VOL. 126 | NO. 10 | Monday, January 17, 2011
Memphis Real Estate Recap
Real Estate Recap
Civil Rights Museum Files Permit for Phase One Redesign
450 Mulberry St.
Memphis, TN 38103
Permit Amount: $1 million
National Civil Rights Museum
Permit Date: Applied January 2011
Owner: State of Tennessee
Tenant: National Civil Rights Museum Foundation
Architect: Self Tucker Architects Inc.
Details: The National Civil Rights Museum has filed a $1 million permit application for renovations it originally previewed last year.
The permit, filed with the city-county Office of Construction Code Enforcement, covers phase one, including “demolition of interior walls, roof and slab of the existing Lorraine Motel,” “rebuilding of the motel to include the collection storage of first floor” and “expanded exhibit on second floor.”
As announced in October, the updated museum will include a redesigned auditorium, a new floor plan, more interactive technology and a mezzanine overlooking the lobby. The plans also include an education center and more use of videos to explain the history of Memphis and the civil rights movement.
The designer, as announced in October, is Howard+Revis Design Services of Washington. The architect is Memphis-based Self Tucker Architects Inc.
2781 Democrat Road
Memphis, TN 38118
Permit Amount: $1.3 million
Project Cost: $1.3 million
Permit Date: Applied January 2011
Owner: FedEx Express
Tenant: FedEx Express
Details: FedEx Express has filed a $1.3 million permit with the city-county Office of Construction Code Enforcement to build a screening building, pedestrian bridge and stair tower at its Super Hub, 2781 Democrat Road, adjacent to Memphis International Airport.
This latest improvement is part of a larger expansion of the Super Hub, the busiest sorting facility in FedEx Express’ global network.
The permit lists a two-story brick “main screening building,” a “pedestrian bridge over Democrat” and a brick “north stair tower” at the entrance to the main facility.
It follows a host of other permits the company has filed in the past year.
FedEx last fall filed two permits for a $2 million fuel center and a $1.5 million recycling center, both of which are relocations as part of the larger facility expansion.
“With the expansion, we are having to actually move different buildings on the Memphis hub property,” spokeswoman Sally Davenport told The Daily News in November.
37 lots in
Wolf River Ranch
Sale Amount: $2.3 million
Sale Date: Dec. 29, 2010
Buyer: Hallmark Builders Inc.
Seller: ECG Memphis LLC
Details: Hallmark Builders has bought 37 lots in Wolf River Ranch from Nashville-based ECG Memphis LLC for $2.3 million.
The purchase includes 20 lots in phase IV and 17 lots in phase VII in the Collierville subdivision.
Both phases are on the north side of Wolf River Boulevard northwest of its intersection with Byhalia Road.
The lots are part of property ECG bought Dec. 28 from BCCTT LLC in a sale in lieu of foreclosure, according to sale documents.
Cordova-based Hallmark Builders Inc. currently has a presence in Wolf River Ranch, as well as Windsor Place in Arlington, Crystal Lake in Collierville, The Vinings at Germantown and Arlington Oaks.
15 Addresses In
Sale Amount: $1.3 million
Sale Date: Jan. 5, 2011
Buyer: Nabsal Enterprises LLC
Seller: BancorpSouth Bank
Loan Amount: $1.2 million
Loan Date: Jan. 5, 2011
Maturity Date: Jan. 5, 2016
Details:BancorpSouth Bank has sold to Nabsal Enterprises 15 properties it received via foreclosure sales in 2010.
The properties belonged to David Miller LLC before BancorpSouth foreclosed on them.
Nabsal paid $1.3 million for the bundle of properties, financing the purchase with a five-year, $1.2 million loan through BancorpSouth.
The addresses include 1189 Clear Creek Road in Collierville; 10228 Bloomsbury Ave. in Cordova; 1133, 1141, 1147 and 1153 W. Cortona Circle in Cordova; 2721 Green Turtle Trail in Cordova; 3430 Ivy Lake Cove in Bartlett; 7936 and 7942 Ivy Lake Lane in Bartlett; 5983 Prairie Cove in Millington; 9549 Misty Knoll Drive in Cordova; 6000 E. Wagon Hill Road in Millington; 5967 W. Wagon Hill Road in Millington; and 9541 Morning Shadow Drive in Memphis.
Nabsal Enterprises lists its address as a Bartlett P.O. box.
Vacant parcel on
Walnut Grove Road
Sale Amount: $1.4 million
Sale Date: Dec. 30, 2010
Buyer: Orleans Apartment Community LLC
Seller: Jim D. Ethridge
Details: Arlington-based Orleans Aparment Community LLC has bought vacant land on Walnut Grove Road from Jim D. Ethridge for $1.4 million.
The lot is an unspecified portion of 62.7 acres in Woodland Hills II Planned Development.
The larger parcel is on the north side of Walnut Grove Road between Rocky Point Road to the west and North Houston Levee Road to the east.