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VOL. 132 | NO. 172 | Wednesday, August 30, 2017

Daily Digest

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Memphis Business Academy Pulls $5M Permit in Frayser

The Memphis Business Academy is moving forward with its plans to open a fifth center in Memphis with a $4.9 million building permit application recently filed with construction code officials.

The permit will be put toward renovations to MBA’s new facility located at 2180 Frayser Blvd., near the intersection of Overton Crossing Street.

Earlier this month, MBA purchased the site, known as the Frayser Plaza Shopping Center, from Tenalok Partners Ltd. for $3.5 million.

Currently the MBA operates four educational facilities in Memphis: an elementary school at 1082 Berclair Road, a middle and high school at 3306 Overton Crossing, and a STEM academy at 2450 Frasyer Blvd.

– Patrick Lantrip

Rhodes to Dedicate $34M Science Facility

Rhodes College is set to dedicate Robertson Hall, its $34 million science building, at a Thursday, Aug. 31, ceremony.

The 54,674-square-foot new facility features a walk-in cold laboratory that allows experiments to be conducted at refrigerator temperatures. For example, protein studies could be conducted in the lab to maintain the sensitive structure and interactions of sensitive molecules.

In addition, the building includes a “freezer farm” with cold storage units for keeping microbes and tissues for research and teaching archives. The room has a special cooling system to counter the heat generated from the freezer compressors.

Robertson Hall’s design, meanwhile, blends traditional Collegiate Gothic architecture with contemporary details, including a floor-to-ceiling glass system at the main entrances and west face to increase natural light and provide exterior views.

Thursday’s ceremony begins at 10:30 a.m. on the west side of the new facility at 2000 North Parkway. During the event, Rhodes also will reveal the Bill & Carole Troutt Quadrangle on campus as well as the renovated Briggs Hall – now home for computer science studies and a virtual reality lab. The virtual reality lab houses equipment that will allow users to create endless virtual environments, such as exploring a model of the human heart or navigating the ocean, according to Rhodes.

– Daily News staff

AutoZone Park Hosting ‘Grit Grind Night’ Aug. 30

The Memphis Redbirds and Memphis Grizzlies are coming together for “Grit Grind Night” on Wednesday, Aug. 30, at AutoZone Park. Grizzlies players Tyreke Evans and Mario Chalmers are scheduled to sign autographs and throw first pitches, and the first 2,000 fans when gates open at 5:30 receive a dual schedule magnet featuring both the 2017-18 Grizzlies schedule and the 2018 Redbirds schedule.

Autographed jerseys will be sold in an auction benefiting both the Redbirds Community Fund and the Memphis Grizzlies Foundation. For $25, you can attend “Grit Grind Night,” plus Redbirds home playoff games Sept. 6 and Sept. 7, along with the Grizzlies home opener Oct. 18.

For tickets or more information, call the Redbirds at 901-721-6000 or visit memphisredbirds.com.

– Don Wade

Cordova Assisted Living Facility Sells for $6M

Brookdale Cordova, a 44,000-square-foot assisted living facility at 1535 Appling Care Lane, has sold for $6 million.

California-based TPG Realty, doing business as Cordova BG Propco LLC, purchased the 4.5-acre property from HCP SH ELP2 Properties. Built in 1997, the Class B property was appraised for $3.6 million by the Shelby County Assessor this year.

Brookdale is the largest provider of senior care options in the U.S., according to its website. In addition to the Cordova facility, it currently operates more than 1,000 communities in 47 states.

– Patrick Lantrip

New MPD Recruit Class Begins Training

A new group of 76 Memphis Police recruits began training Monday, Aug. 28, at the police training academy, with a group of 24 more recruits, including police service technicians, joining the class in October.

The PSTs are civilians who work traffic accidents with no injuries or direct traffic as they get experience toward becoming police officers.

Graduation for the recruit class that began Monday is scheduled for Jan. 12.

Based on past classes and long practice, all 100 will not graduate.

The 85 police officers who graduated earlier this month were the largest class of commissioned police officers in a decade, according to the city administration. Those 85 graduates were from a class that began with 108 recruits or candidates.

The 85 graduates brings the police complement up to 1,989 commissioned officers. The city’s goal is 2,300 police officers in the ranks by 2020. Memphis Mayor Jim Strickland has said his goal for this year is a net gain in police ranks for the first time in seven years, taking into account officers who retire or leave the job.

– Bill Dries

ThyssenKrupp Signs Southeast Memphis Lease

ThyssenKrupp Materials NA, Inc. has signed lease to occupy 80,000 square feet in the Raines Distribution Center in Southeast Memphis.

Hank Martin and Brian Califf with NAI Saig Co. represented the landlord, Raines Road Title Holder LP, in the deal.

Located at 5547 E. Raines Road, the Raines Distribution Center was built in 1980 and has 658,820 square feet of space spread out over 30 acres.

ThyssenKrupp is a distributor of production materials and provider of integrated service solutions with more than 2,900 employees and annual sales of $2.5 billion.

–Patrick Lantrip

Nail Bar Inks 10-Year Lease In East Memphis

Upscale salon Nail Bar has signed a 10-year lease to occupy the former Seabrook Wallcovering building purchased by Loeb Properties at 601 S. Mendenhall Road.

Bill Caller with Crye-Leike Commercial represented the tenant while Aaron Petree of Loeb Properties represented the landlord.

The salon is scheduled to open in early 2018 and will occupy about 4,100 square feet of the 7,616-square-foot building. Currently, the property is being renovated for retail use, and the tenant will take possession as soon as the scheduled renovations are complete.

– Patrick Lantrip

Pinnacle Named Among Best Banks to Work For

Pinnacle Financial Partners is one of the nation’s Best Banks to Work For, ranking No. 6 on the annual list compiled by American Banker magazine and Best Companies Group. It is the firm’s fifth appearance on the list.

As the 50th largest bank in the country by assets, Pinnacle is by far the largest of the top 25 banks on the list. The nearest comparable bank has less than a third of the number of employees and nearly a fifth of the assets.

Pinnacle’s inclusion on the 2017 list comes in the midst of a major integration following the acquisition of BNC Bancorp based in the North Carolina.

“Culture is what we focus on every day, and it’s absolutely key to a successful merger,” said Terry Turner, Pinnacle’s president and CEO, in a statement. “It allows us to deliver a community bank level of service to our clients in every market no matter how much we grow. ”

To be eligible for the Best Banks to Work For list, firms must have at least 50 employees working in the United States and be a commercial bank, thrift, mutual associate, mutual savings bank, savings and loan association or a savings bank.

Selection is a two-step process. First, participating banks are evaluated on their workplace practices, policies and demographics. This evaluation is worth about 25 percent of the final score. Second, employees are surveyed to assess their experiences in and attitudes about the workplace. This is worth the remaining 75 percent of the final score. Combined scores determine the final ranking.

In previous years, Pinnacle has ranked No. 1 for its category (in 2013), No. 2 overall (in 2014), No. 3 (in 2015) and No. 6 (in 2016) on the list.

The firm began operations in a single location in downtown Nashville in October 2000 and has since grown to approximately $20.9 billion in assets as of June 30. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in 11 primarily urban markets in Tennessee, the Carolinas and Virginia.

– Daily News staff

PROPERTY SALES 128 339 21,916
MORTGAGES 76 240 16,657
BANKRUPTCIES 36 136 6,853