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VOL. 119 | NO. 66 | Tuesday, April 12, 2005

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Lakeland Factory

Lakeland Outlet Mall Sells for $4 Million

Lakeland Factory

Outlet Mall

Cost: $4 million

Buyer: Lakeland Station LLC

Seller: Chelsea Memphis Holdings LLC

Property: The Lakeland Factory Outlet Mall, including an access road and an annex parcel, which sits on 34.39 acres at 3536 Canada Road.

The mall property contains two buildings. The main one, built in 1979, is anchored by Old Time Pottery. The annex, built in 1996, contains a Nike Factory Outlet, among other stores.

The property buyer, Lakeland Station LLC, is managed by Gilad Development Corp., a Utah company. Yehuda Netanel, president of Gilad, said the company is looking at possibilities for the mall.

We will let the public know when our plan becomes available, but currently we are managing the property as-is.

The mall was purchased by Chelsea Memphis Holdings in July 2003 for $3.5 million, according to Chandler Reports, www.chandlerreports.com, which is owned by The Daily News Publishing Co.

All I can tell you at this time is that were excited about the possibilities and were still in the process of carefully evaluating and weighing our options, Netanel said.

 

Lakeland Factory

Outlet Mall

Cost: $3.2 million

Borrower: Lakeland Station LLC

Lender: Sun Life Assurance Co. of Canada

Trustee: William B. Drescher

Property: 34.39 acres including an access road and an annex parcel at 3536 Canada Road.

 

Properties at 11

Memphis addresses

Cost: $5 million

Buyer: FRIF CHKN LLC

Seller: AFC Enterprises Inc.

Property: Properties at 11 addresses, including parcels on Elvis Presley Boulevard, Third Street and Chelsea Avenue.

 

8088 U.S. Highway 51 N.

Millington, TN 38053

Cost: $4.2 million

Buyer: 7994 Highway 51 Associates LLC

Seller: WN Highway 51-Easley

Property: 1.81 acres at 8088 U.S. Highway 51 N. near Easley Road.

 

7994 U.S. Highway 51 N.

Millington, TN 38053

Cost: $3.1 million

Borrower: 7994 Highway 51 Associates LLC

Lender: LaSalle Bank NA

Trustee: Mid-South Title Corp.

Property: 1.81 acres at 8088 U.S. Highway 51 N. near Easley Road.

 

1010-1034 N. Germantown Parkway

Memphis, TN 38133

Cost: $4 million

Buyer: Kisber Enterprises II LLC

Seller: Cordova Station (25 percent interest), J.L. Stafford LLC (37.5 percent interest) and H.J. Trulove LLC (37.5 percent interest)

Property: Property at 1010 and 1034 N. Germantown Parkway in Cordova Station Planned Development.

 

1010-1034 N. Germantown Parkway

Memphis, TN 38133

Cost: $2.7 million

Borrower: Kisber Enterprises II LLC

Lender: First Tennessee Bank NA

Trustee: Thomas F. Baker IV

Property: Property at 1010 and 1034 N. Germantown Parkway in Cordova Station Planned Development.

 

4.35 acres near

Trinity Road

Cost: $2.7 million

Borrower: Trinity Ridge Partners

Lender: First Alliance Bank

Trustee: W. Terry Edwards

Property: 4.35 acres near Trinity Road and the Trinity Ridge Business Park.

 

4.21 acres near

Wolf River Boulevard

Cost: $2.3 million

Borrower: Landstone Greenbriar Partners LLC

Lender: Western-Southern Life Assurance Co.

Trustee: Martin Simmons

Property: 4.21 acres near Wolf River Boulevard and Kimbrough Road.

 

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 77 286 16,478
MORTGAGES 95 347 19,032
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 176 569 33,695
BANKRUPTCIES 59 183 10,920
BUSINESS LICENSES 20 77 5,275
UTILITY CONNECTIONS 0 102 11,446
MARRIAGE LICENSES 27 97 3,964

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