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VOL. 130 | NO. 72 | Tuesday, April 14, 2015

Daily Digest

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Investors Buy Germantown Parkway Property

A pair of Olive Branch, Miss., investors have acquired an outparcel on Germantown Parkway for $950,000.

Infinite Wealth Properties USA LLC, operating in care of Hieu Hong Pham and Dinh Quang Le of Olive Branch, acquired the property at 1650 N. Germantown Parkway from JPMorgan Chase Bank NA, according to a March 30 warranty deed.

The property, which is situated on less than an acre on the east side of Germantown Parkway between Dexter Road and Bonnie Lane, is currently home to a 12,663-square-foot car wash and detail business.

The Shelby County Assessor of Property’s 2014 appraisal is $1.2 million. JPMorgan acquired the property via quitclaim deed in lieu of foreclosure from Regal Auto Wash XXVI Associates LLC in August 2014.

Source: The Daily News Online & Chandler Reports

– Amos Maki

Triumph Bank Unveils New Germantown Facility

Triumph Bank has relocated its Germantown office to a new facility at 7550 West Farmington Blvd.

Among the features of the new location: It shifts the traditional center of gravity from a bank’s so-called “teller row” to the interactions Triumph customers will have with a universal banker team that will greet the customer from start to finish.

The new office design was drawn up by Fleming Architects and built by F&F Construction, and it includes two kiosks built around innovative cash dispensing machines. New accounts can be opened in private offices or in the comfort of a lobby club chair with bankers entering information on Microsoft Surface tablets.

The office also will have a 4-by-7-foot video wall featuring educational short videos on various online or mobile services, as well as identity theft protection and other information. The wall will be located near the coffee bar and beverage center. A community room also will serve as an area for larger meetings. Triumph anticipates sharing the space with nonprofit organizations that need meeting space as well as having it serve as a location for future community events.

– Andy Meek

AAC Names Tigers’ Tucker Tubbs Hitter of the Week

Memphis first baseman Tucker Tubbs has been named the American Athletic Conference Hitter of the Week. Tubbs had a big week, blasting a home run in five consecutive games. He finished the week with six home runs and 12 total hits.

The senior hit .571 with eight runs batted in and nine runs scored. He did not strike out in 24 plate appearances over five games, while he reached base 15 times for a .625 on-base percentage.

His best at-bat of the week may have come in the top of the ninth inning Sunday with the Tigers down to their final strike. After getting down in the count he lined a single into center field to tie the game and send it into extra innings.

This marks the second consecutive week that Memphis has claimed the conference Hitter of the Week award after right fielder Chris Carrier was honored the previous week when he batted .438.

– Don Wade

Guns-in-Parks Bill Likely Headed to Special Committee

Tennessee lawmakers anticipate a special committee will be needed to work out differences in a proposal that would allow people with handgun carry permits to be armed in all of the state’s parks.

The so-called guns-in-parks bill was scheduled to be heard on the Senate floor again on Monday.

When it passed overwhelmingly earlier this month, a change was made to add the state Capitol complex to the areas where handgun carry permit holders could be armed.

The House voted overwhelmingly for the original bill but didn’t agree with the change and voted to strip that amendment from the proposal, which now goes back to the Senate.

Senate leaders say they probably won’t accept the House’s action, and that a conference committee will likely be needed to hammer out differences.

– The Associated Press

Nearly 40 Apply for Top Job at Planned ASU Campus

Officials say almost 40 people have applied so far to become the first chancellor of an impending Arkansas State University campus in West Memphis.

The Arkansas Democrat-Gazette reports Glen Fenter is leaving as chancellor of Mid-South Community College to head the Greater Memphis Alliance for a Competitive Workforce. Fenter has worked at the 1,895-student college in West Memphis since it was established in the early 1990s.

The college is planning to merge with the Arkansas State University System. The merger is still awaiting approval by the Higher Learning Commission, a national accrediting agency.

– The Associated Press

Pepsi to Replace Coke in NBA Marketing Deal

The National Basketball Association is trading Coke for Pepsi.

The league said Monday that it’s struck a new marketing partnership with Pepsico, ending a 28-year partnership with Coca-Cola.

Pepsico CEO Indra Nooyi said during a press conference in New York that the company will bring the power of its portfolio of 22 brands to the NBA. The Purchase, N.Y.-based company’s brands include Pepsi, Tropicana, Lay’s, Lipton and Doritos.

Nooyi pointed out that Pepsico Inc. had an existing relationship with the NBA through Gatorade, which has been a partner with the league for more than 30 years. The executive said that Mountain Dew will lead the NBA’s marketing strategy.

The partnership will cover North America and China, where the popularity of the NBA is growing.

The Coca-Cola Co. said in a statement on Monday that it “will continue to have a strong presence within basketball culture through our relationships with iconic players.” The world’s biggest beverage maker also said that it will continue to have relationships with individual teams and venues, which means some arenas will still serve Coke products.

Separately, Coca-Cola announced Monday that it signed a multiyear partnership with the U.S. Soccer Federation and Major League Soccer. The deal also includes a renewal of Coca-Cola’s partnership with the Mexican National Team’s U.S. Tour.

Coca-Cola will serve as the official beverage partner across the non-alcoholic beverage category for U.S. Soccer and the Mexican National Team’s U.S. Tour. The exclusive association with MLS will include both soda and water brands.

– The Associated Press

PROPERTY SALES 57 280 1,209
MORTGAGES 55 244 916
BUILDING PERMITS 158 699 2,751