VOL. 132 | NO. 239 | Monday, December 4, 2017
Memphis Real Estate Recap
Spikner Plans Shipping-Container Apartment Complex
By Patrick Lantrip
126 N Bellevue Blvd.• Memphis, TN 38104 (Map data ©2017 Google)
126 N Bellevue Blvd.,
Memphis, TN 38104
Application Date: Dec. 20, 2017
Owner: Fred Spikner, Spikner Enterprises LLC
Engineer: The Reaves Firm
Details: Memphis businessman Fred Spikner of Spikner Enterprises LLC has submitted plans to the Memphis and Shelby County Board of Adjustment for an apartment complex made from shipping containers.
Located on a vacant lot at 126 N. Bellevue Blvd., between Jefferson and Poplar avenues, the project hopes to serve as a “catalyst for future developments and improvements in the area,” according to the application for a conditional-use permit.
“The project will be a multifamily residential development similar to those immediately surrounding the subject property,” Spikner wrote.
Spikner, along with Dorothy Spikner and Dartell Treadwell, are listed as the property owners on the application, while The Reaves Firm was tapped to handle the engineering and surveying work.
Currently, the subject property is divided among two parcels that total a little more than 0.6 acres and were appraised for a combined $15,800, according to the Shelby County Property Assessor’s website.
In addition to Spikner Enterprises, Spikner also owns Spikner Inc., a screen-printing and embroidery business, and Park Place Recycling & Logistics.
814 Jefferson Ave.
Memphis, TN 38105
Application Date: Dec. 20, 2017
Owner: City of Memphis, Shelby County
Tenant: Shelby County Health Department
Architect: Susan Golden, brg3s
Details: The Shelby County Health Department is seeking a variance from the Board of Adjustment for construction of a new facility at its current 814 Jefferson Ave. location.
The first phase of the project calls for the demolition of an existing, freestanding auditorium and construction of a new 79,000-square-foot building that will house the clinics and administrative areas, according to the application submitted to the Office of Planning and Development.
When construction of the new building is completed, the health department’s existing facility will be demolished to make way for a new parking area and possible future developments.
Since the plans call for less side street frontage than allowed by the Medical District overlay section of the Unified Development Code (UDC), a variance from the Board of Adjustment is required.
Without the variance, the health department argues that the project would not be feasible due to cost and it would be hamstrung for future on-site expansion and development plans.
If granted, the new layout will allow the Shelby County Health Department to implement a master plan that would “fulfill the intent of the UDC.”
2130 Exeter Road
Germantown, TN 38138
Permit Amount: $90,000
Application Date: Nov. 7, 2017
Owner: 2130 Exeter Holdings
Contractor: Doster Construction Co.
Details: A building permit application has been filed to remove the facade of the old Kroger building at 2130 Exeter Road in Germantown.
The building permit application lists Doster Construction Co. as the contractor and 2130 Exeter Holdings as the property owner.
Although the tenant category simply reads “vacant,” this location was at one point supposed to be the new home of a highly anticipated Trader Joe’s store. The oft-delayed project most recently came to a halt when the previous developers, Centennial American Properties, pulled out in late 2016.
On Nov. 7, the new owners presented plans for facade improvements and the addition of a 7,000-square-foot outparcel to the Germantown Planning Commission. The plans received final approval from the city’s Board of Mayor and Aldermen on Nov. 13.
While no tenants were named at the planning commission meeting, Germantown Economic and Community Development director Cameron Ross said the new developers are recruiting tenants who will offer a significant reduction in the number of daily grocery deliveries received at the store.
4070 Willow Lake Blvd.
Memphis, TN 38118 (et al.)
Sale Amount: $11.3 million (combined)
Buyer: Triumph Real Estate Corp.
Seller: Prologis Inc.
Loan Amount: $8 million (combined)
Lender: Ameritas Life Insurance Corp.
Details: San Francisco-based logistics real estate firm Prologis Inc. is continuing its selling streak in Memphis with the sale of four properties to Denver, Colorado-based Triumph Real Estate Corp. for a combined $11.3 million.
The four sites are located at 4070 Willow Lake Blvd. and 3860, 3920 and 3943 Delp St. in Memphis.
Prologis senior vice president Megan Robert signed the deeds on behalf of the sellers.
In conjunction with the purchase, Triumph took out two mortgages with Ameritas Life Insurance Corp. totaling $8 million. Triumph Real Estate Corp. founder Paul Ruff signed the loan documents on behalf of the borrowers.
3292 E. Holmes Road
Memphis, TN 38118
Permit Amount: $35.9 million
Project Cost: $72 million
Owner: IDI Gazeley
Contractor: Tricore Builders Inc.
Details: Tricore Builders Inc., the contractor building Amazon’s new $72 million receive center in Memphis, has filed a $35.9 million building permit application with construction code officials for new construction, interior offices and warehouse modifications.
This marks the second multimillion-dollar building permit application Tricore has filed this month for the facility, which will be located at 3292 E. Holmes Road in southeast Memphis.
On Nov. 18, Tricore and Atlanta-based developer IDI Gazeley, which owns the land, applied for a $2 million permit for footing and foundation work.
In October, Amazon confirmed it was planning a $72 million, 615,440-square-foot receive center that would employ 600 workers. The facility will collect and repackage products for distribution to fulfillment centers across the country.