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VOL. 130 | NO. 238 | Tuesday, December 8, 2015

Daily Digest

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AT&T Launching ‘Ultra Fast’ Internet in Memphis

AT&T is expanding the availability of “ultra-fast” Internet speeds to homes, apartments and small businesses in the Memphis area, part of a larger expansion that includes 38 additional U.S. metro areas.

The expansion of AT&T’s GigaPower service brings with it Internet speeds of up to 1 gigabit per second, which gives customers some of the fastest online speeds available. Online service that’s that fast, AT&T says, can allow customers to do things like download 25 songs in less than a second; download a TV show in about three seconds or an HD movie in less than a minute.

AT&T says it invested more than $1.2 billion in its wireless and wired networks in Tennessee between 2012 and 2014.

“All of us who are focused on driving economic development in Memphis are thrilled that AT&T GigaPower is coming to the city and bringing gigabit connections to residential customers,” said Phil Trenary, president and CEO of the Greater Memphis Chamber, in a release about the news. “These services have been available to business owners, hospitals and schools in the area for some time, and we are glad to see that the work being done at both the state and local levels is helping to create an environment that opens the door for greater investments in and deployments of these modern communications services.”

– Andy Meek

Orion Federal Credit Union Files $1.5M Building Permit

Orion Federal Credit Union has filed a $1.5 million building permit for work at 821 Poplar Ave., where the institution is building a new branch.

The move extends Orion’s presence Downtown to a Medical District site east of Le Bonheur Children’s Hospital.

Orion, formerly the Memphis Area Teachers’ Credit Union, acquired the old gas station on the property earlier this year for $1.3 million from Georgia Commercial Stores Inc.

– Andy Meek

Avison Young to Open Memphis Office

A new commercial real estate services firm has come to town.

Toronto, Canada-based Avison Young has hired principals Shane Soefker, who previously was an executive vice president and principal at Cushman & Wakefield/Commercial Advisors, and Jacob Biddle, who served as vice president at C&W/CA.

In addition to capital markets services in the Memphis, Mississippi and Arkansas markets, Soefker and Biddle will focus on growing the new office’s investor and occupier services for corporate, institutional and private clients.

Warren Smith, managing director of Avison Young’s Nashville and Knoxville offices, will oversee the new Memphis office.

This is Avison Young’s third office in Tennessee and its 50th nationally. It first opened in Nashville and Knoxville in September with 82 members joining the company from Cushman & Wakefield/Cornerstone.

The new Memphis office is located in the Clark Tower, 5100 Poplar Ave.

– Madeline Faber

Retail Chain Roses Adds Store in Memphis

The retail chain Roses is expanding in Memphis.

Owned and operated by Variety Wholesalers Inc., the chain said Monday that it’s opening another Roses store – at 6990 Shelby Drive this spring – which will complement three other existing Roses stores in Memphis.

Roses operates stores throughout the Southeast offering products like apparel and shoes, accessories, home furnishings and decor, toys, health and beauty products and other household needs.

Roses was founded in 1915 and is headquartered in Henderson, N.C.

– Andy Meek

Baptist Memorial Health Care Taps New Finance Chief

Baptist Memorial Health Care Corp. has tapped Bill Griffin to replace the organization’s current chief financial officer, Don Pounds, who’s retiring at year’s end.

Griffin has worked for Baptist for 23 years and already served as CFO for two Baptist hospitals as well as corporate system director of finance. He was promoted to vice president of corporate finance in 2000.

Baptist CEO Jason Little said Griffin has “excelled in every position he has held at Baptist.” The organization is one of the largest nonprofit health care systems in the country, with 13 affiliate hospitals in Tennessee, Mississippi and Arkansas.

The Baptist system also includes more than 4,000 affiliated physicians; Baptist Medical Group; home, hospice and psychiatric care; minor medical centers and clinics; a network of surgery, rehabilitation and other outpatient centers; and Baptist College of Health Sciences.

– Andy Meek

‘Stomp’ Coming Back To Orpheum in February

“Stomp” is coming back to the Orpheum in February, the venue announced this week.

The international percussion sensation returns Feb. 20 for two performances.

The show’s performers use a combination of percussion, movement and visual comedy that results in a journey through sound. The show uses things like dustbins, tea chests, boots, hub caps – everything but conventional percussion instruments.

“Stomp” goes on sale to the public Dec. 11 at 10 a.m. Visit orpheum-memphis.com for ticket sales information.

– Andy Meek

PROPERTY SALES 32 252 16,449
MORTGAGES 35 120 10,207
BUILDING PERMITS 215 1,041 39,585
BANKRUPTCIES 52 188 7,785