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VOL. 130 | NO. 47 | Tuesday, March 10, 2015

Daily Digest

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Texas Roadhouse Building Sells for $2.8 Million

An Arizona-based real estate investment trust has a purchased a Texas Roadhouse restaurant for $2.8 million.

Spirit Master Funding II LLC, an affiliate of Phoenix-based Spirit Capital Realty, acquired the restaurant property at 2810 New Brunswick Road from Spirit Master Funding LX LLC, according to a Feb. 26 warranty deed. The purchase was financed with a $2.8 million loan from Citibank, according to a Feb. 26 warranty deed.

The 7,111-square-foot building was built on two acres just south of New Brunswick and U.S. 64 in 2005. The Shelby County Assessor of Property’s 2014 appraisal is $1.8 million.

Source: The Daily News Online & Chandler Reports

– Amos Maki

Paggio’s Salon Moving to Broad Avenue Arts District

Paggio’s Salon is moving to the Broad Avenue Arts District later this month.

The salon is moving to 454 Bingham Street, next to T Clifton Art Gallery. All of the services the salon currently offers will be offered at the new location. The salon also has been in touch with filmmaker Willy Bearden about a photography show at the salon, and it’s been in talks with Memphis Yelp about “future events.”

Paggio’s owner Courtney McCollum said she’s been thinking about moving to a new space for a while. The revitalization in and around Broad prompted the salon’s move to the area.

A grand opening date for the salon will be announced soon.

– Andy Meek

Tour de Grizz Scheduled for Saturday, April 4

The Memphis Grizzlies and the Memphis Zoo will continue their annual tradition of encouraging Grizz fans to tour the city by bike and take part in the Seventh Annual Tour de Grizz. The event is scheduled for Saturday, April 4, before the Grizzlies tip-off against the Washington Wizards at 7 p.m.

Tour de Grizz participants will receive general admission tickets to the Memphis Zoo (good for entire day) before hopping on their bikes for the five-mile ride to FedExForum. Riders will depart from the zoo at 5 p.m. Memphis Police escorts will accompany the group as it makes the trip to and from FedExForum.

Once the riders have reached their basketball destination, they will have complimentary “Bike Valet Parking.” Following the contest between the Grizzlies and the Wizards, riders will leave FedExForum 20 minutes after the final buzzer and return to the zoo.

Packages start at $35 and include a Terrace Level ticket to the night’s game, admission to the Memphis Zoo the entire day of April 4 and a Tour de Grizz souvenir item to commemorate the event. Packages also may be purchased for $75 and include a First Tennessee Club Level ticket to the game, zoo admission and souvenir item.

All participants must be at least 10 years of age and must provide their own bike and safety equipment, including a helmet and lights. Tour de Grizz will take place rain or shine.

Call 901-205-1436 to reserve a spot. All participants must pre-purchase a package.

– Don Wade

Harbor of Health Doctor Closing Harbor Town Practice

Dr. Susan Nelson’s health practice at Harbor of Health is closing next month, as she prepares to move to the Church Health Center this summer.

Patients were sent a letter in recent days saying Nelson is moving to the Church Health Center, which told The Daily News she’ll come on board in June. Nurse practitioner Melody Breeden, meanwhile, is moving to Jackson, Tenn.

The Church Health Center worked 10 years ago with partners including First Tennessee and Methodist Healthcare to help establish the clinic. Developer Henry Turley, who spearheaded the creation of the Harbor Town community, had approached the Church Health Center about starting the clinic there.

– Andy Meek

Simmons Tapped as President of Financial Planning Group

Cathy Simmons, chief compliance officer for Legacy Wealth Management, has been elected to serve an additional one-year term as president of the Memphis Chapter of the Financial Planning Association.

Her responsibilities to the organization include providing guidance to new planners and shaping a vision for the future of financial planning.

Simmons joined Legacy in 2000. The firm employs 22 wealth management professionals, including 12 certified financial planner practitioners, and manages over $1 billion in assets. The Memphis-based firm has been in business more than 30 years and provides portfolio management and financial planning services to over 750 clients.

– Andy Meek

Shelby County Schools Board Meets in Special Session

The Shelby County Schools board meets in special session Wednesday, March 11, at 8 p.m.

The meeting was called last week for the school board to vote on hiring an attorney to represent the board in talks with the state about full funding of the Basic Education Program.

Shelby County Schools and several other school systems across the state are hiring attorneys and coordinating actions among themselves as a possible prelude to a lawsuit against the state to force full funding of the BEP formula.

The formula defines how state funding for public education is allocated among school systems.

No school system has voted to sue the state yet. First the school systems are to consider talks with state officials.

– Bill Dries

Youth Advance Moving to Raleigh Springs Mall

Youth Advance Inc. has a new location in the Raleigh Springs Mall.

The new space needs a little TLC, so Home Depot will provide help on Wednesday, March 11th, at noon. Its new facility is located near the main entrance of the mall and was formerly used as a recording studio; it currently has black walls throughout and is in slight disrepair.

Home Depot will paint the entire space and perform small handy work jobs; Youth Advance plans to move into its new facility sometime in April.

“Youth Advance is a great program, and we are glad to give back to the community by providing these services for them,” said Scott Yarbrough of the Raleigh/Bartlett Home Depot.

Kizer Floor Fashions is providing new carpet for the facility, and other local groups are contributing items to meet additional needs.

“We are profoundly grateful for the generosity and goodwill shown to us by Home Depot, Kizer Floor Fashions and others,” said Linda Poindexter, Youth Advance’s executive director. “This would not have been possible without them.”

The nonprofit, founded in 2001, provides educational and cultural activities for its participants.

It currently meets at Chief Corner Stone Church at 4255 Overton Crossing. The program meets on Saturdays and hosts occasional activities during the week. It also holds an annual Youth Conference at LeMoyne-Owen College and has sponsored trips to Washington, D.C., and Chicago.

– Don Wade

U of M Women’s Basketball Season Ends in Loss to USF

The University of Memphis women’s basketball team came to a close Saturday, March 7, with a 79-51 loss to No. 2-seeded University of South Florida in the American Athletic Conference.

The Tigers finished 14-17 on the season. Ariel Hearn led the team in scoring, at 16.1 points per game, and assists with 3.3 per game. Her 58 steals also led the team, as did her 68 made 3-pointers.

Brianna Wright led in rebounds, with 8.2 per game, and blocks with 19. Mooriah Rowser was the team’s top free-throw shooter, making 59 of 76 for 77.6 percent.

– Don Wade

PROPERTY SALES 36 154 6,546
MORTGAGES 34 94 4,129
BUILDING PERMITS 201 554 15,915
BANKRUPTCIES 43 126 3,396