Memphis *DO NOT USE*

North Carolina-based Tanger Factory Outlet Centers Inc. and Poag Shopping Centers, LCC will break ground for a new Tanger Outlets shopping center in Southaven, MS on March 13. Located just 4.5 miles from Memphis at the northeast quadrant of I-69/55 and Church Road, the outlet mall will be developed in two phases.

By Liviu Oltean, Associate Editor Ashford Hospitality Trust Inc. signed a definitive agreement to purchase the 232-room Memphis Marriott East Hotel for $43.5 million or $187,500 per room. According to an official statement, the acquisition price represents a trailing 12-month cap rate of 7.6 percent on net operating income. “This transaction was particularly attractive given […]

IKEA is on the brink of increasing its southeastern US presence seeing as it has recently unveiled tentative plans for the development of a new, 260,000-square-foot store in Memphis. Contingent on receiving all governmental approvals, the store could open as early as Fall 2016.

Tennessee Gov. Bill Haslam, Community Development Commissioner Bill Hagerty and Target Corporation just announced that Memphis has been chosen for the development of a new, 900,000-square-foot , online fulfillment center. Target will be investing almost $50 million in the new facility, which will bring more than 400 jobs in Shelby County. The new facility, which has been slated to be operational by mid-2015, will be managed by Innotrac and will service the Southeast United States. Hiring is set to begin early 2015.

By Liviu Oltean, Associate Editor The Germantown Planning Commission unanimously approved on Dec. 2 the development of a new 60-bed psychiatric hospital. The hospital will be located on an 18.9-acre tract of land 0.2 miles south of the intersection of Crestwyn Hills Drive and Winchester Road. Dubbed Crestwyn Behavioral Health, the new hospital is the […]

Hillwood Investment Properties officially announced its plan to develop a Class A business park in Olive Branch, MS. The project, dubbed Legacy Park, has the potential of bringing between 850 and 3,000 new jobs to the Memphis metropolitan area.

A long-awaited renovation project started this Monday as a construction crew began work on the Harahan Bridge. The $28.6 million renovation of the bridge is part of the Main to Main Multi-Modal Connector Project, which also includes extensive work in Memphis and West Memphis.

Downtown Memphis Commission’s agenda is filling up seeing as they will have to decide on the 11th of November on two new PILOTs. Filament, LLC, the real estate arm of architecture firm Archimania applied for a PILOT for the development of a new, mixed-use project at 705 S. Main Street, while Cendown, a limited partnership with an entity controlled by former CBRE Memphis CEO, Earl Blankenship, applied for a PILOT for the redevelopment of three buildings at 77-91 South Second Street.

Main Street Apartment Partners, LLC, the developers behind the Hotel Chisca project, will present on the 5th of November a proposal for the development of a parking lot to the Downtown Memphis Commission. If approved, the parking lot will occupy a currently vacant lot, just east of the Hotel Chisca. The site is bounded by Dr. M. L. King Jr. Avenue to the north; Second Street to the east; Pontotoc Avenue to the south; and Mulberry Street to the west.

Cushman & Wakefield recently made public that they brokered the acquisition of Memphis’ Horizon, a 16-story, 155-unit high-rise that has remained unfinished for more than six years due to the financial crisis of 2008.