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VOL. 132 | NO. 152 | Wednesday, August 2, 2017

Daily Digest

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Expeditors Signs Lease In Pilot Distribution Center

Seattle-based logistics company Expeditors has signed 100,000-square-foot lease in the Pilot Distribution Center, located at 4221 Pilot Drive.

Hank Martin and Elliot Embry with NAI Saig represented the landlord, Sealy Co., while Andy Cates with Colliers International represented the tenant.

With this latest lease, the 600,000-square-foot building is now completely occupied.

Last month, UWT Logistics renewed its 100,000-square-foot lease in the Pilot Distribution Center. Martin and Embry also represented landlord in that deal.

– Patrick Lantrip

Agricenter Farmer’s Market Marks 31st Anniversary

The Agricenter Farmer’s Market is marking its 31st anniversary belatedly with a tote bag in honor of the city’s oldest continuously operating farmers market in the county.

The cotton tote bags, which feature the market’s iconic red barn, are free to the first 400 customers at the market Wednesday, Aug. 2, with a limit of one per customer.

The barn was already on the property and had been used as a dairy barn possibly as early as 1929, according to the history section of the Agricenter website (agricenter.org/history). It was renovated for the coming of Agricenter and later expanded in 1992.

The farmers market in the barn opened June 2, 1986, with eight vendors and an estimated 2,000 customers.

In the first two months, they saw about 34,000 customers and had an average of 13 vendors a day.

The concept was modeled on the Western North Carolina Farmer’s Market in Asheville and was meant to be a consumer alternative to the long-running Scott Street Market that by the mid-1980s was selling almost exclusively to wholesalers.

– Bill Dries

U of M Commencement To Be Held Aug. 6

The University of Memphis will award degrees to 706 students, including 48 doctoral degrees, at its summer commencement Sunday, Aug. 6, at noon at FedExForum.

The featured speaker will be Dr. Abby Parrill-Baker, recipient of the 2017 Willard R. Sparks Eminent Faculty Award.

Parrill, a professor of chemistry, has distinguished herself as a research scientist with more than $5.3 million in shared external research funding, co-authorship or co-editorship of 100 publications, co-inventor on six patents, and contributions to more than 200 scientific presentations. Parrill’s research has focused on the characterization of three-dimensional structures and the application of such structures in the drug discovery process.

Parrill also has received teaching awards from all three academic institutions at which she has served – the University of Arizona, Michigan State University and the U of M. She has made important administrative contributions to the University of Memphis, first as chair of the chemistry department from 2010 to 2014 and now as associate dean in the College of Arts and Sciences.

– Don Wade

EdR Sees Drop In Q2 Net Income

Memphis-based collegiate housing management and development specialists EdR posted second-quarter net income of $6.1 million, or 7 cents per diluted share, the company announced Monday, July 31.

While this figure is much lower than the $17.7 million, or 26 cents per diluted share, from the second quarter of last year, the company attributed the decline to a $12.1 million gain from the sale of collegiate housing properties during the year-ago period.

Additionally, operating income fell to $8.6 million, a $0.9 million decrease, while a 13.7 percent increase in revenue was offset by a 17.5 percent increase in operating expenses.

EdR received the right to negotiate two new on-campus developments in the second quarter, including a 425-bed development at Lehigh University and a 650-bed development at Mississippi State University that has the potential for an additional 950 beds in the future.

“With the newly announced awards at Lehigh and Mississippi State and the previously announced awards at Cornell, Thomas More and the University of South Florida-St. Petersburg, we have been awarded a total of five on-campus developments so far in 2017,” EdR CEO Randy Churchey said in a release. “The two new awards will be nice additions to our current, fully funded, development pipeline, which represents embedded growth of 47 percent over year-end 2016.”

Among other highlights for the second quarter, EdR sold The Reserve on Stinson, a 612-bed community serving the University of Oklahoma, for $18.2 million. It also postponed the delivery of Avid Square, a $33 million development at Oklahoma State, from 2017 to 2018.

– Patrick Lantrip

Construction Continues At ServiceMaster’s New HQ

ServiceMaster has filed a $1.6 million building permit application with construction officials for renovations to its new corporate headquarters located in the former Peabody Place Mall in Downtown Memphis.

Flintco was listed as the contractor on the project.

Most recently, Flintco and ServiceMaster filed for a $25 million tenant infill building permit in May. The company expects to fully occupy its new offices by early 2018.

– Patrick Lantrip

Burger Fest Announces 2017 Festival Lineup

Best Memphis Burger Fest has announced its 2017 festival lineup for Oct. 7 at Tiger Lane.

The festival, now in its sixth year, will feature cooking competitions, live music and an inaugural bobbing-for-burger competition, along with other things. It’s a daylong event where more than 40 teams compete in four categories: Bloody Mary, Veggie Burger, Anything Goes Specialty Burger, and Best Memphis Burger – a Classic Cheeseburger Competition.

Burgers are graded on three criteria: appearance, taste and execution. And while teams throughout the day are cooking for the highest score in each category and the ultimate title of Grand Champion of Best Memphis Burger Fest, they’re also encouraged to offer samples to festival attendees in exchange for a $1 donation.

Proceeds from Best Memphis Burger Fest benefit Memphis Paws Inc., a nonprofit that promotes responsible pet ownership and generates support for animal care and rescue organizations around Memphis.

Thanks to Burger Fest, Memphis Paws has donated over $45,000 to local rescue groups and pet organizations across the Mid-South since 2012.

In addition to cooking competitions, new to Burger Fest this year is the burger-bobbing contest to complement the event’s signature burger-eating contest.

Burger Fest also will feature live music by Star & Micey, a catered VIP area, an official corn hole tournament, the Jack Pirtle’s Chicken Kids’ Zone area, food trucks, a vendor merchandise area and pet adoption area.

The festival will be open from 10:30 a.m. until 6 p.m. Admission is $10, and children under 12 get in free. VIP passes are available for $50, which includes access to a tent with catered Jack Pirtle’s food from noon to 3 p.m., sponsored High Cotton Brew and other drink samples, two all-day Kids’ Zone passes and a Burger Fest souvenir cup.

More information on tickets, team registrations, judging and volunteer opportunities can be found at bestmemphisburgerfest.com.

– Andy Meek

Firehouse Subs Holding ‘H2O for Heroes’ Drive

Firehouse Subs is hoping guests will help local first responders beat the heat when it hosts its annual H2O for Heroes bottled water collection drive on Saturday, Aug. 5, at all Firehouse Subs locations in Memphis.

Each guest will receive a medium sub when they donate an unopened, 24-pack of bottled water.

The donated water will be distributed to local fire departments, first responder agencies and community centers – helping children, the elderly and those in need of water during the scorching summer months when temperatures get dangerously high.

The initiative was started by a Phoenix, Arizona, franchisee in 2012. This is the second year the program has gone nationwide. Last year, more than 528,000 bottles of water were donated to first responders and citizens in need.

The initiative excludes Firehouse Subs in airports, Puerto Rico and Mexico.

– Daily News staff

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 90 140 15,764
MORTGAGES 100 162 18,210
FORECLOSURE NOTICES 0 13 2,418
BUILDING PERMITS 194 315 32,829
BANKRUPTCIES 57 116 10,129
BUSINESS LICENSES 25 50 5,228
UTILITY CONNECTIONS 35 64 6,213
MARRIAGE LICENSES 26 50 3,463

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