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VOL. 127 | NO. 198 | Wednesday, October 10, 2012

Daily Digest

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Kansas City Company Buys Bartlett Warehouse

A Kansas City, Mo.-based company has bought the 51,040-square-foot warehouse at 3150 New Brunswick Road in Bartlett for $3.2 million.

The entity, 3150 New Brunswick LLC, bought the industrial facility Oct. 1 from Eads-based David Hamilton Family LP.

According to a listing on LoopNet.com, the facility is home to Impact Engineered Labor Solutions and Impact Logistics Inc. Both companies list David Hamilton as the contact with the former listing him as member and the latter listing him as CEO.

Built in 2008, the Class A industrial warehouse sits on five acres on the east side of New Brunswick Road north of U.S. 64 and south of Ellis Road. The Shelby County Assessor of Property’s 2012 appraisal is $2.6 million.

The buyer filed a $3.2 million loan through UMB Bank in conjunction with the purchase. Christopher Cella signed the trust deed as manager of 3150 New Brunswick LLC.

Source: The Daily News Online & Chandler Reports

– Daily News staff

County Commission Ends Redistricting Court Fight

Shelby County Commissioners have dropped their appeal in the Chancery Court lawsuit over redistricting and ended the protracted political dispute.

The commission voted 8-5 Monday, Oct. 8, to drop its appeal of the June ruling by Chancellor Arnold Goldin in favor of a new set of district lines that make the five-district, 13-member commission a body of 13 single-member districts with the 2014 elections.

Goldin made the ruling after the commission could not get the nine-vote majority required to pass the plan or another plan on third and final reading. The nine-vote majority required by the Shelby County Charter since 1993 is not required in state law. But Goldin said his ruling was limited to the redistricting issue.

The commission appealed fearing the nine-vote requirement in the charter is susceptible to further legal challenge by others. But the commission with Monday’s vote opted to give up the appeal, fearing an appeals court judge might take on the charter provision anyway.

The commission also appointed Clay Perry as the new chief administrator of the commission, responsible for the commission’s office staff and day-to-day affairs of running the commission office.

Perry had been deputy administrator under Steve Summerall who retired earlier this year. Perry had been acting administrator since Summerall’s retirement.

– Bill Dries

Flintco LLC Could be Acquired by St. Louis Company

Flintco LLC has signed a “non-binding Letter of Intent” to begin discussions with Alberici Corp., a St. Louis-based construction company, to investigate the possibility of acquiring Flintco.

Founded in 1908, Tulsa, Okla.-based Flintco is the largest general contractor in Memphis. The construction company also has offices in Albuquerque, N.M.; Austin, Texas; Oklahoma City; Sacramento, Calif.; and Springdale, Ark.

Ongoing projects of Flintco locally include St. Jude Children’s Research Hospital’s $198 million tower and the Memphis International Airport’s $90 million Ground Transportation Center. Both are under construction.

Flintco would continue to operate as Flintco, using the Flintco name. Its employees and divisions would all be retained.

There will be a two-month due diligence period to allow Flintco and Alberici to go into greater detail to validate the strategic fit and work out the details of a potential transaction. At the end of this period, if both companies still believe the benefits of the strategy exist, then definitive documents will be prepared that would finalize the sale of Flintco’s shares to Alberici.

Alberici Constructors has offices in Atlanta; Detroit; Hillsdale, Mo.; Topeka, Kan.; Burlington and Cambridge, Ontario; Leon, Mexico; and Saskatoon, Saskatchewan.

– Sarah Baker

Public Housing Experts to Appear at U of M

The University of Memphis Graduate Program in City and Regional Planning will host a symposium Wednesday, Oct. 10, on public housing in America.

The panel of four experts will speak at the University Center from 2 p.m. to 4 p.m. as some in the graduate program have launched a campaign to preserve the city’s last major public housing development, Foote Homes, from demolition.

Memphis Mayor A C Wharton Jr.’s administration favors demolition at some point in the future as the way to convert the site to mixed-use, mixed-income housing, an approach used at the city’s other big public housing developments since the late 1990s.

Speaking on national research about public housing will be Edward Goetz, professor of the Hubert H. Humphrey Institute for Public Affairs at the University of Minnesota; Anne B Shlay, associate professor of geography and urban studies at Temple University; James Fraser, associate professor of human and community development at Vanderbilt University; and Rachel Bratt, professor of environmental policy and planning at Tufts University.

– Bill Dries

Local Red Cross Chapter Taps Lewis as Chair

George “Buck” Lewis, a shareholder in the Memphis office of Baker, Donelson, Bearman, Caldwell & Berkowitz PC, has been named chair of the Mid-South Chapter of the American Red Cross.

Highlights of Lewis’ law career include his having served as president of the Tennessee Bar Association from June 2008 through June 2009. In March 2012, he was appointed by the Tennessee Supreme Court to chair the Tennessee Access to Justice Commission. He also has served as president of the Memphis Bar Foundation.

– Andy Meek

Meningitis Outbreak Deaths Rise to Six in Tennessee

Tennessee Department of Health officials say the state’s death toll from an outbreak of fungal meningitis has risen to six.

Dr. John Dreyzhener, Tennessee’s health commissioner, said Tuesday the total number of cases in the state has increased by four and now stands at 39. The cases all stem from steroid injections for back pain and officials say evidence points to contaminated medicine as the cause of the rare disease.

The outbreak involves 10 states but Tennessee so far has reported the greatest number of cases. The Centers for Disease Control and Prevention said Tuesday that there have been 119 infections and 11 deaths across the nation.

– The Associated Press

PROPERTY SALES 101 603 9,602
MORTGAGES 92 538 10,616
BUILDING PERMITS 215 1,282 20,958
BANKRUPTCIES 51 408 6,108