Bluff City Biz: Broker talks Ford’s effect on Shelby County, holiday supply chain
Welcome back to Bluff City Biz, where every Monday we speak with someone in the know about our top stories from the previous week. Follow along for insight into key developments and analysis of all things Memphis business.
This week, we’re talking the supply chain and how shortages may affect your holiday shopping, and we’re looking at Ford’s potential impact on Shelby County with Shawn Massey, partner with The Shopping Center Group.
Ford Megasite: Blue Oval City turns Haywood property red hot
A water tower at the Memphis Megasite Oct. 8. 2021. (Patrick Lantrip/Daily Memphian)
In the continuation of The Daily Memphian’s exclusive “Transforming West Tennessee” series, Tom Bailey reported on the surge in property values and developer interest in Haywood County.
Now, farm land that would have once gone for $3,000 to $3,500 per acre is selling for much more. In one instance, a Nashville businessman bought 44 acres for $440,000, or $10,000 an acre.
And while that level of interest is more than promising for Stanton and Haywood County, Massey says that Shelby County will soon begin to feel some of the heat as well, starting with places on the eastern side of the county, such as Lakeland and Arlington.
“The leases we’re signing in Arlington and Lakeland right now are a direct result of Ford coming to town,” Massey said. “Stanton, Tennessee, has around 400 people, and we’re talking to tenants who aren’t ready just yet to go all the way there, but you’re about to see tremendous growth in Arlington, Lakeland and even Collierville and eventually Memphis.”
Massey said the momentum in eastern Shelby County has been growing steadily over the past few years, and that progress has only been amplified by Ford’s planned investment.
“I just made a couple of deals in that area I had been working on for a while,” Massey said. “They were looking and couldn’t make a decision, but once Ford’s decision was announced, boom, they were ready.”
Global supply chain crisis impacts Memphians’ Christmas shopping
Shane Waldroup, owner of Memphis vintage store Cotton Row Uniques, said his store has been seeing a shortage in his supplies since Easter. “All my fall and Halloween orders were either cut short, canceled, or we didn’t get it until like after October 31.” (Ziggy Mack/Special to the Daily Memphian)
While holiday spending this year may be higher than ever, retailors are stressing the importance of shopping early due to shortages in the supply chain.
Frida Qi reported on how the global crisis is affecting the Memphis economy, including small businesses such as vintage store Cotton Row Uniques and skincare store Bubble Bistro.
The advice to shop early, which we seem to hear every year, has special resonance this season. Anticipating the dilemma, the Massey family is 99% finished with their Christmas shopping.
“My wife pretty much bought all of our Christmas presents before Thanksgiving,” Massey said. “Some people shopping early will help a little with the supply chain issues, but every indication I get out of our national publications and our retailor reports points to this being a record-breaking year for retail. Add that to the existing supply chain issues.”
According to the National Retail Federation, retail sales for November and December may grow between 8.5% to 10.5% over 2020.
More Bluff City Biz
Josh Whitehead, zoning administrator for Memphis and Shelby County, will join the Burch Porter & Johnson law firm. (Patrick Lantrip/Daily Memphian file)
Whitehead leaving zoning office to join law firm
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Topics
Bluff City BizRob Moore
Rob Moore covers North Mississippi for The Daily Memphian. He holds a B.A. and an M.A. in English from The University of Memphis.
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