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

Daily Digest

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Haywood County’s Largest Employer Expanding

A Rhode Island-based manufacturer of compounds, composites and plastics will invest $32.2 million to expand its West Tennessee distribution facility, creating 50 jobs.

Teknor Apex plans to build a 200,000-square-foot distribution facility in the Brownsville-Haywood County Industrial Park. The company established operations in Brownsville in 1971.

“Teknor Apex is Haywood County’s largest employer and it has been a crucial part of the community’s economic success for nearly five decades,” said Randy Boyd, Tennessee Department of Economic and Community Development commissioner, in a written statement. “Its decision to further invest in Haywood County is a strong vote of confidence in the advantages Brownsville and Tennessee offer global companies – a skilled workforce, ready access to global markets and business climate that enables innovation and growth.”

Teknor Apex currently manufactures products for four divisions at its 1 million-square-foot Brownsville facility: nylon, vinyl, chemical and garden hoses. Teknor Apex’s compounds are used in various applications, ranging from wire and cable products to automotive, medical, consumer and industrial products.

The company, which is headquartered in Pawtucket, Rhode Island, has 20 facilities worldwide. It has continued to grow since locating in Brownsville, recently surpassing 600 employees with new hires in the past year.

Rob Lincer, general manager of Teknor Apex in Brownsville, said the company made a commitment to the facility and community nearly 50 years ago and is proud to see it continue to grow.

– Daily News staff

Trustee Scheduling City-Only Delinquent Tax Sales

Shelby County Trustee David Lenoir is scheduling several city-only delinquent property tax sales by the June 30 end of the current fiscal year.

The city of Memphis requested the tax sales in addition to the four countywide ones overseen each year by Lenoir’s office and the Shelby County Chancery Court Clerk’s office. The first city-only tax sale is expected to be an online sale this fall.

The Memphis-only sales will target approximately 2,600 properties for which owners are delinquent only on their city taxes.

The number of properties that wind up in the sale can vary because owners can pay the overdue taxes before the sale.

The opening bid for each property includes delinquent city taxes, any accrued interest and penalties, court costs, attorney fees, anti-neglect fees for the city cutting grass or undergrowth, and service and title costs.

– Bill Dries

In-Rel Taps Colliers to Lease Memphis Office Portfolio

In-Rel Properties has awarded Colliers International Asset Services Memphis the leasing assignment for its 1.3 million-square-foot local office portfolio, which includes Clark Tower, i-bank Tower, Lynnfield Office Park and 2400 Poplar Ave.

Colliers’ relationship with In-Rel dates back more than a decade.

In 2003, Colliers executive vice president Ron Riley worked with In-Rel when Clark Tower’s occupancy was in the mid-60 percent range, and led the charge on stabilizing the asset to reach 90 percent occupancy four years later. Laura Taylor, Colliers vice president of office leasing, brings her own seven-year history with i-bank Tower, having leased and rebranded the property, driving occupancy from 62 percent to 85 percent.

“It’s great for Colliers to be working with In-Rel again,” Riley said in a written statement. “This is a trophy assignment and we look forward to stabilizing the portfolio.”

In-Rel CEO Kirk Cypel said the company’s goals are to capture a dominant share of local leasing activity and draw “significant new tenants” into the East Memphis submarket.

Dale Bowden, property manager and key contact for In-Rel’s Memphis properties, is overseeing Clark Tower’s $7 million capital improvement campaign, which has included replacing mechanical systems, modernizing common areas, upgrading restrooms and renovating the main lobby. Bowden anticipates the transformation being complete by the end of February.

– Daily News staff

IMC Cos. Adds New Executive VP

IMC Cos. is expanding its executive leadership team. Donna Lemm will join the Memphis-based company as its first-ever executive vice president of national sales.

Lemm, who has more than 25 years of experience in the global logistics business, previously held the position of vice president of sales and marketing for Mallory Alexander International Logistics.

She also serves on the Board of Trade in New Orleans, where she will be based.

Lemm is a member of the Agriculture Transportation Coalition advisory board and is a director with the International Freight Forwarders Customs Brokers Association of New Orleans.

“This new position is a significant development for us, particularly when you consider that we started nearly 35 years ago with just one truck and driver,” said IMC Cos. chairman Mark George. “In 2016, we became a truly national company, servicing every major port and rail operation in the United States with more than 1,750 trucks. Given that growth, we are pleased to have Donna join our family of brands to lead our national sales efforts.”

– Patrick Lantrip

Women Attorneys to Install Officers, Honor Wolff

The Association for Women Attorneys will induct its 2017 officers and posthumously honor one of its own at the organization’s 37th annual banquet next week.

The Tuesday, Jan. 31, event will include the installation of Butler Snow LLP attorney Diana Comes as AWA’s 2017 president. She succeeds Lisa Gill, an associate with Butler, Sevier, Hinsley & Reid PLLC.

Memphis attorney Mary Wolff, a founding shareholder of Wolff Ardis PC, will be posthumously honored with the Marion Griffin-Frances Loring Award for outstanding achievement in the legal profession. Wolff joined AWA in 1994 and was a member until her death in late 2015. The honor marks the first time in AWA history that the award will be given posthumously.

Also during the evening, AWA will award scholarships to deserving law students attending the University of Memphis Cecil C. Humphreys School of Law.

Tuesday’s banquet will be held from 6 p.m. to 8 p.m. at the Tower Center at Clark Tower, 5100 Poplar Ave., suite 3300. Tickets are $60 for AWA members, $70 for nonmembers and $30 for law students.

For tickets and more information, contact banquet co-chair Laura Deakins at ldeakins@lewisthomason.com or 901-577-6152.

– Daily News staff

Airport-Area Property Sells for $300,000

A nearly 3-acre parcel with a pair of 30,000-plus-square-foot buildings near the Memphis International Airport has sold for $300,000.

The parcel, which is located at 3592 Knight Arnold Road near Kathy Cove, is home to a 35,000-square-foot warehouse and a 31,200-square-foot office building.

Brian Califf of NAI Saig Co. represented the buyer, Performance Properties, while Hank Martin, also of NAI Saig Co. represented the seller, Shelby Residential & Vocational Services.

– Patrick Lantrip

PROPERTY SALES 56 295 6,392
MORTGAGES 26 180 4,035
BUILDING PERMITS 128 840 15,361
BANKRUPTCIES 31 153 3,270