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VOL. 130 | NO. 133 | Friday, July 10, 2015

Daily Digest

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Archimania to Break Ground On Renewable Energy Office

Archimania will host a groundbreaking ceremony for its new office, the first privately owned 100 percent renewable energy building in Tennessee, at 705 S Main St. on Tuesday, July 14, at 9 a.m.

The 5,000-square-foot office building will directly aid in solving the world’s carbon footprint problem by producing more energy than it consumes, making it one of the first of its kind in the United States. It is also the first building to be designed, owned and occupied by an architecture and development firm Downtown.

Archimania’s new home will activate and connect the southernmost area of South Main Street to the more developed South Main District, at a critical intersection of the new Main to Main Multi-Modal Connector Project. The entire venture was conceived as a demonstration project to address civic engagement, education, enrichment and sustainability.

The plan includes a public art and education plaza, solar panels, on-site rainwater collection, vegetable garden, fruit trees and game yard. Archimania will also incorporate a functional metal sculpture on the site and intends to host outdoor concerts and art openings.

The new office will provide much-needed tenanted space for the firm’s growth over the coming years. Archimania was established on July 4, 1995, and is celebrating its 20th anniversary. Its recent work includes the Blues Foundation’s Blues Hall of Fame, Hattiloo Theatre, and the Mid-South Chapter of the American Red Cross.

– Daily News staff

Orpheum to ‘Roast’ Halloran To Benefit Namesake Center

The Orpheum Theatre plans to recognize longtime president and CEO Pat Halloran Sept. 24 with a roast benefiting his last and largest project, the Halloran Centre for Performing Arts & Education.

Halloran is set to retire Dec. 31 after 35 years of service to The Orpheum. Tickets for the special night of anecdotes are $250 and go on sale to the public July 23.

“I’ve always enjoyed adding a little humor to my curtain speeches; now my friends and colleagues will have a chance to repay the favor,” Halloran said of the roast.

The Pat Halloran Roast will take place in the Peabody Hotel’s Grand Ballroom and will include a sit-down dinner. Dr. Scott Morris will act as the Master of Ceremonies for the event, and six “roasters” will take turns honoring Halloran’s illustrious career with humorous stories, sarcastic reflections, and witty character descriptions. The evening’s entertainment will also include a special performance by local students, all of whom have participated or are currently taking part in The Orpheum’s education programming.

The Memphis Development Foundation, which operates The Orpheum Theatre, is quickly closing in on its $14.5 million capital campaign goal for the construction of the Halloran Centre. Scheduled to open in August, the 39,000-square-foot expansion is the largest capital project in MDF history and will allow The Orpheum to expand its education programs and community services.

– Daily News staff

Social Security Office Building Sells for $1.5 Million

The office building occupied by the Social Security Administration at 3461 U.S. 61 S. in Westwood sold for $1.5 million, according to a special warranty deed filed July 6.

Rainier GSAP I-Memphis, LLC, a Dallas-based limited liability company, purchased the 11,000-square-foot building from Justin Barton.

The building, built in 2005, sits on 1.5 acres just south of East Mitchell Road.

The United States of America has leased the building since April 2005 and recently renewed the lease agreement through April 2019. The annual lease amount is $223,000, according to the U.S. General Services Administration’s lease inventory.

Justin Barton had owned the property since December 2004, when he purchased three vacant parcels of land for $1.9 million.

Wells Fargo Bank Northwest N.A. secured a $1.5 million loan at the time of sale for Rainier GSA Portfolio I, LLC. The 21-year loan matures on June 15, 2036.

The property is valued at $1.1 million, according to the Shelby County Assessor.

– Wendy Greenlaw, Chandler Reports

Memphis Medical Device Plan Wins Federal Designation

A Memphis regional alliance aimed at increasing manufacturing in the Mid-South area is one of 12 manufacturing economic development plans across the country that will get support from 11 federal agencies and the $1 billion in economic development funds those agencies control.

The Made in the Mid-South Manufacturing Alliance led by the Greater Memphis Chamber submitted its plan to specifically grow medical device manufacturing in the designation’s second round of competition.

The list of 12 designated “manufacturing communities” was announced Wednesday, July 8, by U.S. Commerce Secretary Penny Pritzker in Washington, D.C.

Pritzker said the designation is “an important signal to potential investors that these communities are a good place to spend their money, and this is smart government at work.”

The 12 communities named in the first round last year have drawn more than $100 million in federal funding so far.

The Memphis-area alliance includes the Memphis Bioworks Foundation as well as the Memphis Medical Device Council of the Bartlett Chamber of Commerce and the University of Memphis.

Greater Memphis Chamber president and CEO Phil Trenary has said the chamber is specifically working to create more advanced manufacturing jobs and businesses in the Memphis area to go along with the dominance of distribution and logistics jobs the city is known for.

“We have seen major investment by manufacturing companies who are choosing Memphis because of our workforce capabilities and world-class assets such as our high-quality, low-cost water and competitive infrastructure,” Trenary said Wednesday in a written statement. “Attracting more manufacturing investment to Memphis is a top priority for the chamber.”

Steve Bares, president and executive director of Bioworks, said the goal of the biomedical manufacturing industry efforts is to start and grow medical device companies.

Other communities named Wednesday in the ‘Investing in Manufacturing Communities Partnership’ competition include: Pittsburgh, Pa.; San Antonio, Texas; New Orleans and Baton Rouge, La.; Madison, Wis.; Peoria, Ill.; Minneapolis; Twin Falls, Idaho; the Wasatch Front region of Utah; the Pacific Northwest Partnership Region in Oregon and southwest Washington; Hartford, Conn.; and Fresno, Calif.

– Bill Dries

18th Annual Corporate Knowledge Bowl Scheduled

This competition for the title of “Smartest Company in Memphis” at the 18th annual Corporate Knowledge Bowl will be held in a few months at the Benjamin L. Hooks Central Library, 3030 Poplar Ave.

Preliminary rounds take place Sept. 28 through Oct. 1, with finals on Oct. 2. Companies may register their teams now and until Wednesday, Sept. 9.

In addition to the title and trophy for “Smartest Company in Memphis,” representatives will compete for “Most Creative Team Name,” “Most Team Spirit,” and “Biggest Fans.” Last year’s Corporate Knowledge Bowl winner was St. Jude Children’s Research Hospital.

– Andy Meek

Dresden Site Certified As Shovel-Ready

A “pad ready” greenfields site on Swanson Drive in Dresden, Tenn., is one of three across the state named Thursday, July 9, as a Select Tennessee Certified Site” by the Tennessee Department of Economic and Community Development.

The site, along with ones in Tullahoma (Middle Tennessee) and Kingsport (East Tennessee), meet a set of state standards geared toward what site consultants for companies building new facilities are looking for and consider “shovel ready,” or ready for development to begin immediately.

The three sites named Thursday join 34 other greenfield sites across Tennessee with the same designation since the program began in 2012.

“Companies interested in locating or expanding on one of these sites can feel confident that a lot of work has already been done on the front end by a group of committed leaders backed by a community that is serious about attracting new investment,” said state site development director Leanne Cox.

– Bill Dries

PROPERTY SALES 92 242 2,507
MORTGAGES 108 336 2,943
BUILDING PERMITS 202 643 6,711
BANKRUPTCIES 43 176 1,963