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VOL. 129 | NO. 239 | Tuesday, December 9, 2014

Milhaus Acquires Highland Row Property

By Amos Maki

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44 S. Highland St.; 366, 374 and 380 Ellsworth St.
Memphis, TN 38111
Sale Amount: $4.3 million

44 S. Highland St. and 366, 374 and 380 Ellsthworth St. Memphis, TN 38111

Sale Date: Nov. 26, 2014
Buyer: Highland Row LLC
Seller: Highland Row Land Partners LLC
Details: Indianapolis-based developer Milhaus Ventures has acquired several vacant parcels for the long-awaited Highland Row project near the University of Memphis for $4.3 million.

Milhaus, operating as Highland Row LLC, acquired the properties at 443 S. Highland St. and 366, 374 and 380 Ellsworth St. from Worthington Hyde Partners, operating as Highland Row Land Partners LLC, according to a Nov. 26 warranty deed.

The addresses listed on the warranty deed did not match addresses on the Shelby County Assessor of Property site. The tax parcel numbers listed on the deed returned addresses of 0 Ellsworth and 0 S. Highland. The 0 S. Highland address contains 10 acres and the assessor’s 2014 appraisal is $2.4 million. The assessor’s 2014 appraisal of the 0 Ellsworth address is $210,300.

The mixed-use Highland Row development will include 354 apartments, 35 townhomes, a parking garage and 26,000 square feet of retail space. Memphis-based Poag Shopping Centers, then operating as Poag & McEwen Lifestyle Centers, originally planned to develop Highland Row, but those plans were shelved following the recession.

Worthington Hyde acquired the four addresses listed on the warranty deed, a total of 13 acres, from Poag & McEwen Lifestyle Centers in 2011 for $2.6 million.

11420 Gulf Stream Road
Arlington, TN 38002

Permit Amount: $3 million

Permit Date: Applied December 2014
Owner: W&D Arlington LLC
Tenant: Maines Paper & Food Service Inc.
Contractor: CMC Design-Build Inc.
Details: New construction is planned at the Maines Paper & Food Service cold-storage facility in Arlington.

A $3 million building permit application has been filed with the city-county Office of Construction Code Enforcement for the facility at 11420 Gulf Stream Road, listing the scope of work as “new construction, dry storage.”

The 56,780-square-foot Class A facility, which is owned by W&D Arlington LLC, was built in 1998 and is situated on 6.1 acres at the northeast corner of Gulf Stream Road and Tenn. 385. The Shelby County Assessor of Property’s 2014 appraisal of the site is $2.2 million.

One of the largest independent foodservice distributors in the U.S., Conklin, N.Y.-based Maines generates an annual revenue approaching $4 billion and distributes to single-unit and regional chain restaurants, educational and health care institutions, convenience stores and other outlets spanning 36 states, according to the company’s website.

930 Mason St.
Memphis, TN 38103
Permit Amount: $1.4 million

Application Date: December 2014
Owner/Tenant: Church of God in Christ
Architect: Self Tucker Architects
Contractor: Chris Woods Construction Co. Inc.
Details: The Church of God in Christ’s historic Mason Temple Downtown is about to get a makeover.

The Memphis-based church has applied for a $1.4 million building permit through the city-county Office of Construction Code Enforcement for the “renovation” of an existing two-story structure at 930 Mason St.

Mason Temple is named after COGIC founder Charles Harrison Mason and is the spiritual home of the denomination.

3824 Austin Peay Highway
Memphis, TN 38128
Sale Amount: $1.6 million

Sale Date: Nov. 3, 2014
Buyer: Greater Imani Baptist Church
Seller: Broadmoor Baptist Church
Loan Amount: $2 million
Loan Date: Nov. 3, 2014
Lender: Citizens Savings Bank and Trust Co.
Details: Greater Imani Baptist Church has purchased property from Broadmoor Baptist Church for $1.6 million.

Greater Imani acquired the Broadmoor property at 3824 Austin Peay Highway, according to a Nov. 3 warranty deed. Greater Imani filed a $2 million loan with Citizens Savings Bank and Trust Co. in conjunction with the purchase, according to a deed of trust filed the same day. William A. Adkins Jr., board president for Greater Imani, signed the deed of trust.

The purchase includes two parcels, a 21-acre vacant lot and a four-acre lot that includes two buildings and a parking lot. The Shelby County Assessor of Property’s 2014 appraisal of the properties was a combined $276,000. The Assessor lists the address for the two properties as 0 Austin Peay.

1921 Whitten Road
Memphis, TN 38133

Sale Amount: $2 million

Sale Date: Dec. 1, 2014
Buyer: Bridgestone Retail Operations LLC
Seller: SMBC Leasing and Finance Inc.
Details: A large operator of auto care and tire stores has acquired a Firestone Complete Auto Care location for $2 million.

Bridgestone Retail Operations LLC, which counts four retail brands and 2,200 stores across the U.S. in its portfolio, acquired the Firestone location at 1921 Whitten Road from SMBC Leasing and Finance Inc., according to a Dec. 1 warranty deed.

The auto garage was built on 1.7 acres at Whitten and Raleigh LaGrange Road in 2011. The Shelby County Assessor of Property’s 2014 appraisal is $1 million.

PROPERTY SALES 21 82 6,474
MORTGAGES 7 53 4,088
BUILDING PERMITS 240 353 15,714
BANKRUPTCIES 38 58 3,328