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VOL. 11 | NO. 17 | Saturday, April 28, 2018

Daily Digest

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New Retailer Brahmin Coming to Saddle Creek

Brahmin, a retail store that sells jewelry, leather bags and other accessories, is opening a boutique in Germantown on May 11 in the Shops of Saddle Creek.

The 1,000-square-foot store will feature a new design concept with a more casual, laid-back aesthetic. The Saddle Creek store will also be equipped with modern retail technology, including digital touch screens and mobile- and cloud-based checkout for customers.

Brahmin is situated in Saddle Creek North near Victoria’s Secret and adjacent to J.Jill & Chico’s.

– Andy Meek

Poag Names New Chief Strategy Officer

Poag Shopping Centers has promoted Brian Smith to chief strategy officer and executive vice president of leasing for the Memphis-based commercial real estate company, which specializes in the leasing, development and management of open-air retail complexes across the United States.

Smith will lead the company in defining and executing growth strategies through acquisitions, strategic partnerships, investments, development and innovation. He also is charged with intelligence gathering, market forecasting and opportunity evaluation to ensure the executive team understands the implications of various growth choices.

Most recently, Smith served as senior vice president of leasing for Poag, overseeing all leasing activity, merchandising and management of the company’s leasing professionals. He began his career more than 20 years ago at Abercrombie & Fitch in New York before transitioning to the landlord/developer side of the business and serving as regional leasing director for CBL & Associates, a real estate investment trust that owns and manages more than 85 million square feet of retail.

Joshua Poag, president and CEO of Poag Shopping Centers, said Smith’s experience makes him the ideal candidate.

“We’re confident that by promoting healthy dialogue between executives, Brian will assist in making the best decisions for Poag’s future and we will all benefit from organizational growth that will lead to success for our brand moving forward,” Poag said in a statement.

Smith said he’s eager to take on new challenges.

“The retail real estate space offers no shortage of opportunity when it comes to employee growth and strategic decision making and Poag is committed to providing clear and concise direction for our people and for our company,” Smith said.

– Daily News staff

U of M to Award Record 2,576 Degrees May 5

The University of Memphis will award 2,576 degrees at its spring commencement Saturday, May 5, at FedExForum – the largest graduating class in the university’s history. The degrees, conferred in three ceremonies, include 1,811 bachelor’s, 511 master’s, 93 law, 63 doctoral and 98 graduate certificates.

At the 9 a.m. ceremony, degrees will be presented to students in the Herff College of Engineering, School of Public Health, College of Communication and Fine Arts, Loewenberg College of Nursing and University College. At 1 p.m., students in the College of Arts & Sciences and the School of Communication Sciences and Disorders will receive degrees. At the 5 p.m. ceremony, degrees will be awarded to students in the Fogelman College of Business & Economics, College of Education, School of Health Studies and Kemmons Wilson School of Hospitality & Resort Management.

The spring commencement will continue the tradition of student speakers.

Madison Slover, who will be graduating summa cum laude with a Bachelor of Arts in communication and minor in hospitality and resort management, will speak at the 9 a.m. ceremony. She has served as a Student Government Association senator, campus tour guide and president of her sorority, Alpha Delta Pi.

Ashli B. Martin, a biology major graduating with a double minor in Spanish and sociology, will speak at the 1 p.m. session. Martin, who plans to become a physician, has held multiple leadership positions, including student ambassador for the TRIO STEM support program.

Through TRIO, she was a lead panelist on behalf of the Southern region of the U.S. while advocating for the quality of underrepresented students.

B. Jack Wyatt, executive director of the Memphis Area Prevention Coalition, will speak at the 5 p.m. graduation. President of the Adult Student Association and Phi Alpha Honor Society, he is graduating with a master’s degree in social work. Wyatt is an advocate for individuals with substance use disorders.

– Don Wade

Broad Avenue Mixed-Use Project Gets 1st Green Light

3D Realty’s plans for a roughly 400-unit apartment complex with 10,000 square feet of ground-floor retail space on Broad Avenue has received its first green light.

Plans for the mixed-use property underneath the iconic Broad Avenue water tower were unanimously approved by the Shelby County Board of Adjustment on Wednesday, April 25.

Since the 8.5-acre property was previously zoned for industrial, 3D Realty, which is a business partnership between James Maclin and Bob Loeb, had to seeking a rezoning variance from the board.

– Patrick Lantrip

Memphis Airport Extends Construction Bid Deadline

Memphis International Airport has extended the construction bidding deadline for work on Concourse B until June 15.

Originally slated for May 15, the extension is designed to allow the prequalified prime contractors additional time to prepare pricing and form their construction teams.

The extension will alter the short-term timeline, pushing back the final selection of the contractor to August, with actual construction beginning in early September. The project is still expected to be completed in 2021, however.

The multiyear, multiphase modernization plan will allow MEM to perform much-needed seismic upgrades to the B Concourse while adding wider corridors, moving walkways, larger boarding areas, higher ceilings and increased natural lighting.

Earlier this month, the B Concourse closed, and all airlines, restaurants and retail businesses will operate out of the A and C concourses until the project’s completion.

– Patrick Lantrip

Stage Stop Retail Center Switches Hands

A Raleigh retail bay containing a long-time music venue has switched hands.

Prewitt Andrews LLC sold the retail strip center that contains longtime tenant and popular music venue The Stage Stop to Land Mark Retail LLC for $365,000. The strip center is located at 4336 Stage Road.

Brian Califf and Daniel McPhail of NAI Saig Co. represented Prewitt Andrews LLC in the transaction.

The 12,000-square-foot center was built in 1973.

– Patrick Lantrip

Morris Marketing Group Wins Hermes Awards

Memphis-based Morris Marketing Group earned two Platinum and one Gold award among early-entry winners of the 2018 Hermes Creative Awards, an international competition for creative professionals involved in the concept, writing and design of traditional and emerging media.

Winners were selected from 201 categories grouped under advertising, publications, marketing/branding, integrated marketing, public relations/communications, electronic media and pro bono.

“These prestigious awards are a tribute to our hard-working, skilled team and to our relationships with our valued partners and clients,” said Valerie Morris, president of Morris Marketing Group.

Memphis-based MMG was honored for the following outstanding work:

In the PR Campaign category, MMG won a Platinum Award for World Series of Drag Racing.

For Internal Communications Campaign, it earned a Platinum for city of Memphis Benefits Enrollment.

MMG won a Gold Award in Communication/Marketing Campaign for its work on Corky’s BBQ Marketing Communications.

The Hermes Creative Awards program is administered and judged by the Association of Marketing and Communications Professionals, the industry’s premier third-party evaluator of creative work. More than 6,000 entries come from throughout the U.S., Canada and other countries. All winners will be announced May 1.

To see a list of Platinum and Gold winners, visit hermesawards.com.

– Daily News staff

Memphis Industrial Park Sells for $50 Million

The 4.2 million-square-foot Memphis Depot Industrial Park just north of Memphis International Airport has sold for $50 million.

Atlanta-based Ares Management and Mt. Kisco, New York-based Diamond Properties bought the 43-building industrial park and former U.S. Army supply depot from Mayfield Properties, the Dallas company that had owned it since 2011 under the name Memphis Depot Associates LLC.

Mayfield Properties partner John Jenkins signed the April 17 warranty deed on behalf of the sellers.

In conjunction with the purchase, Ares and Diamond – who bought the property under the names Memphis Depot TIC LLC and DP 107 LLC – took out a $32.5 million mortgage through New York City-based Allegiant Real Estate Capital Funding.

Built in the early 1940s, the depot once served as a major employer for the Memphis area.

After the Army closed it in 1997, it underwent more than $30 million in capital repairs funded by a partnership between Shelby County government and the local economic development community.

Mayfield Properties’ $35.8 million purchase of the park in 2011 marked the first time the facility was owned by a private-sector firm.

The Shelby County Assessor of Property’s 2018 appraisal of the three parcels included in the sale totals $33.8 million.

– Patrick Lantrip

Tri Delta Hits Halfway Mark Of $60M Goal for St. Jude

Less than four years into a 10-year commitment to raise $60 million for St. Jude Children’s Research Hospital, the Tri Delta fraternity has hit the halfway mark and raised $30 million for the hospital.

Tri Delta made the largest single commitment by a St. Jude partner in 2014 when it pledged to raise $60 million for St. Jude in 10 years and received prominent naming recognition of Tri Delta Place. That’s the hospital’s on-campus short-term housing facility that provides a home to patients and families while they receive treatment.

Since adopting St. Jude as its national philanthropic partner in 1999 as a part of its commitment to childhood cancer, members of Tri Delta have raised more than $57 million for the hospital. The women’s organization has had several large commitments in which it received naming recognition of a patient care floor in the hospital’s Chili’s Care Center, the specialty C Clinic in the hospital, and the hospital’s Teen Room.

Tri Delta collegiate and alumnae members also host letter-writing campaigns, campus and community events, and participate in the St. Jude Walk/Run to End Childhood Cancer and the St. Jude Memphis Marathon Weekend.

In 2014, Tri Delta was named St. Jude Partner of the Year.

By 2024, the group hopes to raise $60 million for St. Jude, bringing its overall total raised for the hospital to more than $87 million.

– Andy Meek

Downtown DoubleTree Sells for $29 Million

Columbus, Ohio-based Continental Hospitality Group has purchased the DoubleTree by Hilton Hotel Memphis Downtown for nearly $29 million.

Continental, doing business as King & Union Memphis Acquisitions LLC, bought the 185 Union Ave. hotel for $28.9 million, according to an April 19 warranty deed.

Danial E. Hanan signed the deed on behalf of the sellers, Caray Watermark 1.

In conjunction with the purchase, Continental Hospitality filed a $28 million deed of trust with the Shelby County Register also on April 19.

Continental Hospitality’s president of development Mark Damante signed that deed on behalf of his company.

The 192,431-square-foot hotel was built in 1927 and last appraised for $16.7 million in 2017, according to the Shelby County Assessor.

– Patrick Lantrip

Nonprofit Inks Lease For New HQ Downtown

Campaign for School Equity will have a new home in Downtown Memphis, as the local nonprofit has inked a 2,959-square-foot sublease at 100 Peabody Place.

CSE, which currently is housed in a shared space in Crosstown Concourse, will move into the former offices of the law firm Constangy, Brooks, Smith & Prophete LLP.

Darrell Cobbins, president and principal broker of Universal Commercial Real Estate, represented the law firm in the sublease.

Founded by Forbes 30 Under 30 Class of 2017 member Mendell Grinter, Campaign for School Equity’s mission is to ensure that all children, especially those of color, and families in Tennessee have access to high-quality education choices.

– Patrick Lantrip

Council Starts Process Of Crosstown Overlay

Memphis City Council members approved on the second of three readings Tuesday, April 24, a Crosstown historic overlay district similar to the Cooper-Young district it approved two weeks ago.

Councilman Kemp Conrad moved for and the council approved pulling the approval of the Cooper-Young district off the minutes of the body’s most recent meeting until June at the earliest.

Conrad is shaping an ordinance that he said would better define “black holes” in the Cooper-Young standards for what can be built and where.

Exterior work on an existing house or building – the principal structure visible from that street – that brings specific design review standards into play would go to the Landmarks Commission.

However, what are termed “minor alterations” would only require the approval of the Landmarks Commission staff. If the staff denies approval, the property owner could appeal to the Landmarks Commission.

Critics of the move by the council to add more specific terms and standards to the process said Tuesday they think Conrad’s still-forming proposal may violate state law governing such districts and the duties of a landmarks commission.

Conrad said his ordinance is still tentative in its specific provisions.

Council members gave final approval Tuesday to the two ordinances that define the city’s commitment to a larger prekindergarten expansion over several years. The city will contribute $6 million in ongoing funding to expand the number of prekindergarten seats countywide from 7,000 now to 8,500.

Shelby County government is still formulating its contribution to the pre-K effort.

The council, as expected, delayed final votes on ordinances that would de-annex the portion of Eads that currently is within the city of Memphis limits, as well as an uninhabited section of flood plain in southwest Memphis. Final votes on both measures are now scheduled for May 22.

And the council set May 8 public hearings and votes on a five-lot residential single family development on less than an acre at 4171 Poplar Ave. as well as the planned development of 230 apartments in four buildings with a surface parking lot at 1544 Madison Ave.

Among the partners in the Madison Midtown Planned Development is council chairman Berlin Boyd. Boyd recused himself from voting on the consent agenda that included setting the May 8 hearing and vote by the council.

– Bill Dries

Commercial Appeal Building Sells for $2.8M

The Commercial Appeal building, 495 Union Ave., has been sold to a New York investment company for $2.8 million.

Memphis Publishing Co. sold the nearly 300,000-square-foot building to Twenty Lakes Holdings, doing business as 495 Union Avenue LLC, according to a warranty deed filed with the Shelby County Register of Deeds’ office Monday, April 23.

The same New York firm, doing business as 597 Beale Street LLC, bought the 5-acre parking lot behind the paper’s building for $1 million in a deed filed April 16.

The Commercial Appeal’s parent company, Gannett Co. Inc., put the newspaper’s building on the market last year as part of a series of cost-cutting moves that also included relocating its mailroom operations to Nashville and its digital printing operations to Jackson, Tennessee, resulting in the loss of 55 jobs.

Twenty Lakes’ portfolio includes more than 180 properties encompassing 2.3 million square feet in 29 different states and specializes in acquiring underperforming and underutilized locations from legacy newspapers, according to its website.

Twenty Lakes recently acquired several other properties from Gannett, including the buildings housing the Courier & Press in Evansville, Indiana; the Patriot-News in Harrisburg, Pennsylvania; the Now Media Group in Waukesha, Wisconsin; and the Ventura County Star in Camarillo, California.

– Patrick Lantrip

I-Zone Chief Named Head Of State-Run School District

The chief of schools for Shelby County Schools who was the founding director of Innovation Zone Schools is the new leader of the state-run Achievement School District.

Sharon Griffin was named Tuesday, April 24, as head of the turnaround district for some of the state’s lowest performing schools academically by Tennessee Gov. Bill Haslam and Tennessee Education Commissioner Candice McQueen.

In the move from SCS to state government, Griffin also becomes assistant commissioner of school turnaround, joining the senior leadership team of the state department as part of a new Office of School Improvement.

Griffin will join the state in late May and will be based in Memphis. Most of the schools in the ASD are in Memphis.

Griffin is a 25-year veteran educator who shaped the Shelby County School’s Innovation Zone Schools into a turnaround effort that outperformed the ASD schools taken over by the state.

The I-Zone school model gets the same state resources ASD schools do without charter organizations running the schools.

Griffin became chief of schools last year as SCS leaders broadened the school system’s turnaround efforts beyond the I-Zone into other innovations.

– Bill Dries

AABE Awards Scholarships To Minority Students

Three minority high school students are set to receive funding for college from the Tennessee Chapter of the American Association of Blacks in Energy. The local chapter awarded $7,500 in scholarships Friday, April 20, at a reception at Southwest Tennessee Community College’s Whitehaven Center.

William Pierce III, Shannon Sharp and Jonathan Thomas will receive the scholarships, valued at $3,000, $2,500 and $2,000 respectively.

AABE is a professional association composed of African-Americans in the energy industry.

The organization provides a pathway for energy professionals, executives, entrepreneurs and students to learn more about the energy industry through education, mentoring, community service and business networking.

Through its scholarship program, AABE seeks to help increase the number of minorities in energy-related fields.

The organization hosts year-round fundraisers to benefit minority high school seniors who plan to major in a STEM field – science, technology, engineering or math – to prepare for a career in the energy sector.

– Daily News staff

Orpheum to Host High School Musical Awards

The ninth annual High School Musical Theatre Awards are set for May 24 at The Orpheum Theatre.

The annual awards are for students and supporters from 29 participating schools across the Mid-South. The awards are also part of the larger Jimmy Awards program, which is among 40 programs across the country.

The awards at the Orpheum are sponsored by Sedgwick, Memphis Audio and Dean HD.

– Bill Dries

Memphis in May Reveals 901Fest Lineup

Memphis in May International Festival has the lineup for the third annual 901Fest, including musical headliners Southern Avenue, hip hop duo 8Ball and MJG, and the Mighty Souls Brass Band.

901Fest, to be held Saturday, May 26, in Tom Lee Park, is the finale to the monthlong Memphis in May festival.

Along with multiple stages of local music, the family-friendly celebration of all things Memphis includes local artists selling unique arts and handcrafts, food from local vendors, a creative arts tent with multiple stations to create Memphis-inspired art, an airshow over the Mississippi River and a fireworks finale set to Memphis music.

Other Memphis artists set to perform include soul artist Nick Black; hip hop artist Marco Pavé; iHeartMemphis; soul artist Ashton Riker; rapper Frayser Boy; the dance stylings of Memphis Jookin’; indie rockers Avon Dale; DJ Scotty B; the gritty Southern rock of The Fast Mothers; teen rockers Under the Radar; The Grizzline; students from the School of Rock; a spoken word performance by Sebastian Cameron; the rock and jazz of Briarcrest Soundscape; and others.

New this year is the 901Fest Cornhole Tournament, giving 25 two-person teams the chance to compete in a double-elimination tournament.

Gates open at 3 p.m., with the airshow starting at 6 p.m. and the fireworks finale at 9:30 p.m.

Tickets are $9 in advance at ticketfly.com or $10 at the gate, with all activities included in the price. Children 6 and younger get in free.

Blankets and lawn chairs are permitted, but outside food, beverages and coolers are not.

For more information, visit memphisinmay.org.

– Daily News staff

O’Charley’s Announces Effort for St. Jude

O’Charley’s has announced a partnership with the St. Jude Memphis to Mobile Run.

Each year, the 399-mile relay event invites the community to run from Memphis to Downtown Mobile in support of St. Jude Children’s Research Hospital’s research and treatments for kids with cancer and other life-threatening diseases. Starting April 23, guests will be invited to contribute to the cause at all Memphis-area O’Charley’s restaurants.

As part of a “Give $5 Get $5” promotion underway through May 27, local diners will be able donate five dollars on their checks and receive a five-dollar voucher to be used during their next O’Charley’s visit.

O’Charley’s has a history of supporting local neighborhoods and encouraging community involvement thanks to initiatives like the restaurant chain’s Hometown Hero program and annual partnership with the Folded Flag Foundation, which honor U.S. military veterans and their families.

– Andy Meek

Memphis-Based Radians Acquires LFS Glove

Safety Supply Corp., the parent company of Memphis-based safety equipment manufacturer Radians, announced Monday, April 23, it is acquiring LFS Glove from Bellingham, Washington-based LFS Inc.

Financial terms of the transaction were not disclosed.

LFS Glove is the exclusive importer and distributor of Bellingham gloves and other name brands and has been a source for hand protection to the industrial and retail markets for more than 18 years.

The newly formed subsidiary of Safety Supply is registered as Bellingham Glove Inc. and will be part of the Radians group of companies.

“Our acquisition of LFS Glove will help Radians to continue our aggressive expansion of our hand protection category,” Radians CEO Mike Tutor said in a statement. “The combination will provide our customers with an outstanding selection of gloves to meet a multitude of applications in the industrial and retail markets, including lawn and garden gloves, ecofriendly gloves and gloves designed especially for women.”

Once the companies have integrated their systems later this year, customers will be able to buy both Radians products and Bellingham gloves in a single order.

As part of the acquisition, Radians has opened a new sales office for Bellingham Glove Inc. in Bellingham, Washington.

Founded in 1997 in Memphis, Radians manufactures a variety of high-performance personal protective equipment, including safety eyewear, high-visibility apparel, rainwear, hearing protection, eyewash stations and other products. The company has additional facilities in Reno, Nevada; Thomasville, North Carolina; Bellingham; British Columbia; and the U.K.

– Daily News staff

U of M Licenses Speech Intellectual Property

Research conducted at the University of Memphis is helping medical professionals assess speech understanding in Spanish-speaking children.

The U of M’s Office of Technology Transfer recently licensed intellectual property related to research conducted by Dr. Lisa Lucks Mendel and her students in the Speech Perception Assessment Laboratory to St. Louis-based Auditec Inc., which offers auditory test materials for audiologists, psychologists, speech-language pathologists, hearing professionals and other trained medical professionals.

The license to Auditec includes two speech recognition tests developed for use with Spanish-speaking children: the Spanish Pediatric Speech Recognition Threshold Test and the Spanish Pediatric Picture Identification Test. The tests can be used easily by clinics that lack access to bilingual audiologists or interpreters. The recordings present the Spanish target word to the patient while simultaneously presenting the English interpretation to the examiner.

Mendel is the interim associate dean of graduate studies, associate professor of audiology in the U of M School of Communication Sciences and Disorders, and coordinator of admissions.

The Office of Technology Transfer supports faculty conducting cutting-edge research and technology innovations.

The FedEx Institute of Technology houses the OTT as part of a strategic mission to advance technology and research that strengthens the University of Memphis and the city of Memphis’ reputation as a national leader in technology innovation.

– Don Wade

Riverfront Development Corp. Becomes MRRP

The Riverfront Development Corp. is changing names as the organization that manages city property by the Mississippi River has a change in leadership.

Effective Friday, April 20, the RDC becomes the Memphis River Parks Partnership.

Carol Coletta, president of the organization, says the new name reflects the organization’s broader role in working with private and public entities in developing the city’s riverfront. That will include more of a role in finding private and philanthropic funding for parts of the city’s riverfront redevelopment plan.

Coletta’s first day on the job is Friday. She succeeds the RDC’s founding president, Benny Lendermon, who announced his retirement in October.

The RDC was founded in 2000 and under a contract with the city of Memphis manages the city’s riverfront properties – mostly park land including the Mud Island River Park.

Coletta talks about the name change and the organization’s new role on “Behind The Headlines,” hosted by Eric Barnes, publisher of The Daily News, that airs at 7 p.m. Friday and 8:30 a.m. Sunday on WKNO Channel 10.

– Bill Dries

PROPERTY SALES 62 288 2,619
MORTGAGES 52 197 1,783