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

Daily Digest

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Riverdale Retail Center Fetches $1.4 Million

A southeast Memphis retail center has been sold for $1.4 million.

City Storage East West Connector LLC sold the retail center at 5144 Riverdale Road to 5144 Realty LLC, according to a Nov. 26 warranty deed. The buyer, 5144 Realty LLC, is affiliated with New York-based Jaran Realty Corp. The seller, City Storage East West Connector, is affiliated with the Kevin Hyneman Cos.

In conjunction with the purchase, 5144 Realty filed a $1 million loan with Banking Consultants of America LLC, according to a Nov. 25 deed of trust.

The 17,220-square-foot shopping center was built in 2004 on the northeast side of Riverdale near the intersection with East Holmes Road. The Shelby County Assessor of Property’s 2014 appraisal is $1.5 million.

Source: The Daily News Online & Chandler Reports
– Amos Maki

Tamp & Tap Preparing East Memphis Location

Tamp & Tap, the popular Downtown restaurant and coffee shop, has applied for a building permit for its East Memphis location.

Tamp & Tap applied for a $244,494 building permit through the Office of Construction Code Enforcement for its location at 6070 Poplar Ave. inside Highwoods Properties Inc.’s Triad Centre III office building in East Memphis.

Earlier this year, Tamp & Tap, located at 122 Gayoso Ave., inked a lease for 2,785 square feet in the office building on Poplar near Shady Grove. Dan Walker Associates Inc. is the contractor, and Graham Reese Design Group is the architect.

– Amos Maki

Saint Francis Hospital Marks 40th Anniversary

Saint Francis Hospital-Memphis is celebrating its 40th anniversary this week with a series of events for employees and the public.

On Tuesday, Dec. 9, Saint Francis will host a private reception for its founders and 40-year employees. And on Friday, Dec. 12, the public is invited to share anniversary cake and memories of the past 40 years in the cafeteria of the East Memphis hospital, 5959 Poplar Ave.

During the celebration week, employees are also undertaking a “40 Acts of Kindness” campaign in which they’ll pledge to perform 40 random acts of kindness throughout the hospital and community.

The 519-bed facility was the first hospital to open in East Memphis at a time when hospitals were in the city’s Medical Center.

– Bill Dries

Isner Commits to Play Memphis Open

The United States Tennis Association has announced top-ranked American John Isner has become the second Top 20 player to commit to the Memphis Open, joining 2014 U.S. Open finalist and two-time defending champion Kei Nishikori in the player field.

Isner’s best performance in Memphis to date came in 2010, when he reached the singles final against fellow American Sam Querrey. That same year, Isner and Querrey teamed to win the Memphis doubles title.

The ATP World Tour 250 tennis tournament will be played Feb. 7-15 at The Racquet Club of Memphis, with a 28-player singles draw and a 16-team doubles draw. Box seat and ticket packages can be purchased at memphisopen.com or by calling 855-307-1981.

Tickets for individual daily sessions will go on sale Jan. 5.

– Don Wade

Memphis Software Firm Changes Name

Business software firm Business Advantage is changing its name to Lumatrak, the firm has announced.

According to Lumatrak founder and CEO Steve Redden, the change in name reflects the Memphis-based company’s sharpening focus on value chain software services.

Lumatrak’s roots go back to the founding of HiTech Data in 1983. At that time, the company focused on data communications and computer networks.

Working with one of the world’s largest retailers, Lumatrak introduced its end-to-end supply chain visibility software solution in 2008.

– Andy Meek

Guard Jordan Adams Recalled by Grizzlies

The Memphis Grizzlies have recalled guard Jordan Adams from the NBA Development League’s Iowa Energy, the Grizzlies’ exclusive D-League affiliate. Adams began his second assignment with Iowa on Nov. 25.

Adams has averaged 14.8 points and 6.5 rebounds on 42.2 percent shooting in 30.0 minutes in four games for Iowa, including three double-digit scoring efforts. The 20-year old has recorded 1.5 points and 1.3 assists in 10.3 minutes through four appearances for the Grizzlies this season.

The Atlanta native was selected by Memphis in the first round (22nd overall) of the 2014 NBA Draft after two seasons at UCLA (2012-14).

– Don Wade

Allen Morgan Health Center Receives 5-Star Rating

The Centers for Medicare and Medicaid Services have given the Allen Morgan Health Center at Trezevant a five-star quality rating – the highest possible designation for a nursing home facility.

The ratings are a tool for millions of senior Americans and their families in search of a nursing home. Nursing homes with five stars are considered to have much above average quality care, according to Centers for Medicare and Medicaid Services rating system.

The Centers for Medicare and Medicaid Services is the federal agency that sets and enforces quality standards for all nursing homes enrolled in Medicare or Medicaid. They rate facilities nationwide on a scale of one to five stars, based on the ratings in three different areas of performance: health inspections, nurse staffing and quality measures.

Trezevant, a continuing care retirement community at 177 N. Highland St., recently underwent a $120 million renovation and expansion project.

– Don Wade

Haslam Addresses Public Safety Summit

While there's been progress in making Tennessee a safer state, much remains to be done, particularly on domestic violence, Gov. Bill Haslam said Monday.

The Republican governor kicked off a public safety summit in Nashville that also focused on Tennessee's sentencing laws, homeland security concerns, drug abuse and trafficking and other issues.

Haslam created his public safety subcabinet about four years ago to coordinate efforts to make Tennessee safer.

Since 2010, the governor said reported domestic violence offenses in Tennessee have decreased nearly 14 percent. Last year, Tennessee was ranked the 10th highest in the nation for the rate of women killed by men.

"I'll be really clear, they're still too high," Haslam said. "But a 14 percent decrease is a good place to start."

As part of the effort to reduce domestic violence, lawmakers approved mandatory sentences for repeat offenders.

Some legislators say they plan to introduce a bill during their upcoming session that would require people arrested on domestic violence charges to remain incarcerated for at least 12 hours.

– The Associated Press

More Americans to Buy Homes with 3 Percent Down

More Americans will soon be able to buy a home with a down payment as low as 3 percent, the mortgage giants Fannie Mae and Freddie Mac say.

The new lending guidelines being announced by the companies are designed to help more low-income and first-time buyers afford homes. Millions of Americans lost their savings or no longer had the income needed to set aside money for a home in the aftermath of the 2008 financial crisis and the Great Recession.

The guidelines are designed to prevent the kind of reckless lending that fueled a housing bubble and eventually triggered the recession. Borrowers must have enough income to repay loans on a monthly basis for homes that would be their main residence. This guideline would be intended to limit financial speculation.

– The Associated Press

Publisher Hopes to Sell Books Through Twitter

A leading book publisher is hoping that Twitter will not only help promote books, but sell them directly.

Hachette Book Group announced Monday that it has teamed with the e-commerce platform Gumroad. The deal will allow Twitter users to purchase print editions of selected works by clicking on buy buttons from within authors' tweets.

The books include Amanda Palmer's "The Art of Asking," former astronaut Chris Hadfield's "You are Here" and "The Onion Magazine: The Iconic Covers That Transformed an Undeserving World." The three Twitter feeds each have more than 1 million followers.

– The Associated Press

PROPERTY SALES 64 151 1,493
MORTGAGES 45 105 1,152
BUILDING PERMITS 201 410 3,466