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VOL. 129 | NO. 54 | Wednesday, March 19, 2014

Daily Digest

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Midtown Office Max Sells for $3.9 Million

An affiliate of Atlanta-based real estate investment firm Core Property Capital has paid $3.9 million for the retail building at 1460 Union Ave. that houses Office Max and Cricket stores.

CPC Memphis Midtown LLC bought the Class B, 28,393-square-foot property in a March 13 warranty deed from Belz Devco GP, an affiliate of Memphis real estate company Belz Enterprises.

Belz brokerage services executive Morris Thomas signed the deed as vice president of URCO Inc., the managing partner of the selling entity.

Built in 1950, the retail center sits on 1.1 acres on the north side of Union between South McNeil Street and Raine Place. The Shelby County Assessor of Property’s 2013 appraisal was $1.7 million.

No financing was associated with the sale.

Source: The Daily News Online & Chandler Reports

– Daily News staff

Memphis in May Seeking Volunteers

The Memphis in May International Festival needs your help.

Memphis in May is seeking volunteers for the Beale Street Music Festival, the World Championship Barbecue Cooking Contest, the AutoZone Sunset Symphony and the International Salute honoring Panama.

The organization is hosting a volunteer expo Wednesday, March 19, from 6 p.m. to 8 p.m. at Memphis Botanic Garden, 750 Cherry Road.

Memphis in May’s volunteer program is one of the largest in the region and has been named Best Volunteer Program in the world by the International Festival and Events Association five times.

In addition to supporting Memphis in May events, volunteer benefits include free parking, shuttle service, event shirts, meals and a post-event volunteer recognition celebration. Visit www.memphisinmay.org/volunteers for more information.

– Amos Maki

Dallas Cowboys Executive to Speak in Memphis

Charlotte Jones Anderson, executive vice president and chief brand officer for the Dallas Cowboys, will speak at two events in Memphis April 10.

Anderson, who is also chairman of The Salvation Army’s national advisory board and the NFL Foundation, will speak at an Executive Women’s Networking Breakfast at 7:30 a.m. at the Kroc Center, 800 East Parkway S.; cost is $35 per person. She also will speak at a Women’s Auxiliary Founders Day Luncheon at 11:30 a.m. the Hilton Memphis, 939 Ridge Lake Blvd.; cost is $40 per person.

Contact Beth Dudley at amybeth_dudley@uss.salvationarmy.org or 260-9120 for reservations.

– Don Wade

Humane Society to Vie for ASPCA Grant

The Humane Society of Memphis & Shelby County has been accepted as a contestant in the 2014 ASPCA Rachael Ray $100K Challenge.

HSMSC is competing with 50 other shelters nationwide for a chance at more than $600,000 in grant funding, including a grand prize of $100,000. The competition is aimed at getting more animals adopted or returned to their owners. The contest period is June 1 through Aug. 31.

In order to qualify, each shelter must adopt out more than 300 animals in the three-month period than in the previous year.

HSMSC will host a community brainstorming session Monday, March 24, at 6:30 p.m. in the community room at the 935 Farm Road facility to discuss ideas and strategies for increasing adoptions.

– Don Wade

Election Commission to Review Moore Candidacy

Shelby County Election Commissioners will reconsider Wednesday, March 19, putting Edith Ann Moore’s name on the May primary ballot for Shelby County Commission District 6.

The commission voted earlier this month to accept Moore’s candidacy in the Democratic primary despite questions some commissioners had about the boarded-up house in Raleigh she lists as her home address.

Moore insists she is the owner and isn’t living in the house now because of a gas leak and other repairs needed to the property.

No one formally challenged her residency at the March 5 election commission meeting. But that could change with the move for reconsideration at the Wednesday meeting.

The commission will also set dates and times for the early voting period in advance of the May 6 election day.

Meanwhile, Charlotte Bergmann pulled her qualifying petition Tuesday, March 18, to run in the August Republican primary for the 9th Congressional District. The deadline for candidates to file in the state and federal primaries as well as nonpartisan and judicial races on the August ballot is April 3.

– Bill Dries

US Home Construction Falls for 3rd Month in February

U.S. home construction fell for a third month in February, but in a hopeful sign, applications for building permits rose to their highest level in four months.

Builders started work on 907,000 homes at a seasonally adjusted annual rate in February, the Commerce Department said Tuesday. That was down a slight 0.2 percent from January, when construction had fallen 11.2 percent. The declines have been blamed in large part on severe winter weather in much of the country.

Applications for permits to build homes, considered a gauge of future activity, rose a solid 7.7 percent in February to 1.02 million units. Many analysts expect housing sales and construction to show further gains this year, helped by a stronger economy.

The weakness in construction came in the apartment sector. Construction of single-family homes rose 0.3 percent in February to an annual rate of 583,000. But this was offset by a 1.2 percent drop in apartment construction, which fell to a rate of 324,000.

By region of the country, construction activity fell a sharp 37.5 percent in the Northeast, a region hit by frigid weather in February. Construction was also down in the West, dropping 5.5 percent.

But activity in the Midwest, which had fallen sharply in January because of bad weather, rebounded 34.5 percent in February. Activity was up 7.3 percent in the South, the region which accounts for more than half of home construction.

– The Associated Press

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PROPERTY SALES 57 252 6,191
MORTGAGES 73 287 7,379
BUILDING PERMITS 227 556 13,147
BANKRUPTCIES 40 153 4,500

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