VOL. 113 | NO. 244 | Monday, December 27, 1999
A University of Memphis study focusing on the potential of inner-city and older suburban retail markets has won national recog
A University of Memphis study focusing on the potential of inner city and older suburban retail markets has won national recognition from the National Association of Management and Technical Assistance Centers. Steve Redding, a research associate in The U of Ms Regional Economic Development Center, conducted the study, which was one of 23 rated outstanding in the organizations Project of the Year competition. Reddings project was designed to identify retail development opportunities in nine older Memphis neighborhoods that have suffered losses of grocery, pharmacy, clothing and other businesses that moved to follow population growth in the eastern and southern parts of the Memphis metropolitan area.
Perkins Restaurant and Bakery at 1340 S. Germantown Parkway, brought home a Gold Flag Award in Bakery Retail Sales at the chains recent franchise owners conference. The annual awards are presented to the restaurant with the highest percentage of carryout sales in relation to overall store sales. A winner is selected from the companys eastern and western divisions. The store opened in 1994 and is operated by L&E Management Co.
Officials with Memphis Networx announced completion and filing of documents required to obtain approval from the Tennessee Regulatory Authority to provide telecommunications service. The company anticipates approval will take place early in the first quarter of 2000 and services will be deployed soon after. Memphis Networx LLC is a joint venture between Memphis Light, Gas & Water and Aptus Networks (formerly A&L Networks LLC) that is chartered to bring competition to the Memphis and Shelby County exchange market.
Highwoods Properties Inc. has completed the sale of several central Florida properties in a transaction valued at $165.3 million. The transaction involved the sale of 36 office properties encompassing 2.1 million square feet. Proceeds from the sale will be used to retire $4.7 million in secured debt, to reinvest in tax-deferred exchange transactions, for debt reduction and to fund the companys share repurchase plan. Highwoods Properties Inc. is a fully integrated, self-administered real estate investment trust. The company owns or has an interest in 671 office, industrial, retail and service center properties.