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Sears Crosstown Building to Be Reborn, Uplift Neighborhood

Sears Crosstown Building to Be Reborn, Uplift Neighborhood

Crosstown LLC, developer and current owner of the historic Sears Crosstown Building in Center City, has announced via a press release the signing of individual memorandums of understanding with nine founding partners…

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Peabody Memphis to Go Under the Knife; Luxury B&B Planned

Peabody Memphis to Go Under the Knife; Luxury B&B Planned

The Peabody Memphis, also referred to as South’s Grand Hotel, is expecting a major facelift. The 464-room hotel will begin a six-month renovation on Nov. 1, one that has been planned for the last few years and in design for one year.…

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$37M and $24M Industrial Transactions in Memphis

$37M and $24M Industrial Transactions in Memphis

The Memphis industrial market has been running hot with transactions over the past few weeks, with some major industrial market players coming to town and consolidating their presence in the Bluff City.…

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Amsdell Acquires Five Self-Storage Centers; StyleCraft Signs 170K-Sq.-Ft. Lease

Amsdell Acquires Five Self-Storage Centers; StyleCraft Signs 170K-Sq.-Ft. Lease

By Eliza Theiss, Associate Editor Cleveland-based Amsdell Storage Ventures VII LLC has purchased five self-storage centers in the Memphis metropolitan area for an undisclosed price. Two of the storage centers are located in Olive Branch, Miss. at 7097 Commerce Dr. and 7911 Hacks Cross Rd., while the other purchases are…

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International Paper Operations Sold; Warehouse Purchased For $7.5 M

International Paper Operations Sold; Warehouse Purchased For $7.5 M

By Eliza Theiss, Associate Editor International Paper, a global paper and packaging company, has announced via a press release that it has completed the sale of three of its operations as part of a February 2012 settlement agreement with the U.S. Department of Justice, this following the February 2012 acquisition…

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The Madison at Schilling Farms Goes for $32.1M; Bailey Creek for $23.8M

The Madison at Schilling Farms Goes for $32.1M; Bailey Creek for $23.8M

By Eliza Theiss, Associate Editor New York-based Somerset Partners LLC recently purchased the 232-unit Class A Bailey Creek Apartments for $23.8 million, or $102,586 per unit, reports the Memphis Business Journal. Located at 1907 North Bailey Woods Dr. in Collierville, Bailey Creek features one-, two and three-bedroom apartments with one…

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Country Oaks Sold for $6.7M; Arbor Hickory Hill Goes for $10M

Country Oaks Sold for $6.7M; Arbor Hickory Hill Goes for $10M

By Eliza Theiss, Associate Editor The Memphis multifamily market’s southeastern subdivision seems to have picked up as the 200-unit Country Oaks Apartments at 3865 Kirby Pkwy. in Hickory Hill recently sold for $6.7 million to LCP Memphis LLC, reports The Memphis Daily news. The New Jersey-based company bought the property…

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$157M Roxul Facility to Be Built; 2M Sq. Ft. of Industrial Property Sold

$157M Roxul Facility to Be Built; 2M Sq. Ft. of Industrial Property Sold

By Eliza Theiss, Associate Editor Rockwool International has officially announced it will be expanding its North American operations and building its first Roxul Inc. manufacturing facility in the U.S. near Memphis. The location for the approximately $157 million plant has been identified as Marshall County, Miss.—31 miles from the city.…

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Lincoln at Wolfchase Sold for $27.75M; Ike’s for $9.5M

Lincoln at Wolfchase Sold for $27.75M; Ike’s for $9.5M

By Eliza Theiss, Associate Editor The 408-unit Lincoln at Wolfchase Apartments in Cordova has been recently purchased for $27.75 million, or $66,789 per unit, reports the Memphis Business Journal. Irving, Texas-based investment management firm Archon Group LP, working under the name MLQ-ELD LLC, purchased the asset from Lincoln at Wolfchase…

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Fieldstone Apartments Prepares for Phase Three; International Paper Sells Three Mills

Fieldstone Apartments Prepares for Phase Three; International Paper Sells Three Mills

By Eliza Theiss, Associate Editor Developers are preparing to break ground on Fieldstone Apartments’ third phase, reports The Memphis Daily News.  Working under the name Fieldstone Apartments III Co., developers filed a $7.5 million building permit application with the city/county Office of Construction Code Enforcement. Fieldstone’s third phase will consist…

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Appling Lakes at Cordova Club Sold for $26.4 Million

Appling Lakes at Cordova Club Sold for $26.4 Million

By Eliza Theiss, Associate Editor Appling Lakes LLC of Salt Lake City has purchased the 312-unit Appling Lakes at Cordova Club apartment community from 27 tenant-in-common investors for $26.7 million. The sellers bought the property in 2005 for $26.9 million. The purchase was financed with a $19.9 million loan filed…

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$19.8M Redevelopment Planned for Chisca Hotel

$19.8M Redevelopment Planned for Chisca Hotel

By Eliza Theiss, Associate Editor Developers working under the name Main Street Apartments would like to turn the blighted historical landmark formerly known as the Chisca Hotel into a $19.8 million mixed-use development featuring ground floor commercial space. The upper floors would be turned into 149 apartments with an average…

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