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VOL. 132 | NO. 19 | Thursday, January 26, 2017

Downtown Church Ready to Rise From the Ashes

By Patrick Lantrip

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204 N. Second St.
Memphis, TN 38105 
Permit Amount: $2.6 million

Application Date: January 2017 

Owner: First United Methodist Church

Tenant: First United Methodist Church

Contractor: Chris Woods Construction Co.

Details: More than 10 years after a fire ravaged First United Methodist Church, church officials are ready to move forward with the next phase of the rebuilding process.
The church, which sits on a half-acre at Second Street and Poplar Avenue Downtown, filed a nearly $2.6 million building permit with the city-county Office of Construction Code Enforcement to complete the building.
Chris Woods Construction Co. is listed as the contractor for the project.
Back in 2006, an early morning fire ripped through several Downtown buildings. Embers caught the historic church, which was first organized in 1826, on fire and destroyed it. Though no civilians or firefighters were injured, it took more than 150 firefighters more than five hours to finally bring the fire under control.
In 2008, the church filed a $5 million building permit as a part of its rebuilding efforts.
For several years after that, the steel-framed skeleton of the sanctuary has remained unfinished. 

4700 Summer Ave.
Memphis, TN 38122 

Permit Amount: $3.8 million

Application Date: January 2017 

Owner: PF Arkansas 

Tenant: Planet Fitness

Details: The vacant Imperial Lanes bowling alley on Summer Avenue is moving closer to redevelopment as a Planet Fitness gym.
A $3.8 million building permit application has been filed with the city-county Office of Construction Code Enforcement for a new building at 4700 Summer Ave., the site of the former bowling alley. The permit lists PF Arkansas as the property owner and Planet Fitness as the tenant.
Louisville, Kentucky-based Sandd II LLC purchased the 2.7-acre property in October for $560,000. Two months later, it obtained a $2.2 million open-end mortgage through Fifth Third Bank secured by the site. David Kueber, a Louisville-based Planet Fitness franchisee who also co-founded the Sun Tan City chain of tanning salons, signed the mortgage as member manager of Sandd II.
The 46,560-square-foot Imperial Lanes building, which was built in 1958 and has yet to be demolished, is situated between Stratford and Avon roads. The Shelby County Assessor of Property’s 2016 appraisal was $451,500.
Planet Fitness currently operates five local gyms. 

2903 Sprankel Ave.
Memphis, TN 38118

Permit Amount: $2.8 million

Application Date: January 2017 

Owner: Memphis Shelby County Airport Authority 

Tenant: FedEx Express

Contractor: Chris Woods Construction Co. 

Details: FedEx’s facilities at Memphis International Airport are in line for a multimillion-dollar upgrade.
FedEx Express filed a $2.8 million building permit application with the city-county Office of Construction Code Enforcement for renovations to the FedEx air traffic tower. The permit lists 2903 Sprankel Ave. as the site address and Chris Woods Construction as the contractor.
The renovations come just a few weeks after the shipping giant announced another record-breaking holiday shopping season. In December, FedEx told The Daily News it bulked up its air presence with 30 new aircraft since last year’s peak season. 

3647 Millbranch Road, 1715 Holmes Road and 1665 E. Raines Road.
Memphis, TN 38116 

Sale Amount: $1.4 million 

Sale Date: Jan. 17, 2017

Buyer: Mikes Properties LLC 

Seller: Joe Poppenheimer Management LLC 

Loan Amount: $1 million 

Maturity Date: Jan. 13, 2032 

Lender: Planters Bank and Trust Co. of Southaven

Details: Joe Poppenheimer Management LLC has sold three parcels of commercial property in the Whitehaven area to Mikes Properties LLC for $1.4 million, according to a Jan. 17 warranty deed filed with the Shelby County Register of Deeds.
The three parcels have physical addresses at 3647 Millbranch Road, 1715 Holmes Road and 1665 E. Raines Road.
Elizabeth P. Carol signed the deed as manager of Joe Poppenheimer Management.
In conjunction with the purchase, Mikes Properties LLC signed a $1 million mortgage the same day with Planters Bank and Trust Co. of Southaven.
The loan, which is set to mature Jan. 13, 2032, was signed by Mohammad Aqraa.
The 3647 Millbranch location, which was built in 1977, is listed as a 20,400-square-foot Class C strip shopping center that sits on 1.7 acres, according to the Shelby County Assessor of Property.
The 1715 Holmes location is an 11,380-square-foot Class C strip shopping center built in 1972 on 0.9 acres, while 1665 E. Raines is a 9,600-square-foot building built in 1976 on roughly an acre.
All the properties were appraised at a combined $1.4 million in 2016. 

6460 Mount Moriah Road Extended
Memphis, TN 38115

Permit Amount: $1.5 million 

Application Date: January 2017

Tenant: Mid-South Nephrology Consultants

Contractor: S. Webster Haining & Co.

Details: Mid-South Consultants filed a $1.5 million permit with the city-county Office of Construction Code Enforcement to erect a building shell at 6460 Mount Moriah Road Extended.
The permit lists S. Webster Haining & Co. as the contractor.

PROPERTY SALES 0 133 1,342
MORTGAGES 0 131 1,047