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VOL. 126 | NO. 20 | Monday, January 31, 2011

Daily Digest

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Hickory Hill Warehouse Sells for $11.4 Million

PanCal Eastpark Four 124 LLC, an affiliate of Principal Real Estate Investors of Des Moines, Iowa, has bought a warehouse at 5265 Hickory Hill Road from five tenants-in-common sellers for $11.4 million.

The sellers are CP Hickory Hill 4 LLC (48.4 percent tenant-in-common interest), JV Hickory Hill 4 LLC (21.1 percent), GRP (15.6 percent), DM Hickory Hill 4 LLC (13.5 percent) and JR Hickory Hill 4 LLC (1.4 percent).

A $700,000 building permit was filed by Panattoni Development Co. in 2008 as a tenant build-out for Ozburn-Hessey Logistics LLC.

The 373,330-square-foot warehouse was built in 2003. It sits on a 23.8-acre lot at Hickory Hill and Holmes roads. The Shelby County Assessor of Property’s 2010 appraisal was $11.3 million.

Source: The Daily News Online & Chandler Reports

– Kate Simone

First Tennessee Creates Medical Private Banking

First Tennessee Bank sees banking opportunities in the wake of changes to the health care industry following the enactment of health care legislation. To serve the medical community, the bank has created medical private banking teams that will be based in Memphis, Nashville, Knoxville and northeast Tennessee.

Millions of Americans that will be added to the insurance rolls will bring an increased need for services like cash management, payroll, wealth management services and lending in the medical community.

“With our new medical private banking teams, we want to help make sure our current and potential customers in the medical industry are equipped to operate successfully in the new health-care environment as it unfolds,” said Rhomes Aur, executive VP, private client and wealth management services for First Tennessee.

– Andy Meek

The Venue Awarded for Renovation of the Year

The Venue apartments, 1387 Central Ave., has received the Renovation of the Year Award from the Apartment Association of Greater Memphis.

Properties submitted for judging for the renovations awards are judged on the overall renovation and enhancement of the property, the value of expense that is evident in the photographs and the positive impact the renovation has on prospective residents and retaining current residents.

Jim Kilboy, owner of Praxis Custom Builders, was contracted to renovate The Venue - installing energy-efficient appliances, heating and air conditioning systems upgrades and soft lighting replacements.

“Most don’t realize that mountains of old, soiled carpets are thrown away each year in our nation’s landfills, and the Venue stands out with the green-friendly stained concrete floors that not only save our landfills but are also allergy-friendly,” said Steve Woodyard, president of Woodyard Realty Corp. who manages The Venue. “Given that the majority of our residents are animal lovers, they can rest easy, as well, as any accidents are just a quick cleanup away from being back to new.”

The Venue appeals to the 20- to 45-year-old age group – those seeking an affluent but affordable place to call home.

“One of our radio ads described it as a George Jetson meets Pulp Fiction kind of retro cool,” Woodyard said.

– Sarah Baker

Apperson Crump Adds Aldridge as Partner

Commercial real estate attorney Joe Aldridge has become a partner in Apperson Crump PLC.

Previously, he was a partner in Baskin, McCarroll, McCaskill, Aldridge & Campbell PA in Southaven, and before that was with Wyatt Tarrant & Combs LLP and its predecessors for almost three decades.

Aldridge also practices internationally in financial and corporate reorganization and is of counsel for the law firm of HPL Yamalova & Plewka JLT in Dubai. He’s a graduate of the University of Georgia and University of Virginia School of Law.

– Andy Meek

DAC Fitness to Begin Annual Weight Loss Program

DAC Fitness, a regional fitness management company, will begin its sixth annual DAC’s Biggest Loser Tuesday.

Loosely based on the NBC TV program, it will offer guidance in all areas of a participant’s health, including cardiovascular and strength workouts, nutrition and overall wellness.

In April, winners, determined by the highest percentage of weight lost, will be awarded a one-year membership to DAC Fitness and $750 in personal training.

Registration is open to members and nonmembers at DAC Fitness’ three locations: Laurelwood, 426 S. Grove Park Road; Collierville, 440 W. Powell Road; and Southaven, 3146 Goodman Road.

Cost is $99 for current members in a training program, $300 for members not in a training program and $400 for nonmembers.

For more information, e-mail biggestloser@daclife.com or visit www.daclife.com.

– Taylor Shoptaw

UTHSC Celebrates African-American Achievement

The University of Tennessee Health Science Center, which marks its 100th anniversary this year, is joining the other UT campuses in celebrating 50 years of African-American achievement in 2011.

The yearlong celebration will focus on encouraging African-American alumni-student interactions and on building African-American alumni relations through participation, volunteerism and networking.

“UTHSC has demonstrated a consistent commitment to diversity since the desegregation of the Health Science Center and the Geier Consent Decree,” said Chancellor Steve Schwab. “We continue to be progressive in supporting equal opportunities for African-Americans to succeed in all areas of our institution – from student enrollment and retention, to hiring and retention of faculty and staff.”

UTHSC will host a series of events that includes the Black Student Association Awards Ball on Feb. 26 at the Memphis Marriott Downtown and a celebration luncheon for May. UTHSC will also host a Diversity Day and an alumni-student wine reception at the Stax Museum – both scheduled to take place in the fall.

To learn more, call the UTHSC Office of Equity and Diversity at 448-2112.

– Aisling Maki

21 Chefs Tasting to Benefit United Cerebral Palsy

Chef John Bragg of Circa Restaurant will host 21 Chefs: The Great Chefs’ Tasting Feb. 13 from 3 p.m. to 7 p.m. at the Holiday Inn University of Memphis, 3700 Central Ave.

The evening will highlight Memphis’ locally owned restaurants and chefs and include a silent auction. Guests will have the opportunity to watch hands-on demonstrations by the chefs and vote on their favorite dishes. The tasting will benefit United Cerebral Palsy of the Mid-South.

Tickets are $50 per person and can be purchased by visiting 21chefs.eventbright.com or calling 761-4277. For more information about United Cerebral Palsy of the Mid-South, visit www.ucpmemphis.org.

– Taylor Shoptaw

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