VOL. 131 | NO. 45 | Thursday, March 3, 2016
Memphis Real Estate Recap
Memphis Real Estate Recap
Graceland West Moves Forward With $6.8M Permit
Daily News staff
1116 Craft St.
Memphis, TN 38116
Permit Amount: $6.8 million
Owner: Elvis Presley Enterprises
Architect: Hnedak Bobo Group
Contractor: Grinder, Taber & Grinder
Details: Graceland West is moving forward with a $6.8 million construction permit recently filed by contractor Grinder, Taber & Grinder. The permit is listed as new construction work for Elvis Presley Enterprises at 1116 Craft St.
The 46-acre development on the northwest corner of Elvis Presley Boulevard and Craft Street will include a car museum, a new shelter for Elvis’ two jets, two restaurants, a soundstage, retail, a museum to be called “Elvis the Entertainer,” storage facilities, parking and significant landscape improvements.
Hnedak Bobo Group is the architect.
Graceland executives have talked about a plaza renovation as the third phase of a large-scale redevelopment of the Graceland mansion’s surrounding area. It already includes an archives building that opened earlier in 2015 and the 450-room resort hotel that is under construction.
Last month, EPE set an opening date for the Guest House at Graceland of Oct. 27, 2016.
That also will mark the formal closing of Elvis Presley’s Heartbreak Hotel. Elvis Presley Enterprises intends to demolish that hotel. No future use for that land has been made known.
576 S. Perkins Road
Memphis, TN 38117
Lease Length: Closing March 26
Details: In advance of its lease expiration in May, Kroger Delta Division is closing its store at 576 S. Perkins Road on March 26, the company announced Tuesday, March 1.
Kroger is offering all 81 associates positions at other area Kroger stores.
The 576 South Perkins location is one mile from the newly remodeled 799 Truse Parkway store and is less than a mile from the Kroger at 540 S. Mendenhall Road.
That’s why Kroger decided not to re-up at 576 South Perkins – the fact that it has had three stores within a one-mile radius along Poplar, said Kroger Delta Division public affairs manager Teresa Dickerson.
3210 Players Club Parkway
Memphis, TN 38125
Sale Amount: $1.4 million
Sale Date: Feb. 5, 2016
Buyer: Four Brothers Plus One, Inc.
Seller: Rockwell Memphis LLC
Seller’s representation: Colliers International
Details: Noah’s Event Venue is moving forward with its first Tennessee location.
The national wedding and event venue company closed on a 2.5-acre parcel of land at 3210 Players Club Parkway. In a Feb. 5 warranty deed, Rockwell Memphis LLC sold the land for $1.4 million to Noah’s Event Venue, acting as Four Brothers Plus One, Inc.
Construction on the 8,700-square-foot facility is expected to begin in April with a February 2017 opening.
6201 Poplar Ave.
Memphis, TN 38119
Loan Amount: $2.1 million
Loan Date: Feb. 4, 2016
Maturity Date: Jan. 31, 2017
Borrower: Lyfe Manager LLC
Lender: Chicago Title Insurance Co.
Details: With its second location open for business Downtown on the ground floor of the renovated Hotel Chisca, Lyfe Kitchen is turning its eye back to East Memphis.
On Feb. 4, Lyfe Kitchen LLC signed on with Chicago Title Insurance Co. for a $2.1 million mortgage related to the Lyfe Kitchen at 6201 Poplar Ave.
The loan is set to mature Jan. 31, 2017.