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VOL. 132 | NO. 109 | Thursday, June 1, 2017




Flintco Files $25 Million Permit for ServiceMaster HQ

By Patrick Lantrip

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150 Peabody Place
Memphis, TN 38103

Permit Amount: $25 million

Application Date: May 2017 

Completion: 2017

Owner: Belz Enterprises

Tenant: ServiceMaster Global Holdings

Contractor: Flintco LLC

Details: Contractor Flintco LLC has filed a $25 million building permit application for tenant infill at ServiceMaster’s new headquarters Downtown.

The permit is the latest step in the Memphis-based company’s plan to relocate its headquarters into the former Peabody Place Mall.

In March, ServiceMaster announced Flintco would head up construction and renovation efforts. ServiceMaster representatives said at the time the company will spend $35 million in renovations, with at least 20 percent going to local minority- and women-owned businesses. However, the company is expected to exceed that percentage.

Last December, Flintco was also named general contractor for the renovation of ServiceMaster’s IT Innovation Center, a 20,000-square-foot collaborative workspace that will open in June in the former Tower Records location near the Third Street entrance to Peabody Place.

Property owner Belz Enterprises handled exterior renovations and interior updates to repurpose the four-level structure into Class A office space. Once fully operational, around 1,200 employees and contract workers will occupy ServiceMaster’s headquarters by early 2018.

In addition to housing ServiceMaster’s world headquarters, Belz is setting aside 20,000 square feet in the building for retail or restaurant tenants.

 

2059 Madison Ave.
Memphis, TN 38104

Permit Amount: $400,000

Application Date: May 2017

Owner: Taylor Carruthers

Tenant: Indian Pass Raw Bar

Architect: Barry Jones

Contractor: Viktor Hall Construction

Details: Indian Pass Raw Bar, a Florida-based seafood restaurant, has filed a $400,000 building permit application with the city-county Office of Construction Code Enforcement to open a second location at 2059 Madison Ave.

The permit calls for “alterations” to the former Chiwawa location and lists Viktor Hall Construction as the contractor and Barry Jones as the architect.

According to the Indian Pass Raw Bar of Memphis Facebook page, the restaurant was supposed to open in December 2016, but was pushed back because of difficulties in obtaining the necessary permits.

The original Indian Pass is located in Port St. Joe, Florida, and traces its history back to a commissary that opened to service a nearby turpentine operation in the early 1900s.

Currently, the roughly 3,000-square-foot restaurant space in Overton Square is owned by Taylor Carruthers and was appraised for $355,700 this year.

 

1265 Union Ave.
Memphis, TN 38104

Permit Amount: $2.5 million

Project Cost: $280 million

Application Date: May 2017

Completion: 2019

Owner: Methodist University Hospital

Tenant: Methodist University Hospital

Architect: Juan Self of Self+Tucker Architects

Engineer: Mike Sheridan of Allen & Hoshall

Contractor: Turner Construction 

Details: Methodist University Hospital is seeking a $2.5 million building permit to continue work on its $280 million modernization project on its campus at 1265 Union Ave.

The application filed with the city-county Office of Construction Code Enforcement describes the scope of work simply as “alterations.” It lists Juan Self of Self+Tucker as the architect, Mike Sheridan of Allen & Hoshall as the engineer and Turner Construction as the contractor.

The permit is the latest in a series filed in the past several months by Methodist. It sought a $15.4 million permit in November for the foundation of a 440,000-square-foot tower on the Methodist University campus. Then in January, the hospital pulled an $80 million interior buildout permit application, also for 1265 Union Ave. The expansion and modernization project is scheduled for completion in early 2019.

 

1350 Concourse Ave.
Memphis, TN 38104 

Permit Amount: $41,000

Application Date: May 2017

Tenant: MEMPopS

Details: Popular local ice pops shop MEMPopS has filed a $41,000 building permit application with the city-county Office of Construction Code Enforcement to begin construction on its second Memphis location inside the Crosstown Concourse.

Premiere Contractors is slated to handle the tenant infill at the mixed-use development. Currently, MEMPopS operates a location at 1243 Ridgeway Road in East Memphis’ Park Place shopping center.

 

4760 Showcase Blvd.
Memphis, TN 38118

Sale Amount: $4.3 million

Buyer: 240 Perkins Holding

Seller: Suit and Tie Lodging 

Loan Amount: $4.1 million

Borrower: Amar Patel

Lender: State Bank of Texas

Details: Iowa-based Suit and Tie Lodging LLC has sold a Fairfield Inn and Suites hotel in East Memphis to Texas-based 240 Perkins Holding LLC for $4.3 million.

Built in 1999, the 27,772-square-foot hotel is located on 1.5 acres at 4760 Showcase Blvd. between South Perkins Road and Thousand Oaks Boulevard. The Shelby County Assessor’s 2017 appraisal is a little more than $3 million.

John Hall signed the deed as an authorized representative for Suit and Tie.

In conjunction with the purchase, the new owners took out a $4.1 million mortgage on the property with the State Bank of Texas. Amar Patel signed the deed of trust on behalf of 240 Perkins Holding.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 98 238 15,862
MORTGAGES 122 284 18,332
FORECLOSURE NOTICES 0 21 2,426
BUILDING PERMITS 137 452 32,966
BANKRUPTCIES 62 178 10,191
BUSINESS LICENSES 23 73 5,251
UTILITY CONNECTIONS 28 92 6,240
MARRIAGE LICENSES 13 63 3,476

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