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VOL. 111 | NO. 7 | Friday, January 10, 1997

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By CAMILLE H Shelter Insurance builds office facility in Cordova JAN. 10, 1997 -- A Columbia, Mo.-based insurance company has purchased 3 acres of property in Appling Corporate Park to build a 10,000-square-foot office. Shelter Mutual Insurance Co. has been in the Memphis market since 1960 and has operated out of a rented office at 6055 Primacy Parkway for several years. The company purchased the property at 1921 Appling Road from Dexter Development Partners on Dec. 31 for $438,746, according to a warranty deed filed in the Shelby County Register's Office. John Reed of Edwards Capital Management was the broker in the transactions. The construction costs were valued at $1.26 million, according to a building permit filed in the Shelby County Construction Code Enforcement Office. Jameson Gibson Construction Co. is the general contractor on the project, and the Crump Firm is the architect. "For a number of years we have wanted to build a building in Memphis," said Keith Curd, property manager for Shelter. "We had a long-range plan for the entire company, and over the past six years, we have built nine new buildings throughout our company operating area. It is just Memphis' turn." Communications director Maggie Wood said, "The move is to have the branch offices migrate into company-owned offices, and the Memphis branch is the only one with actual construction in the works right now." Shelter Insurance operates in 13 states in the Midwest. In Tennessee, the company has offices in Memphis and Nashville. The Memphis office employs 14 people. Company officials expect construction to be complete in August. Curd said the company may be adding staff members after the move. "The building we are building is larger than what we presently need and the purpose of that is for growth," Curd said. "I would assume that we will probably be growing as we move into the building." Curd said the company chose the Appling area because of the quality of the neighbors. "From what we've seen with the growth pattern in Memphis and what we've seen with the neighbors around us, we were very intent on being in that area," he said. "Plus, the potential for a lot growth near the new mall was a factor." Reed said the Appling Corporate Park area is appealing to companies because of its landscape and the convenience to I-40. He added that companies are also drawn to the park because of the other big names moving there. "There have been a number of large corporate offices built in that vicinity, namely Allenberg Cotton, Union Planters, Hohenberg Cotton, BellSouth and ICI Acrylics it's also a very convenient and very pretty layout," Reed said. Shelter Insurance is a mutual, multiple-lines company with approximately 1,200 licensed agents and 1,600 employees. Shelter Mutual Insurance Co., a division of Shelter Insurance, was founded in 1946 as MFA Mutual Insurance by the Missouri Farmers Association. The company changed its name to Shelter in 1981. By CAMILLE H. GAMBLE The Daily News
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 62 288 2,619
MORTGAGES 52 197 1,783
FORECLOSURE NOTICES 16 53 275
BUILDING PERMITS 0 569 5,701
BANKRUPTCIES 0 87 993
BUSINESS LICENSES 0 110 491
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0