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VOL. 119 | NO. 26 | Tuesday, February 8, 2005

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3

Kirby Gate Property Financed for $4.1 Million

2715-2725 Kirby Road

Memphis, TN 38119

Cost: $4.1 million

Borrower: 2715 Kirby Parkway LLC

Lender: UBS Real Estate Investments Inc.

Trustee: Security Title Co. Inc.

Property: 2715 and 2725 Kirby Road near Kirby Gate Cove. The property includes two single-story office buildings situated on 3.78 acres and is part of the Kirby Gate Business Center. The transaction marked a refinancing of the property.

Capital Realty Services LLC took over leasing and management of the buildings in June, according to Coleman OKeeffe, the companys president and principal owner.

What weve done is weve built out new spaces as leases have come, OKeeffe said. And its nice for a lot of tenants because it gives them outside signage and sign exposure, visibility to Kirby, front-door parking and easy access to Poplar Avenue and the (state Highway) 385 corridor.

Tenants include the Girl Scout Council of the Mid-South, The Green Clinic, East Memphis Therapy and Volt Services Group.

OKeeffe said Capital Realty Services which is entering its fifth year handles leasing and management of about 2.5 million square feet of office space in Memphis, including properties in Lakecrest Office Park and the Airport Business Park.

 

6.58 acres near

Bromley Lane

Cost: $4.4 million

Borrower: MAC LP

Lender: UBS Real Estate Investments Inc.

Trustee: Joseph B. Pitt Jr.

Property: 6.58 acres near Bromley Lane and Gillespie Road.

 

6161 Shelby Oaks Drive

Memphis, TN 38134

Cost: $2 million

Borrower: 6161 Shelby Oaks LLC

Lender: Belz-Wilson Properties

Trustee: W. Joseph Aldridge

Property: 7.52 acres at 6161 Shelby Oaks Drive near Interstate 40.

 

6161 Shelby Oaks Drive

Memphis, TN 38134

Cost: $1.9 million

Buyer: 6161 Shelby Oaks LLC

Seller: Belz-Wilson Properties

Property: 7.52 acres at 6161 Shelby Oaks Drive near Interstate 40.

 

Properties on Poplar Avenue

and Waldran Boulevard

Cost: $1.9 million

Borrower: Serenity Recovery Centers Inc.

Lender: First Tennessee Bank NA

Trustee: Thomas F. Baker IV

Property: Property at 1080-1094 Poplar Ave. and 217-233 N. Waldran Blvd.

 

41.98 acres near

Reed Hooker Road

Cost: $1.5 million

Borrower: Wynestone Partners

Lender: Renasant Bank

Trustee: Michael J. McCarver

Property: 41.98 acres near Reed Hooker Road and Glen Birnham Road.

 

27 lots in

Arlington Crossing

Cost: $1.2 million

Buyer: Creekside Homes LLC

Seller: Goodwin Henry Properties LLC

Property: 27 lots in phase one, section B of Arlington Crossing Subdivision.

 

15.05 acres near

Shelby Drive

Cost: $1.2 million

Borrower: Concord LLC

Lender: First Tennessee Bank NA

Trustee: Thomas F. Baker IV

Property: 15.05 acres near Shelby and Gertrude drives.

 

34.27 acres in

Wilderwood Estates

Cost: $1 million

Borrower: David Miller LLC

Lender: Community Bank, DeSoto County

Trustee: Douglas R. Beaty

Property: 34.27 acres in Wilderwood Estates Subdivision in Cordova.

 

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 51 333 19,446
MORTGAGES 68 383 22,433
FORECLOSURE NOTICES 0 86 2,922
BUILDING PERMITS 138 688 40,004
BANKRUPTCIES 34 238 12,486
BUSINESS LICENSES 35 108 6,374
UTILITY CONNECTIONS 21 123 7,395
MARRIAGE LICENSES 20 92 4,453