Developers Make Plans for Former Church Property

6310 Poplar Ave.

Memphis, TN 38117

Cost: $3.1 million

Buyer: WN Poplar-Massey

Seller: Kingsway Christian Church of Memphis, Tenn.

Property: Two acres at 6310 Poplar Ave. near Massey Road, one of three parcels totaling 6.6 acres that formerly housed Kingsway Christian Church.

The parcels were sold to two developers, Newman Properties president West Newman and Walker Commercial Properties John Walker.

Were going to construct a freestanding Walgreens drug store, Newman said of the two-acre parcel he purchased as chief manager of WN Poplar-Massey. Construction will probably commence sometime around March 1, maybe sooner.

Walker, who purchased the other parcels, said the 1.4 acres will house a Chick-fil-A, and the 3.2 acres will house a 27,200-square-foot retail center with multiple tenants.

I ground leased the site to Chick-fil-A, and then sold that ground lease to an investor out of New Orleans, Walker said.

Newman said Walgreens probably will open in the fall, and Walker said construction will be completed on the retail center and Chick-fil-A by summer.

Kingsway currently meets at Faith Christian Church, 4965 Willow Road.

6310 Poplar Ave.

Memphis, TN 38117

Cost: $5.3 million

Borrower: Poplar Station LLC

Lender: National Bank of Commerce

Trustee: R. Grattan Brown Jr.

Property: 3.2 acres at 6310 Poplar Ave. near Massey Road.

6310 Poplar Ave.

Memphis, TN 38117

Cost: $5.2 million

Borrower: WN Poplar-Massey LLC

Lender: First Tennessee Bank National Association

Trustee: Thomas F. Baker IV

Property: Two acres at 6310 Poplar Ave. near Massey Road.

6310 Poplar Ave.

Memphis, TN 38117

Cost: $2.4 million

Buyer: Poplar Station LLC

Seller: Kingsway Christian Church of Memphis, Tenn.

Property: 3.2 acres at 6310 Poplar Ave. near Massey Road.

6310 Poplar Ave.

Memphis, TN 38117

Cost: $1.5 million

Buyer: Manhattan Investments LLC and Pryor Street LLC as tenants in common

Seller: Kingsway Christian Church of Memphis, Tenn.

Property: 1.4 acres at 6310 Poplar Ave. near Massey Road.

Five Memphis

Circle K locations

Cost: $9.6 million

Borrower: Circle K Stores Inc.

Lender: National Bank of Canada

Trustee: Mid South Title Corp.

Property: Store No. 2703909 at 1834 Madison Ave.; store No. 2703911 at 3556 James Road; store No. 2705148 at 1781 Getwell Road; store No. 2705151 at 8110 U.S. Highway 64; and store No. 2705154 at 1351 Germantown Road.

Land located in

County Gate

Cost: $6 million

Borrower: Hacks Cross Enterprises LLC

Lender: Bridger Commercial Funding LLC

Trustee: Land America

Property: County Gate Planned Development, amended, phase four, near Winchester and Hacks Cross roads.

4250 E. Shelby Drive

Memphis, TN

Cost: $4.9 million

Borrower: Southeast Office Partners LLC 33

Lender: Wachovia Bank NA

Trustee: Joseph Pitt

Property: Two parcels at 4250 E. Shelby Drive in Memphis.

4250 E. Shelby Drive

Memphis, TN

Cost: $4.7 million

Buyer: Southeast Office Partners LLC

Seller: The Northwestern Mutual Life Insurance Co.

Property: Two parcels at 4250 E. Shelby Drive in Memphis.

18.1 acres near

Farmington Meadows

Cost: $3 million

Buyer: The Village at Germantown Inc.

Seller: Owen Investments LP

Property: Two parcels totaling 18.1 acres near the Farmington Meadows Subdivision.

Six lots in

Braystone Park

Cost: $2.6 million

Borrower: John Worley Jr. Builder Inc.

Lender: National Bank of Commerce

Trustee: R. Grattan Brown Jr. and Charles A. Neale

Property: Six lots in Braystone Park Subdivision, phase two.