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VOL. 129 | NO. 205 | Tuesday, October 21, 2014

Daily Digest

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Two Willow Lake Buildings Sold for $1.9 Million

Two buildings inside Willow Lake Business Park and Corporate Park in Hickory Hill have been sold for $1.9 million.

Eagle Capital LLC acquired 3900 Willow Lake Blvd. and 4100 Willow Lake Blvd. from 198-6 Memphis Industrial Portfolio Holdings LLC, which is affiliated with Bethesda, Md.-based special servicer CWCapital Asset Management LLC, according to an Oct. 13 warranty deed.

The Class B building at 4100 Willow Lake Blvd. totals 80,012 square feet on six acres. The Shelby County Assessor of Property’s 2014 appraisal is $1.8 million.

The Class B warehouse at 3900 Willow Lake Blvd. totals 181,209 square feet on 13.6 acres. The Shelby County Assessor of Property’s 2014 appraisal is $3.3 million.

198-6 Memphis Industrial Portfolio Holdings LLC, which is related to U.S. Bank NA, acquired the 17-building, mixed-use Willow Lake Business Park for $16 million in October 2011 following a foreclosure.

Source: The Daily News Online & Chandler Reports

– Amos Maki

Zebra Lounge Piano Bar Opens This Week

The Zebra Lounge, a piano bar featuring live music by Memphis musicians seven nights a week, will open in Overton Square on Thursday, Oct. 23.

The original Zebra Lounge is a landmark Chicago bar founded in 1929. The Zebra Lounge ownership team, impressed with the uniqueness of Memphis and its musical history, tapped the Bluff City for its second location.

The Zebra Lounge is on Trimble Avenue across from the Overton Square Parking Garage at the south end of the walkway between Babalu Tacos & Tapas and Sweet Noshings.

– Amos Maki

First Tennessee Customers Can Use Apple Pay

First Tennessee Bank customers soon will be able to use their First Tennessee debit or credit card from within Apple Pay, the new digital payment service from Apple.

First Tennessee customers can add their cards to Apple Pay and then use their iPhone 6 to make purchases without the need to swipe their card or in an app without needing to enter payment and contact information.

The idea behind Apple Pay is that customers don’t share their actual credit and debit card numbers to make purchases. Instead, a device account number is assigned, encrypted and securely stored. According to First Tennessee, when a customer makes a purchase, that number and a transaction-specific dynamic security code is used to process the payment.

Apple never shares the card number with merchants. Also, the cashier never sees the customer name, card numbers or security code.

– Andy Meek

Council Considers Car Lot By New Graceland Hotel

The Memphis City Council takes up a special use permit Tuesday, Oct. 21, to allow a used car lot at 3510 Elvis Presley Blvd., south of Winchester Road, by Babak Makki.

Just south of the 1.8-acre site is the site of the Guest House at Graceland, the 140-room $70 million resort-style hotel being built by Elvis Presley Enterprises.

The site is also bordered by residential development on its eastern edge.

Makki is proposing to build a 6,500-square-foot building on the lot with nine bays that can’t be seen from the west entrance that fronts on Elvis Presley Boulevard.

The car lot itself, where the cars for sale are on display would be on the western side with landscaping on that side instead of the trees and fencing on the other three sides of the property.

The Office of Planning and Development and the Land Use Control Board are recommending approval of the special use permit with the conditions on landscaping.

The staff report on the project says it is “comparable to future proposed development” including the resort hotel.

Also on Tuesday’s agenda is $764,463 in funding for 340 curb ramps across the city, part of a noticeable increase in recent months in street and sidewalk repaving and repairs including new bike lanes along Danny Thomas Boulevard and other major thoroughfares.

The council also votes on accepting $1.1 million in funding from the Federal Emergency Management Agency for Tennessee Task Force One, the Memphis-based emergency and disaster response team.

Up for third and final reading are several ordinances that had been delayed in recent months.

They include an ordinance that would add $5 to parking tickets written as electronic traffic citations and council member Wanda Halbert’s proposal to create “community advisory councils” as part of a plan to divide $14 million in capital funds evenly among the seven single-member council districts.

– Bill Dries

Medtronic Previews Devices At Surgeons Meeting

Medtronic Inc. introduced its Pure Titanium Coating platform of interbody fusion devices for the spine at the 2014 Congress of Neurological Surgeons Annual Meeting in Boston.

The platform includes four products: the Capstone PTC Spinal System, Clydesdale PTC Spinal System, Anatomic Peek PTC Cervical Fusion System and Cornerstone-SR Ti- Coated Anatomical Cervical Cage.

These devices are used to treat patients experiencing pain caused by compression of the spinal cord or nerve roots by helping to restore normal disc height. Disc height restoration may reduce the pressure on the nerve roots and the spinal cord and help alleviate much of the patient’s pain.

– Don Wade

SchoolSeed Continues Series With Penn Professor

University of Penn professor, Dr. Shaun Harper, will travel to Memphis, Oct. 22-23 for a visit focused on educating young men of color in an urban context. The visit is the second in a speaker series hosted by SchoolSeed, a nonprofit working to drive educational excellence and innovation in the Greater Memphis community.

On Thursday, Oct. 23, Harper will deliver a speech titled “Educating Young Men of Color in an Urban Context” from 1 p.m. to 2:30 p.m. at Bridges USA in Memphis. That presentation is free and open to the public.

Harper, who also serves as the executive director for the Center for the Study of Race and Equity in Education at Penn, is author of over 90 peer-reviewed journal articles and other academic publications. His 11 books include “Student Engagement in Higher Education,” “College Men and Masculinities” and “Advancing Black Male Student Success from Preschool through Ph.D.”

He is editor-in-chief of the Routledge Book Series on Race and Racism in Higher Education, and has served as associate editor of Educational Researcher. He currently serves on editorial boards for the American Educational Research Journal, The Journal of Higher Education, and the Journal for the Study of Sports and Athletes in Education, among others. More than 400 media outlets have quoted Harper and prominently highlighted his research.

While in Memphis, Harper will also meet with students, professors and researchers. He’ll also meet with local community leaders for an intimate roundtable discussion addressing systemic barriers to opportunity for young men of color.

– Don Wade

MIFA Appoints Two To Organization’s Staff

The Metropolitan Inter-Faith Association (MIFA) has appointed Andrea Hill manager of MIFA’s COOL (College Offers Opportunity for Life) program and Genevieve Hill-Thomas has joined the nonprofit organization’s staff as corporate giving development officer.

Hill came to MIFA from Atlanta, where she worked with similar college readiness programs for teens, including as director of volunteer services for Cool Girls Inc. She holds a bachelor’s degree in human services/nonprofit management from the University of Tennessee at Chattanooga and a master’s of public administration from Kennesaw State University in Kennesaw, Ga.

Hill-Thomas previously managed individual and corporate memberships and related events at the Memphis Brooks Museum of Art.

She holds a doctorate in the history of art and African studies from Indiana University, during which time her dissertation research in Burkina Faso, West Africa was funded by a Fulbright grant. Hill-Thomas previously served as a volunteer at MIFA.

– Don Wade

PROPERTY SALES 63 441 6,018
MORTGAGES 72 450 6,721
BANKRUPTCIES 0 1,045 4,093