Developer to Build Shoppes of Greys Creek

9.06 acres near

Walnut Grove

Cost: $4.3 million

Borrower: Greys Creek Development Co. LP

Lender: Community Bank, DeSoto County

Trustee: Lancelot L. Minor III

Property: 9.06 acres of unimproved land near Walnut Grove and Houston Levee roads.

The parcel is one of two planned for development as the Shoppes of Greys Creek, said Curtis Wegener, president of Grace Development Co. and general partner of Greys Creek Development Co. LP.

The development will include a 78,000-square-foot shopping center in two phases, with the first phase totaling 30,000 square feet. The company has three lots under contract already a 6,000-square-foot outparcel and two restaurant pads.

Wegener said the partnership closed on an adjacent 5.66-acre parcel about 90 days ago. That parcel was purchased from Ann Greer for $900,000.

Before the shopping center is built, the partnership plans to widen Walnut Grove and Houston Levee roads.

Were in engineering right now with the design of the street, so (construction will begin) as soon as we get the street designed, Wegener said. Were expanding Walnut Grove to five lanes on our half of the road, and we have to expand Houston Levee to seven.

9.06 acres near

Walnut Grove

Cost: $2.3 million

Buyer: Greys Creek Development Co. LP

Seller: Key Partners, consisting of Tommy Keessee, Terry Edwards and Logan Young

Property: 9.06 acres of unimproved land near Walnut Grove and Houston Levee roads.

Vacant land on

Wolf River Court

Cost: $2.8 million

Borrower: Light-Red Wolf Ventures LLC

Lender: National Bank of Commerce

Trustee: R. Grattan Brown Jr.

Property: Vacant land on Wolf River Court in the Wolf River Professional Center in Germantown.

20 lots in

Franklin Farms

Cost: $2.7 million

Borrower: Reeves-Williams LLC

Lender: First Tennessee Bank NA

Trustee: Thomas F. Baker IV

Property: 20 lots in the Franklin Farms Planned Development.

Vacant land near

Appling Farms Parkway

Cost: $2.5 million

Borrower: Jemini LLC and Bob Ladd & Associates Inc.

Lender: First Citizens National Bank

Trustee: John S. Bomar

Property: Vacant land near Appling Farms Parkway and the Planned Wholesale-Distribution Park District, phase five.

Property in Appling

Business Center

Cost: $2.4 million

Borrower: Appling Way I GP

Lender: General Electric Capital Assurance Co.

Trustee: Fidelity National Title Insurance Co.

Property: Appling Business Center Planned Development, phase 17, area A, and phase 24, area A.

2.42 acres in

Cordova Station

Cost: $2.3 million

Borrower: Gill Enterprises

Lender: Financial Federal Savings Bank

Trustee: John W. Montesi Jr.

Property: 2.42 acres near North Germantown Parkway in the Cordova Station Planned Development.

Berryhill

Shopping Center

Cost: $1.9 million

Borrower: Berry Hill LLC

Lender: Column Financial Inc.

Trustee: Barbara Gardner

Property: Berryhill Shopping Center near Berryhill Road and Chimneyrock Boulevard in Cordova.