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VOL. 117 | NO. 114 | Thursday, June 12, 2003

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Coco & Lillys brings

Coco & Lillys brings

high fashion Downtown

Peabody Place is home to the newest outlet of Coco & Lillys, an East Coast clothier with eight stores between New York City and Miami.

The store on the Downtown malls lower level is tailored for the cost-conscious consumer who has an eye toward the fashions seen on New Yorks runways, said store manager David Amstel.

Hours are 10 a.m. to 10 p.m. Monday through Saturday, and noon to 6 p.m. Sunday.


Pyramid Awards

honor advertisings best

Memphis Advertising Federation hosts the Pyramid Awards Friday at the Park Vista Memphis, 939 Ridge Lake Blvd. The ceremony starts with a reception at 6 p.m., followed by a seated dinner and awards presentation at 7 p.m.

The Pyramid Awards recognize those who have made notable contributions to the advertising industry.

Tickets are $50 for MAF members, $70 for non-members and $600 for tables of 10. For reservations, call 725-6231 or e-mail maf@memphisadfed.org.


FirstBank completes

Middle Tenn. bank buyout

First South Bancorp, FirstBanks holding company, finalized the acquisition of the Bank of Murfreesboro, said board chairman James W. Ayers.

The acquisition represents a step in FirstBanks long-term plan to increase its Middle Tennessee presence.

Under the agreement, Murfreesboro Bancorp shareholders received $21.25 per share. The deal was valued at $26.8 million.


Winchester Building

gets new ownership

Four Crye-Leike Inc. representatives purchased the six-story historic Winchester Building at Third Street and Madison Avenue.

The company plans to open a nine-person office in the 101-year-old historic site. Crye-Leike will provide full real estate services with an emphasis on property management from the Downtown location.

The company has management contracts with seven Downtown owners associations and property owners. The building was purchased for $1.3 million from a limited partnership whose principals are Dean Jernigan and Willard Sparks.

According to Center City Commission officials, the ownership group received approval in May to assume the remaining six years of the 25-year payment-in-lieu-of-taxes issued by the Center City Revenue Finance Corp. in 1984 when the building underwent extensive renovations.

The four investors in Scimitar LLC, the firm that purchased the building, include Dick Leike, Crye-Leike Inc. co-founder and president; Chet Whitsitt, a company vice president; Collins Mikell, property manager; and Tony Fletcher, property management president. The firm is spending $60,000 to finish its 1,500-square-foot office, as well as $160,000 on renovations of the copper canopy, wrought iron exterior, elevators and lobby, CCC officials said.

The building was the original location of the Memphis Press Scimitar newspaper.


Creative Kitchens set

to open Miss. location

Southaven, Miss., Mayor Greg Davis will mark the official opening of Creative Kitchens DeSoto County showroom at 3964 Goodman Road at 11 a.m. June 19.

Store owners Denson Ford and Mike Donovan said response to the new showroom has been positive. Award-winning kitchen designer Nancy Miller is store manager.

It is Creative Kitchens third location.


Entry deadline nears

for Beautiful entries

Entry deadline for Memphis City Beautiful Commissions 17th annual Beautiful Business Awards is noon Friday.

For information, call 522-1135.

PROPERTY SALES 140 207 19,653
MORTGAGES 128 196 22,629
BUILDING PERMITS 166 367 40,371
BANKRUPTCIES 40 102 12,588