February 4-10, Vol. 5, Issue 6 35 Food & Wine Fredric Koeppel discusses »halal food and its health benefits with Mohammad Halimah, owner of Zaytoon Mediterranean Grill.

State spending: wharton hits on top priorities in q&a: Gov. Bill Haslam outlined his $31 Memphis Mayor A C Wharton Jr. gave representatives of the city's billion budget proposal during last business community a glimpse into his mind and background on his week's State of the State. » Page 6 priorities during a question-and-answer session. » Page 28

SPECIAL EDITION : COMMERCIAL & INDUSTRIAL REAL ESTATE

GRINDING IT OUTPages 12-25 Commercial real estate notches solid year amid still-sputtering economy

Photo: Lance Murphey

26 Sports Casual Memphis Grizzlies fans might know Tony Allen for his towel-waving antics on the bench. But he's so much more, as his defense and determination are vital to the team's success.

DAILY DIGEST: page 2 Education: page 7 small business: page 30 newsmakers: page 31 law talk: page 32

A Publication of The Daily News Publishing Co. | www.thememphisnews.com 2 February 4-10, 2012 www.thememphisnews.com

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Baker Donelson Announces alleging violations of child labor laws and The federal lawsuit is a specific chal- a key gauge of a retailer's health because Third Merger in 4 Months Gray’s February 2010 beating by a manager lenge of the state law’s treatment of children it excludes results from stores recently of the restaurant. as adults. opened or closed. Baker, Donelson, Bearman, Caldwell The manager pleaded guilty to a state The company said total revenue during & Berkowitz PC has announced its third criminal charge of felony aggravated as- the month rose 3 percent to $132.4 million, merger in less than four months. sault. compared to $129.1 million last year. The Memphis law firm has merged with The lawsuit contends Gray had been Fred’s Same-Store Sales The company said total revenue during the Houston firm of Drucker, Rutledge & treated in a hostile manner before the beat- Fall 0.8 Percent in Jan. the fourth quarter rose 2 percent to $497.7 Smith LLP, months after a merger Baker ing and that he had been left to manage the million compared to $485.6 million during Donelson announced in October with an- restaurant during a snowstorm, working Discount store operator Fred's Inc. said the same period last year. Sales at stores other Houston firm, Spain Chambers. an overnight shift, with the knowledge of Thursday, Feb. 2, that revenue at stores open open longer than a year rose 0.1 percent Now with the Drucker, Rutledge & Smith McDonald’s management. at least a year fell by 0.8 percent in January, during the quarter. merger, the combined firm will have more Gray and his family are contesting as its customers continued to struggle in the For the fiscal year, total revenue rose 2 than 630 attorneys and advisers in seven McDonald’s use of Tennessee worker com- midst of a weak job market. percent to $1.88 billion, compared to $1.84 states and Washington. pensation laws, and the CDF wants to get The results were below the 1.1 percent billion the year before. The combined firm will continue to use involved with the case on the side of the rise predicted by analysts, according to a Sales at stores open longer than a year the name Baker Donelson. As a result of the family on that point. poll by Thomson Reuters. The metric is rose 0.5 percent. new merger, Baker Donelson gains seven attorneys. In early March, those attorneys will relocate to join Baker Donelson’s other Houston attorneys in a new location in Downtown Houston.

GTx Shares Up Sharply After Citigroup Report

Shares of GTx Inc. rose about 50 percent Monday, Jan. 30, after Citigroup predicted the Memphis-based pharmaceutical com- pany was likely about a year away from reporting positive results from its Phase III clinical trials for Ostarine, a drug designed to prevent and treat muscle wasting in cancer patients. Citigroup estimated that positive out- comes of the trial could be worth at least $11 per share and that Ostarine could at- tract the interest of biopharma companies that offer oncology products. Citigroup also raised its price target from $8 to $19 after adding Ostarine to its valuation. GTx shares opened Monday at $4.81 and closed at $5.88, with an intraday high of $6.24. Its closing price Friday, Jan. 27, was $3.94. The price held steady Tuesday, closing at $5.85. Muscle wasting, which currently has no approved treatment, is a common cancer- related problem resulting in decline in physical function, and those limitations predict the ability of non-small cell lung cancer patients to tolerate chemotherapy. The Ostarine clinical program, which to date has included 600 patients in eight trials, has shown consistent results in dif- ferent patient populations, with 69 percent of patients showing improved physical function and 63 percent showing improved lean body mass endpoint, compared to 33 percent for placebo group on both end- points. GTx has traded with a 52-week range of $2.27 to $6.86.

CDF Seeks to Get Involved In McDonald’s Civil Suit

The Children’s Defense Fund has filed a brief to become involved in a civil lawsuit in Memphis federal court against McDonald’s restaurants. The Washington-based advocacy group is seeking to file an amicus brief in the law- suit filed by the family of 17-year-old Jerelle Gray. The Gray family is suing McDonald’s www.thememphisnews.com February 4-10, 2012 3

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The company said it still expects that Interiors in 2006. at www.greatamericansteamboatcompany. helps assess and assist in the design of its net income on the fourth quarter will be Davis’ project management experience com. sustainable communities. The program will at the low end to midpoint of its projected includes work with EDR, Tennessee Health also include short presentations of several range between 23 cents and 27 cents per Management, American Contract Bridge local “urban magnet” projects in the early share, reflecting an offsetting benefit from League, the University Club, Trezevant stages of planning and development. ongoing control of expenses. Manor and Healthcare Realty. FDA, Medical Device Makers The lecture is organized by Crosstown Analysts are expecting adjusted net Tava Frazier has been promoted to Reach User Fee Deal Arts, Urban Land Institute Memphis, and income of 24 cents per share, according project manager. Frazier joined ANF Inte- Livable Memphis. to FactSet. riors in May 2006 after graduating from the The Food and Drug Administration has The event, which is free and open to the University of Memphis with a Bachelor of agreed to work toward more predictable, public, begins with a reception in the Main Fine Arts. transparent reviews of new medical im- Gallery at 5:30 p.m., and the program begins Currently, Tava is in charge of the ANF plants in return for a 100 percent increase at 6 p.m. in Callicott Auditorium. Askew Nixon Ferguson Interiors Library and has assisted in the in user fees from manufacturers, under a Announces Promotions design of Memphis Animal Services and preliminary agreement. several projects for Merck, including the The pact with the medical device in- Askew Nixon Ferguson Architects has recently completed Merck Consumer Care dustry announced Wednesday, Feb. 1, is Eaton Closing Memphis announced a trio of promotions in its Mem- Center. expected to provide $595 million in user Center, Laying Off 47 phis office, 1500 Union Ave. fees to the FDA over five years, allowing Amanda Whitaker has been promoted the agency to hire 200 new scientists. That Eaton Corp., which describes itself as a to associate. amount essentially doubles the $295 mil- diversified power management company, Whitaker joined ANF in 2001 after Great American Steamboat lion industry paid over the last five years is closing a distribution center in Memphis receiving her bachelor’s degree in architec- To Hire More Than 300 of the arrangement. While not final, the that will affect as many as 47 workers. ture from Auburn University. agreement assures the continuation of a Layoffs are expected to begin Feb. She obtained her architectural license Memphis-based Great American Steam- decade-long program in which the FDA 15 and end by March 30, according to a in 2005. boat Co. will hire more than 300 employees supplements its budget with company notice the company provided the Tennes- Since coming to ANF, Whitaker has to work on The American Queen steamboat payments. The latest agreement would re- see Department of Labor and Workforce managed a variety of projects, including scheduled to call Memphis its home port quire the FDA to provide more preliminary Development. Christian Brothers University science starting in April. meetings with companies before device Eaton had 2011 sales of $16 billion. The center, FedEx War Room, Renasant Bank, The jobs include housekeeping and applications are submitted. company has about 73,000 employees and Trust One Bank, Memphis College of Art culinary jobs, positions on the marine and The announcement comes after more sells products to customers in more than graduate school and University of Memphis technical crew that runs the boat, and other than a year of closed-door meetings be- 150 countries. community health facility. front and back of the house positions. tween industry and the FDA, which dragged Jodi Davis has also been promoted to The company is organizing a career fair on past the agency's self-imposed deadline associate. Davis graduated from O'More tentatively set for the third week of Febru- for an agreement by Jan. 15. Medical device College of Design with a Bachelor of Sci- ary. makers have made shorter, more predict- EdR Buys College Housing ence in Interior Design and joined ANF GASC is also taking applications online able review times a key goal in this round of Near Univ. of Oklahoma user fee talks, complaining that regulators in Europe and other foreign countries often EdR – a Memphis-based developer, approve devices faster than the FDA. owner and manager of collegiate housing – The FDA said in a statement it would has completed the full-ownership purchase send the final details of the agreement to of The Reserve on Stinson, a collegiate Congress once they are completed. Con- housing community near the University of gress must draft the agreement into law and Oklahoma in Norman, Okla., the company approve it before Oct. 1 this year. has announced. EdR purchased the 90 percent interest held by its joint-venture partner based on a total property value of $22.9 million. The Lecture to Explore purchase was funded by EdR with cash on ‘Urban Magnets’ hand. Built in 2004, the 612-bed apartment Vancouver-based architect Alan Boni- community is less than a half-mile from face will present “Urban Magnets: Lessons campus and offers furnished two-, three- REPUBLIC AIRWAYS HAS EXCITING CAREER OPPORTUNITIES in Sustainable Place-Making,” on Thursday, and four-bedroom units, all with private IMMEDIATELY AVAILABLE IN SEVERAL LOCATIONS: Feb. 9, at Memphis College of Art’s Rust Hall, bedrooms and bathrooms. Amenities 1930 Poplar Ave. include a pool, fitness center, covered park- Aircraft Engineers Boniface will discuss the concept of ing, shuttle service to campus and Internet A & P Licensed Mechanics “Urban Magnets,” a methodology which access. A & P Licensed Mechanics w/ structures experience Dispatchers Crew Planners Crew Schedulers Warranty/Repair Analysts and Expeditors Call for an appointment today! Pilots Flight Attendants 901.685.5008 Ground Instructors Quality Assurance Inspectors And more A Patient’s View: “Dr. Castle is a fantastic dentist. Benefits include: Medical, Dental, Vision, Company paid I never waited to see him longer than a few life insurance, 401K and excellent travel benefits minutes. He gives great personal attention.”

Republic Airways is the parent company of Chautauqua Airlines, Republic Airlines and Shuttle America. For details on these positions and more see www.rjet.com and apply on line. William N. Castle, D.D.S. general dentistry 79 n. cooper (in midtown) • memphis, tn 38104 4 February 4-10, 2012 www.thememphisnews.com

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The Reserve on Stinson opened the zation features. 2011-2012 academic year 97.5 percent The FRED app for Android devices is FROM THE BLOG occupied, which is 8.5 percentage points the latest St. Louis Fed product that pro- ahead of the prior year with a net rental vides users access to economic data on rate 13 percent higher than the previous mobile platforms. The FRED app is also year. Based on this and other information, available for Apple’s iPad and iPhone. Council Members Put in Two Cents EdR’s purchase price represents a 7 percent On Lipscomb’s Pay economic capitalization rate on expected next 12 months net operating income, the company stated in a release. Editor’s Note: “From the Blog” is a weekly feature that highlights PRSA Memphis Seeks The University of Oklahoma’s total en- Vox Award Submissions some of the enterprising work our staff and contributors post on The rollment for the 2011-2012 academic year Daily News blog, blog.memphisdailynews.com. is more than 30,000 students. The Memphis chapter of the Public EdR is a self-administered and self- Relations Society of America is asking com- managed real estate investment trust that munication professionals – including non- BILL DRIES | The Memphis News owns or manages 61 communities in 23 PRSA members – to enter their best work in states with more than 34,600 beds within the 2012 Vox Awards competition. more than 11,200 units. Work executed between July 2010 and emphis City Council recently approved Mayor A C Wharton Jr.’s December 2011 is eligible. Mslate of division directors – none of them a change from Whar- The categories cover an array of com- ton’s first two years in office, although some have different roles now. munication channels, including traditional IP, Temple-Inland Extend print publications, social media, websites, When it comes to roles, Robert Lipscomb has had many during his Justice Dept. Review Period viral videos, blogs and more. tenure as director of the city’s division of housing and community de- The deadline for entry is Feb. 17, and velopment. He is also the executive director of the Memphis Housing Executives with Memphis-based Inter- submission forms are at www.prsavox.com. national Paper Co. and Austin, Texas-based A gala to honor the winners will be held Authority. MHA and HCD are separate agencies and Lipscomb is paid Temple-Inland Inc. have extended the U.S. April 13 at the Racquet Club of Memphis. a separate salary for each for a combined $250,000. That is more than Justice Department review period of IP’s the mayor himself makes. acquisition of Temple. The review has been extended to Feb. As the council neared its vote on Lipscomb’s reappointment, 13. It is considered the final step to execut- Christian Brothers U council member Lee Harris – the only new member of the council in ing the agreement in principle for IP to buy Taps New IT Dean one of its chief competitors in the paper the 2011 city elections – made his stand. business. Christian Brothers University has He said Lipscomb’s pay was an “extremely high salary.” The two corporations announced the chosen a new dean of information and Other council members were quick to respond. $4.3 billion deal in September contingent technology services. on the Justice Department review. Temple David Palmer brings more than 20 years “I don’t think we pay director Lipscomb enough for everything he shareholders approved it in December. of strategic technology leadership and does,” said council member Reid Hedgepeth, citing the federal grants management experience to CBU. He has to the tune of hundreds of millions of dollars that have come in. worked for global corporations including the Hilton hotel chain, and he’s managed “If there is anything to criticize about this man it is that he works Eclectic Eye Raises budgets large and small in addition to too hard,” said council member Myron Lowery who, along with other Money for School Supplies global infrastructures, corporate IT acqui- council members, cited Lipscomb’s 16-hour work days. sitions and complex contracts. He also has The Eclectic Eye has donated essential startup, consulting and prior university “There are other folks that work hard and I don’t think this is a school supplies collected from the commu- experience. substantial rationale to explain the huge gap in salaries,” Harris said. nity during its holiday school supply drive Palmer earned a bachelor’s degree in “I just don’t believe that there are 16-hour work days. That’s a pretext to five elementary schools in Midtown and electrical engineering with a specialty in Collierville. computer science from the University of more or less for an extravagant salary.” The eyewear boutique accepted dona- Memphis. Lipscomb has held the two jobs at HCD and the MHA for 12 years. tions of new school supplies in late Novem- He started getting the dual salaries in 2009. ber through December. Additionally, for every frame purchase “I would submit to you the city owes me money for the years I got made during the drive, The Eclectic Eye Four Memphis Museums this dual responsibility,” he told the council. contributed $5 toward the purchase of Reaccredited Through 2026 To read the rest of this post, visit blog.memphisdailynews.com. new school supplies. In total, the boutique bought more than $600 in school supplies, The American Association of Museums which were given to Idlewild Elementary, has announced three Memphis museums Peabody Elementary and Snowden School have been reaccredited for 2011 through in Midtown Memphis and Tara Oaks El- 2026. ementary and Collierville Elementary in The Dixon Gallery and Gardens, The Collierville. Pink Palace Museum and the National Civil Customized Lists Rights Museum were accredited during the 2011 review cycle. at Your Fingertips! They join the Memphis Brooks Mu- St. Louis Fed Releases seum of Art, which was reaccredited during App for Android Users an earlier review cycle. Create your own personalized set of Marketing Leads Accredited status certifies that a mu-

ONLINE SERVICES with The Daily News Online Custom List Builder tool! The Federal Reserve Bank of St. Louis seum has undergone a rigorous process

Start building your lists today! Simply select your list has released a version of its FRED app for of self-assessment as well as review by its Would you like to market your services to New type and narrow down the results using your own users of Android-power mobile devices. peers, among other things. Homeowners in specific areas? Or see a list of unique criteria. Choose from: recently Foreclosed Properties in Shelby County? • New Home Owners (Property Sales) The app provides economic data in- • Marriage Licenses With the Custom List Builder Tool you can build • Mortgages cluding full access to FRED’s nearly 42,000 custom lists of new homeowners, mortgages, • Mortgage Releases economic data series from 38 regional, building permits, new utility connections, business • Bankruptcy Filings licenses, marriage licenses and more! • Divorce Filings national and international sources. Harvard Law Prof to Speak • New Utility Connections Users can select data by the specific Purchase marketing leads for as low as 15¢ per • Foreclosure Notices On Conflict Resolution record! We can also customize your lists for you • Foreclosed Properties • Building Permits releases or start out with the 100 most based on your target audience! • And More! popular data series. They can also create Robert Mnookin, a Harvard law profes-

Contact Wendy Greenlaw at 901.528.5273 or [email protected] for a quote or to learn more! graphs and perform sophisticated analysis sor and head of the university’s Program on through the app’s interactive and customi- Negotiation, will speak at the University www.thememphisnews.com February 4-10, 2012 5

contributors February 4-10, 2012, VOL. 5, NO. 6 Get news daily from The Daily News, www.memphisdailynews.com. weekly digest

of Memphis Cecil C. Humphreys School their quality of life. of Law Wednesday, Feb. 8, on “Bargaining So far, the results are encouraging. with the Devil.” Those participating in the program for six Mnookin is the author of “Bargaining months have experienced an average of 8.5 bill dries President & CEO with the Devil: When to Negotiate, When percent weight loss, a 9 percent improve- Senior Reporter PETER SCHUTT Dries, from Memphis, has been a reporter for more than 30 to Fight,” a book in which he explores the ment in hemoglobin A1C values, an 18 years. His career stops include The Commercial Appeal, WHBQ General Manager Emeritus AM, WREC AM and WLYX FM 89 way back in the 1970s! He now challenges of decision-making and how to percent reduction in cholesterol and a 15 ED RAINS covers legal issues and other news. bargain with adversaries a person doesn’t percent increase in aerobic capacity. 528-5277 | [email protected] Publisher trust and thinks can cause personal harm. ERIC BARNES Mnookin is a leading expert in conflict resolution. He has mediated complex com- Associate Publisher & Executive Editor JAMES OVERSTREET mercial disputes, written or edited multiple Music Commission Names books and articles, taught workshops and Emissaries of Memphis Managing Editor trained executives and professionals in LANCE ALLAN WIEDOWER negotiation and mediation. The Memphis & Shelby County Music Deputy Managing Editor The professor draws on a variety of Commission has announced its 2012 Emis- ERIC SMITH andy meek examples, including Winston Churchill’s saries of Memphis Music. Senior Reporter Senior Reporter decision not to negotiate with Adolph The eight women selected will receive Meek, from Memphis, covers politics, the business community BILL DRIES and other news of general interest. He has won awards from Hitler and Nelson Mandela’s decision to their accolades at a celebration March 29 the Tennessee Press Association and the Society of Senior Reporter Professional Journalists. negotiate with the apartheid government at 7 p.m. at the Holiday Inn University of ANDY MEEK of South Africa. Memphis, 3700 Central Ave. 528-5279 | [email protected] Reporter Mnookin’s talk will be in the U of M law The honorees are Anita Makris, owner SARAH BAKER school’s Wade Auditorium and will start and manager of the Stage Stop nightclub; at 4 p.m. It is free and open to the public Wendy Moten, R&B vocalist and performer Reporter and is co-sponsored by Facing History and of the single “Come In Out of the Rain”; AISLING MAKI Ourselves. Bev Johnson, news director and radio per- Associate Editor sonality at WDIA-AM 1070; Bethany Paige, KATE SIMONE Christian pop vocalist and worship leader Lead Pressman at Lindenwood Christian Church; Alexis SARAH BAKER TOMMY COON REPORTER Crye-Leike Team Rebrands Grace, American Idol finalist and morning Sarah Baker covers commercial and residential real estate, Pressman As ‘Your Key to Memphis’ host on Q107.5 FM; Anne Pitts, executive transportation and logistics. A native Memphian, she previ- ROBERT SHANNON director of the Levitt Shell; Ann Peebles, ously worked for two regional magazines in Knoxville. 521-2464 | [email protected] Pressman Melissa Hayes Thompson has branded singer and writer of the single “I Can’t Stand CEDRIC WALSH her realty team as “Your Key to Memphis” the Rain”; and Anita Ward, former Memphis – a boutique branch of buyer/seller special- City Schools teacher and singer of the single Graphic Designer & Photo Editor BRAD JOHNSON ists within Crye-Leike Realtors Inc. “Ring My Bell.” “Your Key to Memphis” consists of Graphic Designer & Illustrator four people, each specializing in a specific EMILY MORROW suburb of Memphis. The team’s objective Senior Production Assistant is to help buyers find the best homes in a SANDY YOUNGBLOOD AISLING MAKI particular area within a specific price range REPORTER Production Assistant and to assist sellers in selling their homes Aisling Maki covers health care, the nonprofit sector and small LAURIE BECK as quickly as possible for as much as the business. Her career has included newspaper and magazine writing, broadcast and new media. Administrative Specialist market will bear. 528-8622 | [email protected] MARSHA PAYNE Along with the rebranding, the team is Senior Account Executive offering a bonus gift to potential buyers. JANICE JENKINS Thompson has been a full-time, li- censed agent for 25 years. She is a lifetime Account Executive member of Memphis Area Association of ROBIN BENDER Realtors’ Multi-Million Dollar Club and is Advertising Director serving as the club’s current president. In DON FANCHER 2010, she closed 51 transactions and in JONATHAN DEVIN Business Development Manager 2011, 65. ARTS WRITER PATRICIA McKINNEY Jonathan Devin is a full-time freelance writer covering arts and entertainment, food and other topics. He began writing profes- Marketing Manager sionally in 2001 while still working in nonprofit administration. DONNA WAGGENER 528-8625 | [email protected] Church Health Ctr. Grant Circulation Coordinator Finance Genie KARITA CREWS To Help Diabetes Program Controller PAM MALLETT The nonprofit Church Health Center has Says … received a $238,000 BlueCross BlueShield of To reach our editorial department, e-mail: Tennessee Health Foundation grant, which [email protected] will allow the center to document the effi- YOU ARE or call: 901-523-1561 cacy of its intervention program for people FREDRIC KOEPPEL Freelance WRITER Published by: with diabetes, a disease that affects nearly APPROVED! Koeppel writes about restaurants and wine. He is a former arts THE DAILY NEWS PUBLISHING CO. 12 percent of the Tennessee population. and culture reporter for The Commercial Appeal and has been 193 Jefferson Avenue Memphis, TN 38103 in Memphis for most of his life. Almost 100 participants have signed up P.O. Box 3663 [email protected] for the center’s 18-month Diabetic Obesity Memphis, TN 38173-0663 NO CREDIT CHECK Tel: 901.523.1561 Weight Loss Pilot Program, which consists FINANCING FOR: Fax: 901.526.5813 of health coaching, diabetic education, www.memphisdailynews.com Desktop Computers counseling by dieticians, and exercise as- The Daily News is a general interest Laptops Computers newspaper covering business, law, sessment and planning. Participation also Plasma Televisions government, and real estate and includes access to Church Health Center development throughout the Memphis Tablets metropolitan area. Wellness, the center’s fitness facility. And More The Daily News, the successor of the Daily Staff members measures participants’ LANCE MURPHEY Record, The Daily Court Reporter, and The weight, hemoglobin A1C values, choles- 98% APPROVED! PHOTOGRAPHER Daily Court News, was founded in 1886. terol, aerobic capacity, waist-hip circum- CALL TODAY Lance Murphey is an award-winning photographer and film- AUDIT PENDING ference and body fat. Participants are also maker. He has 20 years of experience including The (901) 334 8353 Commercial Appeal, The Naples (Fla.) Daily News, the asked to report on their knowledge of dia- Associated Press, The New York Times and Bloomberg. betes, their exercise and eating habits and [email protected] 6 February 4-10, 2012 www.thememphisnews.com

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government State Spending West Tennessee education in Haslam’s budget highlights during State of the State address

BILL DRIES | The Memphis News considering includes an additional $70 million in the grants. Haslam also said he is loosening some of the ground rules for use of the money ennessee Gov. Bill Haslam wasn’t to allow the state to respond more quickly ready to say the state has recovered and in a more flexible way as economic Tfrom the recession. development opportunities arise. But his $31 billion budget proposal On the K-12 education front, Haslam outlined in the Monday, Jan. 30, State of said he saw “no good reason to wait” on the State address included a robust build- moving ahead with plans for new teacher ing program mixed with state pay raises evaluations as the state continues to re- and plans to cut more than 1,000 state search and weigh which evaluation models jobs. work the best. Two of the city’s higher education And he linked the reforms in hiring institutions got important capital commit- and retaining teachers with a broader call ments in the proposal. for changing the system of hiring state And Haslam devoted more of his employees. AP Photo: George Walker IV speech before the Tennessee Legislature He complained of a state hiring and Tennessee Gov. Bill Haslam delivers his State of the State address to a joint session of to higher education than he did to K-12 the General Assembly on Monday, Jan. 30, in Nashville. promotion system in which state employ- education reform, which took center stage ees can move too freely from one depart- in his first State of the State address a year toward planning and design of the uni- of the state. ment to another. As a result, the number of ago. versity’s new biology facility. The univer- “It’s critical that we finish the infra- state employees can’t be reduced beyond Haslam’s budget includes $264 million sity wants to continue its move toward a structure,” Haslam said of the state fund- a certain point. He called it “an antiquated for capital outlays in higher education that higher profile as a research university. ing for the megasite. system that limits who we can hire.” were among the first victims of the reces- Also in the budget: $21.7 million for a He and his predecessor, Democratic Haslam announced a “salary survey” sion. With the outlays came a cautionary new patient diagnostic simulation center Gov. Phil Bredesen, have each been criti- that will take a new look at how much state note from Haslam that college and univer- at the University of Tennessee Health Sci- cized for not committing to infrastruc- jobs should pay and compare the pay to sity presidents must work to keep tuition ence Center. ture up front as the state tries to lure an wages in the private sector. rates “to a minimum.” Other West Tennessee highlights industry to the site instead of waiting for a Haslam said state revenue projections There is $13.2 million for the University include $25 million in funding for the West tenant to commit and then providing the are “just now recovering” to 2007 pre- of Memphis, which breaks down to $4 mil- Tennessee megasite in Haywood County, funding for infrastructure improvements. recession levels. lion for the second year of the U of M’s op- the last of the three state-designated sites Haslam confirmed his belief in the use His budget proposal would restore eration of Lambuth University in Jackson, that is undeveloped. The state hopes to of state “fast track” grants similar to those $100 million of the $160 million worth of Tenn., and another $8 million for building lure a major manufacturing business to used in Memphis economic development funding cuts in “core services” designated maintenance on the Memphis campus. build a factory on the land, and the legisla- projects in recent years as he announced two years ago during Bredesen’s adminis- The budget also includes $1.2 million ture approved one for each grand division the budget proposal the legislature is now tration.

media Regulated Industries Focus of Conference

SARAH BAKER | The Memphis News tion," Epperson said. "The reality is, that’s relating to highly regulated industries and privacy issues. If you’re in the legal such a rare exception. But those are the such as health care and financial services. world, you’ve got all kinds of issues, and if stories that get passed around, and that’s Those panelists are Epperson; Jim Mulroy, you’re a lawyer, you’ve got clients in all of why it creates confusion and anxiety. Com- managing partner of Jackson Lewis; and those industries." ocial media may not be the first com- panies who are seeing those stories and al- Amy Howell, CEO of Howell Marketing The Daily News and The Memphis munication platform that comes to lowing the risk side of the channel to guide Strategies LLC. News began its Seminar Series last year Smind for those working in highly regu- their decision-making are still missing out The seminar will be relevant for any- to provide the local business community lated industries, but it boils down to another on a lot of communication." one working in the corporate world, with insight into the latest trends within certain means of getting a message across. Local professionals will take a look an emphasis on companies that are in sectors. Last year’s Social Media forum was For instance, there’s a misconcep- at issues like these when The Daily News regulated industry and how those indus- the most attended of all six seminars. tion that the legal community, lawyers hosts its second annual Social Media semi- tries stay in compliance with social media, Thursday’s program will last about 90 in particular, don’t like social media. But nar Thursday, Feb. 9. Howell said. minutes with a cocktail reception to follow. plaintiff lawyers love social media, said The seminar is sponsored by Jackson "If you’re in a regulated industry like The cost is $25. While seating is available, Eric Epperson, vice president of corporate Lewis LLP and will be held at 3:30 p.m. at banking, health care or finance or law, this those interested are encouraged to register culture and communications at Pinnacle the Memphis Brooks Museum of Art audi- seminar is for you," Howell said. "If you’re as soon as possible. Airlines Corp. torium, 1934 Poplar Ave. The discussion, an investment banker, you have ENRA To register, visit www.memphisdaily- "You hear more about the cases that led by globally recognized social media (exclusive negotiating rights agreement) news.com/seminar. go against companies where an employee expert Glen Gilmore, will focus on social and SEC (Securities and Exchange Com- Inquiries can be directed to The Daily or someone representing the company media legal landmines. mission) to worry about. If you’re in health News’ marketing manager Donna Waggen- shared information that shouldn’t have Following Gilmore’s keynote, a panel care, you have HIPAA (Health Insurance er at 528-8122 or dwaggener@memphis- been shared or gave the wrong informa- of industry experts will also explore issues Portability and Accountability Act) issues dailynews.com. www.thememphisnews.com February 4-10, 2012 7

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structure for the consolidated school system, let alone delve into which schools Schools Planning Commission would be attended by which students. Mays ruled the state laws governing schools consolidation were legal including Dealing With Old Fears the planning commission that is to create the blueprint for how that new school system is structured and how it will func- BILL DRIES | The Memphis News tion. The court order also set the date for the merger. The settlement agreement among all parties in the lawsuit that followed the rul- he last time many Shelby County coming merger of Shelby County’s two apart. I think that to the extent people feel ing set the structure for the merged school Schools system parents remember public school systems in August 2013. this is a repeat of that process – that’s just board that governs both systems now and T this much turmoil about local edu- But the sentiment and its influence wrong,” Kiel said. “It feels in some ways is then pared down to govern the consoli- cation was when they were children nearly is present, says Daniel Kiel, a planning like a continuation of an effort to equalize dated school system. 40 years ago. commission member and a professor education opportunities or make educa- “I think it is informing people’s feel- If their children are younger and they at the University of Memphis Cecil C. tional opportunities more broadly avail- ing,” Kiel said of echoes from the busing have no first-hand memory of court- Humphreys School of Law. Before he able. But it is not a situation where you are era. “But it is not informing the work of the ordered busing that began in 1973, other found himself with a seat at the table for going to have a court ordering a school TPC or the work of the school board. It’s parents have almost certainly heard sec- the merger planning, Kiel had studied and district to do things. This is much more not informing legal requirements of the ondhand of the era in which Memphis City written in detail on the desegregation of collaborative of a process.” process.” Schools students in one neighborhood MCS in the 1970s. To that end, Kiel presented last week a The sentiment is just one part of what were bused to another neighborhood for “The fears that people have about this primer on Plan Z court-ordered busing in transition planning commission members purposes of racial integration. process are so much echoing fears from Memphis and what the current process is are hearing as their public meetings with It is perhaps a function of the passage the desegregation process and are in many for consolidating the school systems. citizens pick up in frequency and vary in of time that the experience hasn’t come ways driven by the outcomes from the de- Plan Z was the name given by Mem- location. up more in the public hearings that began segregation process – busing and the white phis Federal Court Judge Robert McRae The hearing last week at Mississippi this month by the schools consolidation flight and the annexation that resulted,” to the specific court order he issued that Boulevard Christian Church drew more transition planning commission. It’s also Kiel said. “All of that, I think, is reflective of set out which students would go to which than 150 people. Many were Memphis City surfaced in other meetings by the various exactly what happened.” schools. School system parents who want the new suburban governments outside Memphis But he is quick to add there is a “huge, Last year’s ruling by Memphis Federal merged school system to come to retain weighing still tentative plans to form their stark contrast” between then and now. Court Judge Hardy Mays in the schools optional schools programs as well as CLUE own school districts as a reaction to the “We couldn’t really legally be further consolidation case did not set any specific programs for “gifted” students.

REVIVING 5,000 YEARS OF CIVILIZATION.

SHEN YUN. For Chinese, the words evoke a sense of wonder, magic, and the divine. To audiences who have seen it, they recall the experience of a lifetime—a moment so powerfully beautiful it touches the soul. For 5,000 years in China, culture was heralded as a divine gift. Its glory was long the inspiration of countless artists and poets, until this herit- age was nearly lost… Today, New York-based Shen Yun Performing Arts seeks to revive this once-majestic tradition by creating a production worthy in its beauty of this noble history—something that enriches the lives of audiences in powerful, lasting ways. “A great boost. Discover the grandeur of a fantastically rich culture, that of classi- — Marguerite Piazza cal China, brought to life through brilliantly choreographed dance Famous Soprano and Philanthropist and mesmerizing, all-original orchestral compositions. Magnificently cosumed dancers—the world’s elite—move in poetic arrangements that evoke pastoral beauty, imperial drama, and the glory of an ancient civilization. This season, discover what art was meant to be. Discover Shen Yun. MARCH 6-7 7:30PM, 2012 CANNON CENTER Hotline: 1-888-389-1614 ALL-NEW SHOW | WITH LIVE ORCHESTRA Online: shenyun2012.com Price: $50, $60, $80, $90, $120 ShenYun2012.com 8 February 4-10, 2012 www.thememphisnews.com

Checking on The BUSINESS DEVELOPMENT Pulse of The State of the Union Biz Book Author Talks

The GOP primary battle has grabbed the political headlines for most of the past few Spirit of Service months, while campaign season from President Obama’s perspective officially kicked off last ANDY MEEK | The Memphis News week with the State of the Union address. With so many eyes focused on the ballot box this year, we would be remiss not to at least address the speech. In this space a few weeks ago, we wrote Business consultant and author of business book bestsellers visits the following: “Between now and then (November) we will Memphis to share ideas that can be translated into success hear countless debates around policy proposals centering on restructuring our tax code and ra- usiness consultant Dr. Joseph Michelli got was the subject of another of Michelli’s deep dives into tionalizing entitlements. … Count this strategist pretty much the entire crowd on its feet during a an organization that he turned into a successful book. as hopeful that the unsustainable entitlement Bprivate reception at the University of Memphis In “The Starbucks Experience: 5 Principles for Turn- path and hosted by masterIT. ing Ordinary into Extraordinary,” Michelli wrote about distorted It was a joint event Thursday, Jan. 26, between how Starbucks’ success is attributable to the way it tax code the Lipscomb Pitts Breakfast Club, and the U of M’s creates “personalized customer experiences” and does receive the MILE and LEAD programs. In keeping with the spirit things like energizing employees and creating custom- country’s of mentorship that animates much of those groups’ er loyalty all at once. full atten- efforts, Michelli – the author of business book bestsell- Michelli kicked off his talk at the U of M in an tion. Prog- ers like “The Zappos Experience: 5 Principles to Inspire, unconventional way. He decided to start with the idea ress on Engage and Wow” – at one point posed a few questions. of death. either How many of you are mentors? He told the crowd about a business in Japan where MARK SORGENFREI JR Many people in the crowd of students, educators actual coffins were brought in, and executives as part the worldly investor of those and business leaders stood up. of an exercise laid inside them for 30 minutes. Those fronts, But when Michelli followed that up by asking how executives were then asked what they thought about through a change in command or direction, many people in the crowd aspired to be a mentor to while laying there, the trappings of death around them. would feel really good.” someone in the future, nearly everyone was soon on Likewise, Michelli fired his crowd up early by ask- Unfortunately, from my recollection, the their feet. ing, “What’s your life going to be about? What’s the president made only a very fleeting reference to Michelli was in town in recent days as a guest of point?” our main entitlements: Medicare, Medicaid and the Lipscomb Pitts Breakfast Club to share some of his Michelli has carried his message to clients that Social Security. ideas that can be translated into powerhouse customer range from Nokia to the American Cancer Society to On the tax front, while he was light on details, service principles for businesses. Hewlett Packard. A recent Amazon.com customer the president did at least address the topic. On “My legacy is pretty simple,” he said. “I’m here to review of his Starbucks book described it as full of the corporate side, he focused some tax breaks change the way people serve.” “pretty straightforward storytelling with some ‘Ideas to for companies in the manufacturing arena, in- Michelli spoke at the U of M only a few days before Sip On’ at the end of each chapter. It's up to the reader creasing taxes on those who “outsource jobs” or he’s scheduled to be in the office of Howard Schultz, to decide how much of this is relevant and useful, and “move jobs and profits overseas,” while reward- the chairman and CEO of Starbucks – whose company what the important lessons may be.” ing those companies who do the opposite. Ad- ditional reports surfaced last week that Obama will propose an overhaul of the corporate tax system next month, presumably building on the themes laid out in his speech, but possibly add- education ing even more reforms. For individuals, the primary proposal from the State of the Union was temporarily continu- ing the payroll tax cut, while permanently raising Math Software: Success at U of M tax rates on higher income earners.

Three different GOP candidates (Rick BILL DRIES | The Memphis News Santorum, Mitt Romney and Newt Gingrich) have been victorious in the first three caucuses/ primaries. Of those three, Romney is the only one who has not (yet) laid out a comprehensive ath professors at the Uni- in the near future. tary algebra. reform plan that limits the number and scope versity of Memphis are MCS superintendent Dr. Kriner “I started with elementary of deductions, lowers rates and expands the Mclaiming success in using Cash has already named a principal calculus because for students it is percentage of people who pay income taxes math lab computer software to close for the STEM Lab and Virtual High a terminal math course,” she said. (think 1986). He has hinted recently that he is achievement gaps among students. School at East High School. The “It has been a struggle to retain stu- considering a long-range plan in the mold of The nearly four years of work facility, which is scheduled to open dents. … I thought there was a way Obama’s Simpson-Bowles deficit commission with the MyMathLab software fo- this August at the start of the new to experiment.” recommendation, but it is only lip service at this cused on elementary calculus cours- school year, will be used by students The experiment retains the point. The Republican candidates have preferred es and show pass rates increased 23 in the engineering program at East traditional component of lecturing, so far to instead focus on Freddie Mac contracts, percent during that time. High as well as students taking but makes the lectures shorter and a blind trust investments and lunar colonies. The MyMathLab software in- similar classes at John P. Freeman move to the lab quicker. As we have stated numerous times in this cludes online courses designed to be and Havenview Middle Schools. The “This method and this compo- space and in our own previous State of the used with textbooks. The software lab will be funded with $1 million in nent actually accommodates that Union presentations, we believe that bold and textbooks are made by Pearson federal Race to the Top funding as better than if a student is attending entitlement and tax reform would do wonders Education. well as state education funding. a class, the teacher is lecturing and not only for the long-term fiscal situation in our The combination is a popular Shelby County Schools leaders sporadically (the students) are asked country, but also for investor confidence. Plans one as higher education and K-12 have a different STEM virtual lab to solve some problems,” Botelho are there for the taking. Investors are clamoring school systems devote more atten- planned that puts less emphasis on said. for somebody on either side of the political aisle tion to “STEM” curriculum empha- a central lab with its own location. Botelho next wants to see how to take the baton and run with it. sizing science, technology, engineer- U of M mathematics professor the lab performs with students ing and mathematics. Math labs are Fernanda Botelho began using the taking college algebra and trigo- Mark Sorgenfrei Jr. is vice president and invest- a common part of STEM plans. Pearson MyMathLab software in the nometry, a gateway course for STEM ment analyst for Waddell & Associates Inc. The Memphis City Schools and spring of 2008 for elementary calcu- majors that draws students who Shelby County Schools are each lus courses she taught as other math are doing more than fulfilling basic making plans for virtual STEM labs teachers were using it for elemen- math requirements. www.thememphisnews.com February 4-10, 2012 9 Money&Markets Extra

Can dividend-paying stocks post mentum this year, but I don’t think enjoyed, they’re no longer attrac- tence. A lot of their prospects will probably smoke and drink more. another strong year like 2011? we’ll see a sudden shift to a risk-on tively priced. We think the market be dictated by growth in customer You tend to have steady growth. Drawn to Markets shift, but Daniel Genter scenario, where dividends fall out is shifting to focus much more on deposits, and you’re much more And they’re classic from the stand- still likes dividend stocks this year. of favor. Most investors have seen earnings, rather than just the per- likely to see single-digit growth point of what you’re looking for in dividends The CEO and chief investment their portfolios crash twice in the ceived safety that stocks like utili- than double-digit growth. high dividend stocks. officer of RNC Genter Capital past decade or so – when the dot- ties offer. Utilities can’t continue to Management says dividends com bubble burst, and then during outperform in that environment. A couple of the larger holdings Tax rates on dividend income remain a key part of the strategy at the financial crisis. Many investors at RNC Genter Dividend Income currently top out at 15 percent. InsiderQ&A the Los Angeles-based manager of are hitting retirement, and they What about banks? They had a are tobacco stocks, Philip Mor- But that historically low rate more than $3.7 billion. They’re also don’t have time to suffer through rough 2011, but have been com- ris International, and Altria could end in 2013 unless Con- the focus of the RNC Genter more volatility, so dividend stocks ing back this year. Group. Last year, they gained 39 gress approves an extension. Dividend Income Fund (GDIIX), remain attractive. It’s still too early for us to jump in. percent, and 27 percent, respec- What are your expectations? which his company manages. Our strategy is a high-dividend tively. Do you continue to see I’d expect a compromise, with Dividend-paying utilities stocks strategy, not a “hope for high divi- growth for tobacco stocks? rates rising to 20 or maybe 25 per- Why do you think 2012 will be a were the strongest performers in dends” strategy. The big banks With those two stocks, you get cent. It’s going to be a hot political strong year for dividends? the market in 2011, but they’ve face such a large regulatory bur- strong dividend flow. We think it’s topic. With dividends, it’s not just a Last year was a risk-off scenario, been lagging this year. Do you den now that growth prospects are good to have some addiction rich man’s game anymore. A very where investors gravitated toward think the short-term opportunity limited. They may end up like the stocks, because they tend to be big part of the population is really conservative stocks with greater is over in that sector? new version of utilities, where the stable in good times and bad. If living off dividends now, with bank Genter earnings visibility and less volatility. The outlook isn’t so bright. With high-profit segments of their busi- people are happy, they smoke and certificates of deposit and money Those trends might lose a little mo- the run-up that utilities stocks have ness will be regulated out of exis- drink, and if they are sad, they market funds earnings about zero.

BEHIND THE BRAND AMAZON.COM (AMZN) Changing Penney’s Amazon’s Everyone wants to see what Ron Johnson will do for How did you come up with the new pricing J.C. Penney. Johnson pioneered the cheap chic image strategy? growing pains at discounter Target. At Apple, he changed the way we Pricing is actually a pretty simple and straight forward shop for electronic gadgets. thing. Customers will not pay literally a penny more Already a mammoth online Johnson, 52, is now CEO of Penney. He’s borrowing than the true value of the product. And as I have been retailer, Amazon.com has its from Apple’s playbook by innovating Penney stores. He watching the department stores for the past decade, I sights on getting even bigger. has created a new everyday price policy. He’s making have been struck by the extraordinary amount of But investors are doubting its Thursday’s close services, not just merchandise, part of what Penney does. promotional activity, which to me, didn’t feel like it was ability to meet their expectations. He has challenges: Department appropriate for a department store. This week, Amazon surprised $181.72 stores have lost market share to What are your plans to make the investors by reporting fourth- J.C. Penney (JCP) 52-week price range retailers like H&M and Zara. Penney’s shopping experience more quarter revenue that was $1 Thursday’s close middle-class customers have been hit exciting? billion short of forecasts. $160.59 $246.71 Revenue rose 35 percent from a hard by the economy. Younger We’ll transform the buying experi- $41.41 year earlier to $17.4 billion. Price-earnings ratio: 96 customers aren’t attracted to Penney. ence not unlike what we did at 52-week price range Analyst Colin Gillis of BGC (based on last 12 mos.) For the 11 months through Decem- Apple. 1-yr. stock change: 4.7% $23.44 $42.29 Financial said the company ber, Penney's revenue at stores open at When will we see improvements? “didn’t really give a good answer” 1-yr. S&P 500 change: 1.7% least a year — a standard for measuring Price-earnings ratio: 50 You’ll start to see the experience as to why revenue didn’t meet Market value: $82.7 billion a retailer’s health — rose 0.7 percent. (based on past 12 mos.) change month by month. Everyone expectations. Amazon also gave Target stock price: $216.34 Sales at Macy’s rose 5.4 percent. YTD stock return: 17.75% thinks it’s an overnight success but it a lackluster forecast for the Johnson spoke with The Associated never is. I was at Apple from 2000 to current quarter. Avg. broker rating: Press recently. Here are excerpts: Market value: $8.8 billion 2011, but it wasn’t until 2004 that the Investors responded by What was your first impression of Target stock price: $39.69 iPod became an important part of sending Amazon down 8 SELL HOLD BUY Penney? Avgg. analysty rating:g hold people’s lives. It wasn’t until 2007 percent. I would describe J.C. Penney as onee ofof ththat Apple reinvented the phone. It But the company expects a handful of great American brands that wwasn’t until 2009 that Apple strong growth in the future. It seemed like it was dormant, that hadd lalaunched the iPad. has been adding employees and been a great part of the fabric of WWhat ideals have you embraced investing in new fulfillment centers to handle more orders. Consumers America for almost a century but it justust ffrom Steve Jobs? are increasingly buying everything from books and electronics to pet food online. Shoppers spent more money online last holiday season than wasn't modern. It wasn’t top of mind.d. TThe importance of doing everything ever before. Everybody can tell a story about theireir yyou do to your very best. And that And Amazon is getting help from sales of the Kindle Fire, launched in mom or their grandma or the old catalogtalog ththe journey is the reward. If you do November as an answer to Apple's iPad. Sales of Amazon's line of Kindle days. But they don’t have modern ththings well one at a time, you end up tablet computers and e-reader gadgets nearly tripled in the last three stories. in a really good place. months of 2011 from a year earlier. Source: FactSet Anne D’Innocenzio, J. Paschke Source: FactSet Data through Feb. 2 Alex Veiga, Jenni Sohn • AP

LocalStocks 52-WK RANGE CLOSE YTD% 1YR% 52-WK RANGE CLOSE YTD% 1YR% COMPANY TICKER LO HI CLOSE THUR. %CHG WK MO QTR CHG RTN P/E DIV COMPANY TICKER LO HI THUR. CHG %CHG WK MO QTR CHG RTN P/E DIV AT&T Inc T 27.20 6 31.94 29.79 +.19 +0.6 s t t -1.5 +12.4 45 1.76f MedcoHealth Sol MHS 44.60 9 66.38 63.12 +.25 +0.4 s s s +12.9 +1.1 18 ... AutoZone Inc AZO 247.36 0 353.48 349.17 -3.82 -1.1 s s s +7.4 +38.4 17 ... Medtronic Inc MDT 30.18 8 43.33 39.80 +.18 +0.5 s s s +4.1 +5.2 12 0.97 BancorpSouth BXS 8.23 5 16.25 11.77 +.17 +1.5 s t s +6.8 -25.3 26 0.04 Merck & Co MRK 29.47 0 39.43 38.44 -.19 -0.5 t t s +2.0 +18.2 19 1.68f Boyd Gaming BYD 4.12 6 12.78 9.16 +.12 +1.3 s s s +22.8 -19.6 dd ... Mid Amer Apartments MAA 55.10 5 73.36 64.14 -.47 -0.7 s s s +2.5 +5.1 64 2.64f Buckeye Technology BKI 22.45 8 38.50 33.76 -.35 -1.0 t t s +1.0 +33.3 14 0.28f Monsanto Co MON 58.89 0 83.95 82.13 -1.28 -1.5 s s s +17.2 +11.2 26 1.20 Community Hlth Sys CYH 14.61 2 42.50 18.97 +.09 +0.5 t s s +8.7 -46.7 7 ... Mueller Inds MLI 32.10 9 47.72 44.80 +.20 +0.4 s s s +16.6 +34.7 19 0.40 Corrections Corp CXW 18.41 7 26.43 23.40 -.30 -1.3 t s s +14.9 -5.0 15 ... Navistar Intl NAV 30.01 4 71.49 45.91 +.59 +1.3 s s s +21.2 -28.7 9 ... Cummins Inc CMI 79.53 9 121.49 113.31 +7.49 +7.1 s s s +28.7 -0.2 13 1.60 Nike Inc B NKE 69.43 0 104.94 102.82 -.93 -0.9 s s s +6.7 +25.7 22 1.44f Delta Air Lines DAL 6.41 9 12.13 11.10 +.20 +1.8 s s s +37.2 -7.5 10 ... Pinnacle Entert PNK 8.06 3 15.50 9.92 +.02 +0.2 t t t -2.4 -35.4 dd ... Dillards Inc DDS 37.87 4 61.08 45.22 +1.33 +3.0 t s s +0.8 +10.3 12 0.20 Regions Fncl RF 2.82 5 8.09 5.44 +.12 +2.3 s s s +26.5 -26.8 32 0.04 Dover Corp DOV 43.64 8 70.15 64.52 +.09 +0.1 s s s +11.1 -0.2 14 1.26 Renasant Corp RNST 11.80 8 17.59 15.90 ...... s s s +6.0 +3.7 16 0.68 DuPont DD 37.10 8 57.00 51.40 -.16 -0.3 s s s +12.3 +3.0 14 1.64 Sara Lee Corp SLE 15.66 0 19.80 19.85 +.83 +4.4 s s s +4.9 +13.3 14 0.46 Education Realty Tr EDR 7.16 0 10.86 10.66 -.16 -1.5 t s s +4.2 +39.2 dd 0.28 Smith & Nephew PLC SNN 42.07 5 60.35 50.60 +2.13 +4.4 s s s +5.1 -12.9 72 0.82e FedEx Corp FDX 64.07 9 98.66 92.79 +.09 +0.1 t s s +11.1 +0.6 17 0.52 Smucker, JM SJM 61.16 0 81.40 79.74 +.14 +0.2 s s s +2.0 +32.0 20 1.92 Fst Horizon Natl FHN 5.38 6 11.95 9.02 +.13 +1.5 s s s +12.8 -23.9 16 0.04 Suntrust Bks STI 15.79 4 33.14 21.31 +.27 +1.3 s s s +20.4 -32.4 20 0.20 Freds Inc FRED 10.27 0 15.26 14.87 +.20 +1.3 t s s +2.0 +8.7 18 0.20 Synovus Fincl SNV 0.94 5 2.93 1.80 +.04 +2.3 s s s +27.7 -33.3 dd 0.04 GTx Inc GTXI 2.27 9 6.86 6.08 -.15 -2.4 s s s +81.0 +125.7 dd ... Sysco Corp SYY 25.09 8 32.76 30.63 +.22 +0.7 s s s +4.4 +7.8 16 1.08f Ingram Micro IM 15.45 7 21.63 19.26 -.06 -0.3 s s s +5.9 -4.2 12 ... Thomas& Betts TNB 37.51 0 71.47 71.31 -.05 -0.1 s s s +30.6 +35.0 20 ... Intl Paper IP 21.55 9 33.01 31.60 +.22 +0.7 s s s +6.8 +9.4 10 1.05 Trustmark TRMK 17.06 8 25.89 23.92 +.06 +0.3 s t t -1.5 +0.9 14 0.92 Isle Capri Casino ISLE 3.90 3 9.95 5.30 +.11 +2.1 s s s +13.5 -46.8 38 ... Tyson Foods TSN 15.60 6 21.06 18.62 +.10 +0.5 t t t -9.8 +8.9 9 0.16 Kellogg Co K 48.10 3 57.70 50.59 +1.28 +2.6 s s r ... +1.6 15 1.72 UPS class B UPS 60.74 0 77.18 76.38 -.40 -0.5 s s s +4.4 +5.7 20 2.08 Kirklands Inc KIRK 7.69 0 16.23 16.58 +1.33 +8.7 s s s +24.7 +11.5 19 ... Utd Technologies UTX 66.87 6 91.83 80.02 -.20 -0.2 s s s +9.5 +0.3 15 1.92 Kroger Co KR 21.14 7 25.85 23.97 +.14 +0.6 t t t -1.0 +11.8 12 0.46 Valero Energy VLO 16.40 6 31.12 24.08 +.10 +0.4 t s s +14.4 -6.8 7 0.60 LifePoint Hosp LPNT 28.95 9 43.45 40.66 -.13 -0.3 s s s +9.4 +15.2 13 ... Verso Paper Corp VRS 0.85 1 6.37 1.32 +.12 +10.0 s s s +37.5 -75.4 dd ... Macy’s Inc M 21.69 0 35.92 35.23 +1.24 +3.6 s s s +9.5 +51.0 13 0.80f Wright Medical Grp WMGI 13.37 8 19.05 17.49 +.17 +1.0 s s s +6.0 +15.1 23 ...

Dividend Footnotes: a - Extra dividends were paid, but are not included. b - Annual rate plus stock. c - Liquidating dividend. e - Amount declared or paid in last 12 months. f - Current annual rate, which was increased by most recent dividend announcement. i - Sum of dividends paid after stock split, no regular rate. j - Sum of dividends paid this year. Most recent dividend was omitted or deferred. k - Declared or paid this year, a cumulative issue with dividends in arrears. m - Current annual rate, which was decreased by most recent dividend announcement. p - Initial dividend, annual rate not known, yield not shown. r - Declared or paid in preceding 12 months plus stock dividend. t - Paid in stock, approximate cash value on ex-distribution date. PE Footnotes: q - Stock is a closed-end fund - no P/E ratio shown. cc - P/E exceeds 99. dd - Loss in last 12 months. 10 February 4-10, 2012 www.thememphisnews.com

Consider Student REAL ESTATE & DEVELOPMENT Loan Debt Carefully

Ray’s Take: Student loan debt in this country now totals over $920 billion; that out-distances total credit card debt by $120 billion. Even more alarmingly, this is a 10,000 percent increase in a mere 14 years. That’s a huge headwind for young people who are just start- ing to find their financial footing. So, are student loans to be avoided? Not always, but they should be considered carefully and shopped for thoughtfully. Keep in mind that college graduates earn an average of $1.3 million more over their lifetimes than those whose education ended with high school. However, most of that earning power comes ray & dana Brandon later in life, not rays of wisdom during the early years when loans must be repaid. Besides, that is an average, which means for many college grads that extra debt load may not pay off. Photo: Lance Murphey The decision to apply for student loans should Carol Lott, 2012 president of the Memphis Area Association of Realtors, speaks to area Realtors during her first be approached in a business-like manner: Can you “President’s Coffee” session, a new way to connect to members and hear their concerns. expect a worthwhile return on your college invest- ment that would justify this expense? Or do you need to consider alternatives, such as postponing college for a year to earn money or starting out at a less expensive community college? Lott Brings Perspective The answer depends largely on the degree being pursued and how the workplace rewards that degree. New MAAR president brings experience, knowledge to job Financial compensation is certainly not as important as a career that provides personal fulfillment. How- ever, it may not be the best plan to go into a field with low-income expectations burdened with student SARAH BAKER | The Memphis News love it and I love helping people real- and pending sales from Downtown loan repayments. izing a dream. It’s like I get to pay it to Collierville. In addition, it’s important to shop carefully for forward every day.” “We sold a condo yesterday,” Lott loans. While federal student loans can have inter- Licensed in Tennessee for more said. “I sold the condo from 2:30 to est rates as low as 3.4 percent, private lenders are ong before Carol Lott was than 25 years, Lott joined Crye-Leike 3:30, and then she’s done everything charging rates as high as 18 percent or more. That’s buying and selling houses, her Realtors Inc. at the beginning of 2012 else. But she was at the house, so she a huge difference. Lfirst job was selling popcorn after being at Prudential Collins- could do everything electronically Bottom line: If a student loan is necessary to and movie tickets at the Frayser 3 Maury Realtors Inc. Residential real because we’re totally paperless. She help a young person earn a college degree that will Movie Theater. estate firms she worked for before keeps me on task. I don’t know what improve his life, slow down. Just consider it care- She worked in the restaurant that includes RE/MAX on the River I’m doing. I go to the office and go, and Banyan Tree Realtors. ‘What do I need to do right now?’ fully because that loan will have to be paid back. And business – including a pit stop at the Wendy’s on U.S. 51 – before attend- She’s closed $145 million in And she says, ‘You need to do X, Y, Z,’ soon. ing the University of Tennessee at transactions and is a lifetime mem- and that’s what I do.” Knoxville. ber of MAAR's prestigious Multi- Lott plans to bring to MAAR what Dana’s Take: She had no family history in Million Dollar Club. she practices in her own real estate I’m a big believer in the pay-as-you-go method sales, and even earned a D in the MAAR’s membership peak was business – efficiency. By late spring, when it comes to financing college. If not enough first real estate class she took. in August 2007, when the count she reported to the group over coffee money has been saved to cover the cost, then com- But in true Lott fashion, she took was about 5,400. These days, the and breakfast cakes, the Multiple promises need to be made. another stab at principles of real trade organization has about 2,800 Listing Service will have a mobile There are certainly plenty of options to avoid estate and aced the course. members. app. putting oneself in debt. Two possibilities are working “That’s when I thought that That’s why Lott’s main focus this “Our profession has gotten part-time or going to school part-time. Opting for a maybe I could pursue this real estate year is on the association’s members. faster,” Lott said. “We do everything less expensive college or going to a local college and thing,” Lott said. “My first listing was She hosted her first “President’s Cof- quicker because of technology. We living at home are two others. a $10,000 duplex on Breedlove. I got fee” session Friday, Jan. 27, as a way sell more and get more done be- There are a number of ways to reduce or post- both sides of the transaction and the to connect to members and hear cause we drive less and communi- pone college expenses before considering going into investor that purchased the home their concerns. cate more.” debt. Each and every one of them needs to be hon- wrote his own offer. It was so simple She shared her personal experi- Also on Lott’s agenda is for MAAR estly considered before opting for the “money now, and smooth I thought, ‘Wow, what ences with going paperless, work- to raise $105,000 for the Realtors pay later” of a student loan. an easy job.’” ing 14-hour days and even fitting Political Action Committee, the The last thing young people need when starting To Lott – the 2012 president of running and playing Sudoku into her national voice of real estate agents their careers and establishing their households is a the Memphis Area Association of jam-packed schedule. on Capital Hill. The National As- mountain of debt looming over them. Realtors – it’s all about perspective. “Busy people get more things sociation of Realtors’ goal for MAAR While a student loan can be helpful, not having to At her inaugural address Friday, Jan. done,” Lott said. “I think I’m just in is to raise $50,000, and to Lott, that’s repay one can be priceless. 20, at Opera Memphis, more than the zone maybe. When you’ve got setting the bar pretty low. Ray Brandon is a certified financial planner and 350 people heard her message about a list of things to get done, you just “They take each member and CEO of Brandon Financial Planning (www.brandon- believing in oneself and encouraging put it on your calendar and that’s multiply it by $15,” Lott explained. planning.com). His wife, Dana, has a bachelor’s degree others. just what you have to do. I’ve got an “That’s nothing. I spend that in three in finance and is a licensed clinical social worker. “I approach real estate like ev- Amanda, too. Everyone should have visits to Starbucks. We’re the only Contact Ray Brandon at raybrandon@brandonplan- erything else in my life – with energy, an Amanda.” group that advocates homeowner- ning.com. enthusiasm and a positive attitude,” Amanda is Lott’s daughter. ship, and the only way we’re going Lott said. “Every deal we do in real Together, the two make up The Lott to be able to do that is by partnering estate is different from the last one. I Team and tag-team home listings with politicians.” www.thememphisnews.com February 4-10, 2012 11

REAL ESTATE & DEVELOPMENT Real Estate Pros Figuring Out New Reality

SARAH BAKER | The Memphis News down 40 percent. By 2010, Beasley was Fifty-seven percent of all home sales Fannie Mae continues to hold the most reaching into his savings. in Shelby County were less than $100,000. properties in foreclosure inventory with But in the last six months Sowell & Co.’s Home sales more than $1 million were 522 properties valued at $70 million. figures have seen about a 7 percent uptick. down 40 percent with 22 recorded for the “I think residential foreclosure are he real estate market isn’t projected “It’s taken four or five years to get to year. going to pick up this year into 2013,” said to get back to the pre-bubble burst- where we are now,” Beasley said. “It’ll take Lisa Reid, executive vice president Cleo Stevenson, regional appraiser with Ting days of 2007 anytime soon. us eight years to get back up. At least we’re with Magna Bank, said the housing crisis Synovus Bank. “I also think we’ll see an It’s part of the new reality that agents moving in the right direction.” didn’t spare anyone, no matter what their uptick in higher-end foreclosures, too.” across the board are coping with, and it The forum, held at the Great Hall of economic status. On the home construction front, 670 was the heart of the discussion Thursday, Germantown’s Media Room, discussed “It doesn’t matter if you have a high or new home permits were filed last year, Jan. 26, when real estate information com- residential and commercial sales, plus new low credit score, foreclosures are all over down 11 percent from 2010. The average pany Chandler Reports hosted its “Master housing and loan activity. the board,” Reid said. permit amount totaled $232,745. Your Market: 4th Quarter 2011 Update.” Residential sales last year were at the But in some parts of town, Magna Bank The top builder in 2011 was Regency “For those of you who are counting, it’s lowest number since 1982 when there has seen slight appreciation, Reid said, Homebuilders who filed 169 permits aver- been four years, five months and 26 days were 9,538. The average sales price was at such as certain areas in Germantown like aging $224,222. since real estate agents’ world was turned the lowest level since 1998, according to the Enclave subdivision. Meanwhile, local commercial sales in upside down,” said Ed Beasley of Sowell & Chandler Reports. Each month since July Bank sales made up 27 percent of all 2011 totaled 726, up 11 percent from 656 Co. Realtors who spoke at the event. had year-over-year improvement, which sales, down from 32 percent in 2010. Bank sales during the previous year. Last year Beasley’s sales from 2004 to 2006 were was expected from last year’s expiring tax sales in Frayser’s 38127 ZIP code and Ra- tallied the most commercial sales in one all about the same. Then in 2008, sales credit, but December faltered and sales leigh’s 38128 were down 23 percent and 27 year since 2008, averaging 60 sales and were down 30 percent. In 2009, sales were were down 6 percent from December 2010. percent respectively. $66.6 million per month. Last year had the lowest number of CRE sales averaged $1.1 million in 2011 foreclosures since 2005, before the sub- and totaled $799 million in sales volume, prime mortgage crisis hit, and only eight of compared to 2010’s average sales price of the county’s 34 ZIP codes saw an increase $847,558 and total sales volume of $556 in foreclosure activity. million. Are You on Board Cordova North (38016) had $31.3 mil- lion of foreclosure inventory value at the Chandler Reports is a division of The Editor’s Note: This is the second in a five- blower protection. Produce and distribute end of the year, the highest in the county. Daily News Publishing Co. Inc. part series on roles and responsibilities. an annual report that shows how the or- ganization uses the funds it receives. File You’ve said “yes,” and now are serving your federal 990 on time. Communicate on the board. What is expected of you? how the organization meets public needs How do you demonstrate leadership? and be willing to modify programs to help While we don’t have a crystal ball, we can ensure best use of resources. provide guidance regarding your fundrais- On a day-to-day level you will be SEMINAR ing-related roles and responsibilities. responsible for understanding the 2012 For many nonprofits fundraising is institution’s fund development plan and SERIES often the major method for securing in helping to bring it to life. For example, Mark your calendar for a series of informational funds and resources. As if the current focus is business seminars hosted by The Daily News a board member, your strengthening individual and The Memphis News. leadership in this area giving you will want to makes a difference. Your participate in house or roles and responsibili- office parties your -or FEBRUARY 9 ECONOMIC DEVELOPMENT Memphis scored several significant ties fall into two general ganization hosts so you economic development projects in 2011 with companies like Electrolux and Mitsubishi categories: policy and can meet new potential launching expansions in the area. We’ll review 2011 and take a look at the prospects for 2012. oversight, and giving and donors and supporters, securing funds. MEL & Pearl shaw and share with them the APRIL 5 HEALTHCARE REFORM Healthcare reform remains a hot topic with new FUNdraising rules and regulations taking effect each year through 2013. We’ll take a look at the As a board member important work of the impact the legislation is having and what we can expect in 2012-2013. you will be asked to set institution. As a board fundraising policy. This includes items JUNE 7 MONEY & MARKETS The international, national and local economies have member your hospitality and words carry been under tremendous pressure since The Great Recession of 2008-2009. We’ll take a such as approving plans for a special meaning and influence. look at how the economy is recovering and what the markets have in store for us in 2012. fundraising campaign, and setting gift You should know the executive AUGUST 2 SUSTAINABLE ENERGY Sustainable energy continues to be a priority acceptance policies. For example, when director’s or president’s vision for the both locally and nationally, and we’ll take a look at how the industry is growing, from the university you serve decides to launch institution. Talk with her. Ask questions. biofuels to green construction. a $150 million fundraising campaign, that Then share that vision with other board SEPTEMBER 20 BUSINESS OF HEALTHCARE Health care remains one of the will come before the board for approval. members and most importantly with primary drivers of economic development in Memphis. We’ll take an in-depth look at the You will want to ask informed questions those who can provide funding and industry, its challenges and opportunities and its outlook for the rest of 2012 and 2013. such as, “What do the results of the feasi- resources. Join your executive when she NOVEMBER 1 COMMERCIAL REAL ESTATE REVIEW & FORECAST With a bility study indicate?” Or, “How many lead meets with leaders of local foundations or focus on commercial real estate (office, industrial, retail and multifamily), we’ll take a look at how each sector has fared during 2012 and what can be expected in 2013. donors have been identified?” In the area corporations. Meet with her in advance to of gift acceptance policies you may be understand the purpose of each meeting asked to determine whether the orga- and then participate, showing support for Each seminar will feature a keynote speaker followed by an interactive nization will accept gifts of land, or cash her leadership. discussion with a panel of industry leaders. A cocktail reception with the speakers gifts from gun manufacturers or tobacco Most importantly, make your own gift. and panelists will follow the presentation. companies. Make a meaningful gift every year. Ask For information on the seminars or sponsorship opportunities, please contact Don Fancher at 901-528-5283 or [email protected]. You will also want to promote account- the company you work for to make a gift ability and transparency. Support the or sponsor an event. You have to give and adoption and implementation of policies advocate. Set an example. Stretch a little. related to conflict of interest and whistle- Your community needs you! 2012 SEMINAR CALENDAR 12 February 4-10, 2012 www.thememphisnews.com

special coverage

special edition: COMMERCIAL & INDUSTRIAL REAL ESTATE GRINDING IT OUT Commercial real estate notches solid year amid still-sputtering economy

SARAH BAKER | The Memphis News

Photo: Lance Murphey The $45 million sale of The Preserve at Forest Creek Apartments in Southeast Shelby County was the largest commercial transaction in 2011. Multifamily sales, which were up 14 percent from 2010, had the most revenue of any property type with 92 sales totaling $298 million.

fter most recessions, real 2011 tallied the most commercial sales markets anywhere,” Fogelman said. “The property field.” estate bounces back. since 2008. There were 726 sales in Shelby only things that could derail us would be if Bank sales accounted for only 7 per- But the Great Reces- County last year, up 11 percent from 656 unemployment increases or the economy cent of last year’s commercial sales with 50 sion has been notably in 2010, according to real estate informa- falls back into a recession and people stop totaling $51.8 million. The total number of different – long, deep and tion company Chandler Reports, www. spending money.” commercial bank sales, however, was up 4 very prolonged. chandlerreports.com. This year is poised for continued multi- percent from 2010. That’s the message CRE sales averaged $1.1 million last family growth because the lending markets Lamberson said he anticipates more Dr.A John Gnuschke, director of the Sparks year and totaled $799 million in sales – Fannie Mae and Freddie Mac – are very foreclosures on the horizon, based on Bureau of Business and Economic Re- volume, compared to 2010’s average sales much in favor of the sector, said CB Rich- when five- and 10-year loans are due from search and co-director of the Center for price of $847,558 and total sales volume of ard Ellis Memphis executive vice president large purchases during 2005 to 2007. Real Estate at the University of Memphis, $556 million. The county averaged 60 sales Johnny Lamberson. A good example of that is Willow Lake delivered in December at the Urban Land and $66.6 million per month in 2011. Overall, 2011 was a better year for Business Park and Corporate Park in Institute’s Real Estate Outlook for the Mid- The largest transaction of the year was investment sales around the country than Hickory Hill. The property sold back to the South. the $45 million sale of the Preserve at For- 2010, but that doesn’t mean the CRE land- lender for $26 million in October following “Clearly, we’re in a period in which est Creek Apartments in Southeast Shelby scape is on the upswing by any means. a foreclosure, proof that record-high va- we’re in a struggle,” Gnuschke said. “We’ve County in June. What’s more, multifamily “There are still a lot of people with cancies and downward pressure on rental lost 6 million or more jobs in the country sales improved 14 percent from 2010 and problem assets,” Lamberson said. “The rates are even causing major players like during the recession – it’s going to take had the most revenue of any property type lending environment – although a little Chicago-based HSA Commercial to feel multiple years to recover. Real (gross with 92 sales totaling $298 million. bit better – it’s still not great, which makes the brunt of the crisis. domestic profit) is not going to grow very 2011 was the best year in the past transactions difficult to get accomplished. Memphis is seen by many investors as much in 2012. It’s not a recession forecast, decade for Fogelman Management Group I wouldn’t say that the landscape for a secondary or tertiary market. While the praise the Lord, at least no time soon. But in terms of operating results, said presi- buyers or sellers is any more aggressive city will face a slow climb, there will be the it’s weak growth.” dent Mark Fogelman. And to top it off, the this year than it was last year. The market occasional large transaction, Lamberson And amid the long grind, Memphis is Memphis-based firm is noticing a rapid fundamentals have really not changed a said. not going to lead the nation out of a reces- decline in its turnover ratios, or the num- whole lot to prop up any values any differ- Case in point is Parkway Properties, sion, Gnuschke said. In the last 10 years, ber of residents moving out each year. ent than they were last year. It’s going to a Jackson, Miss.-based REIT that has this city has netted zero new jobs. “Even though we operate across the take some real time before we start seeing disposed of most of its Memphis portfolio Despite the stagnant job market, country, Memphis was one of our top any significant change in the investment – including the Renaissance Center; Falls www.thememphisnews.com February 4-10, 2012 13

special coverage

Building; Forum I, II & “There is a large amount Anthony Lopes, principal broker of Sperry see activity before then, said Ed Thomas, III; and the Toyota Center of cash on the sidelines Van Ness/Investec Realty Services. They vice president with Colliers International – as part of a larger sale, Memphis aggressively seeking quality are Boyle Investment Co.’s SunTrust Build- Memphis’ office and retail services. and will likely shed its is seen product with quality ten- ing and Highwood Properties’ Triad III, Retail sales were up 25 percent last year final Memphis asset, the ants,” Fields said. “Addition- both near Poplar Avenue/Interstate 240. from 2010 with 139 totaling $123 million. Morgan Keegan Tower. by many ally, owner-occupants are But it took those buildings quite a long Topping 2011’s top retail sales were Belz “The Parkway transac- investors as finding the combination of time to get filled, Lopes said, and that’s Enterprises’ $14 million sale of German- tion is something unusual depressed pricing and loan because of Memphis’ lack of white-collar town Village Square to Boyle Investment for its size and number a secondary terms are making purchases jobs. And with the recent $930 million pur- Co., and the $11 million sale of the former of assets for Memphis or tertiary more attractive.” chase of Morgan Keegan by St. Petersburg, Schnucks-anchored center at 7735 Farm- to see,” Lamberson said. Leasing activity has Fla.-based Raymond James, the city could ington Blvd. to Kroger. “These are large, $50 market. also picked up. In January, lose up to 600 back-office jobs if opera- But not all of last year’s sales were at million plus deals. Those While the Trane U.S. Inc. finalized tions are consolidated. arm’s length. Other top retail sales includ- deals happen office-wise its 625,000-square-foot “That’s potentially 150,000 square feet ed Cross Creek at Winchester and River- once every two years, city will lease on Tradeport Drive in of office space,” Lopes said. “I hope that dale roads – which sold for $12.7 million in maybe even once every face a slow Southeast Memphis, and doesn’t happen, but it’s a very real possibil- foreclosure after selling for $57.5 million in three years.” Kimberly-Clark signed a ity. That’s one way for Raymond James to 2005 – and Germantown Collection shop- Industrial wise, Mem- climb, there 556,000-square-foot lease in recoup their investment, by cutting back ping center in Germantown for $7.3 mil- phis can count on averag- will be the Southaven. And since there in areas where they have a duplication of lion, which also underwent a foreclosure. ing one large transaction is a short supply of industrial services.” “While we haven’t seen the end of fore- per year, Lamberson said. occasional spaces larger than 500,000 On a positive note, office sales were closures, we are seeing investors coming Sales were up 6 percent large square feet, Fields expects up 21 percent last year with 94 total, and in with the capital to maintain and grow last year with 92 totaling a slight increase in rental smaller tenants are staging a comeback. occupancy as they acquire foreclosed retail $148 million. transaction rates in that range. For new “We’re seeing some light at the end properties,” Thomas said. “Creditworthy In August, an entity pop out. construction to occur, Class of the tunnel,” he said. “If you look back local entrepreneurs seem to be feeling of Dallas-based Mayfield A rental rates will need to traditionally at these market cycles, we had more confident in jumping back into retail Properties LP purchased increase 25 to 30 percent. this S&L (savings and loan) debacle that opportunities. We’re not out of the woods a majority of Memphis That being said, “it’s hard really hit hard in 2001, we built the first yet, but in 2012, particularly in the third Depot Business Park near to pick a submarket other new building in 2007, so that was a six-year and fourth quarters, we hope to see some Memphis International than the DeSoto submarket stretch. If you consider the market in 2007 more robust signs of recovery in the retail Airport for $35.8 million. for the speculative comeback,” Fields said. is when it tanked, my projections are we’ll market.” Jeb Fields, vice president of Cushman Also lagging in speculative construc- probably see some obvious improvement & Wakefield/Commercial Advisors LLC, tion is the office market, which has seen into late 2013.” Chandler Reports is a division of The expects sales to continue trending upward. two new buildings in seven years, said For the retail sector, Memphis should Daily News Publishing Co. Inc.

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special edition: COMMERCIAL & INDUSTRIAL REAL ESTATE Palmer Brothers Celebrates 100 Years

SARAH BAKER | The Memphis News

“We had a Palmer Brothers Inc. major client who finds success thanks had property all up and down to strong foundation Germantown Parkway. He built over 100 years had a number of strategic or 100 years, Palmer Brothers Inc. corners that we has operated in a conservative either sold or Fmanner with repeat business from we bought them clients that share the same philosophy. and developed It hasn’t always been a popular posi- them.” tion, but that’s why the commercial real Palmer estate firm is still small, family-owned and Brothers started debt-free. at Trinity Road Palmer Brothers Inc. was founded in and German- 1912 by brothers Robert E. Palmer II and town Parkway, in Marvin H. Palmer on the north side of the center that Madison Avenue between Front and Main houses TJ Mul- streets. ligan’s. Today, the company is owned and In the mid- operated at 841 S. Cooper St. by Marvin H. ’90s, the firm Palmer Sr., who represents the third gen- moved up to eration of the Palmer family after Robert Photo: Lance Murphey the northwest E. Palmer III and John S. Palmer. Marvin Palmer runs Palmer Brothers Inc., which was started by his father and uncle 100 years ago. corner of Dexter “Fortunately, we haven’t borrowed a Road, to the cen- lot of money over the years,” Palmer said. the one we’ve just finished. And so they brothers did business.” ter now known as the Cordova Collection, “That first generation went through the had some grim experiences from that Palmer joined the company in 1970 where Huey’s, El Porton and Fox Ridge Depression – the Great Depression, not time and it kind of shaped the way my after serving in the U.S. Navy. At that time, reside. the majority of the firm’s business was Palmer Brothers still owns and man- third-party management, appraisals and ages both centers, among others. The building small apartments and duplexes firm, made up of two brokers and two around north and south Midtown for staff personnel, doesn’t advertise, but AUCTION rental purposes. instead relies on signage and word of Deals Palmer Brothers was involved mouth. THURSDAY, FEBRUARY 9TH @ 10:00 AM with included the sale of the southeast “The clientele that we’ve had, we’ve 20,000± s.f. Warehouse | Industrial Land corner of Madison Avenue and Cooper had a long time,” Palmer said. “They know Street to the Loeb family and even man- us already and for the most part are com- I-269/385 Arlington TN aging Silky O’Sullivan’s, which used to fortable and satisfied with what they’re have space next to Paulette’s in Overton getting.” 385 1 Square. It’s a business model that’s been tried In the early 1990s, Palmer began to and true for 100 years, and one that’s move Palmer Brothers Inc. into the area “kind of helping out right now. of commercial development and manage- “It’s about as challenging as I’ve seen 385 2 ment, with a strong emphasis in retail and it in my 42 years right now,” Palmer con- small, unanchored strip centers. tinued. 20,000± S.F. INDUSTRIAL 21.5± ACRES IN “I had begun to concentrate on de- “We’re certainly in a deleveraging TWO LOTS WAREHOUSE veloping and managing and owning our stage of this industry. Most people are sort 3 3.2± Ac. Lot 1 500' Frontage on I-269/385 5.5± Acres own properties instead of managing other of in a maintain mode and not an expan- 1 Clear Span Building 500' Frontage on people’s property,” Palmer said. sionary mode.” 385 24' Ceiling Height I-269/385 3 Lot 2 Finished Office Space Cur. Appraisal $674,400.00 16± Acres 3 Large Overhead Doors 1000' Frontage on I-269/385 L L S H E R N A N D O H O R N L A K E O L I V E B R A N C H S O U T H A V E N W A L L S S E N A T O B I A C O L D W A T E R T Overhead Sprinkler System A U N W

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special edition: COMMERCIAL & INDUSTRIAL REAL ESTATE special edition: COMMERCIAL & INDUSTRIAL REAL ESTATE Highwoods’ Capital Improvements Sunbelt Focus Cohere Triad Centre Buildings For Mulitfamily SARAH BAKER | The Memphis News

ighwoods Properties Inc. Triad I in the fall of 2009 – including completed more than $1 mil- new elevators and lobby improvements Development Hlion in parking lot renovations – so the focus was strictly on Triad II, and building improvements at the East Guinn said. Memphis office complex Triad Centre The results include a completely re- SARAH BAKER | The Memphis News late last year, bringing its three develop- furbished front entrance, as well as new ments into a cohesive, campus-style flooring, ceiling, wall finishes, elevator environment. cab finishes and lighting. The three-month project was basi- Perhaps the most notable changes cally a parking lot renovation for both – at least for those crossing the Poplar Triad Centre I (6000 Poplar Ave.) and Avenue and Ridgeway Road/Shady Triad Centre II (6060 Poplar Ave.), while Grove intersection – can be seen in the also enhancing the entrance and lobby new signage. The old signs that once for Triad II. read “6000 Poplar” and “6060 Poplar” Steve Guinn, vice president of Ra- have been removed and replaced with leigh, N.C.-based Highwoods Proper- “Triad Centre.” ties, said since the real estate invest- Triad I and II’s occupancy levels are ment trust in 2009 built Triad Centre both about 90 percent, Guinn said. III (6070 Poplar Ave.) – the city’s first And Triad III – which has inked Leadership in Energy and Environmen- recent leases like Southern Sun Asset tal Design certified office building – it Management, Evolve Bank and Trust knew improvements were also going to and Courtview Capital Securities with be required for the complex’s front two several prospects lined up – is well on buildings. its way to approaching full occupancy “One of the things you don’t want as well. to do is build a new building and forget “I think this is one of the highest about the other buildings,” Guinn said. profile intersections in town, if not the Photo: Lance Murphey The firm finished renovations in highest profile,” Guinn said. Eric Bolton, CEO of MAA, addresses the Memphis Rotary Club at the University Club. Multifamily was the highest performing sector out of all of the commercial real estate sectors last year.

ince MAA pays out 95 percent of its “This region of the country is going earnings every year to its sharehold- to continue to attract employers,” Bolton Sers, CEO Eric Bolton spends a fair said, citing recent examples such as Toyo- amount of his time chasing money. ta’s opening in Tupelo, Miss.; Volkswagen Formerly Mid-America Apartment in Chattanooga; and the 2013 widening Communities, MAA is a self-administered, of the Panama Canal, which is expected self-managed apartment-only real estate to provide better access to manufacturing investment trust (REIT) based in Memphis opportunities at the ports of Houston and at 6584 Poplar Ave. New Orleans. “Frankly, this region is where The firm, which went public on the the majority of U.S. citizens live.” New York Stock Exchange in 1994, has Compared to coastal markets, the about $200 million in apartment value in Sunbelt region is also relatively easy for Memphis across eight communities, with developers and investors to come in and a local payroll of about $18 million for 235 build new apartments and homes, Bolton people. said. “Our performance as a REIT, some But the biggest barrier that the Sunbelt people don’t appreciate the uniqueness of region faces is the ability for developers to our model,” Bolton said late last month, in access financing. As the economy recov- his address to the Memphis Rotary Club. ers and jobs are created in coming years, “We’re a corporation just like any other, pent-up demand will unleash. except as a REIT, we don’t pay taxes. But Bolton said in order to keep up with we … have no retained earnings.” the increasing 20- to 35-year-old and Bolton said the typical apartment REIT 60- to 75-year-old population over the carries about 65 percent debt and 35 per- next 10 years, the country needs to build cent equity. MAA today carries about 40 about 300,000 apartments annually. Only percent debt to growth assets. It recently 90,000 apartments were constructed last was granted a $150 million loan with no year, and this year’s projections are about collateral but solely based on its 17-year 110,000. reputation as a public company. Since new multifamily construction MAA’s approach is also unique in that won’t reach that 300,000 level again until the company’s focus is to allocate capital 2014, Memphis will garner positive ab- exclusively in the Sunbelt region of the sorption until 2016, Bolton said. U.S., compared to the national shift to- “Memphis fits into what we define ward the West Coast, Bolton said. as secondary market,” he said, based on MAA owns or has ownership interest population and also the fact that no other in 48,813 apartment units throughout the apartment REITS are based here. “These Southeast, from the East Coast all the way markets tend to be very stable. There’s a to Phoenix and as far north as Fredericks- certain degree of stability in the way we burg, W.Va. The REIT employs about 1,300 think about how we deploy capital. Not across the Sunbelt region. going to shoot for the moon each time.” 16 February 4-10, 2012 www.thememphisnews.com

special edition: COMMERCIAL & INDUSTRIAL REAL ESTATE Mercer Ready to Steer Commercial Council

MICHAEL WADDELL | Special to The Memphis News

ohn Mercer didn’t take over as 2012 He joined Highwoods in March 2001 Mercer sees the majority of the local president of the Memphis Area As- and his focus has been in landlord project inventory of office space available in Jsociation of Realtors Commercial leasing for properties such as Nonconnah smaller increments of 1,500 square feet to Council until Jan. 1, but he spent last fall Corporate Center, Clark Tower, 5350 Poplar 4,500 square feet, but it’s unclear who will working hard planning several big MAAR and Oak Court Office building, as well as occupy those spaces next year. events for the year. Highwoods’ nearly 2.2-million-square-foot “Uncertain economic and political “We are having meetings and getting portfolio. Mercer has been honored by the conditions right now are keeping small- geared up for (2012),” said Mercer, director Pinnacle Awards as one of the top 25 com- business owners from expanding and of leasing for Raleigh, N.C.-based High- mercial brokers in Memphis for seven of absorbing some of that space,” he said. woods Properties Inc. “We are currently the past eight years. Ron Riley, MAAR Commercial Council’s lining up local and national speakers for When asked about anticipated chal- 2011 president, started the MAAR Com- the MAAR Commercial Council Property lenges for the local commercial real estate mercial Council Charity Golf Tournament Forecast Summit, which will take place industry this year, Mercer pointed to bank- this past May at Windyke Country Club, on Wednesday, Feb. 8, as well as for our ing as an area to watch. and Mercer plans to hold the success- annual Pinnacle Awards that will happen “It’s going to be an interesting year,” ful event again in May. He is also excited in April.” he said. “I expect lending and liquidity to about the council’s annual community A “passing of the gavel” was held at the be key concerns. For property that’s been project. In October the council worked MAAR Commercial Council’s board meet- bought in the past, loans will be coming with Urban Farms in Binghampton, and a ing in December. Mercer joined the board mercer due and they will have to be refinanced. 2012 site will be determined. in 2009 and served as its president-elect There’s also some new legislation in Con- Away from work, Mercer is the chair- this year. wire-rimmed glasses,” Mercer said. “So I gress that could impact banking negatively man for Visible Music College, which pro- Friends and business associates might tell people that he is ‘wire-rim Jim.’” next year.” vides Christian-based music degrees. The sometimes do a double-take when they Mercer, a native Memphian, has con- He classifies the local industrial sector school just completed a ribbon-cutting spot Mercer around town. He is often centrated on the sale and leasing of office as strong, with a lot of players and great ceremony last month at its new Downtown confused with his identical twin brother, and commercial properties in Nashville developers in town providing tenants with location, 200 Madison Ave. Jim, who also works in the local commer- and Memphis during his 19-year career, plenty of options. Mercer’s passions include his wife of cial real estate industry, specializing in including stints at Coldwell Banker, Wilkin- “On the office side, we really don’t have 27 years, Sally, and their two sons, as well industrial space at CB Richard Ellis. son & Snowden, Trammell Crow Co. and that many new big users coming to Mem- as his 1978 burgundy Datsun 280Z. The “I wear contact lenses, and he wears CB Richard Ellis. phis compared to an Electrolux on the model closely resembles a 1976 Datsun industrial side,” he said. “The number of 280Z he had while in college at Vanderbilt, large blocks of office space has dwindled where he met his wife. more since Boyle Investment Properties “One of my sons and I flew to Phoe- just leased its last space at 999 Shady Grove nix in August of ’08, bought the car and Road to Education Realty Trust. We’re up drove it back cross-country on what’s left to 60 percent occupancy at our Triad III of Route 66,” said Mercer. “We had a great building at Triad Centre on Poplar.” time, and my son still talks about it today.”

special edition: COMMERCIAL & INDUSTRIAL REAL ESTATE Trane Signs Lease on Tradeport Drive

SARAH BAKER | The Memphis News

rane U.S. Inc. has finalized its largest major distribution operation in the 15 Acres • Cleared; ready for 625,000-square-foot industrial market. construction Tlease in Southeast Memphis after Murchison said Trane is a great addi- the deal process initially began in January tion to Chickasaw Distribution Center, FOr sALe • Located in one of 2011. a master-planned industrial park near the fastest growing Trane, an affiliate of Dublin-based East Holmes Road and the Mississippi SE Corner – sub-markets in America Ingersoll-Rand, will occupy all of Chicka- state line. Current tenants in park include Polk Lane & Kirk Road saw Building E’s building at 5200 Trade- Newegg.com, Creative Co-Op, Kuehne & • Neighbors include: port Drive. The warehouse facility was Nagel, Priority Solutions, Flextronics, UPS Olive Branch, MS Williams Sonoma, originally developed for Hewlett-Packard. Supply Chain, PSS Medical, LinkEx, Xpedx, Hamilton Beach, Brad Murchison of CB Richard Ellis HD Supply, Herbalife and American Snuff Zoned for Office & General Electric, Memphis represented the landlord, which (owner/tenant). Industrial Use McKesson the Shelby County Assessor of Property “Chickasaw has been home for several lists as Atlanta-based Industrial HPM large distribution users over the years, Owners LLC. There was no tenant repre- such as Barnes & Noble, Flextronics, For More InForMatIon: sentation in the deal; it was a direct deal Hewlett-Packard, Kuehne & Nagel, HD Contact Mark Whitaker with Trane. Supply, etc.,” Murchison said. “The addi- (901) 766-1999 Ext. 5 Murchison said the residential and tion of Trane only cements the fact that [email protected] commercial heating, ventilation and air- Chickasaw Distribution Center is a Class A conditioning (HVAC) systems provider development and offers modern-day users 850 rIdge Lake BL vd, SuI te 220 MeM phIS, tn 38120 has a few small facilities around the area, the best amenities available to sophisti- Phone: 901.766.1999 • Fax: 901.766.0999 including one in Southaven, but this is the cated distribution operations.” www.thememphisnews.com February 4-10, 2012 17

special edition: COMMERCIAL & INDUSTRIAL REAL ESTATE iPad Becoming Essential Tool for CRE Brokers

MICHAEL WADDELL | Special to The Memphis News

Zalowitz listed apps like Keynote, More than a toy, iPad Numbers and Bloomberg as useful busi- gaining a foothold as ness tools when preparing for a meeting with a client. standard tool in CRE Zalowitz is also equipped with an inverter in his van, so he can plug in an e-printer made by Hewlett-Packard Co. ommercial real estate brokers and and have the ability to print out maps, their clients are warming up to contract forms and other information Cthe trend of using the iPad as an while mobile. everyday tool for conducting business. “I’m using the iPad mostly for infor- Since its debut this past March, the mation,” said Zalowitz, who primarily Photo: Lance Murphey iPad 2 – Apple Inc.’s ubiquitous tablet focuses on retail and office space. “For Realtor.com is one of the new generation of mobile applications that are being used by computer – is quickly gaining a foothold example, I can find appraisal information Realtors and homebuyers. Users can find home listings while driving around a city. as a standard tool for many in the indus- on Chandler Reports and then print it out try. for a client. I can search on the Web for ments signed directly from the iPad.” nesses and particularly in commercial “The mapping capabilities on the iPad anything and print if needed.” He also uses Penultimate, a handwrit- real estate, where the speed of gathering 2 are amazing,” said Frank Dyer, principal He explained that he saves time ing app that allows him to take notes, information and making well-informed, broker with Loeb Realty Group. “I’ve been because the iPad starts up instantly, while sketch and organize right on the iPad. He intelligent decisions can make or break a able to take business lists and construct a laptop takes several minutes. Zalowitz can also email notes or the entire note- deal,” said Shanks. “Providing, accessing, .kml files in Windows and Google Earth, also uses MyWi for mobile WiFi connec- book. He said it is very user-friendly and and analyzing information about a site or and literally drive into a town and have tion for as many as five devices wherever provides accurate penmanship with or trade area in more of a timely manner is the retailers that I’m interested in plotted his van travels. without a stylus. always going to make you more efficient on the map. That’s been a fantastic thing. “If a client has a smart TV with an “I definitely see the iPad and other and increase your chances of gaining And it’s nice to be able to receive docu- HDMI input, I can plug my small Apple tablets being the future of all busi- more business.” ments on the road.” TV into their system. And with MyWi and Dyer cited the ability to pull up either my iPad or iPhone, I can make color-coded maps breaking down an presentations on properties there,” says area’s commercial space into office, retail, Zalowitz, who is excited about the poten- industrial, etc. tial evolution of the iPad technology. 400 Union Avenue FOR Some other favorite apps for Dyer Owens Corning has developed a include PDF Expert, DropBox, SiteMap, 1/4-inch flexible plexiglass material that Office Building SALE LoopNet and CoStar. is anticipated for future use as a multi- “DropBox is a tremendous program. functional mobile implement that will It basically is ‘cloud storage,’ so you can be used as a smartphone and will also fit drop files, photos and documents into it into larger glass pieces in places like a car, Low Rise without taking up storage space on the night stand or kitchen to control features Office iPad,” he said. over computers, music, television, light- Building The files are then available at any time ing, alarm systems and more. to edit, access and manage. Any file saved Gary Shanks, broker with The Shop- to DropBox is also automatically saved to ping Center Group, recently started using 16,525 SF all the user’s computers, iPhone, iPad and the iPad for business purposes and he is Office Space the DropBox website. already implementing new useful appli- “At first my wife thought the iPad was cations on a regular basis. just a toy, but I was able to show her in The Shopping Center Group, which Downtown about 20 minutes how important it could specializes in retail space, recently be to my business, and it certainly has launched its own app in May. Memphis already served itself well in that respect,” “Our company app allows our brokers said Dyer, who began using the iPad in and clients to search all ‘for lease’ or ‘for March. sale’ properties listed by our company,” FEAtURES • Ample Parking: 40+/- Spaces He also sees commercial real estate Shanks said. “We currently have over 4 (30 fenced) companies and potential clients using the million square feet of commercial prop- • Low Rise Office Building • South Central Business QR (quick response) code reader func- erty listed out of our Memphis office. You (3 floors) tion of the iPad and iPhone for marketing can view, print or email all detailed infor- Improvement District (SCBID) Zoning • 16,525 SF OFFICE building on and advertising in industry publications mation on a specific property with ease. • Adjacent Lot On Monroe Providing 1.39 ACRES and at conventions. By scanning a matrix If we are out in the field, we can provide Convenient Access & Drive Through barcode with the mobile device, the user immediate information to a prospect with • Located in Downtown Memphis Capabilities is taken directly to a website for listings the click of a button.” and other information. Shanks uses Sitewise and BAO (Busi- Sam Zalowitz, broker and owner of ness Analyst Online) for key demographic Zalowitz Commercial Realty, is a self- and market facts about any location in Contact information Edward Saig, SIOR, CRE described “techie” who has been using an the U.S. The Geo Measure app provides One Commerce Square iPad for business for a little more than a him with simple measurements and Suite 1740 year. distances between sites when in the field Memphis TN 38103 “I’m completely portable, I have my doing site work for clients. The information contained herein has been given to us by the owner of the www.saigcompany.com property or other sources we deem reliable. We have no reason to doubt its tel 901 526 3100 ext 108 own office on four wheels,” he said. “And “DocuSign is an electronic signature accuracy, but we do not guarantee it. All information should be verified prior fax 901 526 3167 to purchase or lease. LogMeIn and the (Sage) Act lets me access service that helps me manage document [email protected] my office computer from anywhere in the needs from my iPad,” he said. “I can get world.” proposals, contracts and any other docu- 18 February 4-10, 2012 www.thememphisnews.com

special edition: COMMERCIAL & INDUSTRIAL REAL ESTATE Depot Business Park Heading in New Direction

DAVID ROYER | Special to The Memphis News

rom Army supply base to base of haven’t even kicked in operations, the new owners of the full gear yet.” FMemphis Depot Business Park hope Occupancy in the to position their revitalized 260-acre site Memphis Depot Busi- in South Memphis on real estate brokers’ ness Park was about radar screen as a solution for industrial 84 percent at the time needs. of the sale and now is “We just think it’s a really unique op- up to 85 percent after portunity to take a project that’s been suc- two existing tenants cessful to date and continue that vision of expanded operations. what it can be and, if possible, take it to a New directional new level,” said John Jenkins, partner with signs and maps at the Dallas-based Mayfield Properties. guard shack will help An affiliate of Mayfield Properties pur- trucks maneuver more chased the industrial park from the joint easily through the city-county Depot Redevelopment Corp. site, Kornegay said. in August for $35.8 million. The property Landscaping and fire comprises most of the developed portion sprinkler contracts are of the 642-acre former Defense Depot being consolidated Memphis off Airways Boulevard. to control costs and Now under private rather than public provide a consistent ownership, the revamped site can be landscape theme. actively marketed with commercial real Mayfield Properties estate brokers who might have overlooked is able to fund physi- it in the past. cal improvements for Photo: Lance Murphey “We have been pleasantly surprised at tenants, who had been The Memphis Depot Business Park was bought in August for $35.8 million. the activity we’ve seen to date,” said Brad required to pay for their Kornegay, president of Colliers Manage- own improvements, and the company is Corp. wasn’t able to do, Kornegay said. grown facilities. ment Services, which provides leasing and willing to subdivide spaces if necessary, Jenkins said his group is looking for Now, he was blown away when he took management from an onsite office. “We something the Depot Redevelopment ways to reach out to nearby schools and another look at the property earlier last neighborhoods, which declined as the year. area’s industrial base moved away. The revamped Memphis Depot Busi- The old Defense Depot Memphis ness Park offers 4.2 million square feet of was activated by the U.S. Army Corps of adaptable space with clearances of 14 to 25 Convenient Midtown Location Engineers in 1942 and supplied logistical feet, sitting a short drive from the airport support to the army and later other mili- and Interstate 240, with parking for trailers For sale below appraised value. tary branches until it was closed in 1997. and federal trade zone capabilities. Shelby County and Memphis partnered A police precinct sits at the entrance to with the Depot Redevelopment Corp. to the park, and the added security of a fence redevelop the site for distribution, service and a guard shack was a “game changer,” industries and light manufacturing. Kornegay said. Kornegay praised the improvements Wyatt Aiken, executive vice president initiated by the Depot Redevelopment with Cushman & Wakefield/Commercial Corp., which spent $25 million on capital Advisors, said commercial clients often are improvements to redevelop the old depot hesitant to locate inside the I-240 loop be- into an industrial park, replacing 26 roofs, cause of a perception of increased crime, cleaning or clearing run-down buildings preferring locations south or east of the and landscaping the grounds. airport. But the added security of a fence He said his initial impression of the site and guard, plus professional management when he toured it with city officials in 1998 at the site, could go a long way toward eas- was of dilapidated buildings and over- ing those concerns, he said.

Rates to fit your business Greystone Center Customers not beating a 3251 Poplar Avenue • 32,306 SF path to your door? • Flexible lease terms Contact Laura Taylor at 901.312.5772 or • Common conference room Trey Sowell at Find a new location. • New commercial telephone entry system 901.312.5785 Great retail spaces available throughout • New EPDM roof the metro area. • Located at the corner of Poplar & Holmes Rd • Convenient access to I-240, I-40, I-55 and I-385 Contact Michael Greenberg www.colliers.com/memphis at 901.507.3429 or Justin Lubin Multi-Family & Commercial Real Estate at 901.507.3428. For Sale or Lease. www.MRGMemphis.com www.thememphisnews.com February 4-10, 2012 19

special edition: COMMERCIAL & INDUSTRIAL REAL ESTATE ‘A Different Place’

SARAH BAKER | The Memphis News

n Memphis’ small commercial real mercial brokers, said Bud Worsham of estate network, it’s not uncommon for Crye-Leike Commercial. Ibrokers to be on opposite sides of the “It’s not that way when it comes to resi- negotiating table one hour then clinking dential,” he said. “They all butt heads.” beers in celebration the next. And it’s not just potential leads that are “I’ve spent time in Nashville and At- being shared, said Shawn Massey, partner lanta, I’ve talked to other people in Dallas with The Shopping Center Group LLC, and some other markets and it just doesn’t who uses social media to congratulate Photo: Lance Murphey seem to be the same,” said Jim Mercer, competitors on recent deals. Members mingle at the Certified Commercial Investment Member (CCIM) anual holiday industrial broker with CB Richard Ellis Recent Facebook posts by Massey party at Owen Brennans. Memphis. “They kind of look at us funny include, “Welcome to the neighborhood, and say, ‘I can’t believe how y’all operate.’ Pure Barre!” – linking to an article involv- guy that’s all about me, people learn that Not only are brokers keen on aiding Their markets are a lot different, brokers ing Colliers International and StoneCrest pretty quick. You won’t have those oppor- each other but also those in need. That’s hate each other, they hardly talk. We don’t Investments – and “Congratulations to tunities.” why 2011 MAAR Commercial Council have that in Memphis, it’s always great get- our friends at Investec” – alluding to the Rainer, a self-dubbed “retired SIOR” President Ron Riley installed the first an- ting together.” Memphis-based firm’s recent affiliation (Society of Industrial and Office Realtors) nual golf tournament for Make-A-Wish Despite the precious commodity of with Sperry Van Ness International. and a 26-year industry veteran, attributed this summer. time, brokers across all local CRE sec- The exchange of valuable statistics a large portion to his success to estab- Like seeing a deal through the finish tors seem to set aside plenty of time for is also commonplace in Memphis’ CRE lished brokers that helped him. line, it’s rewarding to see the fruits of one’s networking and cross-promotion. At the network, said Jim Rainer of Grubb & “We’ve got some older brokers that labor, Riley said. Certified Commercial Investment Member Ellis-Memphis and founding member of were such great mentors for a lot of people “The real genesis behind the tourna- holiday party in December outgoing presi- the Memphis Area Association of Realtors here,” Rainer said. “All of those guys were ment was is we have 330 members in the dent Tanis Hackmeyer said it boils down to Commercial Council. all SIORs and CCIMs and those sorts of Commercial Council,” Riley said. “We’re all friendly competition. “Market reports, comparables, sales or organizations. They promote their orga- very close-knit simply because it is a big “Say I’ve got a listing nearby,” Hack- leases to the extent that it’s not compro- nizations and were always willing to help city with a small-town feel. Part of that’s meyer said. “I’ll call the broker across the mising your client’s interest, we share that younger guys. Memphis is just a differ- a Southern mentality, too. We’re all very street and say, ‘I’ll pass my clients your information,” Rainer said. “It helps people ent place, I guess. Culturally, everybody’s cognizant and aware of what’s going on way, you pass yours mine.’” understand the market better, if you will. friendly and people are just willing to with people outside the general scope of It’s a concept that is unique to com- You create a network. If you’re the kind of help.” real estate.”

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special edition: commercial & industrial real estate Cos. Find Value in Distressed Properties

SARAH BAKER | The Memphis News

Cross Creek National players with Shopping Center at cash and resources see Winchester and River- value in Memphis dale roads sold last year for $12.7 million. n a local commercial real estate market where prices have plunged as I much as 40 percent from 2007 peaks, special service companies are taking advantage of opportunities for buying distressed debt. National players that have the cash and resources – such as CWCapital, RAM Realty Services and LRN Partners LLC – are currently active across various proper- ty types and portfolios. Special servicers work to recuperate and maximize the return for bondholders of distressed or non-performing commer- cial mortgage-backed securities loans, said Andrew Phillips, vice president of Colliers International. This can be done by way of a note sale – where an investor Photo: Ben Fant purchases the debt – or by traditional sale after a property has become real estate ply to salvage the integrity of a property’s and manage the property,” Phillips said. on behalf of an owner, in owned. value when the borrower has either de- Case in point is Miami-based LNR essence serving as a trustee between the “The goal of a special servicer is sim- faulted or is unable to financially operate Partners, a subsidiary of LNR Property two parties, said Danny Buring, partner LLC – the world’s largest commercial with The Shopping Center Group LLC. mortgage special servicer. “They’re not the owner, they’re not As of June 30, LNR Partners Inc. had the lender, and they’re not the group that 14,616 special servicing loans with a total got the loan that’s being foreclosed on, U.S. collateral amount of $192.3 million, obviously,” Buring said. “Like an attor- according to a mid-year 2011 report con- ney would act as a trustee, the attorney’s FICE SPAC ducted by the Mortgage Bankers Associa- name may be on closing documents F E tion. and it may have actually shown them as O WITH A GREAT VIEW OF Throughout 2011, LNR was involved an owner, but they’re really acting as a in a number of high-dollar Memphis real trustee.” estate transactions – both acquisitions Buring sold Cross Creek on behalf of and dispositions – all involving property it Michael Lightman in May 2005 for $57.5 BERMUDA acquired through foreclosure sales. million to Washington-based Premier Sales included Cross Creek Shopping Management. Center at Winchester and Riverdale roads In November, Commack, N.Y.-based for $12.7 million and Trinity Ridge Busi- Allied Development of Memphis LLC ness Center in Cordova for $7.6 million. bought Cross Creek for $12.7 million. The Purchases – again, all at foreclosure seller was JPMCC 2005-LDP2 Riverdale sales – included Waterford Place Apart- Retail LLC – an entity managed by LNR ments for $18.2 million; The Villas at Partners LLC that bought the property Cordova apartment complex for $14.2 for $12.3 million out of foreclosure in million; Bartlett Logistics Center for $15 October 2010. million; and Oakwood apartment com- From start to finish, LNR’s involve- plex in Germantown for $17.1 million. ment with Cross Creek was 13 months. Some local CRE players are familiar The goal is to be involved in an asset with the firm from its involvement in the on as short of a term as possible, both for foreclosure sales of Cordova’s Trinity Place themselves and their clients, Buring said. and the former Comcast Building at 6555 “They’re a fee-based company and Business links to pleasure at Highwoods’ Southwind Office Quince Road during 2009. they’re probably making the same fee, Center, with over 500,000 square feet of Class A space “Memphis has seen its fair share of whether it’s two years or two months, so in Memphis’ premier mixed-use development. Seven mid- properties that were purchased at the get in and out,” Buring said. rise buildings surround the TPC at Southwind, home to height of the real estate boom that have And unless there are some extenuat- the only PGA tournament in the Mid-South. been foreclosed,” said Phillips, who was ing circumstances, it’s uncommon to see involved in brokerage for the Trinity Ridge companies like LNR in a fire sale situa- For over 25 years, Highwoods has cultivated a reputation Business Center and Bartlett Logistics tion, Phillips said. for owning and maintaining desirable office buildings in Center. “Servicers would like to (sell) in the high-demand locations. To line up a tour, call (901) 683-2444. “This typically occurs when either shortest timeframe possible, but are not You’ll love the layout, inside and out. the operating income has deteriorated to necessarily driven to liquidate as soon the point where the monthly debt cannot as it hits their REO department,” Phillips be serviced or the original loans have said. matured and the borrower has been un- “Most of the time, it is best for them to

© 2011 Highwoods Properties able to refinance due to an overall loss in try and stabilize the income of the prop-

LEASING • ASSET MANAGEMENT • DEVELOPMENT • highwoods.com value.” erty and take the property to market in an Servicers like LNR act as a third party orderly fashion.” www.thememphisnews.com February 4-10, 2012 21

special edition: commercial & industrial real estate

field Properties LP purchased a majority of Memphis Depot Prolonged Recession Business Park near Memphis International Airport for $35.8 million. And in November, Willow Continues Impact Lake Business Park and Cor- porate Park – a mixed-use, 17-building portfolio in Hick- SARAH BAKER | The Memphis News ory Hill – sold for $26 million in foreclosure, as compared to $53 million in 2006. In its heyday, the park included n the words of Phil Woodard, an owner of Memphis. “But the Great Recession has tenants like International of multiple residential and commer- been notably different – long, deep and Paper Co., FedEx Corp., Ter- cial properties in Downtown Mem- very prolonged.” minix and Netflix. I Photo: Lance Murphey phis, breaking even is the new profit. Top concerns locally and nationally Across all property A building at 5865 Ridgeway Center Parkway in the Or as national real estate expert Jona- include slow job growth, refinancing, va- East Memphis business district was recently leased to sectors, 2011 proved to be than Miller said recently at the Urban Land cancy rates, deleveraging, tax policies and 100 percent capacity by Boyle Investment Co. a booming year for bank Institute’s Real Estate Outlook for the Mid- income and wages. sales, as evidenced by the South, “We cannot expect to make money “We had a full steam ahead of activity town Village Square for $14 million. This sale of Cross Creek Shopping Center at the way we did a few years ago.” throughout most of the year, but as we got transaction marked the first local purchase Winchester and Riverdale roads for $12.7 Attendees at ULI’s 2010 conference into the third quarter and the financial since the firm set up its Mid-South Capital million and Trinity Ridge Business Center learned about “an era of less.” Industry markets started going a little bit bonkers, Fund I LLC, which is targeting $125 million in Cordova for $7.6 million. experts projected the local and national most of our activity still remained, but to $130 million in real estate investment Meanwhile, on the local office front, market to turn around in 2011, albeit the everything pretty much just kind of slowed opportunities throughout the Mid-South experts predicted any growth in 2012 to industry would have to settle for baby down,” Brad Murchison of CB Richard Ellis over eight years with a focus on Memphis be in Boyle’s land near 999 S. Shady Grove steps. Memphis said recently. and Nashville. Road, where the firm leased its Ridgeway In 2011, the theme was dourer and to The year was kicked off with notable Furthermore, it shed new light on Belz, Center building up 100 percent in October the point: “facing a long grind.” A shrunk- deals that included Panattoni Land 3 LLC’s a longtime Memphis CRE firm that began with Education Realty Trust and NewSouth en industry, lower returns, crimped profits two sales at 4795 Imagination Drive for shedding assets at the end of 2010 with its Capital Management. and substantial losses mark the current a total of $19.2 million in January, and sale of Park Place Centre to Loeb Proper- When asked when new office construc- state of the market. Richard Stern, principal with Canadian ties Inc. and continued doing so during tion will occur, Cushman & Wakefield/ “Historically, post-World War II reces- investment group Olymbec, buying the 1.1 the first quarter of 2011 with its sales of Commercial Advisors LLC’s Kemp Con- sions have been short, with a robust million-square-foot Space Center at 3051- Eastgate Shopping Center and a center in rad said, “First of all, you really can’t buy comeback,” said Dr. John Gnuschke, 3133 Tranquility Drive for $7.3 million. Orlando, Fla. the land and build a building and make director of the Sparks Bureau of Business January was also a milestone for Boyle Other major deals that were years in money in A and B, that’s why you need and Economic Research and co-director of Investment Co., which bought a signifi- the making finally came to fruition in 2011. A-plus,” citing the office building at 999 S. the Center for Real Estate at the University cant stake in Belz Enterprises’ German- In August, an entity of Dallas-based May- Shady Grove as a prime example.

Industry Expertise. Global Resources. Local Vision.

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special edition: commercial & industrial real estate Loeb Tells Rotary About Overton Square Redevelopment Plans Bob Loeb talks 'labor of love' that has been redevelopment plans of entertainment district

SARAH BAKER | The Memphis News

mong the first of Bob Loeb’s com- Memphis – to ask his opinion for a new ments when he addressed the theme. AMemphis Rotary Club Jan. 10 was “He said it’s the theater district, what that when his firm finishes the redevelop- else do you need?” Loeb said. ment of Overton Square, the hope is to Loeb then hung up and called up pass the Rotarian Four-Way Test. Jackie Nichols, founder of Playhouse on For Rotary, the Four-Way Test is the the Square, and asked what to do to have a cornerstone of all action that asks the fol- better theater district. lowing questions: Is it the truth? Is it fair to “He said you have more theaters,” Loeb all concerned? Will it build goodwill and said with a laugh, before explaining that better friendships? And will it be beneficial black repertory theater company Hattiloo to all concerned? Theatre will have a capital campaign to re- “Our goal will be to pass the test when locate from Marshall Avenue to the south we finish this development,” said the side of Overton Square. president of Loeb Properties Inc. “It’s been Loeb shared his ideas for mixed-use a labor of love and we think that 2012 is go- concepts around the Square, such as ing to be a lot more exciting than 2011.” transforming existing space on the south Following a yearlong changing timeline side of Madison that’s currently 9 percent among Loeb, the city and neighborhood occupied into small, local boutiques and groups, Memphis City Council during its restaurants with residential above. last meeting of 2011 approved spending “Our plans are relatively modest,” Loeb $16 million to improve the once-thriving said. “We love taking old buildings and Midtown entertainment district. fixing them back up. National tenants have Loeb told the Rotary crowd that for his their prototype. We like the local flare.” firm – a longtime, family-owned Memphis He explained his intentions to capital- real estate firm that specializes in retail – ize on the recent addition of bike lanes on the Overton Square project is “not all that Madison around the Square, which will be big of a deal” on the private side of the the first planned development to conform equation. Loeb will shell out $19.2 million with requirements of the new Midtown to renovate the existing buildings around overlay, established to create more walk- Madison Avenue and build four new ones. able and bike-friendly neighborhoods. “One hundred thousand square feet is Other ideas include an ongoing study really not that big of a project for a rehab with the Memphis Area Transit Authority and to deliver that space back into the usu- regarding a possible shuttle that would al form,” Loeb said. “The difficult aspect is travel as far west as where the trolley dead- various parts of government.” ends at Cleveland Avenue and as far east as Loeb estimates the entire Overton Liberty Bowl Memorial Stadium, on South Square project will cost about $35 million. Hollywood Street south of Central Avenue. The city was asked to chip in $16 million “We really plan on connecting and for infrastructure, including a three-level, collaborating,” Loeb said. “Whether its 450-space parking garage with a water de- transportation, whether it’s events, to cre- tention facility underneath to alleviate rain ate a unique opportunity.” flooding throughout the Lick Creek basin. That’s why the company has brought In a conversationalist yet professional on new promotional director Anna Holtz- style, Loeb spelled out last year’s bumpy claw to distinguish the area with activi- road to the Rotary members – many of ties separate from Beale Street and the which are the city’s top executives, at- Cooper-Young neighborhood. Loeb even torneys, physicians, educators, CEOs and plans to team up with the Memphis Music government officials. Foundation and its team of 2,000 artists for He explained the many public meet- locations where they can “plug and play.” ings; scrolled through slides of blueprints, “We want to have a number of loca- sketches and renderings; and even shared tions where musicians don’t have to cart all conversations he had with other Memphis of their equipment around,” he said. “They movers and shakers along the way. need locations, we need talent, we want to One morning, when Loeb was stumped connect with them.” after plans fell through last fall with a Collaboration is what will set Overton high-scale grocer set to anchor the Square, Square apart, Loeb said. he called up friend and business partner “We don’t want to pretend that we’re Henry Turley – for many the pioneer of the only note of activity going on,” Loeb mixed-use development in Downtown said, “but how do we all work together?” www.thememphisnews.com February 4-10, 2012 23

special edition: commercial & industrial real estate Agents Moonlight to Cope With Slump

SARAH BAKER | The Memphis News

n tough times, many local real estate of a nationwide network that exclusively “The restaurant business is a melting since she had no family in the industry, agents seek secondary sources of focuses on restaurants and hotels. He pot of building a network,” he said. “You she had to start at ground zero building Iincome to compensate for the market’s co-brokers almost everything, splitting meet everybody you can think of.” her contacts. instability. commissions on deals as they arise. And it’s not just the commercial agents “It takes awhile to build a business J. Tucker Beck has been selling real His most prominent listing right now that are hurting. Lexi Johnson with Pru- and I got my license in a bad market,” said estate with Crye-Leike Commercial for 18 is the hotel site at 1837 Union Ave. that dential-Collins Maury Inc. Realtors works Johnson, who is also president of Mem- years. But when the market dried up in the formerly housed The Artisan Hotel and the full time selling houses and tutors on the phis Young Professionals Network. “I’m fall of 2007, he turned to an old fraternity Country Hearth Inn & Suites. Because the side for about 12 to 15 hours a week. doing well, I’m hanging in there, but it’s brother to help him line up a job at Huey’s. building is in need of major renovations, She got her real estate license about 18 not steady and I can count on the tutoring “2008 came out of the whole, ‘every- he’s hopeful his network will generate months ago after working as an assistant money. I’m kind of not ready to let go of it thing had closed and nothing was going interest. to a top producer within the company. But yet.” on’ and that’s what scared me,” Beck said. “I wasn’t born with a spoon in my hand, I’m going month to month on payments. If it wasn’t for the three girls that own Huey’s and all of the management, I would have lost my house.” Beck bartends and manages about 40 hours a week at the East Memphis Huey’s Todd Jo Michael Al Bobby Paul “Skip” John Danny on Poplar Avenue, 10 hours a week at the Dyson Farris Henry Hollingsworth Meeks Portis Curry Bozof original Midtown location, and devotes about 20 hours to commercial real estate. And it’s not uncommon to leave one job and start another. “The way real estate works is people call you looking for something, and if I can get in touch with them through phone, Lisa Linda Marv Lynn Herbert Lynda Charles Dan text or email, I can work on whatever they Meeks Wheeler Donnaud Alford Montgomery Savage Ricketts Kyle want me to that night and have it for them ready,” he said. “Last night, I left Poplar, went to Huey’s Collierville to meet a client, drove to Crye-Leike, prepped up a counter lease proposal that I emailed at 10 o’clock so they’d have it on their desk this morn- Darlene James Matt Donna Debbie Tonya Milton Fred ing. Today, I didn’t work at Huey’s and I Drogmiller McDonnell Lawrence Schmidt McNeal Bancroft Less Headley showed a bunch of real estate.” Beck just recently brokered the sale of Kudzu’s Bar & Grill in Downtown Mem- phis, and relocated Sylvan Learning Center of Memphis from an office to a retail space in Cordova. While having a firm retail background Marsha Kim Maynard Jan Silverstein Spiotta Clay & Wright Evensky Bounds is valuable – from understanding signage to demographics to traffic volumes – it’s great south ConstruCtion and bonds nice to have a buffer in a sour market. “Retail, when it’s going good, it’s a fun addison & assoCiates • Murphy & assoCiates thing to do,” he said. “But the bulk of my brokerage in the last three or four years insuranCe has been really, really bad.” Glen George auto • business • healthBut • Beck life is optimistic that the CRE Doane auto • business • health • life Edmiston market will see better days. In the mean- time, he has his alternative revenue stream 866 Ridgeway Loop, Suite 200 • Memphis, TNto 38120 fall back on. 866 Ridgeway Loop, Suite 200 • Memphis, TN 38120 Tony Westmoreland of Keller Williams Phone (901) 767-3600 • Toll-Free (800) 489-7668Realty Inc. also works full time in the Phone (901) 767-3600 • Toll-Free (800) 489-7668 www.clayandland.com restaurant business, as general manager of www.clayandland.com Bluefin Restaurant in Downtown Mem- Trey Elizabeth Louis Clay Hagna Clay phis. But unlike Beck, selling commercial real estate is his secondary source of income, not his primary. “I’m not a typical, I-need-to-sell-a- property real estate agent,” Westmoreland said. “My uncle’s been in the hotel broker-

age business for 25 years, and I’ve been in Mark A. Jeff Greg Joe Michael Andre Rodney Neal the restaurant business most of my life. Pinkston Michael Tate Smith Willins Ford Murphy McConnico I’ve helped other restaurant entrepreneurs with finding locations or doing a busi- ness plan for them and one day, I was like, ‘Well, I’m already doing this basically so I’ll get my license and I’ll help them through their lease.’” Jim Connie Cary Stan Shirley Dusty Alan Fred Westmoreland came on board with Allen Jones Murphy Addison Hudson Rhoads Doyle Tate Keller Williams in December. He’s part 24 February 4-10, 2012 www.thememphisnews.com

special edition: Commercial & industrial real estate Gulotta: Things ‘Falling Into Place for Millington’

SARAH BAKER | The Memphis News

f there’s one thing that’s going on Gulotta has served as executive range of buildings, the third-longest open records laws, its projects are “open right now in the area of economic de- director of the Memphis-Shelby County airport runway in Tennessee and more to public scrutiny from the press,” and I velopment in Memphis and through- Economic Development Board since than 2,000 acres of land – the majority of documentation can be requested from out Shelby County, it’s change. December 2007. which is along the main line of Canadian other competing communities. That’s the message Charles Gulotta, One of Gulotta’s new key responsibili- National Railway Co. Since there’s a huge executive director of the city-county Of- ties under his new title is the marketing In addition, the “learning curve” for new fice of Economic Development, delivered and sale of Veterans Parkway, which he development of Inter- director Reid Dulberger to the Memphis Certified Commercial In- repeatedly called an “incredible industrial state 269 that will serve and his board, Gulotta vestment Members Jan. 17 at the Holiday asset in Millington,” equipped with utility, Millington will add encouraged the CCIMs Inn University of Memphis, 3700 Central water and sewer lines and plumbing and value to the community, to get involved in the Ave. electricity capabilities. Gulotta said. Right now, new PILOT program and About two-thirds into Gulotta’s speech “For someone who works in economic there are no congestion to “keep your eyes open” touting Millington’s economic develop- development, when you drive along Vet- problems affecting Mil- to ensure any changes ment assets to the CCIMs, he announced erans Parkway, I mean, you almost have lington, and crime is not For someone who are business friendly. he’d be the Millington Economic Develop- to drool in anticipation of the possibilities an issue due to protec- works in economic Gulotta also touted ment Board’s new leader, effective Feb. 1. that exist there,” Gulotta said. tive zoning in place, he development, when the Foreign Trade Zone “As part of the ongoing economic In past years, what was once a U.S. said. you drive along program, a process es- Also working in Mill- tablished to help elimi- development process in Millington, com- Navy station in Millington has been af- Veterans Parkway, munity leaders have recently reorganized fected by Base Realignment and Closure ington’s favor are the tax nate or lessen tariffs for the local economic development pro- downsizing planning from the federal benefits, Gulotta said. I mean,“ you almost companies importing gram,” Gulotta said. “The Chamber of government. The base is now a support The tax rate is $1.43, have to drool in materials into the U.S. Commerce and Industrial Development center, known as Naval Support Activity compared to Memphis’ anticipation of the The U.S. Department Board – which were separated in the past, Mid-South. rate of $3.19. possibilities that of Commerce adminis- One result of that BRAC plan is that “Everything seems to ters the FTZ program, not the most efficient strategy – have exist there.” combined and are merging operations. many former military assets have been be falling into place for and Memphis and They’ve come forward and they’ve agreed handed over to the city of Millington and Millington to be the fo- – Charles Gulotta Shelby County admin- Executive director of the city-county to hire an experienced economic develop- to the Millington Industrial Development cal point for commercial Office of Economic Development isters it for the commu- ment professional with broad experience Board. and industrial develop- nity. In the near future, – me.” Some of these assets include a ment in the immedi- EDGE will assume those ate, immediate future,” responsibilities. Gulotta said. Since companies need to move Then there’s the fact the Millington quickly, Gulotta said, the FTZ board in Chamber of Commerce is a private entity, Washington has put together an Alterna- meaning it can handle projects in private tive Site Framework program. Memphis before turning them over to the Industrial and Shelby County have submitted an Development Board for incentives. application to be part of ASF, and the des- That’s different from the Economic ignation should be approved by March. COMPREHENSIVE ENGINEERING Development Growth Engine, the new “In recruiting companies like Mitsubi- AND ARCHITECTURAL FIRM industrial development board that will as- shi and Electrolux, they have told us that sume responsibility for the Memphis and they want to participate in the FTZ pro- Shelby County payment-in-lieu-of-taxes gram,” Gulotta said. “With this Alternative • Headquartered in Memphis providing Service and (PILOT) program. Site Framework in place, we can get both Since EDGE is a public entity and of those companies into the program at a Good Work for more than 65 years! is subject to all city, state and county very, very expedited process.” • Offices in North, Central, and South Mississippi.

• Employee-owned firm with creative, experienced, special edition: COMMERCIAL & INDUSTRIAL REAL ESTATE long-term staff. • Full discipline, in-house professional expertise. Kimberly-Clark Signs Southaven Lease • LEED Accredited Professionals, Sustainable Design.

• Strong Project Management. SARAH BAKER | The Memphis News

• High percentage of Repeat Clients. imberly-Clark Corp., a global man- Matthew Stauber with Colliers Inter- • Dedicated to providing Innovative Quality Design ufacturer of hygiene and personal national Chicago and Andy Cates with Services! Khealth products, has entered the Colliers International Memphis handled local industrial market in full force. the transaction for the tenant. Construction for tenant improve- Tim Moore, vice president of leasing ments is under way in Airways Distri- in Industrial Developments Interna- bution Center Building D, 228 Access tional’s Memphis office, represented the Facility Design l Civil Engineering l Surveying Drive in Southaven, where Dallas-based landlord, Teachers Insurance and Annuity Transportation l Natural / Water Resources Kimberly-Clark has leased 556,000 square Association – College Retirement Equities feet for its health care division. Fund (TIAA-CREF). www.pickeringfirm.com Kimberly-Clark brand name products IDI handles leasing and management include Kleenex, Scott, Huggies, Pull-Ups, for Airways Distribution Center, a master- 901.726.0810 Kotex and Depend. The corporation’s planned, Class-A business park built in 2010 sales were $19.7 billion. 2005 near Memphis International Airport. www.thememphisnews.com February 4-10, 2012 25

special edition: Commercial & industrial real estate special edition: COMMERCIAL & INDUSTRIAL REAL ESTATE ULI 2012 Outlook: Parkway Properties Sells Most Commercial Real Estate Of Local CRE Portfolio Industry Slightly Better SARAH BAKER | The Memphis News arkway Properties Inc. has sold The company announced in No- the majority of its Memphis vember it would sell the Renaissance SARAH BAKER | The Memphis News Pportfolio, totaling 672,247 square Center, and local experts expected the feet, to Hertz Acquisitions Group LLC. deal to close by 2011’s end. The news is part of Parkway’s con- Parkway did not directly men- tract to sell a portfolio of 15 non-core tion its remaining asset in Memphis in the workplace, Gnuschke said. In the assets spanning 1.9 million square – Morgan Keegan Tower – but did say Urban Land Institute’s last 10 years, the city has netted no new feet in Memphis, Jackson, Miss., and it had “one remaining asset located in industry outlook says jobs. Richmond, Va., for a gross sale price of Memphis totaling 337,000 square feet. Until Memphis sees an employment $147.5 million. … The remaining assets in Jackson and to expect a 'long grind’ increase, CRE fundamentals won’t im- Parkway Properties announced the Memphis will continue to be marketed prove much in the near future, said Cary disposition of Falls Building, Forum I, for sale.” he year will be slightly better for Whitehead of Boyle Investment Co., who II & III, and Toyota Center in the same James R. Heistand, who took over commercial real estate, but it’ll tackled the investment funds sector. Thursday, Jan. 5, statement that an- as president and CEO of Parkway T come at the cost of a shrunken Investors are looking at gateway cities, nounced the date of its fourth quarter Jan. 1, said in the release that part of industry. Whitehead said. After that, investors will 2011 earnings release and conference Parkway’s new strategy is to pursue That was the message an at-capacity begin looking at tertiary cities such as call. an efficient exit from certain non-core room of local real estate professionals Nashville and Birmingham, part of the Jackson, Miss.-based Parkway is markets. heard in December at the Urban Land In- reason Boyle established its Mid-South a real estate investment trust (REIT) “As a result of the thorough review stitute’s Real Estate Outlook for the Mid- Capital Fund I LLC in late 2010, targeting specializing in the ownership of office of all of our markets, we determined South, where attendees learned about up to $130 million over eight years. properties. that Jackson, Memphis and Richmond facing a “long grind,” compared with last “Today, we’re faced with a two-tier in- Prior to the sale, Parkway owned were non-core markets,” Heistand year’s theme, “an era of less.” vestment market – the A and B properties, 1.2 million square feet of office prop- said. “A portfolio sale of these assets “We cannot expect to make money there’s plenty of demand for it,” White- erty in the Memphis metropolitan allows us to quickly realign our overall the way we did a few years ago,” said head said. “Below B, there are essentially area, including the Renaissance Center, portfolio and focus our resources and guest speaker Jonathan Miller during his no purchasers.” Forum, Morgan Keegan Tower, Falls capital on building critical mass in our presentation of Emerging Trends in Real On the hotel front, “demand is in the Building and Toyota Center. remaining core markets.” Estate 2012. driver’s seat,” meaning room occupiers “Improvement will get better, but we can define what they’re going to pay for a think the next five to 10 years are going to hotel room, thanks to sites like Travelocity be a long grind.” and Expedia commoditizing the industry, That’s because there are various said McLean Wilson of Kemmons Wilson obstacles to overcome to see real estate Cos. Suite Deals. Sweet Spot. rebound as a whole, including global jobs Generating the best comeback is the Lease space in a landmark location. arbitrage, financial morass, productivity East Memphis submarket, since a hotel’s costs, personal and governmental debt success relies on a good mix of leisure loads and the construction slowdown. and business. For Memphis, success relies on tying Citing unsold inventories like the i-bank Tower into the global economy, Miller said, Chisca, French Quarter Inn and Clarion 5050 Poplar Avenue including linking to Europe and pathway hotels, “Memphis has a great market for Memphis, TN cities such as Chicago, Atlanta and Dallas. some of them, not all of them,” Wilson He said Memphis has great prospects to said. “It’s going to come down to who has • Central, convenient be an industrial hub of profound signifi- the money.” East Memphis location cance – with FedEx Corp. and railroad Meanwhile, the multifamily sector is pathways – but the big focus nationwide poised for the best year in the past de- • Competitive rates is on East Coast and Gulf Coast ports. cade, due to unemployment, kids staying Also working against Memphis’ favor at home longer and the crippled housing • 24/7 roving security is its unemployment level, which likely market, said Jason Wexler of Henry Turley won’t budge until after the 2012 elections, Co. • Underground parking said Dr. John Gnuschke, director of the “No one’s moving,” Wexler said. “That • Keyless access Sparks Bureau of Business and Economic makes for low turnover, low leasing costs Research and co-director of the Center for – low operational factors.” • Full-service bank, deli, Real Estate at the University of Memphis. Parts of those gains in operations are ATM, hair salon and “In good times, we know that un- linked to little or no new construction barber employment rates run here at 6 per- coming online. Next year will yield any- cent,” Gnuschke said, noting Nashville’s where from 400 to 500 new units in the unemployment rate currently stands at Memphis area. Contact at about 7.8 percent. “They don’t run 3 or 4 Building on the topic of financing, Laura Taylor 901.312.5772 or percent. Now they’re at 10 percent.” Kemp Conrad of Cushman & Wakefield/ at The most important thing happening Commercial Advisors LLC and a Mem- Trey Sowell 901.312.5785. in Memphis right now, Gnuschke said, phis City Council member, said Memphis is low gas prices. This is a “pay raise” for is entering 2012 with a $40 million hole every family in the community because it because of changes that were not made stimulates the market like no other single this past year. factor can. “Regardless if you’re Republican or “We desperately need to keep gas Democrat, black or white, rich or poor, prices low,” Gnuschke said. “We’re less government does not live by the same dense and more spread out than we need rules as everyone else,” Conrad said. “You Office Space to be, but that’s our growth pattern and can look at the city of Detroit and see for Lease it’ll continue to happen.” what happens when expenses get out of www.colliers.com/memphis Memphis has about 500,000 workers control.” 26 February 4-10, 2012 www.thememphisnews.com

SPORTS TICKER: The 2011 Super Bowl between the Green Bay Packers and Pittsburgh Steelers was viewed by 111 million people. Sunday's game is a rematch from 2008 when the New York Giants beat the New England Patriots. sports

GRIZZLIES

THE PRESS BOX DON WADE Tony Being Tony at Center Looking For A Few Hits On Of Grizz Roller Coaster Signing Day very coach wins National Signing Day. Every year. It’s how the game Ebefore the games is played. So congratulations are in order for first-year University of Memphis football coach Justin Fuente. On Feb. 1, 2012, he talked about his first class of recruits and if the Tigers can score a touchdown for every time Fuente said he was “excited,” then the scoreboard at Liberty Bowl Memorial Stadium should explode by mid- September. This, by the way, is not a jab at Fuente. Coaches do what they have to do, and that includes moving optimism down the field on signing day. Whether you’re a top-tier program such as Texas, which Scout.com says has the best recruiting class, or mori- bund Memphis, which Scout.com says has the 84th-ranked recruiting class, this is where it all begins. Fuente and his staff had just seven weeks to recruit, which is sort of starting on your own 7-yard line. “I think we did a great job (under the circumstances),” Fuente said. “But the proof will be in the years to come.” Ah, proof. A word not often spoken on signing day. Between the Tigers’ 20 signings on Feb. 1 and their seven mid-year signees, 27 new players are coming in. The highest-rated of the Feb. 1 signings is Mel- rose quarterback Will Gross, ranked the 36th-best QB prospect by Scout.com. The guy who was No. 37 signed with Alabama; that’s a victory in itself. Naturally, Fuente is “excited” about Gross, saying he’s more than just an ath- lete: “He can throw the football.” Always a good quality in a quarterback, but who knows what he becomes? Fuente doesn’t and that’s why he’s also “excited” about Photo: Lance Murphey other quarterbacks – Texas Tech transfer Jacob Karam and Paxton Lynch, a 6-5, It's not the offense of Tony Allen that has his Memphis Grizzlies teammates and fans appreciative of his efforts. It's his defensive intensity that proves vital for the team's success. 225-pound freshman from Deltona, Fla. The two players most physically ready

to play right away, Fuente says, are safety DON WADE | Special to The Memphis News Anthony Watson, a junior college transfer, and tailback Jai Steib, also a juco transfer. Steib was the first player Fuente watched Of course, earlier in that game, when the Grizzlies were on film. “I’m really fired up about him,” the Grizzlies' Grit & Grind sputtering, Allen was in the middle of that, too. He missed coach said. Superhero, Tony Allen, remains the rim on layups; he lost the ball entirely, inexplicably, on And “fired up” is at least three degrees fastbreaks. above “excited.” at the heart of the team's play Tony being Tony. So there is hope – there’s always hope It was even true of his tweet after that win, his energy on signing day – and there is reality: Every this season feeding the team’s collective will as they stopped a four- program in the country will miss on some game losing streak: “Hungry than a hostage!!” guys. But for Fuente and the rebuilding Tony Allen is the middle of everything. No one, it seems, is hungrier than Tony Allen. Tigers, the recruiting equation works the If the Grizzlies are making a frantic comeback, “One of the top five (defensive players) in the league,” other way. They just need a few hits. Tlike they did recently at home to beat the Denver said Denver coach George Karl. Nuggets in overtime, Allen is in the highlight reel block- “He’s so good, you have to try and keep the ball away Don Wade is a former sports reporter ing the shot of Denver forward Al Harrington as he barrels from him. He’s a major motor, gives them their strut, their for The Commercial Appeal. His column down the lane toward the rim, the potential game-winning toughness.” appears weekly in The Memphis News. basket in hand, Allen flying out of nowhere like some sort of All things that don’t necessarily show up in the stat sheet Grit & Grind Superhero. (though he is among the league leaders in steals), but that www.thememphisnews.com February 4-10, 2012 27

sports Want NBA Tickets? It'll Cost You are clear enough to the trained eye. “It’s all about preparation for me,” catalyst). A lot of guys can’t do that night The average NBA ticket “The sum exceeds its parts,” said Allen said, gesturing toward the rest of the in, night out. That might be the one fair price rose $48.48, or 1.7 Grizzlies general manager Chris Wallace, locker room. “I’m judged differently than way to compare him and Bruce; Bruce percent, for the 2011-2012 who used a first-round pick on Allen with a lot of these guys.” relished the role.” season. Grizzlies ticket prices the Boston Celtics and signed him for Defensive stopper. In two words, that’s Allen, 30, and in his eighth NBA sea- were the cheapest in the the Grizzlies as a free agent before last his resume. That’s the mission. son, says he still thinks about a sign he league, and their average season. “He’ll miss a layup, get carried Last season, he was named NBA saw each day in the Celtics’ weight room. price dropped 1 percent. away on a fastbreak, but he’s in motion all All-Defensive Second Team. It was both He doesn’t recall the exact words, but the Here are the most and least the time. He gets more good results than honor and slight. Kobe Bryant made first message was plain: Regret hurts more expensive average prices this negative.” team. than physical pain. season: Allen, by the way, would like his say “I laughed at that, kind of surprised “We got a short window in my occu- on the missed layups, which happen, oh, me I didn’t make it,” Allen said. “But it pation,” he said. TEAM PRICE nearly every game. just added fuel to the fire. The better I am So he plays hard. Or as teammate “You gotta consider, if I miss a layup, defensively, the better it is for my team.” Quincy Pondexter said: “He tweets exactly New York Knicks $117.47 I’m sticking with their best player,” he Grizzlies coach Lionel Hollins com- the way he plays – high energy.” said, “using all my energy. If I miss a pares Allen to former Grizz player and fan Allen’s Twitter account, @aa000G9, L.A. Lakers $99.25 layup, there’s still a lot of minutes left. For favorite Shane Battier, but only to a point. is locally famous. Typical tweet, this one Boston Celtics $68.55 the most part, I’ll help you more than I Both were excellent at reading offensive from Detroit: “…Random, I got on the bus hurt you.” sets. “But Shane was never the defensive 2day b4 the game!! I smelt like 5 different Chicago Bulls $68.37 Before the Grizzlies were to play the player Tony is physically,” Hollins said. colognes 2day!! Had the bus smelling like Miami Heat $67.00 Sacramento Kings, Allen knew he would Memphis fans appreciate Tony Allen Macys.” have the assignment of shadowing former in a whole different way than they did Then there was the time he called out Indiana Pacers $30.59 University of Memphis Tiger Tyreke Battier. Jeb Hart, 24, sporting a T-shirt point guard Mike Conley on Twitter for N.O. Hornets $30.49 Evans. bearing Allen’s likeness and “TA9” at a listening to Michael Jackson in the locker So Allen was studying film of every recent game, offers this PG-13 explana- room. Charlotte Bobcats $29.27 move in Evans’ arsenal and how it fit tion for why he loves Allen: “He plays “So I called him out on Twitter for lis- Wash. Wizards $23.64 within the larger scheme of the Kings’ every game like it’s the high school state tening to Prince,” Conley said, laughing. offense. championship and he’s trying to get laid More seriously, “Tony’s one of the few Memphis Grizzlies $22.95 While he studied, several of his team- after the game.” guys who can change a game defensively,” League Average $48.48 mates were laughing and chatting about San Antonio coach Gregg Popovich, said Conley. “And he has a short memory. things other than basketball. Which is who for years coached Bruce Bowen – All He throws the bad plays out the window Source: Team Marketing perfectly normal, but not if you’re Tony Defensive First Team five times – said and goes back to being aggressive again.” Report LLC, Jan. 31, 2012 Allen. of Allen, “He loves the role (of defensive Back to Tony being Tony. 28 February 4-10, 2012 www.thememphisnews.com

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government Wharton Hits on Top Priorities in Q&A

ANDY MEEK | The Memphis News

emphis Mayor A C Wharton Jr. the growth plan agreed to by all the munic- resources include an $80 million sewer city’s revamped economic development gave representatives of the city’s ipalities within the county. And Wharton project and other basic services like fire toolkit as well as the importance of local Mbusiness community a glimpse explained why that doesn’t sit well with protection. and minority contractors participating in into his mind Tuesday, Jan. 31, as well as him. “This is a continued all-out assault on projects. some background on his priorities within “It’s as old as the Constitution,” Whar- Memphis and its right to govern itself,” the As a testament to the need of the city the context of his 100-day plan for the city. ton said of the city’s power to expand its joint statement read. and county to create the new Economic In the format of a relaxed question- territorial lines. “Cities have to remain Only a few hours after his remarks Development Growth Engine (EDGE) and-answer session moderated by viable, and in order to do that they have Tuesday, a special-called City Council board, Wharton recounted a meeting he BlueCross BlueShield of Tennessee Vice to expand. It’s a tool in Tennessee law that committee meeting was set to discuss an had not long ago with a site location agent President Calvin Anderson, the mayor adds some predictability to how cities can ordinance that would apparently fast-track over breakfast. expounded on annexation, the economy, expand. an annexation of the Gray’s Creek area of He had a client out of California look- jobs training, business recruitment and “We haven’t been in a rush to expand. Cordova. ing at this area, and Wharton said the site more. We didn’t have to.” Meanwhile, Wharton went on to say selector had sent the client a proposal that The event at the Memphis Cook Until now, apparently. he plans to introduce in the next 100 days included $25,000 in attorneys’ fees. Convention Center was the latest in the The previous day, Wharton released a a “tightly organized” effort to get people When the client asked that proposal Greater Memphis Chamber’s “Conversa- joint statement with Memphis City Coun- back on company payrolls and into the to be whittled down, the site selector tion With …” series. cil chairman Bill Morrison blasting mul- mainstream of society. sent back another proposal. But that one The first question dealt with annexa- tiple proposals pending in Nashville that It’s a broad effort to bring more wealth centered on Mississippi and included no tion – ordinarily a dry topic, but one that would “stifle Memphis’ ability to grow.” and self-sustaining workers into the attorney fees. came only days after the filing of bills in In that statement, and in his remarks bloodstream of the city. “You don’t even need a lawyer to get in Nashville by state legislators that would to the Chamber audience, Wharton And the mayor said it involves giving there!” Wharton said, referring to Missis- limit Memphis’ future annexation pos- explained that the city already has begun people the tools they need to “get out there sippi. “The point is it was too cumbersome sibilities. investing resources in some of the areas and make it on their own.” to get into Memphis and Shelby County, More specifically, those bills reverse targeted by the state proposals. Those Other topics discussed Tuesday: the and we’ve done something about that.”

INKED

The company expects its Memphis Elite Electric Relocates plant, which will create more than 1,200 jobs, to be fully operational in 2014. It will manufacture built-in and specialty cook- SARAH BAKER | The Memphis News premier area of Fayette County, which ing appliances and is expected to turn out is Hickory Withe. This was just a great more than 700,000 ovens a year. opportunity to buy into a growth corridor in our region, and this area of Fayette In other CRE news, Osaka Japanese A local electrical designer is relocating County is just doing nothing but going up Cuisine has filed an $800,000 building its operations from Collierville to Hickory in developments.” permit application with the city-county Withe. Office of Construction Code Enforcement Elite Electric & Lighting Inc. has In other deals, Electrolux Home for “interior alterations for restaurant” in purchased 5,000 square feet of the former Products Inc. has renewed its 14,000- Poplar Plaza, 3402 Poplar Ave., according John Deere Landscapes facility at 2875 square-foot lease at One Commerce to The Daily News Online, www.mem- DO YOU NEED A U.S. 64 from K&L Highway 64 Invest- Square, 40 S. Main St., for 10 months. phisdailynews.com. BUSINESS LOAN? ments LLC for $425,000. The Swedish appliance maker origi- The restaurant will occupy about Elite Electric & Lighting provides nally signed the lease in the Downtown 7,300 square feet of the 18,000-square- DO YOU HAVE LESS automation and lighting services, as well landmark tower in March to occupy the foot space vacated by Bookstar. The bal- as residential and commercial electric building’s entire 24th floor as a startup of- ance of the space will be filled by Gould’s THAN PERFECT solutions. fice before it builds a new manufacturing Day Spa and Momentum Rehab, which CREDIT? Eric Fuhrman, president of Crye-Leike plant at Frank C. Pidgeon Industrial Park. are relocating from within the center. Commercial Inc., represented the buyer. Bentley Pembroke and Phil Dagastino, Rick Smith, director of property We offer business loans for your Jeff Jenkins with Renaissance Realty rep- vice presidents with Cushman & Wake- management for Burlington, Mass.-based business and we accept credit resented the seller. field/Commercial Advisors Asset Services Finard Properties LLC, represented the scores as low as 520 with Fuhrman said the transaction was LLC, represented the landlord, One Com- landlord. unique because the building sat on 11 merce Square Partners LLC. “We liked the concept and use NO COLLATERAL! acres, a much bigger tract than Elite Elec- “We picked (One Commerce of Osaka – a very upscale, nice tric needed. Square) because of the soaring restaurant – having that up front Requirements Include: “We worked with Jeff Jenkins with river views, adjoining parking, right along Poplar Avenue,” 6 month bank statements Renaissance to subdivide the building the vibrancy of Downtown near Smith told The Daily News in Articles of Incorporation out, so now it sits on its own 2-acre parcel, our new project, and a nimble September. 520+ Fico Score which met a big need, and it was just and accommodating leas- The landlord is providing a a win-win for both parties,” Fuhrman ing and ownership team that tenant improvement allow- No Credit Card Processing said. “The seller was able to sell off a very made this deal an easy one,” ance and the tenant is re- Required! usable portion to Elite Electric, and then Electrolux project director sponsible for construc- their remainder is a very usable commer- and controller Jacob Bur- tion, Smith said. (901) 308-8533 cial development site in what is really a roughs said in March. www.thememphisnews.com February 4-10, 2012 29

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real estate & development C-III Capital Acquires NAI Global Parent Company

SARAH BAKER | The Memphis News President and CEO Jeffrey Finn said in a we’re very pleased with this acquisition.” property management, project/facili- statement that the buyout would allow C-III’s range of activities includes ties management and valuation services NAI Global to tap into C-III’s “extensive primary and special loan servicing, loan worldwide. resources and expertise.” origination, fund management, collater- It’s not the first deal in recent weeks he parent company of Memphis- NAI Saig Co., 40 S. Main St., is the alized debt obligations (CDO) manage- involving local CRE firms tapping into based NAI Saig Co. has been Memphis and Mid-South representative ment, principal investment, title services national resources. Tacquired by an Irving, Texas- of NAI Global. It has seven brokers and and multifamily property management. In December, Memphis-based based real estate investment and special three support staff personnel. The Texas-based company has additional Investec Realty Services became an loan servicing firm for an undisclosed For the Memphis office – in operation offices in Nashville; Dallas; Chicago; New independently owned and operated fran- amount. since 1963 – the acquisition means more York; Greenville, S.C.; and McLean, Va. chise of Irvine, Calif.-based Sperry Van NAI Global, the largest network of in- opportunities to grow the company’s NAI Global will continue to operate Ness International, a franchisor provid- dependent commercial real estate firms local market presence and client services, as a separate company under its current ing training, systems management and worldwide, announced Friday, Jan. 27, said Edward Saig, company president. management. Under C-III, NAI Global marketing support for a network of CRE that its previously reported acquisition “This group that acquired NAI Global will explore business development op- brokerage firms. by C-III Capital Partners LLC has been is a major company that really has a lot of portunities in “strategic locations” such The 11-person firm now operates as completed. connections and resources worldwide, so as New York, London, Singapore and Sperry Van Ness/Investec Realty Ser- Princeton, N.J.-based NAI Global has this relationship is going to expand our “other primary global business centers.” vices at 51 Germantown Court. Principal more than 350 offices in 55 countries, ability through that purchasing group,” It said it will also invest in the growth broker Anthony Lopes said so far, buying with commercial space under manage- he said. “They’ve been in the business a of the corporate solutions and capital into Sperry Van Ness’ national network is ment topping 300 million square feet. long time in the real estate industry, and markets offering, expanding asset/ working in Investec’s favor.

3390 u.s. 61 land St. for $1.3 million, one week memphis, tn 38109 after related entity DCTN3 330 High- Sale Amount: $1.1 million REAL ESTATE RECAP way 61 Memphis TN LLC bought a Family Dollar site at 3390 U.S. 61 Sale Date: Jan. 13, 2012 (South Third Street) from Market- Buyer: DCTN3 330 Highway 61 place Development for $1.1 million. STCC Takes Next Step Memphis TN LLC (See above for details.). Marketplace Seller: Marketplace Development Development LLC sold the build- LLC ing, which is leased to Family Dollar In Nursing Bldg. Plans Loan Amount: $800,200 Stores of Tennessee Inc. Loan Date: Jan. 12, 2012 In conjunction with the pur- KATE SIMONE | The Memphis News Maturity Date: n/a chase, DCTN3 328 Highland filed a Lender: Bank of the Ozarks $940,900 trust deed through Bank of Details: Texas-based DCTN3 330 the Ozarks. Union Ave Marshall Ave Highway 61 Memphis TN LLC has Built in 2011, the 8,505-square- Union Ave bought retail property at 3390 U.S. 61 foot Class B building is on 0.6 acres (also known as South Third Street) at the northeast corner of South for $1.1 million. Marketplace Devel- Highland Street and Spottswood Av- opment LLC sold the building, which enue. The Shelby County Assessor of is leased to Family Dollar Stores of Property’s 2011 appraisal is $417,600. Tennessee Inc. Marketplace Development In conjunction with the pur- bought the property in October 2010

Southwest Tennessee Myrtle St chase, DCTN3 330 Highway 61 filed from Circle K Stores Inc. At the time, Community College an $800,200 trust deed through Bank a 1,012-square-foot vacant Circle K nursing building of the Ozarks. store was on the fenced-in lot. Built in 2011, the 8,320-square- A build-to-suit Family Dollar store Beale St foot Class B building is on 0.9 acres was planned for the site when Mar- on the east side of U.S. 61 north of ketplace bought it. 693 UNION AVE. • MEMPHIS, TN 38103 East Mitchell Road in the Third and Mitchell Commercial Subdivision. 1201 getwell road 693 Union ave. The Shelby County Assessor of memphis, tn 38111 Memphis, tn 38103 Property’s 2011 appraisal is $118,500. loan Amount: $2.9 million permit cost: $14.6 million 656 s. highland st. Loan Date: Jan. 19, 2012 Project Cost: $18.2 million memphis, tn 38111 Maturity Date: n/a Permit Date: Applied January 2012 Sale Amount: $1.3 million Borrower: 1201 Get Well LLC Owner: Tennessee Board of Regents Lender: TD Bank NA Tenant: Tennessee Board of Regents Sale Date: Jan. 20, 2012 Details: 1201 Get Well LLC has filed Architect: Fleming/Associates/Architects PC Buyer: DCTN3 328 Highland a $2.9 million trust deed through TD Contractor: W.G. Yates & Sons Construction Co. Memphis TN LLC Bank NA for a Walgreens building at Details: Work is moving forward on Southwest Tennessee Community College’s Seller: Marketplace Development 1201 Getwell Road. long-planned Nursing, Natural Sciences, Biotechnology Building at its Union Avenue LLC 1201 Getwell LLC bought the site campus Downtown. Loan Amount: $940,900 in October for $4.9 million. Sale doc- A $14.6 permit application has been filed with the city-county Office of Construc- Loan Date: Jan. 20, 2012 uments filed at the time list a New tion Code Enforcement for the three-story building, which will include two mechani- Maturity Date: n/a Jersey address for the limited liability cal penthouses. W.G. Yates & Sons Construction Co. is the general contractor. Lender: Bank of the Ozarks company. The building is leased to The building, which was designed by Fleming/Associates/Architects PC, is slated Details: Texas-based DCTN3 328 Walgreen Co., and tax bills are being to have about 61,000 square feet with two wings: one for nursing and one for natural Highland Memphis TN LLC has sent to the company’s Deerfield, Ill., sciences and biotechnology. bought retail property at 656 S. High- headquarters. 30 February 4-10, 2012 www.thememphisnews.com

Learn Success SMALL BUSINESS SPOTLIGHT By Responding To Failure St. Blues Finds Success

There is a place of business I enjoy ANDY MEEK | The Memphis News visiting on my trips to another city. It is always well-stocked with interesting items, the employees are knowledgeable and friendly and the prices are reasonable. All front page story in The New York in all, it looks as if they have come up with a Times last month did a deep dive pretty good formula for business success. Ainto the manufacturing cycle On a recent visit, I drove a little faster of Apple’s ubiquitous iPhones, walk- ing through in detail why the company than normal because I wanted to get to the makes its signature product overseas in business before they closed for the day. a way that can’t be done here. The good At one point, the article cites a news – I made meeting that included President Barack it in plenty of Obama and late Apple CEO Steve Jobs. time to leisurely Obama asked Jobs what could be done browse around. to move that work back to the States, The bad news and Apple’s famously mercurial chief – when I pulled executive brushed him off. up in front of chris cRouch “Those jobs aren’t coming back,” the store, it SMART STUFF Jobs said. 4 WORK looked dark, Photo: Lance Murphey The article has been driving much empty and Lead tech Greg Mitchell mills the frets on the neck for a cigar box guitar at St. discussion nationally since its publica- Blues Guitar Workshop, 645 Marshall Ave. abandoned. There was no sign that said, tion, particularly over the future of U.S. “We have moved.” There was absolutely no manufacturing. tional line and started building guitars who actually order their guitars and indication of what happened or what was Meanwhile, in an unassuming solely in Memphis. come here to pick them up and take going on with the business. Everything and warehouse with an attached storefront It also renovated the front of the them back to Europe so they can say everybody was gone. When I checked with near Downtown Memphis, St. Blues building, which includes a small gift they bought their guitar here in Mem- a few locals, they told me that after many Guitar Workshop owner Bryan Eagle shop component and displays of items phis. years the store had gone out of business. takes pride in the cachet of the music like cigar-box guitars and washboards “If we were in Cincinnati or Akron, Over the next few days I was conscious products his company manufactures in and knickknacks like harmonicas and Ohio – nothing against those towns – it of the fact that our environment is littered the birthplace of rock ‘n’ roll. vials of dirt from Mississippi’s famed wouldn’t have the same appeal.” with empty storefronts. It is easy to pass Not only that: Eagle points to Crossroads – where, the story goes, Thus, one of the things St. Blues also these abandoned businesses and not think musical instruments as one of the few bluesman Robert Johnson supposedly will be doing this year is focusing on the much about them. products still made in the U.S. that sold his soul in exchange for the ability online market and working to get more However, if you do take the time to think carry a premium over products made to play guitar. visibility in Memphis, both of which of them, you realize each one is probably elsewhere. On a recent afternoon, the front of will help build and increase brand evidence of a sad story – the failure of a And he confidently asserts that his the St. Blues space was bustling with recognition. dream. At some point in time, the same small company’s specialty guitars – it visitors eyeing the stands of electric St. Blues currently employs a little storefront represented a joyful story. For only produces 16 to 24 a month, with guitars, while others perused the gifts fewer than 10 people. Visitors can see someone, the business represented the prices that start at $2,500 – carry a pre- for sale to the sound of finger-picking some of the guitar work being done beginning of a new dream. I believe one mium of 10 to 20 percent over a guitar roots music coming from a trio holding behind a front counter, and a down- of the causes of this dream reversal is the that’s simply “made in the U.S.” an impromptu jam session with the stairs warehouse is where other work fact that some business owners are not “So on every headstock, on every- cigar-box guitars they picked up. takes place. as skilled as they need to be in the art of thing we do, in our logo – everywhere, Eagle said the shop is looking at Downstairs is also where there responding to failure. really – we say Memphis, Memphis, some new hires in the near future, one are stacks of high-quality cigar boxes, One way to define most small business- Memphis,” Eagle said. “You’ve got to of which will be a marketing position which get turned into the folk instru- es is to refer to them as failure-processing stress that.” to help get the word out about the St. ment that’s becoming increasingly entities. No one builds a business without Eagle’s shop intends to continue Blues brand – which, ironically, is more popular. failing and adjusting over and over. You stressing that – in multiple ways. widely known overseas in places like Eagle said the plan for the guitar often learn to do things right by doing them It didn’t used to be open to the Holland and France than it is here. maker is to stay small, with a high- wrong. And this brings up something inter- public, as it is now. It also had an “What we’re trying to do right now, I quality product that has some serious esting that you should know about the art international product line. Starting last guess, is two things,” Eagle said. “Obvi- cachet. of processing and responding to failure. February or so, St. Blues – the origi- ously, we’d like to tie into the million “We’re a boutique builder,” he said. There are two big issues you need to nal guitar model of which is the sleek people a year who come to Memphis “We’re not going to make thousands of focus on when it comes to failure – quitting Bluesmaster – shut down its interna- for music tourism. We also have people guitars a month.” too soon and not stopping soon enough. I bring this up because I believe most businesspeople are pretty good at the “not quitting too soon” option. This trait gets hammered into most of us during our for- mal and informal education. During tough Magna Bank goes times, people love to remind you of Winston Churchill’s quote, “Never, never, never, beyond perceived never give up.” I agree there is a time and a “customer service. place for a never-give-up attitude. However, here’s my counter-quote for you, “Never, never, never, never keep doing something that is clearly not working.” — Robert Creech, President Don’t be the Charlie Brown of the business ” world. Don’t keep trying to kick the ball if Lucy is holding it. Be persistent when it is appropriate. But also avoid the mistake of Contact Magna Commercial Division for the very not stopping soon enough. best in customer service for your company. Take a look at your business. What should you stop doing? Magna Commercial Division 901.259.5642 magnabank.com www.thememphisnews.com February 4-10, 2012 31

Memphis NEWSMAKERS Super Bowl Edwards Joins Barnett Group Ad Sneak TAYLOR SHOPTAW | The Memphis News Preview

When you’re spending $3.5 million on a 30-second TV spot, maximiz- Jonathan Edwards has joined The Barnett Group as direc- ing buzz is the name of the game. That’s tor of client technology. Edwards will work with clients and why one of the overarching themes with prospects to analyze their medical claims and plan options. this year’s bevy of Super Bowl ads is pre- game promotion as well as the introduc- Hometown: Henderson, Tenn. sional, Secondhand Serenade, Josh tion of more social media integrated Groban, Framing Hanley, Tripswitch campaigns. Savvy marketers are taking a Education: Harding University, B.A. and Umiak more holistic approach. in marketing, 2006; Freed-Hardeman Leveraging last year’s success sown University, master of business admin- Activities you enjoy outside of from the early istration in leadership management, work: Playing soccer, playing the gui- release of the 2009 tar, running, remodeling houses and extremely popular walks with my wife and daughter. “The Force” ad, Work Experience: Zywave Inc., VW will again pay Milwaukee, Wisc., July 2010 to De- Who has had the greatest influence tribute to “Star cember 2011; Freed-Hardeman on you? My grandfather Earl Edwards Wars” – which University, study abroad, Citerna, and my father, Terry Edwards, have, holds a place Italy, 2007 to 2008 without a doubt, had the greatest in- near and dear to fluence on me. They taught me from a Lori turner- the hearts of the wilson Family: Wife, Kristin, 25; Daughter, young age that in order to be success- guerrilla sales targeted Gen X Mia Isabella, one month ful God must always be first in my life. and marketing market – with a The rest will follow. EDWARDS Photo: Lance Murphey canine chorus Last book read: “The Total Money barking the familiar “Star Wars” theme. Makeover” by Dave Ramsey What attracted you to The Barnett Arick Elion has joined Signature Called “The Bark Side,” it’s already gener- Group? I’ve had the pleasure of work- Advertising as a motion designer. ated 10 million views. Sports team: A.C. Fiorentina (Italian ing alongside The Barnett Group for Elion previously worked as an art Learning from VW’s success last year soccer), Memphis Grizzlies and Ten- the past year and a half, and since the director of a digital media company with the early release of their ad, many nessee Titans beginning have loved the way they where his focus was motion design brands are following suit this year. treated their clients. and print. Jennifer Casey has joined An early favorite, with over 4 million Favorite music: Dashboard Confes- as an account manager. Casey is a views, is a Matthew Broderick Honda ad graduate of the University of Mem- reminiscent of the movie “Ferris Bueller’s phis with a degree in journalism Day Off.” Ferris has traded in his Ferrari for with an advertising concentra- a more conservative Honda CRV. tion. Ben Hampton has joined as a Chevy has created a custom mobile designer. He previously worked as app – Chevy Game Time – that it will use an art director at inferno and held to give away 20 vehicles and other prizes internships at Red Deluxe and Com- over the course of the Super Bowl. Users bustion. receive a custom license plate number they are hoping will be featured on a car in Susan Krigbaum and Ray Mul- one of the Chevy spots during the game. lins have joined the board of direc- Audi is going the way of an unusual tors at Memphis’ RISE (Responsibil- vampire-inspired ad to promote its LED ity, Initiative, Solutions, Empow- headlights in a spot called “Vampire Party.” erment) Foundation. Krigbaum is Evidently these ultra-bright headlamps vice president of Express Business aren’t vampire-friendly, as they burn up Systems for FedEx Corp. Mullins is the entire group of vampire partygoers. It’s vice president and member district an interesting, though widely off-target, manager for Wells Fargo Bank. They choice for this upscale brand. will join 10 existing 2011-2012 RISE The bears are back. Coke appears board members. to be a potential frontrunner in interac- tive marketing this year, allowing fans to Rick Brillard has joined the audit interact with the bears on a site hosted staff of Reynolds, Bone & Griesbeck by Facebook – Cokepolarbowl.com. The PLC certified public accounting firm. bears will respond in real time to what’s happening in the game and the ads them- Maria Lapuente Garrett has selves – via both Twitter and Facebook. joined Metropolitan Bank as a senior There are a number of new celebrity managing director. Garrett has 11 sightings this year with John Stamos years of banking experience. She is endorsing Dannon Yogurt, the Pussy Cat a graduate of the University of Ten- Dolls backing Go Daddy, and “X Factor” nessee, Knoxville, and serves as TV reality show winner Melanie Amaro president of the board of directors of performing alongside Elton John for Pepsi. the Humane Society of Memphis & Crowd-sourcing is again the Doritos Shelby County. strategy, where everyday filmmakers are Robert L. Hutton has been elected encouraged to “Crash the Super Bowl” by a fellow of the Tennessee Bar Founda- creating their own commercials, which are tion. Hutton is a member in the firm voted on by the public at www.crashthe- Glankler Brown PLLC, practicing in superbowl.com. The winning spot will be Friday at 6:30pm WKNO litigation with experience in federal featured during the game. civil rights, constitutional law, gen- Which ads will be on fire? Which will Friday at 7:30pm WKNO2 eral business litigation and criminal fizzle out? Check back next week for the Sunday at 8:30am WKNO law. Invitations to memberships were final analysis. Monday at 5:00pm WKNO2 extended to 25 attorneys this year by the board of trustees. 32 February 4-10, 2012 www.thememphisnews.com

Memphis Law Talk Parham Focuses Practice on Estate Law

BILL DRIES | The Memphis News

state law has become so complex them deal with their issues,” As part of the Ten- that what an attorney calls his or he said. nessee Bar Association, Eher practice in the field has to have Parham earned his mas- Parham has been in on a certain precision. ter’s degree in estate plan- discussions with legisla- Attorney Michael R. Parham knew ning from the University tors about the state’s gift what he meant when he called his prac- of Miami Law School to go tax and possibly raising the tice Parham Estate Planning. further in work that had in- Tennessee inheritance tax He opened the firm in 2009 after volved some fundraising and exemption, which is now several years at Harris Shelton Hanover ultimately waiting on anoth- at $1 million. Tennessee Walsh PLLC. er attorney to complete the Gov. Bill Haslam this week He recently changed the name of his work he had started. proposed raising it to $1.25 practice to Parham Estate Law. Parham is certified in million and eventually “I wanted to make it clear that I limit Tennessee as an estate plan- raising it to match the $5 my practice to estate planning and pro- ning specialist. He recently million federal exemption. bate,” he said of his first choice. was licensed to practice law “They say estate plan- “Then I started to realize what peo- in Arkansas, expanding a ning must be pretty simple ple think of when they hear estate plan- practice that already includ- now. It’s not,” Parham said. ning is different from what I thought it ed Tennessee and Mississip- “The family dynamic just meant.” pi. And Parham is a member keeps getting more and They expected financial planning of the American College of more complicated. Every and investments. Trust and Estate Counsel. family is different. You “I had people thinking I was a bro- “As long as I can make a can’t just have a boilerplate kerage company,” he said. living just doing this, I have thing. … Every family is as Parham, who earned his law degree no desire to branch out into individual as people are. from Vanderbilt Law School in Nashville, any other areas,” he said of a … Even if the estate tax chose estate law after initially work- field that deals with the com- went away completely you ing for a Knoxville law firm that was plexity of laws and the com- would still have complex heavy on litigation. plexity of families. issues.” “I could not stand it. I hated litiga- “The tax planning – that’s That’s not to say federal tion,” Parham said. “I didn’t like the not even the majority when tax law is without its politi- conflict and all of that. I was doing some you talk about estate plan- cal vagaries. probate and I liked that.” ning. The bigger part is “It jumps around so He left to work in development at you’ve got asset protection. much. We have no idea Freed-Hardeman University in Hender- You’ve got special needs PARHAM what’s going to be the fed- son, Tenn. He specifically worked with planning. You’ve got divorce Photo: Lance Murphey eral law in 2013,” Parham college donors in estate planning. planning,” he said. “People said. “We know what it’s “I like working with families, helping ask me all the time, ‘What happens if my of thing. You can plan for it if he has a scheduled to be. But it’s very unlikely that them solve their problems. There’s really kid gets divorced? Is he going to lose his business that goes under, what will hap- (Congress) will let that happen without no conflict so to speak. You’re helping inheritance?’ You can plan for that kind pen to his inheritance.” changing something.”

Author Rosenfelt as Witty as His Novel’s Characters

In the last two columns, I’ve let thrown into a “Well, there is (and has been since it be known that I am reading the novels stormy sea. I Swear Crossword 1978) the American Crossword Puzzle of David Rosenfelt in order. I’ve provided Grab the book Tournament. For 30 years, it was held teaser-type blurbs for the first five: “Open to see where it Fleming’s weekly puzzle Page 36 in Stamford, Conn., and for the last four and Shut,” “First Degree,” “Bury the Lead,” goes from there, years has been held in Brooklyn. In 2006 “Sudden Death” and “Dead Center.” Since but be prepared there was a documentary about the last week’s column, I’ve read No. 6, “Play for a rough ride ‘intellectual property.’ You’d have to go crossword industry, ‘Wordplay,’ which Dead” (2007), and started “New Tricks” involving decep- VIC FLEMING to a ‘schlock property’ attorney to get became the 24th highest grossing doc of (2009). tion, intrigue, I SWEAR an informed opinion. In any event, use all time.” “Play Dead” starts with lawyer Andy organized crime anything you want.” To which Rosenfelt replied, “I had no Carpenter taking a dog of a case. Andy and a seeming governmental cover-up. Have I mentioned that Andy, as the idea about the crossword puzzle tourna- learns that a golden retriever named I wanted to use the first 21 pages of first-person, present-tense narrator of ment or movie, probably because I do Yogi is scheduled to be “put down” for “Play Dead” in the law class I teach. So I Rosenfelt’s books, is witty and sarcas- about eight minutes of research for each biting its owner. But it seems the owner emailed the author: “I am thinking about tic, that Rosenfelt regales his audience book. Unfortunately, I just finished the has been abusive to the dog. With that using the first few chapters in the Law & refreshingly with about three one-liners ‘Andy’ for this summer, but I’ll put Edna in knowledge, Andy pushes envelopes to Literature Seminar I teach. It will involve per page? a tournament in the book after that. And have Yogi’s sentence commuted by a photocopying 21 pages. That’s probably In my note to him, I also wrote, “You I’ll mention the tournament and movie no-nonsense judge who’d just as soon not forbidden on your copyright page, but it’s know Edna? Andy’s administrative as- when I do.” have the case. probably legit under the fair-use doctrine sistant who is addicted to crosswords? The book due out this summer is Andy then discovers Yogi’s real name of the copyright law. Please don’t make The person about whom Andy says there called “One Dog Night.” is Reggie and that he belongs to a prison me call my son-in-law, who is an intellec- ought to be a competition for her to show Next week: a blurb on “New Tricks.” inmate convicted five years earlier of tual property lawyer.” her skills? Doesn’t he also say in book Vic Fleming is a district court judge in murder. Reggie was thought to have been Rosenfelt replied, “First of all, my work four that there should be a movie about Little Rock, Ark. Contact him at vicflem- killed along with the inmate’s fiancée, isn’t intellectual enough to be considered her abilities? [email protected]. www.thememphisnews.com February 4-10, 2012 33

Memphis STANDOUT Bartlett Mayor McDonald Oversees Growth

ANDY MEEK | The Memphis News “That’s kind of the leadership. The awards honor one elected direction we’re in official and one non-elected official each right now. year. “We have want- The honorees selected by the Du- Editor’s Note: This is a Daily News ed the opportunity navant family and the Rotary Club of series featuring past winners of the Bobby to have some kind Memphis East will be announced at Dunavant Public Service Awards, which of special or mu- a luncheon Feb. 22 at 11:45 a.m. at the annually honor one elected and one non- nicipal system for Holiday Inn University of Memphis, 3700 elected government official. The 2012 years. And if we Central Ave. Brad Martin of The Martin awards will be presented Feb. 22. have success in the Institute will be the keynote speaker. new unified sys- The award is also sponsored by The eith McDonald isn’t finished. tem, if we have suc- Daily News and the University of Mem- The longtime owner of an in- cess in the munici- phis. Ksurance agency in Bartlett who got pal system, I be- Friends and family encouraged Mc- into town politics some 15 years ago, first lieve we’ll be able to Donald the businessman to enter politi- as an alderman then 10 years ago as may- do more and better cal life in what the town’s mayor calls or, had at least three terms on his mind MCDONALD economic develop- “the biggest small city in Tennessee.” early on. That’s how long he figured he’d Photo: Lance Murphey ment in the future. “We’re the 10th largest city in Ten- need, at a minimum, to get acclimated fied school district, and several suburbs People will come nessee now,” he said. “When I started out and then start accomplishing big things are pursuing plans for their own munici- here and say, ‘Oh yeah, they’ve got great 30 years ago, there were 3,000 or 4,000 for the Memphis suburb. pal school districts – a tantalizing pros- schools and great options for schools.’” people in Bartlett proper. Now there’s Those plans, though, have been pect for towns like Bartlett, the mayor of It would be another big leap for a town 54,000. So it’s grown by leaps and bounds somewhat ambushed by the economy as which said its citizens are eager for the that’s made plenty of them during the in the 10 years I’ve been mayor. Even in well as a seminal moment that’s arrived chance to take control of their own des- time McDonald – who also is a past win- the economic downturn, we’ve held our for Memphis and all of the suburban tiny when it comes to public schools. ner of a Bobby Dunavant Public Service own – both financially and in terms of towns that encircle it – the opportunity to “I think that’s something our citizens Award – has spent in politics. housing stock.” fundamentally reshape public education have made very clear that, if we can find a This is the latest in The Daily News’ McDonald is happy with the small- throughout Shelby County. way to do it, they would like for us to pur- Memphis Standout series on past win- town feel Bartlett has maintained. And he Memphis and Shelby County are still sue that,” said McDonald, who is in the ners of the Dunavant Awards, which are attributes success in his professional and laying the groundwork of a single, uni- second year of his third term as mayor. designed to promote better government political lives to his family.

Special Emphasis Issues What’s Coming Up FEB. 11 CONSTRUCTION

FEB. 25 FINANCIAL SERVICES

MAR. 3 HEALTH CARE

MAR. 17 RESIDENTIAL REAL ESTATE 12n-3p MAR. 31 OFFICE & INDUSTRIAL REAL ESTATE

APR. 14 MEMPHIS PUBLIC COMPANIES

For information about advertising in these upcoming issues, contact your account executive or Advertising Director Don Fancher at 901-528-5283 or [email protected] 34 February 4-10, 2012 www.thememphisnews.com

arts & culture

dance ‘RISE’ Showcases Co.’s Essence

JONATHAN DEVIN | The Memphis News Show will be visual representation of Collage dance Collective's mission

ebruary is celebrated as African- and Memphis would be a great place to American History Month by arts do it.” Fgroups across Memphis, but Col- Harper said that the classical ballet lage dance Collective hopes to make the aesthetic remains somewhat Euro-centric month part of a wider legacy. in African-American eyes, and that the Now in its second season in Mem- cost and time for training can be big phis’ only all-black ballet school and hurdles. After moving to Memphis, he professional company will stage a visual found no black ballerinas working here. representation of what it’s like for African- “Ballet training is very expensive and Americans to forge into unknown terri- it takes a considerable amount of time,” tory with their second of three concerts Harper said. “You have to train and usu- this season. ally it’s out of reach for even middle-class The collection will perform “RISE” families.” Feb. 12, at 2:30 p.m. at the Buckman Per- Still, the Memphis market, which is forming & Fine Arts Center at St. Mary’s greater than 60 percent African-Ameri- Episcopal School. can, is ready to be tapped, he said. “I would not say that it’s a Black His- “Our mission is to inspire the growth tory show, but it is a show that is a visual of ballet,” Harper said. “That doesn’t put representation of our mission,” said us in competition with any other com- Marcellus Harper, managing director of pany because in Memphis. We’re trying Collage. to build an audience that isn’t already “Unlike any of the other shows we’ve going to see ballet. What’s great is that staged, it showcases who we are.” eventually our audience will go see other Still there will be plenty of themes companies.” from the genre of Black History includ- Last season, Collage staged only two ing the impact of slavery and the rise of concerts – one in the fall and one in the spirituals and Gospel music. spring – but this season “RISE” was added The parallel theme though is how to showcase both the professional com- African-Americans have begun to find a pany and the school. place within the somewhat rigid structure About 70 dancers ranging in age from of classical ballet training. 4 to 40 will perform. Collage artistic director Kevin Thomas The professional company is a con- danced for 10 years with Dance Theatre temporary ballet company, so audiences Collage dance Collec- of Harlem (DTH) in New York, one of the will see some integration of form in the tive celebrates its own most noted companies in the world. Col- show, though the Collage school uses only legacy as a gateway for African-Americans lage actually began in 2004 as an offshoot classical training. into the Euro-centric of DTH until its professional company Local composer and Memphis world of classical bal- closed in 2007. The DTH school remains Symphony Orchestra member Jonathan let with “RISE,” Feb. 12, open. Kirkscey wrote original music for part of a blend of professional company members and “We felt that New York was a very the performance. ballet school members saturated market and we realized that if What audience members won’t see is onstage together at we really wanted to address diversity in hip-hop. the Buckman Perform- ballet, then we had to focus on the train- Tickets for “RISE” are $25 and can be ing & Fine Arts Center. ing component,” Harper said. “The pool purchased online at www.collagedance. Photo: Courtesy of Darius Williams is so small, so we decided to start a school org. happenings

»Community Temple Israel will host 2012 Eco Expo Sunday, Rhodes College will present how to use the accounting limited. To reserve a seat, call a lecture by Harvard Law software program Quick- 516-5639. The Children’s Museum of Feb. 5, from 11 a.m. to 3 p.m. at Temple Israel, 1376 Professor Robert Mnookin Books Wednesday, Feb. 8, Memphis will hold its annual E. Massey Road. The expo will explore sustainable titled “Bargaining with the from 9 a.m. to 11 a.m. at the Rhodes College will present Cirque du CMOM fundraiser Devil” Tuesday, Feb. 7, at 5 firm, 756 Ridge Lake Blvd. The “Your Best Just Got Better” with the theme “Night in » practices and technologies. Admission is free. For p.m. in Blount Auditorium of two-hour classes cost $75 with productivity coach Jason Hollywood: A Vanity Affair” Buckman Hall on the Rhodes per person. Seating is limited. Womack Thursday, Feb. 9, at Saturday, Feb. 4, at 7 p.m. at more information, call 482-6473. campus. The talk is free and To reserve a place, visit www. 5:30 p.m. in Blount Audito- the museum, 2525 Central open to the public. cannonwrightblount.com/ rium of Buckman Hall on the Ave. Tickets are $150 per resources. For more informa- Rhodes campus. The talk is person. For more information, Talk Shoppe will present tion about the QuickBooks free and open to the public. visit www.cmom.com. consumers, entrepreneurs 9, from 7:30 a.m. to 9 p.m. “10 Tips to Hiring the Right seminar series, call Debbie and other interested groups at The Peabody hotel, 149 Person” Wednesday, Feb. Bossé or Cathy Russell at The Booksellers at Laurel- The second annual Farm to discuss ideas for develop- Union Ave. Shelby County 8, from 9 a.m. to 10 a.m. at 685-7500. wood will host a book signing to Table Conference for ing the local food system of District Attorney Amy Weirich the Better Business Bureau, with Stephanie McAfee, Mid-South Producers will be Memphis and the Mid-South. will speak. Cost is $25 for 3693 Tyndale Drive. For more Methodist North Hospi- author of “Diary of a Mad Fat held Monday, Feb. 6, from 8 For more information, visit members and $35 for non- information, call Jo Garner at tal will offer a free hip and Girl” Thursday, Feb. 9, at 6 a.m. to 5 p.m. at the Memphis www.growmemphis.org. members. Registration is due 482-0354. knee replacement class p.m. at the bookstore, 387 Bioworks Foundation Confer- Monday, Feb. 6. To register, Wednesday, Feb. 8, from 11 Perkins Road Extended. ence Center, 20 Dudley St. The Greater Memphis contact Ericka Milford at 543- Cannon Wright Blount will a.m. to noon at the hospital’s The conference is designed to Chamber Breakfast Forum 3518 or emilford@memphis- continue its series of semi- Total Joint Center, 3960 New HAPPENINGS, CONTINUED provide a forum for farmers, will be held Thursday, Feb. chamber.com. nars that teach professionals Covington Pike. Space is ON PAGE 36 www.thememphisnews.com February 4-10, 2012 35

food & wine

RESTAURANT INSIDER

Halima Providing Halal MEMPHIS GRAPEVINE Fredric Koeppel Options for Memphians ‘Manly’ Red

FREDRIC KOEPPEL | The Memphis News Perfect For Big Game

hen all you manly men sit down to watch Super Bowl WXLVI Sunday, you will of course be gorging on manly snack fare – spicy chicken wings, mile-high nachos, pigs- in-blankets, watercress sandwiches with the crusts cut off – that requires a manly wine to wash down. (I know that many of you will be drinking beer, but I promise that there’s nothing manly about Bud Light.) So, as to the manly wine, you could not do better than the Airfield Es- tate Bombshell Red 2009, from Washington state’s Yakima Photo: Lance Murphey Mohammad Halimah, owner of Zaytoon Mediterranean Grill in Cordova, prepares an order of Valley. Yes, I hummus. Halimah also owns Sean's Cafe in Midtown. recommended this winery’s Riesling 2010 last week. They’re on a roll. My first note on this wine was “Ro- he Arabic word halal means “law- law. a 7-Eleven convenience store and then bust but not rustic.” Since so much of ful” or “permissible,” and while 3. The animal to be slaughtered the name “ Sean’s “ was attached to it, criticism is subjective, what the heck did the concept applies to many should be alive or deemed to be alive at and things remained in that state for a T I mean by that comment? I would say – aspects of Muslim life, its most common the time of slaughtering. number of years. use applies to food preparation. Though 4. The phrase “Bismillah” (In the Sean was Sean Hasan, and for most Education Alert! – that a robust wine is the Muslim population in Memphis is Name of Allah) should be invoked im- of the 1990s, the place was a conve- full-bodied, vigorous and boldly flavorful; usually put at about 10,000 to 15,000, mediately before the slaughter of each nience store with a small deli inside and a rustic wine, on the other hand, feels a that number seems to increase slowly animal. an emporium of, as the industry put it, bit rough around the edges, may be both but persistently, particularly in the 5. The slaughtering device should “cheap cigs,” but after a major remodel- hearty and hardy, but is primarily unso- medical field. Perhaps even more be sharp and should not be lifted off the ing in 1999, it reopened under the own- phisticated, direct and even blunt in its significant is the attraction that the animal during the slaughter act. ership of Mustafa Salah, a Palestinian appeal. Such rustic wines have a place rigorous purity of halal food has for the 6. The slaughter act should sever the who moved to Memphis in 1992 from in the Grand Scheme, and we have all health-conscious. Put these two strains trachea, esophagus and main arter- San Diego. Salah and Hasan owned the enjoyed them, particularly on their home together, and you get what Mohammad ies and veins of the neck region. (And local Smooth Moves franchise, and you ground, or lying on the ground. Halimah calls “a huge opportunity.” should not sever the spinal cord.) could find their Smooth Moves stores all Nothing rustic about Bombshell Red Halimah owns what amounts to a These rules are designed to make around Memphis and in the suburbs. ’09, though robust it definitely is. The Midtown icon, Sean’s Café – full name: certain that no forbidden meat or carri- So much for history. Halimah bought wine is mainly a blend of merlot and Smooth Moves Juice Bar at Sean’s Café on is consumed; that compassion, in the Sean’s in 2007, swept away the cheap syrah grapes with dollops of malbec, – and Zaytoon Mediterranean Grill in name of Allah, is shown to the animal; cigs aspect – “for religious and personal sangiovese and petit verdot. It puts ripe Cordova. A Palestinian born in Beirut that the animal receives a swift death; reasons” – eliminated the convenience fleshy slightly tarry black currant, plum and long a resident of the United States, and that no blood taints the meat. store shelving and products and, while and blueberry tart aromas and flavors Halima is a practicing Muslim who put For Halimah, 47, the conjunction keeping the name and the Smoothie op- right out front and backs them up with in a long apprenticeship in management of halal with contemporary concerns eration, began to focus on healthier fare. plenty of dense chewy tannins, spicy at Kentucky Fried Chicken – definitely about healthy eating, vegetarianism and “There is a lot of demand for veg- oak, earthy-graphite minerality and non-halal – and absorbed every aspect veganism speaks to the way that people etarian and vegan food,” said Halimah. the after-burner power of 15.1 percent of the restaurant business from portion- live and eat today – and the way he “It just took some adjustments to the alcohol. ing, supply chain, personnel issues and wants to operate his restaurants. menu. The neighborhood response is Bring on the barbecue sliders! customer service before making a leap To Midtowners with long memories, definitely positive. People who wanted into his own enterprise in 2007. it might seem as if the block of stores on cigarettes learned to go elsewhere. I The concept of halal is complicated the south side of Union between Avalon have a program for organic produce. It FOR YOUR VERY in many aspects, but in its application and Rozelle had always been shored comes from Georgia. If you order it on to the slaughter of animals it’s pretty by the bookends of The Toddy Shop (at Sunday, you can pick it up Wednesday.” OWN BOTTLE straightforward (from the Codex Ali- Avalon) and a convenience store (at Ro- At the northwest corner of the store, Buster’s wine & liquors mentarius Commission): zelle). Of course The Toddy Shop closed he is remodeling and adding an interna- 191 S. Highland St., $17-$18 1. The person should be a Muslim a decade ago, proving the sands always tional food market that will include halal LIQUOR & WINE DEPOT who is mentally sound and knowledge- shift beneath our feet in this wicked meats and kosher products. 756 Mount Moriah Road, $17-$18 able of the Islamic slaughtering proce- world. People of a certain age who grew Halimah bought the space at 694 N. dures. up in Midtown may remember that in Germantown Parkway in 2009. winery of germantown 2. The animal to be slaughtered the 1950s the spot where Sean’s Cafe is 7841 Farmington Blvd., $17-$18 should be lawful according to Islamic now was a filling station. Then it became HALAL, CONTINUED ON PAGE 36 36 February 4-10, 2012 www.thememphisnews.com Week of 1/30/12 - 2/5/12

The Weekly happenings

HAPPENINGS, CONTINUED FROM PAGE 34 Crossword Edited by Margie E. Burke Eighty3 will offer a special prix fixe Valentine’s rium of Buckman Hall on the Rhodes campus. by Margie E. Burke Day dinner menu Friday, Feb. 10, through Feb. The event is free and open to the public. The Weekly Crossword 14 at the restaurant, 83 Madison Ave. The four- ACROSS 1 2 3 4 5 6 7 8 9 10 11 12 13 course menu will include many items from the The River City Writers Series at the Uni- restaurant’s new small plates menu, as well versity of Memphis will open its Spring 2012 1 Make a trade 14 15 16 5 Dire situation as several special dishes. The cost is $80 per season with a reading by Sonja Livingston 11 Pirate's potable 17 18 19 person. Reservations are highly recommended Wednesday, Feb. 8, at 8 p.m. in the University and can be made by calling 901-333-1224 or Center, room 300, on the U of M campus. The 14 Burglar's booty 20 21 22 23 online at www.eighty3memphis.com. event is free and open to the public. For more 15 Quote by rote information, call 678-2651. 16 Holiday 24 25 The arts » The Buckman Arts Center at St. Mary’s preceder 26 27 28 29 30 17 Acne-prone The African American Studies Program at School will host a performance by Juggler Rhodes College in collaboration with Collage 18 Widely 31 32 33 34 35 36 37 and comedian Mark Nizer Friday, Feb. 10, at dance Collective will present “Where Are All 7 p.m. at Buckman, 60 Perkins Extended. For recognized 38 39 40 41 42 the Black Swans: A Community Response” more information, call 537-1483 or visit www. 19 Director's shout Wednesday, Feb. 8, at 6 p.m. in Blount Audito- buckmanartscenter.com. 20 She lived in a 43 44 45 46 47 shoe 48 49 50 51 22 Space cloud 24 Tennis 52 53 54 55 56 tournament 57 58 59 60 61 25 Part of FBI Halal Options 26 Monastery 62 63 64 65 leader 66 67 68 29 Castle feature HALAL, CONTINUED FROM 35 tional beef. Look, the halal is prescribed 31 Ledger entry 69 70 71 in religion. God has a reason for every- 33 Feathered scarf “It wasn’t the best time to make a thing. Halal food is healthier, and people 34 Corrosive Copyright 2012 by The Puzzle Syndicate new business venture,” he said, “but it’s like that. As far as faith is concerned, you compound working out. It’s basically a sit-down have to have accurate portioning ethically 38 Possesses 71 Out of whack 35 "____ Hand 50 Navy clerk 39 Atomizer scent Luke" 52 Intimidate Mediterranean restaurant, the only one on and religiously. The practice of worship is 42 Poetic tribute DOWN 36 Seacrest show, 53 Debate topic Germantown Parkway. I wanted to have a in dealing with people rightly and fairly, 43 Bigfoot's Asian 1 Go away! familiarly 54 Cabinet halal restaurant there” – Halimah and his not just in saying prayers and that sort of cousin 2 Cry like a baby 37 Turn down department family live in Cordova – “and though the thing.” 45 Meadowland 3 "____ Lang 40 Almost fat-free 56 Aquatic bird food cost is high, we have demands for it. Now, Halimah is working on a deal 46 Business mogul Syne" 41 Eagle's home 58 Fairway call It was a tough decision, but you do what to buy meat from a ranch near Jack- 48 Versailles 4 Subfloor material (var.) 59 Once more you have to do.” son, Tenn., and have it processed by the agreement 5 Rap sheet entry 44 Allergy 60 Word with One of the things he had to do was get Mennonites who live around Whiteville, 51 Wall Street 6 Take back, as symptom crazy or fry rid of the houka bar. thereby eliminating the transportation surge one's story 47 Buckthorn 61 Elton John song, Halimah used to serve Black Angus costs involved in buying halal meat from 52 Tell apart 7 Clickable image variety "____ Dancer" beef in both conventional and halal forms, Chicago or New Jersey. 55 Athena's shield 8 Moral misstep 49 Negligent 64 Part of a train “but even non-Muslims asked for the halal “Halal, organic, vegetarian, vegan, they (var.) 9 Circuit rider Answer to Last Week's Crossword 57 Bronchial 10 Break away beef,” he said, “so I eliminated the conven- all go together,” Halimah said. disorder 11 Happen again SLUSH CALL KALE 58 Meteorologist's 12 Throat dangler PINTO OBOE ARID offering 13 Tin or titanium UNDUE DESIGNING REED WATT AGATE 62 "Burn Notice" 21 Vision-related DRIER BRA network 23 Old VHS SOLEDADOBRIEN 63 1040 entry alternative TIC ANEMIA ONCE 65 Prefix for social 25 Croaking critter ADORN MOT MOCHA or skid 26 Stiff and sore LORE HONCHO ROT 66 Bolt securer 27 Scottish hillside CLEARINGHOUSE 67 Sacred Egyptian 28 Cream of the SET NEEDS beetle Weekcrop of 1/30/12SALSA - 2/5/12 FUME RITE 68 Rider's grip 30 German sub CLOUDNINE FIBER 69 Golf peg 32 Open- AGAR ALTO CALLS 70 Calm mindedness BANE BLOW CLEAT

Sudoku Edited by Margie E. Burke  Edited by Margie E. Burke Difficulty : Easy HOWHO TOW TO SOLVE: PLAY Each row must contain the  numbers 1 to 9; each column must contain the numbers 1  to 9; and each set of 3 by 3 boxes must contain the   numbers 1 to 9.    Answer to Last Week's Sudoku                                    Copyright 2012 by The Puzzle Syndicate  www.thememphisnews.com February February 4 4-10,- 10, 20122012 3737

public notices

#419, #420, #506, #514, #716, #717, 7222 Riverdale Bend SPACE STORAGE FACILITY LOCATED AT: Related Info Misc. Notices #718, #720, #721A. Memphis TN 38125 8000 AUTUMN CREEK DR. CORDOVA, Purchases must be made with cash only (901) 751-2824 TN 38016, 901-759-5691. THE PER- Also read our daily edition, The Daily Shelby County and paid at the time of sale. All goods The personal goods stored therein by SONAL GOODS STORED THEREIN BY News, in print or online every business are sold as is and must be removed at the following may include, but are not THE FOLLOWING MAY INCLUDE, BUT day for public notices for Memphis & the time of purchase. Extra Space Stor- limited to general household, furniture, ARE NOT LIMITED TO GENERAL HOUSE- Shelby County. age reserves the right to refuse any bid. boxes, clothes, and appliances. HOLD, FURNITURE, BOXES, CLOTHES Go to www.memphisdailynews.com or NOTICE OF PUBLIC SALE OF Sale is subject to adjournment. #45 Brandon Coath, #131 Kimberly AND APPLIANCES. THE PROPERTY OF: call 683.NEWS for more information. PERSONAL PROPERTY Feb. 4, 2012 Mhn11202 Dale, #207 Lisa Dodson, #269 Aloce KENDRA LONDON 365, SIERRA WARD Notice is hereby given that the under- Finney, #341 Janice Hunt Heaston, 352, NORMA MARTINEZ 125, JAMES signed will sell, to satisfy lien of the NOTICE OF PUBLIC SALE OF #442 Tina Chills, #456 Tracy Willis, GRAHAM 159, SCOTT MORTON 167, owner, at public sale by competitive PERSONAL PROPERTY #473 David Dyles, #483 Teresa Kim- LILLIAN INEZ HODGES 202, ACOSTA bidding on February 14, 2012 at 11:00 Notice is hereby given that the under- pel, #561 Carolyn Murden, #563 Sean HORTON 241, WILLIAM HOPSON 289, AM at the Extra Space Storage facility signed will sell, to satisfy lien of the Stewart, #669 John Franklin . TIFFANY FREEMAN 342. PURCHASES located at: 5675 Summer Ave Memphis owner, at public sale by competitive Purchases must be made with cash only MUST BE MADE WITH CASH ONLY 3175 N. GERMANTOWN RD TN 38134 901-372-6180 bidding on February 15, 2012 at 9:30AM and paid at the time of sale. All goods AND PAID AT THE TIME OF SALE. ALL BARTLETT, TN 38133 The personal goods stored therein by at the Extra Space Storage facility are sold as is and must be removed at GOODS ARE SOLD AS IS AND MUST BE 901-386-5746 FAX 901-386-8094 the following may include, but are not located at: the time of purchase. Extra Space Stor- REMOVED AT THE TIME OF PURCHASE. The personal goods stored therein by limited to general household, furni- 2010 W. Poplar Ave age reserves the right to refuse any bid. EXTRA SPACE STORAGE RESERVES THE the following may include, but are not ture, boxes, clothes, and appliances. Collierville, TN 38017 Sale is subject to adjournment. RIGHT TO BID. SALE IS SUBJECT TO limited to general household, furniture, NATASHA HENDERSON #B005E, TRAVIS 901.853.6382 Feb. 4, 2012 Mhn11209 ADJOURNMENT. boxes, clothes, and appliances. BROWN #B007A, MICHAEL GOFORTH The personal goods stored therein by Feb. 5, 2012 Mhn11198 G365 Benjamin Decker, E177 Randy #C012, LYDIA GOODMAN #E006A, the following may include, but are not PUBLIC NOTICE Bomar. PRIDE ELECTRIC COMPANY LLC MOYER limited to general household, furniture, NOTICE IS HEREBY GIVEN THAT THE NOTICE OF PUBLIC SALE OF Purchases must be made with cash only #F057, BENJAMIN D MOYER #F057, boxes, clothes, and appliances. UNDERSIGNED WILL SELL, TO SATISFY PERSONAL PROPERTY and paid at the time of sale. All goods GARY FRAZIER #G026. Purchases must Demario Tatum #217 LIEN OF THE OWNER, AT PUBLIC SALE BY Notice is hereby given that the un- are sold as is and must be removed at be made with cash only and paid at the Sharmika Williams-Deen #018 COMPETITIVE BIDDING ON FEBRUARY dersigned will sell, to satisfy lien of the time of purchase. Extra Space Stor- time of sale. All goods are sold as is Purchases must be made with cash only 14, 2012, AT 9:45 AM AT THE EXTRA the owner, at public sale by competi- age reserves the right to refuse any bid. and must be removed at the time of and paid at the time of sale. All goods SPACE STORAGE FACILITY LOCATED AT: tive bidding on February 15, 2012 at Sale is subject to adjournment. purchase. Extra Space Storage reserves are sold as is and must be removed 2673 MT MORIAH TERRACE MEMPHIS, 11:00AM at the Extra Space Storage Feb. 5, 2012 Mhn11207 the right to refuse any bid. Sale is subject at the time of purchase. Extra Space TN 38115, PHONE NUMBER 901-362- facility located at: to adjournment. Storage reserves the right to bid. Sale 9360. THE PERSONAL GOODS STORED 900 N. GERMANTOWN PKWY PUBLIC NOTICE Feb. 4, 2012 Mhd11199 is subject to adjournment. THEREIN BY THE FOLLOWING MAY CORDOVA, TN 38018 NOTICE IS HEREBY GIVEN THAT THE Feb. 4, 2012 Mhn11203 INCLUDE, BUT ARE NOT LIMITED TO GEN- 901-757-8988 UNDERSIGNED WILL SELL, TO SATISFY NOTICE OF PUBLIC SALE OF ERAL HOUSEHOLD, FURNITURE, BOXES, The personal goods stored therein by LIEN OF THE OWNER, AT PUBLIC SALE BY PERSONAL PROPERTY NOTICE OF PUBLIC SALE OF CLOTHES, AND APPLIANCES. APRIL COL- the following may include, but are not COMPETITIVE BIDDING ON FEBRUARY Notice is hereby given that the under- PERSONAL PROPERTY LINS #713, ALONZA ROBINSON #755, limited to general household, furniture, 15, 2012 AT 10:00 AM AT THE EXTRA signed will sell, to satisfy lien of the Notice is hereby given that the under- NIKITA JONES #770, NICOLE BLACK boxes, clothes, and appliances. SPACE STORAGE FACILITY LOCATED AT: owner, at public sale by competitive signed will sell, to satisfy lien of the #797, MARCUS HINES #1125, JASON 378-TONY IVORY, 506-TRAVIES MITCH- 2855 N. HOUSTON LEVEE RD. CORDOVA bidding on FEBRUARY 14, 2012 at owner, at public sale by competitive BROWN #1137, LAVERN POINTER ELL, 90-LATARSHA JONES, 347-ZEE- TN 38016 901-372-9522. 11:15 A.M at the Extra Space Storage bidding on FEBURARY 14,2012 #C3206, KIZZY MILLER C3406, JOYCE SHAN MEGHANI, 571-KIMBERLY THE PERSONAL GOODS STORED facility located at: 10:45 A.M. at the Extra Space Storage RUCKER #B8401, LAQUITA WRIGHT RAYDER THEREIN BY THE FOLLOWING MAY 4805 SUMMER AVE facility located at: #B8810. PURCHASES MUST BE MADE Purchases must be made with cash only INCLUDE, BUT ARE NOT LIMITED TO MEMPHIS, TN 38122 7301 WINCHESTER RD WITH CASH ONLY AND PAID AT THE and paid at the time of sale. All goods GENERAL HOUSEHOLD, FURNITURE, 901-682-1746 MEMPHIS, TN. 38125 TIME OF SALE. ALL GOODS ARE SOLD are sold as is and must be removed at BOXES, CLOTHES AND APPLIANCES. The personal goods stored therein by 901-759-1736 AS IS AND MUST BE REMOVED AT THE the time of purchase. Extra Space Stor- #485 MICHAEL SHUMPERT, #197 the following may include, but are not The personal goods stored therein by the TIME OF PURCHASE. EXTRA SPACE age reserves the right to refuse any bid. SHARIKA CARPENTER, #284 MARCUS limited to general household, furniture, following may include, but are STORAGE RESERVES THE RIGHT TO Sale is subject to adjournment. GIBBS, #70 YVONNE FREEMAN, #218 boxes, clothes, and appliances. not limited to general household, REFUSE ANY BID. SALE IS SUBJECT TO Feb. 5, 2012 Mhn11205 GEORGE JACQUES, #488 KEITH L TROT- LINDA ARMSTRONG #405; ANDREA furniture, boxes, clothes, and appli- ADJOURNMENT. TER, #479 KAVIA CATRON, AND #298 SHAW #303; DAVID BROOKS #265; ances. UNIT#14 KATRINA KENDRIX, Feb. 4, 2012 Mhn11210 NOTICE OF PUBLIC SALE OF NATASHA STEWART PURCHASES MUST FRANK HUNLOCK JR #346; JESSICA #45 ALAN NORFLEET, #137 KOTTORA PERSONAL PROPERTY BE MADE WITH CASH ONLY AND PAID BEAKE #249 ABSTON, #219 TRAVIS CHAFFEN VIN PUBLIC NOTICE Notice is hereby given that the under- AT THE TIME OF SALE. ALL GOODS ARE Purchases must be made with cash only #3J57K211316B5 AND VIN #J9191767 NOTICE IS HEREBY GIVEN THAT THE signed will sell, to satisfy lien of the SOLD AS IS AND MUST BE REMOVED AT and paid at the time of sale. All goods SOLD AS PARTS ONLY, #294 WANDA UNDERSIGNED WILL SELL, TO SATISFY owner, at public sale by competitive THE TIME OF PURCHASE. EXTRA SPACE are sold as is and must be removed at HALL, #311 LATREY SMITH, #316 LIEN OF THE OWNER, AT PUBLIC SALE bidding on February 15th, 2012 at STORAGE RESERVES THE RIGHT TO BID. the time of purchase. Extra Space Stor- LATASHA TILLMAN, #335 SHELIA WIN- BY COMPETITIVE BIDDING ON FEBRU- 11:45AM at the Extra Space Storage SALE IS SUBJECT TO ADJOURNMENT. age reserves the right to refuse any bid. TERS, #356 TERESA SPILLERS, #394 ARY 15TH AT 11:30 AM. AT THE EXTRA facility located at: Feb. 5, 2012 Mhn11208 Sale is subject to adjournment. DAVE BRITTON, #445 FRANCES SAND- Feb. 4, 2012 Mhn11200 ERS, #491 DEBBIE THOMPSON Purchases must be made with cash only NOTICE OF PUBLIC SALE OF and paid at the time of sale. All PERSONAL PROPERTY goods are sold as is and must be re- Notice is hereby given that the under- moved at the time of purchase. Extra signed will sell, to satisfy lien of the Space Storage reserves the right to owner, at public sale by competitive refuse any bid. Sale is subject to bidding on 02/14/2012 at 11:30 adjournment. AM at the Extra Space Storage facility Feb. 4, 2012 Mhn11204 located at: 4961 Covington Way PUBLIC NOTICE Memphis, TN. 38128 NOTICE IS HEREBY GIVEN THAT THE 901-372-0864 UNDERSIGNED WILL SELL, TO SATISFY The personal goods stored therein by LEIN OF THE OWNER, AT PUBLIC SALE the following may include, but are not BY COMPETITVE BIDDING ON FEB 14, limited to general household, furniture, 2012 AT 11:45 PM AT THE EXTRA SPACE boxes, clothes, and appliances. #101 STORAGE FACILITY LOCATED AT: Trinetta Boyland, # 145 Yolanda Grand- 4994 RALEIGH-LAGRANGE berry, #298 Tamara S. Jones Strong, MEMPHIS, TN. 38128 #421 Stephanie Dennis, #431 Ebony 901-388-9272 Vales, #545 Camisha R. Hawkins, #564 THE PERSONAL GOODS STORED THEREIN Colotta Peyton. BY THE FOLLOWING MAY INCLUDE, BUT Purchases must be made with cash only ARE NOT LIMITED TO GENERAL HOUSE- and paid at the time of sale. All goods HOLD, FURNITURE,BOXES,CLOTHES, are sold as is and must be removed at AND APPLIANCES. the time of purchase. Extra Space Stor- A018 JOHN KNAPP, B045 TYRONE age reserves the right to refuse any bid. WADE, C012 GARNETTE FULLER/ Sale is subject to adjournment. FULLER-CALONDRA, D007E THEODORE Feb. 4, 2012 Mhn11201 MACKLIN, E003 SANDRA M. DOWDY, E009 MARCELLUS WHITE, F035 NOTICE OF PUBLIC SALE OF SHANNDRA WRIGHT, G044 LATARSHA PERSONAL PROPERTY PEARSON. To a visitor, it’s barren desert. Notice is hereby given that the under- PURCHASES MUST BE MADE WITH signed will sell, to satisfy lien of the CASH ONLY AND PAID AT THE TIME To our supporters, it’s bustling with life. owner, at public sale by competitive OF SALE. ALL GOODS ARE SOLD AS IS bidding on February 14, 2012 at AND MUST BE REMOVED AT THE TIME 9:30AM at the Extra Space Storage OF PURCHASE. EXTRA SPACE STORAGE facility located at: RESERVES THE RIGHT TO BID. SALE IS Even the most arid landscapes are home to Earth’s amazing species. The Nature 2625 Mt. Moriah Rd. SUBJECT TO ADJOURNMENT. Conservancy is dedicated to protecting the variety of plant and animal life on Earth— Memphis, TN. 38115 Feb. 4, 2012 Mhn11206 (901) 794-1223 even when found in the most unlikely places. The Nature Conservancy has protected The personal goods stored therein by NOTICE OF PUBLIC SALE OF 117 million acres in 28 countries. With your support, that number will keep growing. the following may include, but are not PERSONAL PROPERTY limited to general household, furniture, Notice is hereby given that the un- Visit nature.org or call 1-888-2 JOIN TNC. boxes, clothes, and appliances. dersigned will sell, to satisfy lien of Sherrell Williams #100, Dabney Brooks the owner, at public sale by competi- #109, Ashley Boyland #112, Bobby tive bidding on February 14 2012 at Harris #564, Marlon Jermaine Goodwin 10:30AM at the Extra Space Storage San Rafael Desert, Utah © David Muench #719, Reletha Jayne Upton #384, facility located at: This message is made possible by the generous support of this publication. 38 February 4-10, 2012 www.thememphisnews.com

opinion

Time for Details BRIDGES: Difference Makers Last week we spotlighted formative” describes the results of the Samaritan’s Feet, which is providing new organization’s Bridge Builders programs, In Schools Saga shoes and renewed hope to the 300 which offer youth in grades 6 through 12 million people around the world who go three different ways to engage – Connect, n one of the more anonymous Hall is once again a spectator in a pro- without shoes each day. We also thanked Collaborate and Change. For adults, Team efforts in an interesting legisla- cess whose outcome is vitally impor- the volunteers who recently came out and BRIDGES, Workforce Development and tive session in Nashville, there tant to the city. helped us wash the feet of more than 200 GED/Life Skills programs are also offered. is apparently some discussion Cordova and the southeast Shelby kids here in Memphis, pro- The proven benefits for of requiring school systems to County area is so key to both schools viding them with new socks students who participate in these Icharge nothing less than fair market consolidation and the municipal and shoes as a part of the programs range from improved value if they rent or sell a school build- school districts because it is part city Samaritan’s Feet National academic achievement to in- ing to a charter school. of Memphis and part unincorporated Day of Service. creased concern for the welfare Meanwhile, suburban leaders con- county with city schools and county This week let us dis- of others and the increased belief sidering forming their own municipal schools on each side of the boundary. cuss an organization that is that one can make a difference in school districts have been told by their If there are changes in the schools helping to build a commu- their community. consultants that they shouldn’t have students from an area now attend, this nity of leaders to advance Jeremy Park When you think about what to pay anything to get existing school is where those changes will be in the racial, economic, educa- giving back that means for the future of Mem- buildings from Shelby County within countywide school system to come in tional and environmental phis, it is exciting! The organiza- the footprints of their municipal school August 2013. justice: BRIDGES. tion serves annually more than 15,000 districts. The legal opinion is based on What is needed is an “immediate For 90 years, BRIDGES has been fo- youth and adults who are learning, leading court cases rooted in annexations by peace” of sorts for this particular area cused on building personal bridges in our and helping to lift up our community. Stu- cities in the past in which such build- that could lead the way to a broader community by bringing youth and adults dents represent 85 area middle schools ings have been transferred to the city at consensus countywide. from diverse backgrounds together to and 56 high schools, covering the spec- no cost. The goal should be a relative stabil- experience learning that is adventurous, trum of public, charter, parochial, private As if on cue, bills turned up in the ity for parents that doesn’t undercut relational and transformative. and home-schooled. BRIDGES is serving hopper in Nashville that would take the desire to create a school system Its programs are designed to help all races, religions and income levels, and the unprecedented action of remov- – consolidated or municipal – that is students discover personal greatness by is truly helping to chart a new course for ing territory in the city of Memphis more than the sum of its parts. annexation reserve area from the city All of the cards should be on the igniting motivation and self-confidence, the interpersonal dynamics of our city. of Memphis. table including the reality that the mu- developing their creativity and communi- Getting engaged with BRIDGES is It is territory that is critical to the nicipal school districts need students cation skills, and enhancing their ability to easy. Set up a team-building session using formation of at least several municipal from outside their borders and the make ethical decisions. The learning also its rock wall, ropes course or other ex- school districts because none of the funding that follows them. And if those focuses on working effectively as a team, periential learning programs. Take a tour proposed school districts are simply municipal school systems should grow practicing leadership and youth-led social or consider hosting your next party or children living within the boundar- to fill their buildings only with students change as well as initiating and leading event at its BRIDGES Center. In terms of ies of a city or town attending schools who live within the city or town limits complex responses to issues that affect volunteering, there are many ways to help within that city or town. the boundaries would change again. their lives and improve the well-being of its efforts. Learn more by visiting www. There almost certainly will have to Just as Memphis leaders have the whole community. bridgesusa.org, reaching out to Linda be agreements among the municipal reached agreements before to tempo- With an indoor rock-climbing wall and McNeil at [email protected], or wel- school districts that allow Collierville rarily freeze school district boundaries, ropes challenge course high overhead, coming the organization’s new president, children to continue attending Hous- it seems reasonable to hope the rush to tying “adventurous” into the programs is Cynthia Ham, at 452-5600. easy at the futuristic BRIDGES Center. In- ton High School and Bartlett children form municipal school districts can in- Jeremy Park, director of communica- to continue attending Arlington High clude the same quick moves to relative clusion and respect for diversity are at the tions at Lipscomb Pitts Insurance and School. stability some advocates of municipal heart of the “relational” experience, with director of the Lipscomb Pitts Breakfast But take Grays Creek out of the school districts want from those form- strong friendships forged among children Club, can be reached at jeremyp@lpinsur- Memphis annexation reserve and City ing the consolidated school system. from vastly different backgrounds. “Trans- ance.com.

Paraprosdokians a Laugh a Minute, If You Read Fast

THE VOICES IN MY HEAD MAY NOT why it isn’t. 8. To steal ideas from one a vending machine. 20. A diplomat is be real, but they have some good ideas. person is plagiarism. To steal from someone who tells you to go to hell in That line, aside from being an apt many is research. 9. Whenever I fill out such a way that you look forward to description of my entire career, is a an application, in the part that says, “In the trip. 21. Hospitality is making your paraprosdokian – a figure of speech in case of emergency, notify:” I put “Doc- guests feel at home even when you wish which the latter part of a phrase causes t o r.” 10. I didn't say it was your fault, I they were. 22. When tempted to fight MEMPHASIS the reader to reframe the first part. dan conaway said I was blaming you. 11. A clear con- fire with fire, remember that the fire The comedian Steven Wright makes science is the sign of a fuzzy memory. department usually uses water. 23. Why a living off these things, and you prob- 1. Don’t argue with idiots. They’ll 12. I asked God for a bike, but I know does someone believe you when you ably have some living in your inbox right drag you down to their level and beat God doesn’t work that way. So I stole a say there are 4 billion stars but check now. you with experience. 2. The last thing bike and asked for forgiveness. 13. You when you say the paint is wet? 24. My friend Fred Smith – not that one, I want to do is hurt you. But it’s still don’t need a parachute to skydive. You Always borrow money from pessimists. the funny one – forwarded me a bunch on my list. 3. Light travels faster than only need a parachute to skydive twice. They won’t expect it back. 25. Some the other day. sound. This is why some people appear 14. There’s a fine line between cuddling cause happiness wherever they go. Oth- At the time, I was in heavy pursuit bright until you hear them speak. 4. If I and holding someone down so they ers whenever they go. of elusive meaning, deep in dark places agreed with you, we’d both be wrong. 5. can’t get away. 15. I used to be inde- And one more. If you didn’t find seeking light. Within minutes, I was We never really grow up, we only learn cisive. Now I’m not so sure. 16. You’re something funny in there, there’s some- spitting coffee on my keyboard and how to act in public. 6. Knowledge is never too old to learn something stupid. thing funny about you. laughing out loud. Thanks, Fred. knowing a tomato is a fruit. Wisdom is 17. To be sure of hitting the target, shoot I’m a Memphian, and I’m in a better By the way, there’s plenty of mean- not putting it in a fruit salad. 7. Evening first and call whatever you hit the target. mood. ing and light in paraprosdokians. news is where they begin with “Good 18. Nostalgia isn’t what it used to be. Dan Conaway can be reached at For example: Evening,” and then proceed to tell you 19. Change is inevitable, except from [email protected]. www.thememphisnews.com February 4-10, 2012 39

2012 SEMINAR SERIES

THURSDAY, FEBRUARY 9TH Social Media Legal Landmines - What Businesses, Marketers, Corporate and Legal Need to Know

@ 3:30 PM, BROOKS MUSEUM AUDITORIUM

KEYNOTE SPEAKER GLEN D. GILMORE Gilmore Business Network, Principal

PANELISTS

JIM MULROY Jackson Lewis, Managing Partner ERIC EPPERSON Pinnacle, VP of Corporate Culture & Communications AMY HOWELL Howell Marketing Strategies, Owner

Join us for an engaging seminar focused on Social Media policies and issues. We will also explore issues relating to highly regulated industries such as healthcare and the financial services.

Cocktail reception to follow. $25 to register at www.memphisdailynews.com/seminar

2012 SEMINAR CALENDAR APR JUNE AUG SEPT 5 7 2 20 HEALTHCARE MONEY & SUSTAINABLE BUSINESS OF REFORM MARKETS ENERGY HEALTHCARE