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VOL. 118 | NO. 194 | Tuesday, October 26, 2004

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6

Lofts Planned for Memphis Imports Building

1.36 acres near

Riverside Drive

Cost: $8.5 million

Borrower: Jason Crews Partnership

Lender: First Tennessee Bank NA

Trustee: Robert C. Liddon and Thomas F. Baker IV

Property: 1.36 acres near Georgia Avenue and Riverside Drive. The building formerly housed Memphis Imports.

Jason Crews, owner of Crews Realty LLC, plans to convert the building into condominiums.

It will have 66 condos, ranging from $150,000 to $350,000, Crews said. It will have balconies and a rooftop deck overlooking the river and Tom Lee Park.

Crews said he plans to add two stories to the top of the building and is strengthening columns inside the building to support the addition. The bottom floor will serve as garage space.

The existing building was 72,000 square feet, he said. Were adding some 70,000 square feet on top. With parking and all, it will be 140,000 square feet.

Crews has not yet announced an official name for the development. The architect for the project is Habiterra, and construction is being completed by Patton & Taylor Enterprises LLC.

According to Crews, construction on the project should be completed by summer.

 

6.28 acres near

Schilling Boulevard

Cost: $9.8 million

Borrower: Schilling-HChem LLC

Lender: National Bank of Commerce

Trustee: Southland Associates

Property: 6.28 acres near Schilling Boulevard and West Winchester Boulevard in Collierville.

 

318.85 acres near

I-40 in Arlington

Cost: $6.4 million

Buyer: Canale Properties LLC

Seller: John D. Canale Residuary Trust No. 1

Property: 318.85 acres near Interstate 40 and the Shelby County-Fayette County line in Arlington.

 

1.62 acres near

Jackson Avenue

Cost: $3.7 million

Buyer: Novogroder/Memphis LLC

Seller: RFM Hollywood LLC

Property: 1.62 acres near Jackson Avenue and Hollywood Street.

 

494 South Parkway

Memphis, TN 38106

Cost: $3.1 million

Borrower: Christ Missionary Baptist Church

Lender: Trust One Bank

Trustee: George M. Klepper III

Property: Four parcels at 494 South Parkway.

 

31.34 acres on

Rocky Point Road

Cost: $3 million

Borrower: Afton Grove Partners

Lender: BancorpSouth Bank

Trustee: Larry A. Butler

Property: 31.34 acres on Rocky Point Road in Cordova.

 

1.62 acres near

Jackson Avenue

Cost: $2.8 million

Borrower: Novogroder/Memphis LLC

Lender: John Hancock Life Insurance Co.

Trustee: Leeanne Marshall Cox

Property: 1.62 acres near Jackson Avenue and Hollywood Street.

 

57 lots in

Laurel Tree

Cost: $2.7 million

Buyer: Bowden Building Corp.

Seller: Laurel Tree LLC

Property: Lots 1 through 44 and lots 46 through 58 in The Greens of Irene Planned Development, phase four, also known as Laurel Tree Planned Development.

 

3222 Airways Blvd.

Memphis, TN 38116

Cost: $2.2 million

Buyer: Taj Investments Inc.

Seller: M&D Hospitality LLC

Property: Property at 3222 Airways Blvd.

 

57 lots in

Laurel Tree

Cost: $2.2 million

Borrower: Bowden Building Corp.

Lender: SouthTrust Bank

Trustee: Charles B. Quinn Jr.

Property: Lots 1 through 44 and lots 46 through 58 in The Greens of Irene Planned Development, phase four, also known as Laurel Tree Planned Development.

 

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 800
MORTGAGES 0 0 952
FORECLOSURE NOTICES 21 27 122
BUILDING PERMITS 132 132 1,337
BANKRUPTCIES 11 47 538
BUSINESS LICENSES 0 74 240
UTILITY CONNECTIONS 0 1 338
MARRIAGE LICENSES 0 0 82

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