Reporter
Tom Bailey retired in January as a business reporter at The Daily Memphian, and after 40 years in journalism. A Tupelo, Mississippi, native, he graduated from Mississippi State University. He has lived in Midtown for 36 years.
There are 1216 articles by Tom Bailey :
The Quebec-based Quint Group paid $8.75 million to Illinois-based Agracel Inc. for a 258,000-square-foot industrial building. Kemp Conrad, a principal with Cushman & Wakefield/Commercial Advisors, will represent Quint Group in leasing the building.
The firm buys a portfolio of seven retail strip centers, including four in the Memphis area.
Memphis-based Lipscomb & Pitts Insurance is now a Higginbotham company, but will continue to operate as “Lipscomb & Pitts.” The two co-chief executives, Mat Lipscomb III and Johnny Pitts, have been named managing partners by the Fort Worth-based Higginbotham.
Ollie’s has two Memphis locations, one in the Wolfchase area and the other in Southwind’s Centennial Commons shopping center. Both are in former Toys R Us buildings,
Crown World this week followed through with its plans for Memphis after receiving a tax incentive in December. The firm has bought the long-empty office building at 2990 Airways and will establish operations there.
When you add all the industrial space leased during 2020 and subtract the new vacancies, the Memphis area experienced a net positive absorption of more than 12 million square feet. The vacancy rate fell to 5%, and 12 million square feet of more space is under construction.
A property owner has applied for a planned development called Brookhaven Townhomes at 786 E. Brookhaven Circle in East Memphis. The three-story units, each 2,300 square feet, will be sold instead of leased, and each will have a two-car garage and rooftop deck.
A developer seeks to change a planned development to build a 22,490-square-foot commercial center at the northeast corner of Hacks Cross and Sedgwick Way in Southwind.
A veteran Memphis real estate broker says he believes Tesla is coming to Memphis soon. The broker represented the seller in a transaction this week involving the former — and now vacant — Homer Skelton Wolfchase Hyundai dealership property at 3020 N. Germantown Parkway.
Sterling Development of Indiana plans a 260-unit, $25 million apartment complex near the southeast corner of U.S 64 and Reid Hooker Road.
Club Champion opened its Memphis studio on Saturday, Jan. 9. The business custom fits golf clubs to golfers of all levels. The East Memphis shop is the company’s second in Tennessee and 76th in the nation.
The number of houses sold in December rose 10.7 percent compared to a year earlier. And for the entire pandemic-plagued year of 2020, house sales still climbed slightly.
Silo Square is to comprise 13 mixed-use buildings, 305 single-family housing lots, six retail outparcels, a bank outparcel, two hotel sites, three office buildings, a 2.6-acre farmer’s market, 10 acres of apartments, and 64 acres of green space.
The Center City Revenue Finance Corp. board voted 7-0 to approve a 20-year incentive that will save developers of the $77 million Central Yards project $23 million in property taxes.
A fire early Saturday morning heavily damaged a 120-year-old building in the historic Pinch District.
The popular restaurant has a ground lease for the 1.25-acre site where the old Grimes Memorial United Methodist Church buildings were razed.
The Land Use Control Board approved two unsurprising changes for a couple of big, suburban planned developments. Out, or diminished, is brick-and-mortar retail from the projects.
Woodhill Real Estate bought a fully leased, 268,000-square-foot building at 5020 Tuggle Road, in Memphis’ vast Southeast industrial submarket.
Overton Park golf course may be jammed this weekend with golfers playing one last round before the nine-hole track closes until the fall. The course is being redesigned and rebuilt.
The Hyde Family Foundation has purchased 15 vacant acres on the south edge of Binghampton for the Lighthouse Project. The strategy is to provide and integrate a strong school with accessible housing, job development and health care.
The investors who own the building housing RockHouse Live (formerly Poplar Lounge) have just bought the two ragged, midrise office buildings that flank the bar near Midtown. Immediate plans are to make improvements to woo more tenants back, but long-range plans may include demolition and a new hotel.
Imperial Industrial Supply Co. seeks a tax incentive in return for buying an industrial building in Memphis for distribution of its products. The project would mean a $21 million investment and 35 jobs.
Robert Pera’s communications technology firm seeks a 10-year tax incentive that would save the company $1.8 million total in local property taxes. But the company would create 25 jobs paying $37,027 on average.
A development team has purchased three Edge District buildings, plans to renovate them, and already has signed a lease with Sweet Magnolia Gelato Co. to open a shop in one of them.
Eversana Life Science Services now has three distribution facilities and 315 jobs in Memphis. It’s seeking a tax incentive to expand and add 50 jobs. Otherwise, company officials say it may move to North Mississippi or St. Louis.