Fogelman Properties Buys N.C. Apartment Community
Memphis-based Fogelman Properties has acquired a 328-unit multifamily community in Raleigh, North Carolina, for $43.4 million.
Built in 1988, Lake Cameron Apartments was 95 percent occupied at the time of purchase and features one-, two-, and three-bedroom units ranging from $848 to $1,249 per month.
Fogelman acquired the property through a joint venture with New York-based DRA Advisors, which has resulted in the acquisition of 26 multifamily communities containing more than 8,800 with an aggregate value of more than $780 million since 2003.
“We are thrilled to further expand our longstanding partnership with DRA and add this high-quality asset to our local Raleigh portfolio,” Fogelman Properties CEO Rick Fogelman said. “As active investors and seasoned property managers with 30-plus years’ experience in the local market and more than 4,000 apartment homes in our DRA partnership, we look forward to continued growth across the Raleigh-Durham region and within our longstanding relationship with DRA Advisors.”
– Patrick Lantrip
Caissa Public Strategy Inks Deal in Clark Tower
Caissa Public Strategy has inked a new deal to occupy 5,086 square feet on the 17th floor of the Clark Tower in East Memphis.
“As our team continues to expand, we needed a space that could meet our growing needs,” said Brian Stephens, CEO of Caissa. “Clark Tower was the right choice for us because of the updated space and central location. We look forward to the continued growth of Caissa and our partnership with the Clark Tower team.”
The local marketing firm won’t be moving far, as it was previously located in the neighboring i-Bank Tower, which shares the same landlord, In-Rel Properties.
“When Caissa approached us with their vision for growth and expansion, we found a space that was a perfect fit at Clark Tower,” said Dale Bowden, senior property manager at In-Rel Properties. “Owning both towers gives existing and prospective tenants limitless options and flexibility.”
In addition to their Memphis headquarters, Caissa also operates an office in Washington, D.C.
In early 2017, Colliers International was awarded the leasing assignment for In-Rel’s 1.25 million-square-foot office portfolio, which includes Clark Tower, i-bank Tower, Lynnfield Office Park and 2400 Poplar Avenue.
Ron Riley, Colliers’ senior vice president of Office, and Laura Taylor, vice president of Office Leasing, serve as the portfolio’s primary leasing contacts.
– Patrick Lantrip
Bite Squad Expands Into Southaven
Restaurant delivery service Bite Squad has expanded into Southaven with the acquisition of local restaurant delivery service City-Spree.
Southaven marks the first city in Mississippi that Bite Squad will service, and it will offer delivery from nearly 100 local restaurants at its launch, including local favorites such as Maria’s Cantina, Kublai Khan, Akita Sushi & Hibachi Steakhouse, Lost Pizza Co., Mister P’s Buffalo Wings and Old Style Bar-B-Q.
Delivery is available within a 7-mile radius of participating restaurant partners.
Bite Squad has been working with the City-Spree team to transition their existing local operations to the Bite Squad platform.
Enhancements to the new service include a consumer app with live order tracking to keep customers updated on where their food is and when it will arrive; a live chat support team for real-time help; and fully uniformed, trained employee drivers.
The Southaven service will launch on Monday, April 2. Customers in the area can order Bite Squad seven days a week, between the hours of 10:30 a.m. and 10 p.m.
Orders can be placed on the Bite Squad app or website, bitesquad.com, and delivery fees will start at $2.99 in the Southaven area.
To celebrate the launch, Bite Squad is offering new customers in Southaven free delivery to try out the service. Residents can enter the code GREETINGSMS at checkout to get the discount.
– Andy Meek
Farm-to-Table Dinner To Benefit Farmers Market
Oxford Community Market, a nonprofit weekly farmers market in Oxford, Mississippi, will host a community fundraiser after it kicks off its 2018 season Tuesday, April 17, from 3 p.m. to 6:30 p.m. at the Old Armory Pavilion, 1801 University Ave.
Following the first market, six chefs from some of Oxford’s best restaurants are teaming up to host First Market Feast, a farm-to-table fundraiser dinner to benefit the market.
The mission of the 501(c)(3) organization is to improve access to fresh, healthy local food for shoppers with limited incomes.
The team of chefs behind First Market Feast includes Vishwesh Bhatt of Snackbar, Corbin Evans of Oxford Canteen, Joel Miller of Ravine, Nick Reppond and Heath Johnson of GRIT, and John Stokes of Tarasque Cucina.
“Ever since I was a little boy, farmers markets have played a huge role in discovering more about food and community,” Evans said. “My cooking style has always relied on the bounty of harvests at these markets and the camaraderie of shoppers, chefs and vendors has continued to inspire me to cook locally, seasonally and with pride for what our community produces.”
The event will feature local early spring produce, eggs, honey, meats and baked goods from Oxford Community Market vendors and will be served family-style at the market site.
Wine pairing for the dinner is provided by event sponsor Kiamie’s Wine and Liquor.
A pre-dinner reception starting at 6:30 p.m. will feature Cathead Vodka seasonal cocktails and appetizers. Tate Moore and Dave Woolworth of Kudzu Kings will provide music.
Dinner tickets are $75 per person, including wine. The meal begins at 7 p.m.
VIP tickets are $100 per person and include one dinner ticket, access to the VIP bar and live music pre-dinner, which begins at 6:30 p.m.
For tickets to the dinner or more information about the market and its programs, visit oxfordcommunitymarket.com or contact Betsy Chapman at 662-816-7413.
– Daily News staff
In-State Immigrant Tuition Bill Dead in Tennessee
A bill to offer in-state tuition for Tennessee public college students whose parents brought or kept them in the country illegally has stalled because House leadership won’t let it go forward, the sponsor said Wednesday.
Republican Sen. Todd Gardenhire said the bill has become a “political hot potato,” pointing out that the four major GOP gubernatorial candidates have said they oppose it, including House Speaker Beth Harwell.
Gardenhire took offense when U.S. Rep. Diane Black, another Republican candidate for governor, blasted the bill. She said, “Too many times, so-called conservatives get elected promising to fight against liberal policies, only to embrace them once in office.”
“I’m not only offended, but I’m very upset about that,” said Gardenhire, a Chattanooga lawmaker. “So, her day of reckoning will come when she comes to Hamilton County.”
The tuition bill only applies to students who spent at least three years in Tennessee high schools or home schooling before graduating or finishing GED testing.
A similar measure in 2015 passed the Senate, but died by a single vote on the House floor. The legislation died by one vote in a House committee last year. Voters have favored the change widely in polls.
In a contentious election year, the bill’s fate was further complicated by federal inaction to extend a President Barack Obama-era program offering a reprieve from deportation to thousands of young immigrants who were brought into the country illegally as children.
President Donald Trump has proposed a pathway to citizenship for 1.8 million young immigrants who currently could qualify for deportation protection, but in exchange he wants new legal immigration restrictions and $25 billion for border security. The plan has divided Congress.
The defeat of the Tennessee bill dealt a blow to the affected students who have frequented the Capitol complex, lobbying lawmakers and snapping photos with Republican Gov. Bill Haslam, who has said he supports the proposal because the state needs a trained workforce.
They lined up outside legislative committee rooms Wednesday, holding signs that read, “Give us a chance, give us a vote. #LetUsLearn.”
– The Associated Press
FedEx Acquires UK-Based E-Commerce Company
FedEx Corp. has acquired P2P Mailing Limited, an e-commerce transportation solutions provider based in the United Kingdom, for $130 million.
Memphis-based FedEx said it was interested in P2P to expand its portfolio of e-commerce offerings.
“This acquisition is a further step in achieving the global mission of the FedEx Trade Networks group to provide specialized solutions to customers,” Richard W. Smith, president and CEO of FedEx Trade Networks Inc., said in a release.
Laindon, England-based P2P, which specializes last-mile delivery options in over 200 countries, will operate as a subsidiary of FedEx Cross Border within the FedEx Trade Networks operating company.
“Global e-commerce continues to grow at a rapid pace, and more and more merchants, marketplaces, e-commerce and social platforms are looking for innovative, cost-effective ways to get merchandise from distribution points in one country to customers in another,” said Carl W. Asmus, president and CEO of FedEx Cross Border. “By adding P2P to the FedEx portfolio, we will be able to effectively serve even more elements of the e-commerce market.”
– Patrick Lantrip
Nickelberry to Transfer From Univ. of Memphis
The first player to leave the University of Memphis basketball program under coach Penny Hardaway is guard/forward David Nickelberry, who averaged 2.8 points and 1.7 rebounds as a freshman under Tubby Smith.
Nickelberry announced his decision via social media Tuesday, March 27. Hardaway now has four open scholarships.
Earlier, Connor Vanover, who was recruited by Smith and set to arrive next season, was granted a release from his national letter of intent. Guard Myreon Jones, another Smith recruit, de-committed after Smith’s firing and the hiring of Hardaway.
– Don Wade
UT, Memphis to Renew Basketball Rivalry
Tennessee and Memphis have agreed to renew their basketball rivalry starting next season.
The Volunteers and Tigers will play Dec. 15 at Memphis’ FedEx Forum in the first meeting between the programs since the 2012-13 season.
They’ll meet again at Knoxville’s Thompson-Boling Arena in the 2019-20 season and at Nashville’s Bridgestone Arena in 2020-21. Exact dates for the Knoxville and Nashville games haven’t been set.
A contract obtained through a public records request indicated the Nashville game would occur either on Dec. 18, 2020, or Dec. 20, 2020.
Tennessee coach Rick Barnes and new Memphis coach Penny Hardaway had said Monday that the Tennessee-Memphis series would resume sometime during the upcoming season. The games were officially announced Wednesday, March 28.
Tennessee leads the series 14-11, though Memphis has won the last three matchups. The teams met annually from 2006-13.
– The Associated Press
Sedgwick Invests $1 Million In River City Partnership
Sedgwick Claims Management Services Inc. has made a $1 million commitment to support the University of Memphis’ River City Partnership, which engages talent and scholarship from the U of M through a partnership with Shelby County Schools to improve the quality of urban education.
The partnership places a unique emphasis on recruiting and training local teacher candidates, with a special focus on identifying educators from underrepresented groups, including African-American males and Latinos.
It addresses the entire teacher pipeline, from introducing high school students to teaching as a career, to preparing U of M undergraduate and graduate students, to induction as a Shelby County Schools teacher to retention strategies for new and existing SCS teachers.
The U of M has revamped its curricula for undergraduate and graduate students to prepare them to teach not only in an urban setting, but specifically in the Shelby County Schools system.
Cultural competence is a foundation of the curriculum as well as a key factor in the admission process, which uses a screening system to predict successful long-term retention.
The River City Partnership encourages teacher candidates to intentionally select the urban education pathway, creating a deep partnership with local schools and implementing high school teacher cadet programs while building an early interest in teaching as a career.
– Don Wade
Memphis Greenspace Plans Spring Park Programming
The nonprofit Memphis Greenspace has announced a first wave of activation in its current park portfolio of Memphis Park and Health Sciences Park.
In conjunction with the Downtown Memphis Commission and UrbanArt Commission, Memphis Park will host the Truth Booth – an interactive, transmedia global project featuring an inflatable, portable speech bubble recording booth – Tuesday, April 3, from 2 p.m. to 6 p.m.
After the nonprofit’s involvement in helping remove Confederate statues from those parks, Memphis Greenspace president Van Turner said the idea behind the new project is to “capture and celebrate” diversity and give Memphis a forum to “speak some inspirational truth about how our city is looking forward and making progress.”
The Truth Booth will also make an appearance at RedZone Ministries in Orange Mound on Friday, April 6, from 3 p.m. to 6 p.m.
The DMC, meanwhile, is instituting a weekly meditative arts series through September in both Memphis Park and Health Sciences Park. And Downtown Yoga at Memphis Park is back by popular demand on Tuesdays at 6 p.m.
In Health Sciences Park, the DMC has organized free lunchtime programming for medical students, employees and visitors. These include Tuesday lunchtime tai chi, Thursday lunchtime yoga and a Friday lunchtime music series.
Visit Memphis Greenspace’s new Facebook page, facebook.com/memphisgreenspace, for details on these and other events.
– Andy Meek
Hollywood Feed Expands Into North Carolina
Memphis-based natural and holistic pet food retailer Hollywood Feed has opened its first North Carolina store in Cary, a city in the Research Triangle area between Raleigh, Durham and Chapel Hill.
“As our footprint has expanded across the Southeast, North Carolina was a natural choice for our company’s growth,” Hollywood Feed president Shawn McGhee said in a statement.
With the opening of the 3,158-square-foot location, the chain encompasses nearly 70 stores across 10 states: Tennessee, Alabama, Arkansas, Georgia, Kentucky, Mississippi, North Carolina, Oklahoma, South Carolina and Texas.
McGhee recently told The Daily News the retailer is on track to open 20 to 25 stores this year, including additional stores in Oklahoma, Georgia, Mississippi and South Carolina.
Hollywood Feed operates 13 stores in the Memphis area, the newest being a 5,000-square-foot build-to-suit space at Collins Street and Sam Cooper Boulevard that replaces its flagship location on Broad Avenue. The retailer soon plans to move its corporate offices and warehouse from the Broad Avenue space to a 180,000-square-foot facility off Warford Street that will serve as the distribution center for all Hollywood Feed stores nationwide.
– Daily News staff
Smurfit Board Rejects IP’s 2nd Takeover Bid
International Paper Co. of Memphis said Monday, March 26, it wants to “engage” with the board of Smurfit Kappa Group after the Irish cardboard box and paper bag maker rejected IP’s second takeover bid in three weeks.
The latest bid was a cash and stock offer that values Smurfit at $11 billion.
“We have approached Smurfit Kappa because we believe that there is a compelling strategic and financial logic for a combination,” International Paper CEO and chairman Mark Sutton said Monday in a written statement. “We very much hope to have a constructive dialogue with Smurfit Kappa to help us to take this forward.”
Smurfit may have other corporate suitors as well, with the stakes being access to the European market as e-commerce grows the market for boxes and packaging.
The company originally responded to IP’s overtures in February with a statement from its CEO saying there was no need to pursue discussions. About a week later, after IP continued to pursue the acquisition, the leaders of the two corporations met and IP delivered its first proposal.
The Smurfit board rejected the offer March 5, and in a press release the next day called the offer “highly opportunistic.” IP submitted its second offer March 22 with an invitation to meet. That was the offer rejected Monday by the Smurfit board.
– Bill Dries
American Home Shield CEO Leaves As Spinoff Continues
The head of the American Home Shield division of Memphis-based ServiceMaster Global Holdings has left the company as it continues the process of spinning off from ServiceMaster.
AHS president Tim Haynes is leaving as the company searches for new leadership. Steve Hochhauser becomes the interim leader of the home warranty business. He comes to the position from being CEO and chairman of Johns Manville, a Denver-based corporation that makes insulation and roofing materials.
AHS’ spinoff was one of the first moves Nik Varty announced after becoming ServiceMaster’s CEO last August.
In announcing Haynes’ resignation Monday, March 26, the company said it remains on track to complete the spinoff in the third quarter.
The spinoff is being overseen by Dion Persson, senior vice president of business development and a former Ingersoll Rand executive. Hochhauser has held executive positions at Ingersoll Rand as well as United Technologies.
– Bill Dries
Tigers’ Softball Freshman AAC Player of the Week
University of Memphis freshman designated player Kendall Lee has been named the American Athletic Conference Player of the Week after helping lead Memphis to a 4-1 week, including a 2-1 mark to open AAC play against Wichita State. This is the first-ever conference honor for Lee and the third time this season Memphis has had a player earn the title of Player of the Week.
Lee started her week off with a pinch-hit grand slam against Ole Miss last Tuesday, March 20. It was Lee’s first collegiate home run and it helped lift Memphis to a 9-3 victory. She backed up that pinch-hit homer with another home run, a three-run shot, in the win over UT Martin on March 21.
Against Wichita State, Lee earned a spot in the starting line-up and continued to produce for the Tigers. On Sunday, Lee’s single up the middle in the top of the eighth inning drove in what proved to be the game-winning run to give Memphis the series victory. Lee finished the week hitting .400 and led Memphis with five runs scored and eight RBIs.
– Don Wade
Riverfront Agency Names Coletta President and CEO
The new president and CEO of the Riverfront Development Corp. will oversee changes in the organization that runs the city riverfront under a contract with the city. The changes include more of an emphasis on raising private money for the city’s riverfront plan as well as a name change to be announced later.
Carol Coletta was approved by the RDC board Monday, March 26, to succeed Benny Lendermon – the founding president of the RDC who announced in October that he would retire from the post effective in April.
Coletta, a native Memphian active in Downtown redevelopment since the 1980s, is a senior fellow with the Detroit-based Kresge Foundation.
The philanthropic organization has been active in Memphis in recent years, providing funding for, among other projects, the Fourth Bluff effort seeking to activate two riverside parks, the Cossitt Library and the bluff behind the University of Memphis Cecil C. Humphreys School of Law.
She will retain her roles in the Fourth Bluff effort and at Kresge while at the helm of the RDC. Kresge will consider Coletta a “loaned executive” to the RDC.
RDC board chairman John Farris, in a written statement after Coletta’s selection, said the organization’s focus is now carrying out the riverfront plan laid out last year by Memphis Mayor Jim Strickland.
“This is our moment to create the riverfront Memphis deserves, and we are eager to make the Memphis Riverfront Concept a reality,” Farris said.
For the RDC, that means more than its original mission of maintaining the city park land and other city-owned amenities along the riverfront. The organization is developing a new business plan and plans to hire more staff toward a goal of raising private money to finance a good deal of the city’s plan.
The riverfront plan was developed by Chicago-based planning group Studio Gang. It got an immediate boost two months after the concept was unveiled when the Memphis Brooks Museum of Art board voted to pursue moving the Overton Park institution to the riverfront. The Brooks picked the block between Union and Monroe avenues that the Studio Gang plan had indicated could be a site for a “cultural asset.”
The Studio Gang plan revives and adapts plans for an aquarium originally proposed for the Pyramid that would instead be on the south end of Mud Island River Park with a pedestrian and bicycle bridge connecting the south end to the riverfront site of the Brooks Museum and a renovated Cossitt Library.
“Our riverfront represents a tremendous opportunity to transform Memphis,” Coletta said. “And I cannot wait to begin this important work.”
– Bill Dries
FedEx Freight Reserves 20 Tesla Electric Semis
FedEx Corp. has placed a reservation with Tesla for 20 Tesla fully electric semi-trucks, which are scheduled to begin production in 2019.
The Memphis-based shipping giant, which announced the Tesla order Monday, March 26, said the semis will be operated by FedEx Freight, its less-than-truckload unit.
“FedEx has a long history of innovation and incorporating sustainability efforts throughout its global network,” FedEx Freight president and CEO Mike Ducker said in a release. “Our investment in these trucks is part of our commitment to improving road safety while also reducing our environmental impact.”
Tesla claims its new electric semis will deliver a better experience for truck drivers, while increasing safety and significantly reducing the cost of cargo transport.
Technologies such as surround cameras and onboard sensors help to aid object detection while also enabling enhanced autopilot for automatic emergency braking, automatic lane keeping and lane departure warning, according to FedEx.
Tesla also touts electric energy cost savings that are half that of diesel.
– Patrick Lantrip
Baseball Tigers to Retire Ron McNeely’s Jersey
Continuing a tradition started by head coach Daron Schoenrock in 2005, the University of Memphis baseball team will retire the jersey of two-time All-American Ron McNeely prior to the Saturday, March 31, game against UCF at FedExPark.
The pregame ceremony will take place approximately 20 minutes before the 11:30 a.m. scheduled start time.
McNeely enjoyed one of the most decorated baseball careers in University of Memphis history, playing from 1974 to 1976.
In addition to becoming a two-time All-American, McNeely still holds the University of Memphis single-season record for batting average, hitting .462 as a junior in 1976.
Despite having his single-game records broken, he is one of only 10 players in program history to have five hits in a game and one of nine players to steal four bases in a game.
During his three years, the Tigers posted records of 24-22, 30-8 and 32-11. In 1975, with McNeely batting .411 with 29 RBI, Memphis won its first Metro Conference Championship behind a 5-for-5 performance from McNeely in the title game. That same season, McNeely set school records at the time for fewest strikeouts in a season (1), most runs scored in a season (43), and most stolen bases in a season (24).
In 1976, McNeely’s average was up to .462, a school record that still stands, and his 67 hits were also a school record at the time as Memphis advanced to its first NCAA Tournament. McNeely’s .395 career batting average is third all-time for a Tiger.
Following McNeely’s playing career at Memphis, he was drafted by the Oakland A’s, and made it as high as AA in the Athletics organization. McNeely was inducted into the University of Memphis M Club Hall of Fame in 1990.
– Don Wade
Memphis Farmers Market Names Executive Director
Rebecca Dull has joined the Memphis Farmers Market as executive director. Dull, who began her new role Monday, March 19, has experience working in various nonprofits, community markets and fundraising as well as more than seven years of experience in communications and marketing.
“I have a passion for sustainable food systems and community development,” Dull said in a statement to market leadership. “I believe farmers markets are vital not only to the farmers but to the surrounding neighborhoods.”
Most recently, she served as assistant director at Carbondale Main Street in Carbondale, Illinois, where her duties included event coordination, solicitation and community engagement.
Dull has extensive volunteer experience spanning from employee mentoring to community outreach and public relations.
MFM will begin its 2018 season April 7 with new hours. The market will be open every Saturday through October from 8 a.m. to 1 p.m.
“Based on input we’ve received from our vendors, the Memphis Farmers Market will open one hour later each Saturday during the market season,” said Lisa Taylor, 2018 MFM board president.
The Memphis Farmers Market sits on the corner of South Front Street and G.E. Patterson Avenue in the footprint of the soon-to-be-revitalized Central Station pavilion. As the Central Station development continues, the market will be open and accessible with plenty of parking.
Started in 2006, the Memphis Farmers Market serves the city by providing access to local food and seeking to educate the community about nutrition and good health. It accepts SNAP benefits and is a Pick Tennessee Farmers Market, supported by the Tennessee Department of Agriculture.
– Daily News staff
Businesses to Add Retail Presence in Binghampton
Two local businesses with family ties, Green Goddess Gourmet Vegan Foods and Angels and Tomboys, will be establishing a joint retail presence in Binghampton.
Located at 3078 Summer Ave., the new retail space will combine Green Goddess’ selection of vegan foods, and Angels and Tomboys’ vegan-friendly handmade body lotions and sprays for tweens, with a communal lounge that will offer community classes and workshops focused on healthy living.
Green Goddess was founded 10 years ago by Omi Ogunwale El, and has had its product sold at Whole Foods in Memphis, Nashville, Chattanooga, Knoxville and Atlanta, and Cash Saver and Superlo in Memphis. Meanwhile, Angels and Tomboys was launched in 2016 by Ogunwale El’s nieces, Madison Star and Mallory Iyana, two sisters who gained national attention after striking a deal with Marc Cuban on ABC’s “Shark Tank.”
The two businesses will host a joint grand opening of their retail location on May 19.
– Patrick Lantrip