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VOL. 9 | NO. 3 | Saturday, January 16, 2016

Daily Digest

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Church Health Center Begins Crosstown Construction

The Church Health Center is the first Crosstown Concourse founding partner to begin its build-out.

On behalf of the Church Health Center, contractor Grinder, Taber & Grinder has applied for a $15.6 million building permit for new construction in the mixed-used development at 495 N. Watkins St.

The health care provider will consolidate 14 buildings’ worth of services into one 150,000-square-foot space when Crosstown Concourse opens in 2017.

Medical and wellness facilities, including a fitness center, are planned.

According to earlier reports, the Church Health Center will lease for the first seven years and then buy its space.

The Church Health Center, along with seven other founding partners, committed to the $115.3 million undertaking in 2012. Other founding partners include St. Jude Children’s Research Hospital, ALSAC and Memphis Teacher Residency.

With combined residential, office, community use and retail components, the 1.5 million-square-foot former Sears & Roebuck regional distribution center will be a hub for Memphis health care, arts and education.

Overlooking Crosstown Concourse, the Church Health Center is temporarily occupying a space next to Crosstown Arts.

Construction on Crosstown Concourse has been ongoing since January 2015.

– Madeline Faber

Shelby Farms Playground Part of National Case Study

The American Society of Landscape Architects has put the spotlight on Shelby Farms’ Woodland Discovery Playground.

Woodland Discovery Playground in Memphis is one of 10 case studies included in the American Society of Landscape Architects’ newly expanded online exhibition, “Designing Our Future: Sustainable Landscapes.”

The website highlights real-world examples of sustainable landscape design and its positive effects on the environment and quality of life. The new case studies range from a coastal ecological restoration project to a volunteer-run urban farm. They illustrate just what sustainable landscapes are and how they provide important benefits on a variety of scales.

Woodland Discovery Playground is located on a four-acre upland site at Shelby Farms Park, which had been home to a 20-year-old playground that had fallen into disrepair. The new playground was created with input from children.

James Corner Field Operations created the Woodland Discovery Playground, as well as the master plan for Shelby Farms Park.

– Don Wade

SunTrust to Air First Super Bowl Ad Next Month

SunTrust Banks Inc. will air its first Super Bowl ad next month during Super Bowl 50.

The bank’s ad – to air during the game on Feb. 7 – will spotlight how financial stress is affecting the nation’s health and happiness. Its goal is to encourage Americans to talk openly about money and take steps to reclaim their financial confidence.

The SunTrust ad will serve as one catalyst for social change and a call-to-action for Americans to consider doing something positive about money and finances. New York-based StrawberryFrog is creating the commercial.

– Andy Meek

Luttrell, Strickland Attend Obama’s State of the Union

Shelby County Mayor Mark Luttrell and Memphis Mayor Jim Strickland both attended the Tuesday, Jan. 12, State of the Union address, the final State of the Union address by President Barack Obama

Luttrell attended at the invitation of the White House and sat in First Lady Michelle Obama’s box.

Strickland attended as a guest of U.S. Rep. Steve Cohen of Memphis and met with U.S. Sens. Bob Corker and Lamar Alexander of Tennessee during the Washington visit.

– Bill Dries

Newmark Grubb Knight Frank Acquires Local Real Estate Firm

Real estate firm Newmark Grubb Knight Frank and its parent company BGC Partners Inc. have acquired local company Steffner Commercial Real Estate.

In a release, NGKF states that the acquisition of Steffner Commercial Real Estate, which operates as Newmark Grubb Memphis, is a cornerstone in the firm’s Mid-South growth plan.

“The acquisition of Newmark Grubb Memphis solidifies the foundation from which NGKF plans to build a dominant presence in the Mid-South, as part of our continued strategy to expand across major markets nationwide,” said Barry Gosin, CEO of New York City-based NGKF.

Founded by Joe Steffner in 2004, Newmark Grubb Memphis partnered with Grubb & Ellis in 2006 and NGKF in 2013.

Financial details of the acquisition, which closed in December 2015, were not disclosed.

Steffner will assume the role of senior vice president and regional managing director of the Mid-South region for NGKF. Senior managing directors Jim Rainer and Scott Pahlow will join Steffner’s team.

– Madeline Faber

Ioby Secures $33K Grant From Livable Memphis

The Memphis chapter of ioby, a national crowd-resourcing platform, has received a $33,000 grant through Livable Memphis to support neighborhood leaders and grassroots groups in activating public parks and green spaces.

Dubbed the “Green Up Memphis Match,” the effort aims to spur dozens of additional projects across the city.

“The Green Up Memphis Match offers funding beyond the official city park – vacant lots, median strips, and community gardens are also eligible,” said Ellen Roberds, Memphis action strategist for ioby, in a statement.

The ioby platform helps leaders nationwide design cost-effective solutions, raise funds and recruit volunteers from their friends and neighbors to implement their projects. Since its Memphis introduction in 2014, more than 150 Memphians have raised $422,000 through the platform, with most project budgets less than $3,000.

Livable Memphis is a program within the Community Development Council of Greater Memphis, a coalition of individuals and organizations who support the development and redevelopment of vibrant, economically sustainable neighborhoods. Livable Memphis specifically focuses on growth and development issues, and on increasing public participation in planning and development decisions.

The Green Up Memphis Match application is available on ioby.org/greenup through Feb. 8. Fundraising efforts will begin in March.

– Kate Simone

Memphis Chamber Names ‘10 to Watch’ in 2016

The Greater Memphis Chamber has released its “10 to Watch” in 2016 list, recognizing companies and organizations that over the past year showed outstanding leadership, growth and commitment to success.

“These 10 businesses have helped drive our local economy and brought jobs and talent to Memphis, and we look forward to seeing what’s to come in 2016,” said chamber CEO Phil Trenary in a statement.

The 2016 honorees are:

• City Market, a local grocery and deli with locations in Cooper-Young (836 S. Cooper St.) and Downtown (66 S. Main St.).

• Gibson Cos., founded by Memphian J.W. Gibson in 1991 and comprising three companies: The Premier Group, Southeast Regional Development Corp. and Tec-Print

LEDIC Realty Co., a fully integrated manager, owner and developer of multifamily properties across the U.S.

• Memphis-Shelby County Airport Authority, the entity that presides over Memphis International Airport as well as the Charles W. Baker and General DeWitt Spain airports.

Orgill Inc., founded in 1847 and often cited as Memphis’ oldest business; the company provides wholesale distribution and retail services to the home improvement industry within the U.S. and in more than 60 countries.

• Premier Flowers, florist at 80 N. Tillman.

• Speak Creative, a full-service digital agency focused on things like website design and app development, with offices in Memphis and Nashville.

• Strayhorn Transportation Freight Management, transportation company.

• Think Inspired, a multicultural marketing and cross media services provider to businesses with a Memphis office at 1661 International Drive.

• West Cancer Center, regional leader in adult cancer care and research with more than a dozen affiliated locations in the area.

– Andy Meek & Kate Simone

Verso Sells Subsidiary for $62 Million

Memphis-based Verso Corp. has sold a subsidiary that owns hydroelectric power plants for $62 million to address its cash flow and liquidity problems.

Verso announced the sale of its Verso Androscoggin Power LLC subsidiary Thursday, Jan. 7, to Eagle Creek Renewable Energy LLC for cash.

The subsidiary, which goes under the acronym VAP, consists of four hydroelectric power plants connected to Verso’s pulp and paper mill in Jay, Maine.

The Androscoggin mill bought electrical power from VAP and will continue to do so under Eagle Creek ownership.

– Bill Dries

CCRFC Approves $1.7M For Convention Center Work

The Center City Revenue Finance Corp. approved up to $1.7 million in revenue bonds Tuesday, Jan. 12, for Memphis Cook Convention Center improvements.

The bonds are to be paid off with revenue from the city of Memphis. The improvements are the latest in a series for the convention center built in the mid-1970s and about to undergo a major renovation including its exterior facade.

In other action at the Tuesday session, the CCRFC approved new assignments of payment-in-lieu-of-taxes lease agreements for the Metro 67 Apartments at 67 Madison Ave. and the Metro Garage, across the street at 60 Madison Ave.

The changes are “slightly different structures” in which ownership groups controlled by Scott Ledbetter, the founder of LEDIC Management, continue their PILOT leases on both properties, said Hunter Humphreys, attorney for Ledbetter’s groups.

The PILOT terms remains the same with a new loan on the garage property. The PILOT agreements turn over ownership of the properties to the CCRFC for the term of the PILOT. The owners who sought the PILOTs then lease the property from the CCRFC.

And the CCRFC approved a new lease assignment Tuesday for the Marriott Residence Inn Downtown, 110 Monroe Ave. at Main Street.

RI Downtown Hotel Partners LP is selling to Garrison Realty of New York, an affiliate of Garrison Investment Group. It owns 49 other hotels in different cities.

Management of the hotel in the old William Len building will remain the same. Wright Investment Properties Inc. of Memphis will be a minority owner.

It’s a return engagement for Wright, which redeveloped the property in 2004, bought it again in 2012 and has continued to manage it through an affiliate company.

– Bill Dries

Phillip Ashley Chocolates To Be Given Out at Grammys

Memphis chef Phillip Ashley will be known for giving out gold at this year’s Grammy Awards, but he won’t be presenting one of the famed gramophone statuettes.

Ashley, owner of Phillip Ashley Chocolates, has been named the official chocolatier of the Grammy gift lounge, and his exclusive 23-karat gold salted caramel pecan praline will also be a featured parting gift for guests of the official awards celebration.

Ashley handcrafts the pralines using couverture chocolate derived from the rare purple bean cacao, roasted Mississippi Delta pecans and fleur de sel. Each praline is laced with 23-karat gold leaf, and the single-origin dark chocolate shell is finished with 23-karat gold dust.

Each praline retails for $79, making it one of the most expensive chocolates on the market.

Ashley was chosen by Distinctive Assets, which selects vendors to present products and services in preassembled gift bags or through representation in the backstage Gift Lounge.

“I am excited to showcase my 23-Karat Golden Praline and be a part of the official GRAMMY Celebration,” Ashley said in a statement. “It really is an honor, and I am happy to be given the opportunity to show off my newest creation at such a prestigious event.”

The Grammy Awards will be broadcast live on CBS on Feb. 15 starting at 7 p.m. Central.

– Kate Simone

Pinnacle Financial Partners Expands Memphis Team

Pinnacle Financial Partners is continuing to expand its ranks in Memphis.

The latest addition is a team from Cadence Bank that will accelerate Pinnacle’s commercial and industrial lending in the city and is based at Pinnacle’s Memphis headquarters on Quail Hollow Road.

Two months after closing its merger with Magna Bank, Pinnacle recruited Phil Stevenson, formerly Cadence Bank’s executive vice president and market executive for Memphis, and four other Cadence bankers. The others include financial advisers Glynn Alexander and Steve Havard and credit advisers Stephanie Blaydes and Ginny Smith.

They’ll all work closely with Pinnacle’s Memphis president Damon Bell in Pinnacle’s client advisory group.

– Andy Meek

American Residential Services Expands HVAC Reach

Memphis-based American Residential Services has bought the assets of two HVAC businesses, expanding its reach as a national provider of heating, air conditioning and plumbing services.

The privately held company announced Tuesday, Jan. 12, it has acquired Aspen Air Conditioning of Boca Raton, Fla., and Greenstar Home Services, which has locations in Orange, Calif., and Las Vegas.

The Greenstar brand will remain in the Orange market, while Las Vegas will be converted to Yes! Air Conditioning and Plumbing.

Greenstar CEO Jeremy Prevost and COO Colin Martodarn will continue to lead the Southern California operation.

Aspen Air is a 32-year-old business that will continue to be led by its president, Steve Maguire.

– Bill Dries

OR Nurses Nationwide Donates $175,000

Several Memphis entities received 2015 year-end charitable gifts from OR Nurses Nationwide, which has offices in Memphis, Dallas and Houston.

Gifts of $25,000 each were given to Le Bonheur Children's Hospital, Church Health Center, Baptist College of Health Sciences School of Nursing and Youth Villages. A gift of $20,000 went to the University of Memphis' Loewenberg School of Nursing.

The Daisy Foundation, a national organization that honors outstanding nurses in more than 2,000 health care facilities in all 50 states and internationally, and the Boy Scouts of America each received $10,000 each.

Page Robbins Adult Day Center in Collierville and the Streetdog Foundation of Memphis each received $5,000 gifts.

"We're just happy we have this to share," said Denise Burnett Stewart, founder, president and CEO of OR Nurses Nationwide.

In total, $175,000 in gifts were awarded. Besides the Memphis donations, the firm also awarded gifts of $12,500 each to Children at Risk foundations in Dallas and Houston.

OR Nurses Nationwide maintains offices in the Texas cities, in addition to its Memphis headquarters.

The company specializes in providing operating-room and other critical care specialty nurses to fill temporary roles in hospitals throughout the U.S., and currently represents nearly 600 such nurses.

Stewart was one of two founders of OR Nurses in 1988. She is chairman of the parent corporation, Source One Healthcare Professionals Inc., president and CEO of OR Nurses Nationwide and is a director and member of the executive committee of Baptist College of Health Sciences and the Society of Entrepreneurs and a trustee of the Church Health Center, all of Memphis.

– Don Wade

'Bizarre Foods' Host Noshes Through Memphis

A popular Travel Channel series will be showcasing some of Memphis’ iconic eats when it kicks off its third season later this month.

“Bizarre Foods: Delicious Destinations,” an extension of the long-running “Bizarre Foods” franchise hosted by James Beard Award-winning chef Andrew Zimmern, explores the dishes that define various cities. But instead of simply spotlighting these quintessential eats – such as Philadelphia’s classic cheesesteaks and Tel Aviv’s traditional falafel – Zimmern digs into the origins of each dish, how it’s prepared and the right way to eat it.

In Memphis, those foods range from fried catfish and thick bologna to juicy ribs and the famous Elvis sandwich. The episode premieres Tuesday, Jan. 26, at 8 p.m. Central.

– Kate Simone

UTHSC Professor Named To Pharmacy Education Council

Dr. Marie Chisholm-Burns, dean and professor in the College of Pharmacy at the University of Tennessee Health Science Center, has been named as the American Association of Colleges of Pharmacy appointee to the board of directors of the Accreditation Council for Pharmacy Education.

Chisholm-Burns will be one of 10 members on the accrediting board.

ACPE serves as the national agency for accrediting professional degree programs in pharmacy and providers of continuing pharmacy education. Chisholm-Burns will be one of three board members appointed from AACP.

– Andy Meek

Cantrell, Jenkins and Smith Finalists for Circuit Court Vacancy

Tennessee Gov. Bill Haslam is considering Shelby County attorneys Frank S. Cantrell, JoeDae L. Jenkins and Valerie L. Smith for the Shelby County Circuit Court vacancy created by the 2015 death of Judge D’Army Bailey.

Cantrell, Jenkins and Smith were the three finalists recommended Thursday, Jan. 7, by the Governor’s Council for Judicial Appointments. They were among eight applicants for the vacancy.

Whoever Haslam appoints will be Circuit Court judge at least through August. The judge’s position will be on the Aug. 4 Shelby County general election ballot to serve the remainder of Bailey’s eight-year term of office that began in 2014.

The appointee is eligible to run for the rest of the term.

– Bill Dries

First Horizon Chairman Joins Operation HOPE Board

First Horizon National Corp. chairman, president and CEO Bryan Jordan has joined the board of Operation HOPE, which promotes financial literacy and educational tools in underserved communities.

Operation HOPE founder and CEO John Hope Bryant said Jordan’s participation and leadership “will further Project 5117, our efforts to empower youth and adults in underserved communities.”

The organization says its board plays a key role in driving Operation HOPE’s Silver Rights Movement to expand economic opportunity and make capitalism and free enterprise accessible to underserved communities.

– Andy Meek

Annual Homeless Survey Planned for Jan. 27

Community Alliance for the Homeless is set to lead the annual Point-in-Time Count for Memphis and Shelby County on Jan. 27, starting at 4 a.m.

This annual count of unsheltered homeless persons on a single January night is required by the U.S. Department of Housing and Urban Development, and it’s a way the alliance measures efforts to reduce homelessness. The Salvation Army at 696 Jackson Ave. will serve as the command center for this year’s event.

Teams consisting of volunteers, service providers and formerly homeless individuals go out to various areas between dusk and dawn, when people who are homeless are either in sheltered or unsheltered locations for the night. In addition to answering questions on a brief survey, homeless people receive a care package with items to keep them warm and nourished. Donations of hand warmers and lip balm are still needed for this effort.

The mission of the nonprofit Community Alliance for the Homeless is to lead effective community practices to end homelessness in Memphis and Shelby County.

– Don Wade

Sterigenics Sees Growing Demand In West Memphis

This year will be one of continued expansion and growth at the West Memphis facility of Sterigenics International, which in October announced a $15 million expansion there that will triple gamma sterilization capacity.

The company provides outsourced contract sterilization services, gamma technologies and medical isotopes. It operates out of 47 facilities in 13 countries.

Upon completion in 2017, the company’s West Memphis facility, which opened in 1999, will triple its capacity to 7.5 million cubic feet from 2.5 million cubic feet and have resulted in about 20 additional jobs at full capacity.

Sterigenics International LLC president Philip Macnabb said the West Memphis facility – which is “experiencing increasing demand for sterilization services” – is a critical piece of the company’s global network given the importance of nearby Memphis as a major U.S. logistics hub.

– Andy Meek

UTHSC Professors Win $418K Grant

Dr. John Boughter, an associate professor in the Department of Anatomy and Neurobiology in the College of Medicine at the University of Tennessee Health Science Center, has landed a $418,000 grant.

It comes from the National Institute on Deafness and Other Communication Disorders, part of the National Institutes of Health, to study the question of how people are able to distinguish between what’s sweet, bitter, salty and sour.

The other principal investigator on the grant is Dr. Max Fletcher, assistant professor in the Department of Anatomy and Neurobiology at UTHSC. The award, which will be distributed over two years, will support a project titled, “Taste Responses in Defined Cell Types in Gustatory Cortex.”

The researchers will use state-of-the-art imaging techniques to visualize the response of individual neurons to taste stimuli of different qualities.

– Andy Meek

Dedric Lawson Again Earns AAC Rookie-of-Week Honors

University of Memphis freshman Dedric Lawson has been named the American Athletic Conference Rookie of the Week for the fourth time this season.

Lawson, a forward, averaged 11 points and six rebounds per game for the week, while adding four assists, three steals and two blocked shots. He scored 12 points in the first game of the week, hitting 5-of-14 from the field and 1-of-3 from long range. He also added eight rebounds against Nicholls, while adding a career-high-tying three steals.

At No. 23 UConn, he scored 10 points, while adding four rebounds, four assists and a blocked shot.

– Don Wade

EdR Selling 5.5M Shares In Public Offering

Memphis-based real estate investment trust EdR plans to sell 5.5 million shares of common stock in an underwritten public offering, the company announced Monday, Jan. 12.

EdR, which is one of the nation’s largest owners, developers and managers of collegiate housing, priced the stock at $35.50 per share to the public, with the offering expected to close on or about Jan. 15. The company also plans to grant the underwriters a 30-day option to purchase up to 825,000 additional shares of common stock.

The net proceeds, after deducting the underwriting discount and other estimated offering expenses, are expected to be $187 million, exclusive of the underwriters’ option to purchase additional shares.

EdR plans to use that money to repay amounts from two outstanding notes under its master secured credit facility with Fannie Mae and the outstanding balance on certain mortgage indebtedness.

The remainder of the money will be used for general corporate purposes, according to EdR. That could include funding its development activities – such as the two recently announced developments at Michigan State University and Texas State University – or acquiring additional communities.

– Kate Simone

Gastro One Sells Five Shelby County Properties

A health care real estate investment trust has acquired five of Gastro One’s Shelby County property holdings in transactions totaling $15 million, according to deeds filed with the Shelby County Register’s Office.

Gastro One president Dr. Michael Dragutsky described the transactions as a shedding of responsibilities that come with property ownership so the practice can devote more resources and attention to medicine.

Bethesda, Md.-based Global Medical REIT Inc., working as GMR Memphis LLC, purchased four facilities in Germantown and one in Bartlett in separate Dec. 31 transactions.

The Shelby County property sales, sorted by price, include:

1310 Wolf Park Drive ($5.4 million): A 13,458-square-foot Class A medical office built in 2001 and housing the GI Diagnostic & Therapeutic Endoscopy Center. The Shelby County Assessor’s most recent appraisal is $2.3 million. Seller: G.I. Diagnostic and Therapeutic Center Rental Co. LLC

1324 Wolf Park Drive ($3.4 million): A 9,506-square-foot Class A medical office built in 2013; most recent appraisal is $2.2 million. Seller: Gastroenterology Center of the Midsouth Rental Co. LLC

3350 N. Germantown Parkway ($2.3 million): A 6,429-square-foot Class A medical office built in 2009; most recent appraisal is $827,100. Seller: Bartlett Medical Complex LLC.

2020 Exeter Road ($2.1 million): An 8,000-square-foot Class B office condominium built in 1984; most recent appraisal is $781,000. Seller: GICM Germantown LLC.

2999 Centre Oak Way ($1.8 million): A 4,200-square-foot Class A medical office built in 2011; most recent appraisal is $954,800. Seller: GICM Real Estate LLC.

– Andy Meek & Kate Simone

Thousands Expected For MLK Day Memphis Cleanup

Three local organizations are observing Martin Luther King Jr. Day with a citywide cleanup expected to draw thousands of Memphians.

Memphis Clean by 2019, Clean Memphis and Leadership Memphis will host the cleanup Monday, Jan. 18, from 1 p.m. to 3 p.m.

The Memphis Clean by 2019 initiative – a so-called “moon mission” of the Greater Memphis Chamber Chairman’s Circle – is working to rid the city of trash and blight by 2019, the city’s bicentennial.

Clean Memphis has coordinated MLK Day of Service cleanups for several years, and Leadership Memphis provides access to their network of community leaders and schools. Participants from the Leadership Memphis programs, as well as students in its eight SUCCESS high schools, will clean up the areas around each school.

“What better time to help clean up your city than on Martin Luther King Jr. Day who encouraged everyone to serve their community,” said Shea Flinn, senior vice president of the chamber’s Chairman’s Circle, in a statement. “This cleanup is just one way the Chairman’s Circle and our great partners are working together to make Memphis the cleanest city in America again.”

Clean Memphis executive director Janet Boscarino added, “We are honored to work with Leadership Memphis and the Chairman’s Circle on the Memphis Clean by 2019 initiative. The business community plays a critical role in the realization of this mission.”

– Kate Simone

Staxtacular Connects Music, Basketball and Mentoring

The Soulsville Foundation is bringing the worlds of basketball, music and mentoring together for its largest annual fundraiser, Staxtacular 2016.

The event is a partnership with the Memphis Grizzlies and is presented by SunTrust. It will be held Jan. 29 at 7 p.m. at the Stax Museum of American Soul Music, 926. E. McLemore Ave.

Staxtacular will feature Grizzlies forward Vince Carter, among other Grizzlies guests who will help host this year’s “Party with a Purpose.”

Staxtacular also will include live music from the Garry Goin Band, Marcella and Her Lovers and a special set from the Stax Music Academy. This year, for the first time, the Soulsville Foundation is partnering with the Rec Room, located in the booming Broad Avenue area, creating the “Rec Room South” within the Stax Music Academy building during the event.

After being inspired by the Stax Records legacy and encouraged by the Soulsville Foundation’s work with at-risk young people, former Grizzlies players Shane Battier and Brian Cardinal and their wives offered to host a fundraiser in 2005, which became Staxtacular.

Since then, new Grizzlies players have taken on the host roles; it has raised more than $900,000 to date.

Tickets to Staxtacular are $175 each and may be purchased at staxtacular.com or by calling 901-261-6338.

– Don Wade

Hickory Hill Apartments Sell for $17 Million

The 376-unit Providence Place Apartment Homes, located at 6420 Knight Arnold Road Extended, have sold for $17 million.

Legacy Providence LLC purchased the property from Rose Canyon Business Park - Trails at Kirby LLC in a Jan. 5 warranty deed. Kentucky-based Legacy Village Apartments LLC, and its principal Johnny Webb, signed as the buyer.

Built in 1985, the Hickory Hill apartment complex is situated on 20.8 acres at the northwest corner of Knight Arnold and Kirby roads. The Shelby County Assessor of Property’s most recent appraisal is $8.9 million.

– Madeline Faber

Main Event Entertainment Transferred in Sale-Leaseback

Operators of the newly opened Main Event Entertainment complex at 7219 Appling Farms Parkway participated in an $8 million sale and leaseback transaction, according to a Dec. 17 special warranty deed.

Main Event Entertainment LP sold the property to National Retail Properties Inc., a publicly traded real estate investment trust.

The Orlando, Fla.-based REIT owns 2,231 properties across 47 states, according to its website. Most of the properties are gas stations and convenience stores; family entertainment properties, like Main Event Entertainment, make up 5.4 percent of its portfolio.

In conjunction with the sale, Main Event Entertainment signed a 15-year lease to expire on Dec. 31, 2030, with options to extend the lease up to 15 years.

Main Event Entertainment, a dining, bowling and event facility, opened on Dec. 11. The 49,000-square-foot building is located along Interstate 40 near Appling Road.

– Madeline Faber

Redbirds Manager Shildt Returning for 2016 Season

Mike Shildt, who led Memphis to a 73-71 record as manager of the Redbirds, will return as manager in 2016, along with pitching coach Bryan Eversgerd and hitting coach Mark Budaska. New to the Memphis coaching staff is Robby Hisert, who will serve as a coach this season. Hisert previously served as first base coach for the independent Bridgeport Bluefish and as hitting coach for Southern Vermont College.

Shildt, 47, enters his 13th season in the Cardinals organization and eighth as a minor league skipper. He has a 406-355 career record (.534 winning percentage) over his previous seven managerial seasons with three league championships in three postseason appearances.

Prior to joining the Redbirds, Shildt managed three seasons at Double-A Springfield from 2012-14, finishing with an overall 209-207 record.

Eversgerd, 46, enters his fourth season as Redbirds pitching coach and his 14th season in the Cardinals organization. The former Redbirds reliever pitched three seasons in Memphis, from 1998 to 2000, and ranks third in franchise history with 156 relief appearances.

Budaska, 63, returns to Memphis for his ninth year as hitting coach. Last season, he guided the Redbirds to a .261 team average.

– Don Wade

Forest Hill Church Sells for $1.3 Million

A Germantown church has sold for $1.3 million, according to a Jan. 4 warranty deed.

Forest Hill Baptist Church of Germantown Inc. sold the 14.4-acre property at 3645 Forest Hill-Irene Road to Harvest Church of Memphis.

Harvest Church has been operating at the location for the past two years.

In conjunction with the sale, Harvest Church filed a one-year, $1.3 million mortgage with Metropolitan Bank.

– Madeline Faber

University Law School Hosts Public Interest Fair

The Career Services Office at the University of Memphis Cecil C. Humphreys School of Law will host the second annual Public Interest Fair on Feb. 17 from 11 a.m. to 1 p.m.

During the event, representatives from government and nonprofit agencies will share information with the law students about post-graduate public-sector possibilities and realities.

Law students have a variety of opportunities to work in the public interest field throughout their time in school with student organizations, alternative spring break, summer internships, pro bono work and an array of courses and clinics.

The fair is meant to show them how to transition those skills and ideals into real-world careers.

– Andy Meek

PROPERTY SALES 56 295 6,392
MORTGAGES 26 180 4,035
BUILDING PERMITS 128 840 15,361
BANKRUPTCIES 31 153 3,270