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VOL. 124 | NO. 82 | Tuesday, April 28, 2009

Tabor Orthopedics to Renovate Newly Purchased Office Building

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1244 Primacy Parkway
Memphis, TN 38119
Permit Amount: $1.5 Million

Project Cost: $1.5 million
Permit Date: Applied April 2009
Completion: October 2009
Owner: Primacy Partners LLC
Tenant: Tabor Orthopedics
Contractor: Grinder, Taber & Grinder Inc.
Architect: Archimania

Details: Tabor Orthopedics has filed a $1.5 million permit application with the city-county Office of Construction Code Enforcement to remodel its recently acquired property at 1244 Primacy Parkway in the Quince/Ridgeway area of East Memphis.

Primacy Partners LLC – whose principal is Tabor orthopedic surgeon Dr. Owen B. Tabor Jr. – bought the medical office building in February for $2.4 million from State Farm Mutual Automobile Insurance Co. of Bloomington, Ill.

Tabor Orthopedics had been looking for a new building since outgrowing its current space on the sixth floor of a medical building on the Saint Francis Hospital campus at 6005 Park Ave., a clinic employee said.

The clinic had been operating there since Dr. Owen Tabor Sr. formed the clinic in 1998. As Tabor Orthopedics grew from a one-doctor practice to a five-doctor practice with more staff, the need for a larger space became apparent.

In addition to being larger, the Primacy Parkway location allows for easier access and convenience for patients.

The one-story, 16,772-square-foot building, completed in 1991, sits on 2.51 acres on the east side of Primacy Parkway, which runs between Park Avenue and Ridgeway Road. The Shelby County Assessor of Property’s 2009 appraisal is $2.2 million.

Tabor Orthopedics also operates an office at 2996 Kate Bond Road in Bartlett.

231 Court Ave.
Memphis, TN 38103
Permit Amount: $3.5 Million

Project Cost: N/A
Permit Date: Applied April 2009
Completion: TBA
Owner: AT&T
Tenant: AT&T
Contractor: Nabholz Construction Corp.
Architect: Alsbrooks Architects Inc.

Details: AT&T has filed a $3.5 million permit application to renovate and remodel its buildings at 201 and 231 Court Ave. The permit, filed with the city-county Office of Construction Code Enforcement, lists only the 231 Court Ave. address, although a company spokeswoman said most of the work is being done on the neighboring building. “We are currently renovating the AT&T building at 201 Court St. and upgrading the network infrastructure systems, which also include fire system monitoring and alarming,” said Cathy Lewandowski, the Nashville-based market manager for AT&T’s Tennessee/Kentucky region. “This is a multiyear project renovation, which also involves enhancement of the overall appearance of the building.” The properties are listed by the Shelby County Register of Deeds as 195, 209, 217 and 223 Court Ave. Details on those properties were not available through the register’s or assessor’s Web sites.

Lewandowski couldn’t disclose the project cost, but she said the company is renovating 216,000 square feet of space that contains AT&T offices and service equipment.

5684 Summer Ave.
Memphis, TN 38134
Loan Amount: $1.9 Million

Loan Date: April 15, 2009
Maturity Date: April 15, 2014
Borrower: Kevin W. Wright and Mary K. Wright
Lender: First Tennessee Bank NA

Details: The owners of Quantum Home Showrooms have filed a $1.9 million loan for a neighboring property along Summer Avenue, which has been converted into a showroom for Incognito Custom Closets. Kevin W. Wright and Mary K. Wright took out the loan for 5684 Summer Ave., formerly the home of Your Backyard, April 15 through First Tennessee Bank NA. When Your Backyard closed recently, the Wrights moved Incognito Custom Closets into the 14,480-square-foot space, a Quantum Home Showroom employee confirmed. The 5684 Summer Ave. building was completed in 1998 and sits on 0.57 acres at Summer and Summer Trees Drive. The Shelby County Assessor of Property’s 2009 appraisal is $574,000. Quantum Home Showrooms is next door at 5690 Summer Ave. That 43,775-square-foot showroom is home to a collection of providers and suppliers who helped build the “Quantum” house at 1800 Overton Park in Midtown. In addition to Incognito, Quantum companies include Bath Odyssey, Distinctive Grip Decorative Hardware, Kevin Wright Plumbing, Lighting Galleria, Memphis Sight and Sound, Lighthouse Generators, Andersen Windows, Quantum Entries, Tuscany Tile & Stone, Age with Dignity, Green Team and Quickbath.

543 Mallory Ave.
2385 Riverport Road

Memphis, TN 38109

Permit Amounts: $1.4 Million, $887,300 and $200,000
Project Cost: N/A
Permit Date: Applied April 2009
Completion: TBA
Owner: Valero Energy Corp. and Valero Refining Co.
Tenant: Valero Energy Corp. and Valero Refining Co.
Contractor: Grinder-Haizlip Construction Co. Inc.

Details: Valero Refining Co. and Valero Energy Corp. last week filed three permit applications totaling $2.5 million with the city-county Office of Construction Code Enforcement to install new foundations and buildings at the Valero refinery at 543 Mallory Ave. off Interstate 55 near Downtown. The specific permits were as follows: a $200,000 permit filed on behalf of Valero Energy Corp. at 543 Mallory Ave. for a metal building; a $1.4 million permit filed on behalf of Valero Refining Co. at 2385 Riverport Road to install foundation for a new unit; and an $887,300 permit filed on behalf of Valero Refining Co. at 2385 Riverport Road to install structural steel for new unit. Attempts to reach Valero for comment on these projects were unsuccessful. The contractor of record, Memphis-based Grinder- Haizlip, was unable to discuss the projects. San Antonio-based Valero Energy acquired the Memphis refinery in 2005. The company has invested more than $245 million “upgrading it to a modern and highly efficient facility,” according to the company’s Web site. “Crude oil is supplied to the refinery through the Capline Pipeline and can also be transported, along with other feedstocks, by barge. Products primarily are distributed via truck-loading racks at three product terminals, barges, and a pipeline directly to the Memphis airport,” the site reads.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 76 145 2,480
MORTGAGES 65 148 3,042
FORECLOSURE NOTICES 16 24 501
BUILDING PERMITS 213 310 5,313
BANKRUPTCIES 43 87 1,866
BUSINESS LICENSES 14 40 936
UTILITY CONNECTIONS 23 52 1,064
MARRIAGE LICENSES 8 21 364

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