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VOL. 129 | NO. 15 | Thursday, January 23, 2014

Daily Digest

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Former Motel 6 Sells for $1.4 Million

The former Motel 6 at 1321 Sycamore View Road in Northeast Memphis has traded hands for $1.4 million.

An entity called P & S Hospitality LLC bought the 27,232-square-foot motel in a Jan. 14 special warranty deed from G6 Hospitality Property LLC, which had bought the property in 2012 for $1.4 million from Motel 6 Operating LP.

Built in 1985, the hotel sits on 2.4 acres on the west side of Sycamore View Road south of its intersection with Macon Road. The Shelby County Assessor of Property’s 2013 appraisal was $1.2 million.

In conjunction with the purchase, P & S Hospitality LLC filed a $1.1 million deed of trust through Argent Bank. Jetal R. Shah signed the deed as managing member of the borrower.

Source: The Daily News Online & Chandler Reports

– Daily News staff

Belz Launches Brand Management Venture

Belz Enterprises has established a new venture, Peabody Hotels & Resorts, that moves the company into asset and brand management within the luxury hotel space.

The transition has been in the works for a few years, and through it, the new venture will begin researching and evaluating properties that could become Peabody-branded hotels.

Under the management of Belz’s new venture, properties would take the Peabody name and adopt its core standards, values and traditions. And like the flagship Peabody property in Memphis, each hotel would serve as the home for its own group of five North American mallard ducks, continuing the Peabody’s 80-year tradition of the March of the Peabody Ducks.

– Andy Meek

Memphis Medical Society Names Board Chairman

Dr. Gary W. Kimzey, an anesthesiologist at Medical Anesthesia Group, has been named the 137th president of the Memphis Medical Society.

Kimzey and other officers and newly elected members of the 2014 board of directors will be installed on Saturday, Jan. 25, at the Memphis Marriott East. The event begins with a 6 p.m. cocktail reception.

Kimzey is a 1969 graduate of Christian Brothers High School and a 1973 graduate of the University of Tennessee, Martin. He received his medical degree in 1977 from the University of Tennessee-Memphis. Kimzey is a fellow with the American Society of Anesthesiologists.

– Don Wade

Apartment Association Honors Woodyard Realty’s Barnes

Courtney Barnes of Woodyard Realty Corp. won the Associate Member of the Year award at the Apartment Association of Greater Memphis Diamond Achievement Gala.

Barnes, who was named Newcomer of the Year at the 2005 Pinnacle Awards commercial real estate ceremony, specializes in apartment sales and sales training for apartment owners.

Barnes’ involvement with the Apartment Association has included serving on the board of directors, assisting with the annual golf scramble and teaching educational classes at the association.

– Amos Maki

Medical Job Fair Planned for Jan. 28

Memphis-based medical device manufacturer Onyx Medical Corp. will hold a job fair Tuesday, Jan. 28, from 3 p.m. to 7 p.m. at 1800 N. Shelby Oaks Drive.

Hourly and salaried positions under consideration include skilled machinists and machine operators, a quality technician and a software developer. Job descriptions, qualifications and applications are available at onyxmedical.net.

Space is limited to the first 100 qualified applicants. Call 323-6699 for more information.

– Don Wade

UTHSC Plans Open House for Prospective Students

The College of Allied Health Sciences at the University of Tennessee Health Science Center will host an open house for prospective students Friday, Feb. 21, from 2 p.m. to 4 p.m.

The event, to be held in the lower-level auditorium of the Student-Alumni Center, 800 Madison Ave., will provide information to individuals interested in learning more about educational programs for careers in allied health.

Prospective students will have the opportunity to talk with UTHSC allied health sciences faculty and students, tour teaching labs, and meet with representatives from the financial aid and admissions departments. College-level prerequisite coursework is required prior to admission to all UTHSC Allied Health Sciences programs.

To RSVP for the open house, email ahcareers@uthsc.edu or call 448-2126.

– Don Wade

Council OKs Street Closures in Washington Bottoms

The Memphis City Council approved Tuesday, Jan. 21, a set of six alley and street closures on parcels totaling 28 acres in the Poplar Avenue-Cleveland Street area. The area, once known as Washington Bottoms, was cleared of buildings in 2008 in anticipation of redevelopment by a Memphis division of WSG Development Co. of Miami Beach, Fla.

WSG took out a $14 million construction loan for the project through Lehman Brothers Holdings, but after the economic downturn, Lehman Brothers foreclosed on the property and took control of it in 2010.

The council on Tuesday approved Lehman’s application for the same street and alley closures it had approved for WSG. Tuesday’s approval is good for three years.

The council also approved accepting $7.6 million in federal grant funding for the design and construction of improvements to Forest Hill-Irene Road from Walnut Grove Road to Rocky Point Road, and $661,795 in state funds for Walker Avenue streetscape improvements near the University of Memphis campus.

And the council approved a resolution by council member Myron Lowery that calls on the Shelby County Election Commission to have an effective and capable administrator.

Lowery originally offered a “no confidence” resolution targeting Shelby County Elections Administrator Richard Holden, similar to one approved by the Shelby County Commission last year.

– Bill Dries

Proposed Supermarket Wine Deal Draws Criticism

A proposed deal to allow supermarket wine sales in Tennessee is drawing criticism for trying to exclude big box retailers and convenience stores.

Supporters of the measure seeking to authorize cities and counties to hold referendums on supermarket wine sales have been heartened by the liquor industry lobby for the first time engaging in serious negotiations over the perennial bill.

But a proposal to require a minimum percentage of sales to be made up by groceries in order to gain a license to sell wine has drawn the ire of big retailers such as Wal-Mart and smaller convenience stores.

Wal-Mart spokeswoman Anne Hatfield said in an email that company is calling for legislation that “does not arbitrarily limit our ability to offer customers the convenience and product assortment they want.”

Rep. Jon Lundberg, R-Bristol and a main sponsor of supermarket wine sales, said Tuesday that he’s wary of setting up free-market barriers.

David McMahan, a lobbyist for the Tennessee Wine and Spirits Retailers Association, said restricting wine sales to traditional supermarkets would fulfill the public demand for picking up a bottle while grocery shopping, while at the same time keeping the state’s about 600 liquor stores from being driven out of business.

Randy Stepherson, a board member of the Tennessee Grocers & Convenience Store Association, issued a statement lauding the ongoing negotiations. But the owner of Memphis-based Superlo Foods stressed that the talks “remain fluid at this time.”

– The Associated Press

Katy Perry World Tour in Memphis on Oct. 5

Katy Perry’s Prismatic World Tour will visit FedExForum Oct. 5. Tickets go on sale Monday, Jan. 27, at 10 a.m.

Perry is touring in support of “Prism,” which debuted at No. 1 on The Billboard 200 and remains in the Top Ten three months after release. She is partnering with Tickets-for-Charity to offer tickets that benefit charitable causes, available at ticketsforcharity.com.

– Don Wade

PROPERTY SALES 70 70 1,045
MORTGAGES 79 79 1,199