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VOL. 119 | NO. 109 | Wednesday, June 22, 2005
Jabil Memphis Plans
Summit Hotel Properties
Buys Two Memphis Hotels
Summit Hotel Properties LLC has purchased a Residence Inn at
9314 Poplar Pike for $5 million and a Fairfield Inn at 9320 Poplar Ave. for
$2.8 million from ER Johnson Road Hotel Investors LLC. Summit financed the
properties for $6.4 million and $3.6 million, respectively, through First
National Bank of Omaha. The hotels were completed in 1999.
Source: The Daily News Online & Chandler Reports
Jabil Memphis Plans
to Grow Memphis Plant
Florida-based Jabil Circuit Inc. plans to add 500
people to its Memphis staff by years end, the company announced. Jabil Memphis, which provides design, manufacturing and product
management services to global electronics and technology companies, is
expanding its operations to support manufacturing, assembly and material
handling of electronic cash registers and self-serve kiosks for an unnamed
client. Jabil plans to more than double the size of
its Memphis facility, located at 5238 Lamar Ave.
Memphis International
to Install Surveillance System
Memphis International Airport
plans to install an Aviation Perimeter Intrusion Detection System
developed by Stanley Security Solutions Inc. to enhance perimeter security and
protect against threats to the airport and arriving and departing aircraft. The
system will feature software by Reston, Va.-based ObjectVideo
that will be integrated with closed-circuit TV cameras to detect threats along the
airports 34,000-foot fenced perimeter.
May Home Sales
Rise by 11.2 Percent
Memphis-area home sales increased
by 11.2 percent to 1,589 in May from 1,429 in May 2004, the Memphis Area
Association of Realtors reported. Median sales price rose 7.8 percent to
$138,000 and average price rose 10.2 percent to $166,400 from the same period
in 2004, according to MAAR.