home Sale -

Let the coaching drumbeat resume after the Tigers Sunday post-season collapse one game past Tulsa.
A confession here – I am so sports challenged that I thought UConn was a team from Alaska until I saw it spelled out.
In my defense, who associates Huskies with Connecticut?
My point is what happens next isn’t just about basketball. It’s about a change with a good track record of being emotional in the worst way.
It’s linked to how we want to be known for treating people and what they think of us as a result of that.
In those two areas, it’s never just business. It’s always personal.
Josh Pastner’s four predecessors were each very different case studies in this regard.
It could have been any stop in any city with a basketball court and a one-and-done star he could find and recruit to John Calipari. But he still had to hide under a blanket in the back seat of a car on the way to the airport and lie about it long after everyone knew.
Knew about the Kentucky job that is. The mess he left at the university would surface shortly thereafter.
Tic Price was two fast seasons and the proof that the Memphis job isn’t just about what happens on the court and the attendance at games.
Price was clearly excited about coming to Memphis. He clearly understood the importance and heritage of Tigers basketball and valued it. And he wasted no time at all getting lost in the Memphis that is not a part of that all encompassing world.
It was the only job Larry Finch wanted and ultimately the job he couldn’t continue to have. That after ignoring conventional wisdom as a player and coming from Melrose High to Memphis State, bringing a beloved team with him and then picking Memphis again in the ABA over the Lakers in the NBA.
None of that was considered in pushing him out the door and then naming a building after him.
Dana Kirk
wanted to be the hustler John Calipari was. He was certainly impersonal enough about it and he took the team to an era where a post-season NCAA bid was expected and is still expected to this day.
But his impersonality exacted a high cost and he paid most of that cost. Although you could argue the experience for his team that produced some legendary players also made some of them legendary casualties of his emotional distance. It didn’t allow him to go elsewhere because he never figured out that he was being underestimated just as much as the team whose needs he ignored was in the national view of college basketball.
While Calipari dodged big trouble twice, Kirk wasn’t even in Calipari’s league when it came to ducking and timing.
We are past our inferiority complex. That’s what the last NFL drive of the 1990s did for us.
But it’s not necessarily a bad thing that we see the people chosen to occupy these very public positions as a reflection to the world of who we are.

45. Up, Up and Away -

The modern-day drone is both a high-tech military tool and a safer way to play humanitarian and deliver medicine and supplies to the suffering people of war-torn Syria.

The drone is everything from a stalking device to track poachers creeping through the South African bush hunting rhinos to the impetus for a potential commercial growth industry right here in Memphis.

46. Klondike Wants Plan To Stave Off Gentrification -

With multimillion-dollar investments growing up around it in the Crosstown and Uptown neighborhoods, the Klondike/Smokey City Community Development Corp. is working with the University of Memphis on a grassroots action plan to stave off gentrification.

47. Green Sword -

First it was a rumor – there would be a move by the Memphis City Council aimed at putting a quick end to the long-simmering Overton Park Greensward controversy.

It would come quickly and just before the start of the third spring of protests against the Memphis Zoo's use of the northern part of the Greensward for overflow parking.

48. Haslam Endorses Rubio In Tennessee Primary -

Tennessee Gov. Bill Haslam has endorsed Republican presidential contender Marco Rubio in advance of the Tuesday, March 1, Tennessee primaries.

In a statement released Thursday morning, Feb. 25, by the Rubio campaign, Haslam talked about  the need for a Republican presidential nominee who can win in the November general election.

49. Haslam Endorses Rubio -

Tennessee Gov. Bill Haslam has endorsed Republican presidential contender Marco Rubio in advance of the Tuesday, March 1, Tennessee primaries -- Republican and Democratic.

50. Work Begins On Brewery Development -

502 Tennessee St.
Memphis, TN 38103

Permit Amount: $4.5 million

Application Date: Feb. 18, 2016

Tenant: Brewery Master Tenant LLC

Architect: LRK Architects

Contractor: Montgomery Martin Contractors

51. 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

52. 276-Unit Cordova Apartments Sell for $29.2M -

The 276-unit Orleans at Walnut Grove apartment community has sold for $29.2 million.

PC Orleans LLC, an entity of Provo, Utah-based investment firm Peak Capital Partners, paid an equivalent of $105,731 per unit to buy the property at 317 Royal Chartres Square E. from Orleans Apartment Community LLC, according to a Feb. 4 warranty deed.

53. 276-Unit Cordova Apartments Sell for $29.2 Million -

The 276-unit Orleans at Walnut Grove apartment community has sold for $29.2 million.

PC Orleans LLC, an entity of Provo, Utah-based investment firm Peak Capital Partners, paid an equivalent of $105,731 per unit to buy the property at 317 Royal Chartres Square E. from Orleans Apartment Community LLC, according to a Feb. 4 warranty deed.

54. Medical Center Apartments Sell for $9.7 Million -

810 Washington Ave.
Memphis, TN 38105

Sale Amount: $9.7 million

Sale Date: Jan. 29, 2016

55. Councilman Boyd Calls For PILOT Moratorium -

Memphis City Council member Berlin Boyd is calling for a three-month moratorium on any new tax breaks through the Economic Development Growth Engine to come up with a local business participation program.

56. Fenced Out -

There’s a major problem in Memphis when it comes to minorities: African-Americans make up 63 percent of the population but garner less than 1 percent of total business receipts within Memphis, according to the most recent U.S. Census data.

57. 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

58. The Week Ahead: Jan. 25, 2016 -

We hope everyone survived Snow Terror ‘16 and is looking forward to a fun, productive week ahead that’s free of milk and bread runs. (Saturday’s high temp is 60 degrees – woohoo!) Here’s your weekly rundown of events and happenings worth paying attention to…

59. DHL Triples Space in New Memphis Service Center -

International shipping provider DHL is undergoing a Memphis growth spurt and has expanded a service center to meet growing need.

This week, operations got fully underway at the new 30,000-square-foot facility at 3560 Air Center Cove, near the Memphis International Airport. Previously, DHL was housed at an 11,000-square-foot space at 4140 Getwell Road.

60. 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

61. Last Word: SOTU React, OPEB Comeback and NFL Nostalgia -

The day after the last State of the Union address by President Barack Obama here's a breakdown of the reaction from our delegation to Washington.
Democratic U.S. Rep. Steve Cohen emphasized Obama's references to criminal justice reform.
"I know he is also committed to criminal justice reform and I hope my colleagues will work together to put meaningful reform on his desk," Cohen said.
Republican U.S. Rep. Stephen Fincher tweeted, "We need a plan to keep America safe and make America strong. I did not hear that from the President tonight."
Republican U.S. Sen. Lamar Alexander: "If Pres. Obama focuses on what he agrees on with Congress instead of what we disagree on, there's quite a bit we could get done in 2016."
Republican U.S. Senator Bob Corker urged the "swift release" of U.S sailors being held overnight by Iran in a border dispute just before the speech.

62. Shelby County Mortgage Activity Solid in 2015 -

The Shelby County mortgage market had a strong 2015, and lenders expect the momentum to continue for the foreseeable future.

Among loans made at the time of purchase, banks and mortgage lenders made 9,368 mortgages in Shelby County during 2015, up 11 percent from the 8,470 mortgages during 2014, according to the latest data from real estate information company Chandler Reports, chandlerreports.com.

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

601 Wolf River Blvd.
Collierville, TN 38017

Sale Amount: $17 million

Sale Date: Dec. 29, 2015

64. 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.

65. 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.

66. Incarcerated Youth Offer Solutions, Hope -

There is a growing concern about the increase of youth violence in the United States, and an equally growing commitment to advance the work of violence prevention and early intervention to prevent youth violence before it occurs. Memphis is no exception, on either issue.

67. 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.

68. Mall of Memphis Land Sold to Trucking Company -

The development company that wanted to build a speculative industrial park on the former Mall of Memphis site has sold the property instead.

Johnson Development Associates, Inc., acting as Memphis Industrial Properties, LLC, has unloaded the Mall of Memphis land in a Dec. 29 warranty deed.

69. Under Pressure -

The Urban Child Institute’s research produces data. That data provides guidance for making decisions about how to best help Memphis children age 3 and younger. And The Urban Child Institute’s assets, around $150 million in 2013, offer a means to that end.

70. Crestview Collection Makes New HQ in Oakhaven -

4300 Concorde Road
Memphis, TN 38118

Sale Amount: $6.9 million

Sale Date: Dec. 15

Buyer: CLI Inc.

Seller: Lester McMahan Partnership

Loan Amount: $6 million

71. Midway Point -

A quality, affordable neighborhood for low- to moderate-income Memphians. That’s developer Henry Turley’s ongoing vision for Uptown, a North Memphis neighborhood benefiting from $150 million in redevelopment efforts.

72. Resurrection Health to Open New Clinics in 2016 -

As Resurrection Health, a faith-based, evangelical health service organization, prepares to celebrate its first birthday, the enterprise is already planning to roll out two more clinic sites in 2016.

73. The Week Ahead: Dec. 14, 2015 -

How was your weekend, Memphis? Here’s our weekly rundown of local happenings you need to know about, from the annual AutoZone shareholder convergence Downtown to the new Star Wars movie...

74. Gates Foundation to Fund U of M Teacher Prep Program -

The Bill and Melinda Gates Foundation has committed to provide $34.7 million over three years to a set of five Teacher Preparation Transformation Centers, including one at the University of Memphis.

75. Gates Foundation to Fund U of M Teacher Prep Program -

The Bill and Melinda Gates Foundation has committed to provide $34.7 million over three years to a set of five Teacher Preparation Transformation Centers, including one at the University of Memphis.

76. Ikea Hires Memphis Contractor, Reaffirms Opening Date -

Ikea has made it official, again, and has hired a Memphis contractor to handle the heavy lifting.

Linkous Construction Co. will serve as construction manager for Ikea’s Memphis project, which is set for a groundbreaking next month and a fall 2016 opening.

77. Ikea Hires Memphis Contractor, Reaffirms Opening Date -

Ikea has made it official, again, and has hired a Memphis contractor to handle the heavy lifting.

Linkous Construction Co. will serve as construction manager for Ikea’s Memphis project, which is set for a groundbreaking next month and a fall 2016 opening.

78. TVA Begins Work On Memphis Natural Gas Plant -

2480 HENNINGTON AVE
Memphis, TN 38109

Permit Amount: $5 million; $1.4 million

Application Date: Nov. 17

Owner: Tennessee Valley Authority

Tenant: Tennessee Valley Authority

79. New Websites Dig Into Memphis Community, Nonprofit Data -

Supporting Memphis just got much easier with two new websites recently launched by the Community Foundation of Greater Memphis, WHEREweLIVEmidsouth.org and WHEREtoGIVEmidsouth.org.

80. Study: Medical Device Industry Has $2.6B Local Impact -

Companies like Smith & Nephew, Medtronic and Wright Medical don’t just help augment the human body as a result of the products and medical devices they manufacture.

Their products also represent something of a support structure for the Memphis economy, which is braced thanks in part to the reinforcement of the medical device industry.

81. Greenprint Summit Shows Region’s Possibilities -

Trails and bike lanes aren’t the only path to regional success, but they’re playing a growing role in partnerships among communities that sometimes find themselves competing for jobs.

To date, 19 of those communities have adopted a 25-year, green-centric plan that was introduced earlier this year and has been endorsed by more than 50 organizations.

82. EPA, Memphis Partner for Lead Paint Program -

The U.S. Environmental Protection Agency has formed a partnership with the city of Memphis and Shelby County governments for a pilot program to address lead-based paint issues in the community.

Memphis is the first community for the EPA to launch the initiative in its eight-state Southeastern Region 4. The year-long pilot program will address the EPA’s Lead Renovation, Repair and Painting Rule. The rule requires that firms performing renovation, repair and painting projects that disturb lead-based paint in homes, child care facilities and preschools built before 1978 become certified. In addition to EPA certification, those firms also must use certified renovators who have received EPA-approved training and follow lead-safe work practices.

83. Bank On Memphis Targets Smartphones -

For about five years now, a partnership between the city of Memphis and local banks and credit unions has been working to bring people who don’t have a checking or savings account into the mainstream banking sphere.

84. New Owner to Revive Long-Vacant Downtown Block -

A group of private investors – led by Memphis businessman Michael Cook – is looking to turn a blighted Downtown block into a mixed-use development with covered parking.

Walk-Off Properties LLC bought the nine-story Hickman Building and its accompanying two-story parking garage on Sept. 30 for $1 million. The building, at 240 Madison Ave., sits across from the Fogelman Downtown YMCA.

85. 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

86. Firefighter’s Widow Works Tirelessly to End Drunk Driving -

It was Saturday, July 29, 1995, a typical summer day for the Russell family. Bobby Russell Jr., 41, a Memphis firefighter, was working in the yard with his two sons when he was struck and killed on his front lawn by an impaired driver. Nothing was ever typical again for the Russell family.

87. 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.

88. DMC Eyes More PILOTs for ‘High-Impact’ Development -

The proposed Midtown mixed-use development at McLean Boulevard and Union Avenue has turned a corner with newly approved tax breaks.

On Tuesday, Oct. 13, the Center City Revenue Finance Corp., an affiliate board of the Downtown Memphis Commission, approved a 15-year payment-in-lieu-of-taxes incentive to support the residential, retail and grocery project.

89. 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.

90. Grand Island Owners File $22.5 Million Loan -

The owners of Grand Island Apartment Homes, a high-end apartment community on Mud Island, have filed a $22.5 million mortgage on the property with backing from U.S. Department of Housing and Urban Development.

91. Memphis College Prep Renovating Former Dunn Avenue Elementary -

1500 Dunn Ave.
Memphis, TN 38106

Permit Amount: $1.4 million

Application Date: Sept. 30

92. Grand Island Owners File $22.5 Million Loan -

The owners of Grand Island Apartment Homes, a high-end apartment community on Mud Island, have filed a $22.5 million mortgage on the property with backing from U.S. Department of Housing and Urban Development.

93. GLO Will Look to Grow Routes In Memphis -

A New Orleans-based carrier new to the scene could unlock more routes for Memphis International Airport.

GLO, a startup airline founded in 2013, announced 12 weekly nonstop flights between Louis Armstrong New Orleans International Airport and Memphis to begin in November.

94. ROCO Real Estate Buys Third Memphis Apartment Community -

2778 Pickering Drive
Memphis, TN 38115

Sale Amount: $5.5 million

Sale Date: Sept. 18, 2015

95. Building Permit Pulled for East Memphis Office Complex -

H & M Construction Co. Inc. has applied for a $1.6 million building permit for tenant alterations to Wright Medical Group Inc.’s facility at 1023 Cherry Road.

96. Building Permit Pulled for East Memphis Office Complex -

H & M Construction Co. Inc. has applied for a $1.6 million building permit for tenant alterations to Wright Medical Group Inc.’s facility at 1023 Cherry Road.

97. 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.

98. Hotel Density Fuels Memphis Convention Center Ambitions -

The best indicator that the national recession was lifting in Memphis was the emergence this year of numerous plans for new hotels and motels.

But aside from Whitehaven’s 450-room, $90 million Guest House at Graceland, most of the planned projects are small. And the smaller hotels do little to resolve the long-standing chicken-and-egg question about which should come first – more hotel rooms or more and better convention space.

99. Workforce Alliance CEO Hosts Teacher Tour -

Dr. Glen Fenter made a presentation to 51 Shelby County technical career teachers who toured Arkansas State University Mid-South in West Memphis, Ark., on Friday, Sept. 18.

The instructors were there for a district learning day to see the college’s nationally recognized dual enrollment programs. Among the points Fenter, the Greater Memphis Alliance for a Competitive Workforce’s CEO, made is that only 11 percent of employers believe college graduates have skills that employers need.

100. Commission Confirms Orgel Appointment to DMC -

Shelby County commissioners confirmed Monday, Sept. 14, county mayor Mark Luttrell’s appointment of Benjamin Orgel to the Downtown Memphis Commission board.