Four Collierville Office Condos Sell for $900,000
Four office condos in the First Federal Place Condominiums on New Byhalia Road in Collierville have sold for $900,000.
Kia Investments LLC of Germantown bought the condos in a July 18 special warranty deed from BancorpSouth Bank, which foreclosed on the properties in May after the previous owner, L.T. Inc., defaulted on a $1 million loan dated January 2002.
The special warranty deed on the Shelby County Register of Deeds website shows the four condos as having unit numbers of 1, 7-A and 10, and three addresses of 0 New Byhalia Road, 340 New Byhalia Road, 348 New Byhalia Road and 366 New Byhalia Road.
The Class C condos were built in 1990 and sit on the east side of New Byhalia Road north of its intersection with West Poplar Avenue.
Unit 1, which shows only the street name and no number, is a 9,750-square-foot office condo with an appraised value of $661,000, according to the Shelby County Assessor of Property.
Unit 10, whose address is listed as 348 New Byhalia Road, is a 7,020-square-foot office condo with an appraised value of $481,300.
Unit 7-A1, whose address is listed as 340 New Byhalia Road, is a 2,600-square-foot office condo with an appraised value of $174,200.
And Unit 7-A2, whose address is listed as 0 New Byhalia Road, is a 2,600-square-foot office condo with an appraised value of $174,300.
In conjunction with the purchase, Kia Investments filed a $740,000 loan through BancorpSouth Bank. Hussain Chagani signed the trust deed as chief manager of the borrower.
Source: The Daily News Online & Chandler Reports
– Daily News staff
Chief Marketing Officer Leaves First Tennessee Bank
Dan Marks has left his job as chief marketing officer for First Tennessee Bank.
He’s starting a new position as the head of marketing for a division of Sears Holdings. In a note to The Daily News, he described the move as a “great opportunity” to do marketing on a national scale.
“(First Tennessee Bank) is a fantastic company, and I enjoyed my time there,” he wrote. “I will always have fond memories of (First Tennessee), the people, and what we were able to accomplish for our customers, employees, and shareholders. I continue to have many great friends at (First Tennessee) and am excited that the company will soon celebrate its 150th anniversary as a pillar of the community.”
– Andy Meek
Mississippi Casino Revenue Falls 7 Percent in June
Mississippi casino revenue resumed its year-over-year slide in June after showing positive results in May.
Mississippi Department of Revenue figures show statewide casino revenue fell nearly 7 percent from June 2012 to $174.5 million.
The state’s gambling halls eked out a 1 percent gain in 2012, because revenue rebounded after most Mississippi River casinos were affected by 2011’s floods. But year-over-year casino revenue has fallen in 11 of the last 12 months, with May being the exception.
The 18 river casinos from Tunica to Natchez won $89.3 million, down 8 percent from June 2012. The 12 coastal casinos won $85.2 million from gamblers, down 5.2 percent from January 2012.
The numbers exclude Choctaw Indian casinos, which aren’t required to report winnings to the state.
– The Associated Press
Downtown Memphis Commission Seeks Development Analyst
The Downtown Memphis Commission is seeking a planning and development analyst. The planning and development analyst manages the organization’s research needs and prepares demographic reports and market studies.
The position also requires the ability to prepare grant applications, oversee the collection and analysis of market, census, housing, tax and land use data.
Another key portion of the job would be identifying and documenting vacant properties, unmaintained sidewalks and notifying property owners that are in non-compliance.
To apply, send a resume and cover letter to Jaske Goff, director of development and diversity outreach at the commission, located at 114 N. Main St.
– Amos Maki
BlackGirlsCODE Hosts Workshops in Memphis
The Memphis chapter of BlackGirlsCODE will host workshops next month at the Benjamin L. Hooks Central Library, 3030 Poplar Ave.
Classes will focus on mobile app development with Android AppInventor and feature “tech chats” from inspiring women mobile innovators. BlackGirlsCODE is partnering with Lokion Interactive for the workshops.
Workshops are $35 per child. Registration will begin at 9 a.m. and classes start at 10 a.m. The Aug. 10 workshop is open to girls ages 10 through 12, and the Aug. 24 event is for girls age 13 to 17.
Anyone wanting to volunteer should visit www.blackgirlscode.com to register.
– Andy Meek
Tennessee Drivers Centers Reduce Wait Times in 2013
The wait time at driver service centers in Tennessee decreased slightly for the first six months of this year over the same period last year.
According to the Tennessee Department of Safety and Homeland Security, the average wait time from Jan. 1 to June 30 was 31 1/2 minutes. That is down 2 1/2 minutes from the same period in 2012.
The reduction comes despite an increase in customers served of nearly 5,000.
Commissioner Bill Gibbons said in a news release that reducing wait times is a priority for the department.
The department is in the process of installing new equipment and software that is expected to further reduce wait times. The Driver Services Division also is hiring part-time employees to help the centers at peak hours.
– The Associated Press
Drug Kingpin Petties Returns to Memphis
Memphis drug kingpin Craig Petties has returned to the city after a brief stay in a federal prison transfer center in Oklahoma City.
The Bureau of Prisons inmate locator shows Petties, leader of the largest drug organization ever prosecuted in the U.S. District Court for the Western District of Tennessee, is now in custody at the Memphis Federal Correctional Institution.
And his sentencing before U.S. District Judge Samuel “Hardy” Mays may be soon although there is no sentencing date on Mays’ calendar for Petties, who pleaded guilty to federal racketeering, drug conspiracy and murder for hire charges in 2009 in a secret hearing. The guilty plea was not revealed until court records on the plea were unsealed more than a year later.
As Petties returned to the city this week, prosecutors in the federal case filed their position with the court on a pre-sentence report on Petties.
The report prepared by probation and sentencing officers is not a public court record. But Assistant U.S. Attorney David Pritchard wrote in his July 18 filing that his office has no objections to the findings in the report.
Petties was moved to Oklahoma City and then Memphis from a federal prison in Lower Manhattan after Pritchard filed a sealed motion earlier this month involving Petties.
Petties has been in federal custody since January 2008 when he was captured in Mexico.
– Bill Dries