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VOL. 132 | NO. 237 | Thursday, November 30, 2017

Daily Digest

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Construction to Begin On Old Kroger Site

A $90,000 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. However, 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.

– Patrick Lantrip

Prologis Continues Selling Spree in Memphis

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.

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.

In October, Prologis sold two parcels in its Memphis portfolio to Pennsylvania-based Exeter Property Group. Those properties, located at 5295 and 5305 Logistics Drive in southeast Memphis, sold for a combined $23.8 million.

– Patrick Lantrip

Commission Overrides Two Luttrell Vetoes

Shelby County commissioners, meeting in special session Wednesday, Nov. 29, voted to override two vetoes by County Mayor Mark Luttrell of commission resolutions earlier this month.

The resolutions dealt with the opioid lawsuit chairwoman Heidi Shafer moved to file in November and a later commission vote ratifying her decision to file the suit.

Specifically, the commission overrode Luttrell’s veto of the resolution ratifying the lawsuit pending in Circuit Court against manufacturers and distributors of opioids. They also overrode his veto of a later resolution directing the county attorney’s office to, in effect, go along with the lawsuit.

Luttrell sued the commission over the opioid litigation, claiming the body’s decisions went against the Shelby County charter by violating the separation of powers between his office and the commission.

Chancellor Jim Kyle agreed with Luttrell in his ruling and subsequent court order, but he let the lawsuit stand, giving the county administration until the end of the year to intervene in the suit. Luttrell said the administration would intervene and effectively take over the management of the case, including possibly replacing the law firm Shafer hired.

Some commissioners who voted in favor of overriding the vetoes Wednesday said the overrides don’t change the Chancery Court ruling and its effect, but instead are about the relationship between Luttrell and the commission.

Other commissioners argued the body should have let the vetoes stand.

Since the court ruling, Shafer has moved to appoint an opioid task force. Luttrell pointed out that his administration had already formed such a task force and that commissioners could participate in that.

– Bill Dries

Adams Keegan Launches HR Performance Tool

Adams Keegan, a Memphis-based national managed human resources services company, has launched a new performance management tool to provide companies a dedicated, customizable space for employee reviews and performance tracking.

Developed to meet the needs of the firm’s larger clients, the tool is available through Efficenter, Adams Keegan’s human resources information system, which works hand-in-hand with on-call HR experts to support employees and ensure regulatory compliance.

Among its features, the performance management tool can be configured so companies can adjust employee access and visibility. It also integrates and auto-populates employee data, eliminating the need to manually enter information multiple times.

“We are continuously evaluating client needs and eliciting their feedback, as they drive our ongoing product development and enhancements,” Jay Keegan, president and CEO of Adams Keegan, said in a statement. “This new platform comes after listening to our clients, determining additional ways to meet their performance management needs and creating value for their organizations.”

Additionally, the Adams Keegan website recently was redesigned to emphasize the range of services the company provides and the way in which it delivers those services.

News of the performance management tool launch and website redesign coincide with Adams Keegan’s 30th year in business, and follows the announcement of its Nashville office expansion. In addition to growing its Tennessee- and Georgia-based offices, Adams Keegan is exploring markets with similar, dynamic patterns of growth for new office openings.

– Daily News staff

Pinnacle Financial Adds to Memphis Team

Justin Gordon, Logan Welch, Michelle Butler and Amy Dunnam have joined Pinnacle Financial Partners, all based at the main office on Shady Grove Road.

Gordon joins Pinnacle as a senior vice president and credit adviser. He brings 13 years of experience from SunTrust Bank, where he most recently served as a commercial real estate portfolio manager.

Welch joins as a senior vice president and financial adviser. He previously spent three years at Trustmark National Bank, where he was a commercial relationship manager.

Butler brings 16 years of experience to her role of financial adviser assistant. Before joining Pinnacle, she was a client specialist for First Tennessee Bank’s regional corporate banking area.

And Dunnam, with more than nine years of experience, also joins the firm as a financial adviser assistant. Her previous roles were with Evolve Bank & Trust and Magna Bank, where she served as a loan operations processor, and at First Tennessee Bank, where she was a credit operations specialist.

– Andy Meek

College Football Playoff Rankings Undergo Shuffle

Clemson (11-1) is at the top of the College Football Playoff rankings and Auburn (10-2) is now No. 2 after a decisive victory over Alabama in the Iron Bowl.

Oklahoma (11-1) holds down the third spot, with Wisconsin (12-0) fourth. The top four teams after next weekend will get into the College Football Playoff.

The University of Memphis (10-1) remained at No. 20. The Tigers play at undefeated Central Florida, which is No. 14 in the rankings, on Saturday, Dec. 2, in the American Athletic Conference championship game. The winner is expected to earn a place in the New Year’s Six, which likely means a trip to Atlanta for the Peach Bowl if it is Memphis.

Alabama (11-1) slipped to fifth and does not play this weekend, while Auburn and No. 6 Georgia (11-1) meet in the SEC title game. The winner seems assured a spot in the playoffs. Clemson plays No. 7 Miami (10-1) in the AAC title game. Clemson is in with a win, but Miami might not be if it doesn’t look good, given it is sitting two spots behind Alabama.

The Oklahoma Sooners play No. 11 TCU (10-2) in the Big 12 title game. Again, Oklahoma is in with a victory, but a TCU win still might not be enough to get into the top four. In the Big Ten, Wisconsin plays No. 8 Ohio State (10-2).

In the event Clemson and Oklahoma both win but Wisconsin loses, the committee has a tough decision. Would they take Alabama, a second SEC team, along with either Auburn or Georgia? Or would they take a two-loss Ohio State team as Big Ten champion?

– Don Wade

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 55 55 20,821
MORTGAGES 44 44 24,405
FORECLOSURE NOTICES 0 0 8,610
BUILDING PERMITS 196 196 42,533
BANKRUPTCIES 55 55 13,957
BUSINESS LICENSES 22 22 6,423
UTILITY CONNECTIONS 56 56 13,567
MARRIAGE LICENSES 23 23 5,092

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