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VOL. 126 | NO. 71 | Tuesday, April 12, 2011

Daily Digest

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Houston Levee Shopping Ctr. Sells for $525,000

A N Investments LLC has bought a neighborhood shopping center from Regions Bank for $525,000. The deal closed April 1 and was financed with a $420,000 loan through First Tennessee Bank NA.

The property includes a 26,000-square-foot shopping center built in 2004 on 1.9 acres at the southeast corner of North Houston Levee Road and U.S. Highway 64 in Houston Levee Trails Planned Development.

Regions Bank received the property for $712,000 in a foreclosure sale in August 2010. The sale occurred because the previous owner, South 64 Joint Venture, defaulted on an August 2003 loan through Regions.

The 1.9-acre parcel is part of a 5.6-acre site that’s since been subdivided. The Shelby County Assessor of Property’s 2010 appraisal of the building and larger parcel was $1.1 million.

Source: The Daily News Online & Chandler Reports

– Kate Simone

CCRFC to Act On Financing Amendments

The Center City Revenue Finance Corp. board of directors takes up two items at its Tuesday meeting involving a Mud Island apartment complex and the Gibson Guitar plant located south of Beale Street.

The board meets at 9 a.m. at Center City Commission headquarters, at 114 N. Main St.

The agenda includes a resolution to amend the terms of the 1990 multifamily housing revenue refund bonds for the Arbors of Harbor Town project on Mud Island.

The amendment permits the sale of the bonds in lieu of their redemption.

The CCRFC will also consider amending the lease agreement it has as part of the payment-in-lieu-of-taxes agreement with Gibson Guitar Corp. for the guitar plant at 145 Lt. George W. Lee Ave.

The CCRFC owns the building under terms of the PILOT, and Gibson leases it from the CCRFC. Gibson is refinancing a loan from Bank of America and the new terms of that require amendments to the deeds of trust.

– Bill Dries

Operation Safe Community Stats Show Changes in Crime

Major violent crimes in Shelby County took a 5.6 percent jump in the first two months of 2011 compared to January and February of 2010.

But major property crimes decreased by 13 percent, according to statistics released Monday by Operation Safe Community.

The anti-crime coalition released figures reported to and maintained by the Tennessee Incident Based Reporting System maintained by the Tennessee Bureau of Investigation.

Two more homicides, eight more robberies and 75 more aggravated assaults accounted for the overall increase.

Operation Safe Community also tracks crime statistics since 2006, which is when the Memphis Police Department began its Blue C.R.U.S.H. statistics-driven approach to crime and the coalition began its work.

By that standard, major violent crime countywide was down 29 percent and major property crimes were down 39.7 percent.

The TBI statistics for the city of Memphis showed the same general trend, with major violent crime up 6.7 percent compared with the first two months of 2010 but down 29.5 percent compared with 2006. And major property crimes were down 9.5 percent from January and February of 2010, with a 38.7 percent decrease compared to 2006.

– Bill Dries

MAAR to Host Midtown Real Estate Forum

The Memphis Area Association of Realtors is continuing its real estate forum tour, with the next one planned for April 20 from 6 p.m. to 7:30 p.m. at the Memphis Leadership Foundation, 1548 Poplar Ave.

Real estate professionals from the Midtown area, along with MAAR’s information and research director, will offer information on the state of real estate in the Midtown area and will answer questions from the public.

The forum is open to all Midtown residents and is intended to offer localized information on the real estate industry from professionals who have a concentration of experience in that specific area of Memphis.

“Real estate is local so this will be a great opportunity for Midtown residents to learn more about the Midtown housing market,” MAAR president Leon Dickson said in a statement. “We will have data specific to Midtown, and Realtors who understand the Midtown market will be available to answer questions from citizens.”

Submission of questions prior to the event is encouraged. Questions can be emailed to don.wade@maar.org or posted to MAAR’s Facebook page at www.facebook.com/memphisrealtors.

– Sarah Baker

Freewheelin’ Franks Store is on the Sales Block

After almost four decades in business, Frank Evans is moving on.

Freewheelin’ Franks, his offbeat store known for selling things such as rock ‘n’ roll memorabilia and tie-dyed shirts, is for sale.

If you’ve got 60 grand you’re not doing anything with, you can have it.

Evans stresses his store at 950 N. Germantown Parkway in Cordova is for sale – not necessarily closing.

The “for sale” sign hangs in the window, partially hidden by a row of tie-dyed fabrics that frequently flap in the breeze.

“There’s been a few people expressing some interest, but they say they’ll come back when the economy gets better,” Evans said. “But when the economy gets better, I’ll sell it for $100,000.”

– Andy Meek

Howell CEO Leverages Twitter for Big Opportunities

Howell Marketing Strategies CEO Amy Howell, a consistent champion of the benefits of Twitter, has found several high-profile opportunities in recent days to benefit from the micro-blogging site.

Later this week, she’ll be among the Twitterati at “Social Slam 2011” (#SoSlam), the confab of power Tweeters in Knoxville presented by Knoxville’s Social Media Club.

Also on hand for the event will be Eric Epperson, vice president of corporate culture and communications for Pinnacle Airlines Corp.

In a recent blog post, Howell said the event sold out at 400 tickets but could have continued selling as many as 600.

“This has been an inspiration to me and is another great example of the very important people I am meeting through Twitter,” Howell wrote.

Last week, Howell attended a Ragan Communications event in New York City at the invitation of Ragan CEO Mark Ragan that culminated in Howell joining Ragan and others in ringing the closing bell at the NASDAQ stock market Friday afternoon.

– Andy Meek

Campbell Clinic to Expand After Hours Clinic’s Hours

Campbell Clinic’s After Hours Clinic will open on Saturdays from 8 a.m. to 11 a.m. beginning April 23.

Campbell Clinic’s After Hours Clinic, 1400 S. Germantown Road, provides the same services as the regular clinic, assisting those with strains, sprains, breaks, fractures and other injuries on a walk-in basis with no appointment necessary.

“The response to the opening of our After Hours Clinic two years ago has been phenomenal,” said Campbell Clinic CEO George Hernandez in a statement.

The After Hours Clinic is open Monday through Thursday from 5 p.m. to 8 p.m.

– Taylor Shoptaw

Tenn. Shakespeare Co. Announces Summer Camps

The Tenn. Shakespeare Co. is accepting applications for its three immersive Summer Play Camps, which will be at Germantown High School in June and July.

Camps include “The Play’s the Thing: One Week,” “Young Players Training Intensive: Two Weeks” and “Young Company: Two Weeks.”

Activities include training and rehearsing, participating in sessions of Elizabethan dance, movement, stage combat, text work, scene play and soliloquy, depending on which camp is attended.

“The Play’s the Thing” and “Young Players Training Intensive” are offered to students entering grades six to 12, and “Young Company” is offered for serious actors ages 18 to 24.

More information can be found by visiting www.tnshakespeare.org.

– Allison Buckley

MORTGAGES 80 320 1,066
BUILDING PERMITS 120 590 2,248