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Fred’s Inc., a pharmacy chain that has been headquartered in Memphis since the 1950s announced earlier this month that it is leaving Memphis and moving its corporate headquarters to Dallas, Texas. 

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Governor, Chamber announce Mimeo HQ move to Memphis

https://www.bizjournals.com/memphis/news/2018/11/19/sources-governor-chamber-to-announce-mimeo-hq-move.html

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Tennessee Gov. Bill Haslam and the Greater Memphis Chamber announced Monday that Mimeo.com's headquarters will relocate to Memphis.

MBJ first reported the nature of the announcement the morning of Monday, Nov. 19, based on conversations with people familiar with the matter.

The announcement represents an economic development victory for the city at a time when officials have been focused on how to improve the region's recruitment and retainment efforts. It also shows how Memphis' status as a distribution hub has helped attract other types of jobs.

Mimeo is a pioneer in on-demand digital printing, allowing businesses to print and deliver documents overnight. In May, it received a 15-year expansion PILOT (payment-in-lieu-of-taxes) from EDGE (the Economic Development Growth Engine for Memphis & Shelby County). As part of the PILOT, the company agreed to relocate its headquarters to Memphis in exchange for $2.5 million in tax breaks.

 

 

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Memphis made the 2019 places to go list for Frommer’s after Nashville made the 2017 list. It is good to see another Tennessee city get the travel spotlight besides just Nashville and Chattanooga!

https://www.google.co.uk/amp/s/wreg.com/2018/11/28/travel-guide-names-memphis-a-top-destination-for-2019/amp/

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Ag company Indigo is bringing up to 900 jobs to downtown Memphis, so says the Commercial Appeal.

Somebody needs to recruit International Paper to relocate and maybe Memphis will see some new skyscraper action downtown.

A longtime fantasy of mine would be to tear down Clark Tower on Poplar (ugly building in my opinion and a tower that size does not belong in East Memphis) and build a new one right in the center of downtown.

Edited by bnacincy
spellng
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Memphis is the Best Overall Destination for 2019 according to TripSavvy

Where to Go in 2019: Best Places to Travel

The site named Railgarten, the Pink Palace, The Memphis Zoo, Old Dominick, Hu Hotel and CMPLX as some of the top attractions in the city

1. Memphis,TN
2. Rapid City, South Dakota
3. San Antonio, Texas
4. Tokyo, Japan
5. Portland, Oregon
6. Los Angeles, California
7. Toronto, Canada
8. London, England
9. Atlanta, Georgia
10. Denver, Colorado

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https://dailymemphian.com/article/3835/Strong-2018-showing-adds-13500-jobs-in-Memphis-metro-area

 

Some other good news for the Mid South Area. Memphis has added a lot of new jobs recently which is definitely a positive for the area. Although there is still much work to be done I think that this report shows that Memphis has some momentum in the right direction. The whole state of Tennessee benefits when Nashville and Memphis both grow.

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Good to see! I just hope we see fewer of what I call "interstate exit" hotels in the downtown area. I'm talking about the short, parking-lot surrounded ones with little street activation.

Hotel boom continues in Downtown Memphis with more than 2,000 rooms planned

https://www.commercialappeal.com/story/money/business/development/2019/06/27/downtown-memphis-hotels-union-row-hotel-indigo-hilton-hyatt-centric-central-station-hotel/1523096001/

Some of those hotels include:

hotel1.jpg.585d94aa997815ae6a90ddb6213b56c9.jpg

Loews Memphis Hotel (Downtown)

hotel2.jpg.341b5d8014876d2811aac38571ffd80d.jpg

Hotel at The Clipper (Downtown)

hotel3.jpg.0a75ec13cd62177ef4d69266069110df.jpg

Union Row Hotel (Downtown)

hotel4.jpg.5d1853ace5dedf553b3fdd945aaed224.jpg

Beale Street Hotel (Downtown)

hotel5.jpg.e281d036cf23fb9ea2ada413472b50f4.jpg

Central Station Hotel (Downtown)

hotel6.jpg.63e40801ccc9ddd78cdb78a471a00b76.jpg

Moxy Hotel (Downtown)

hotel7.jpg.f4e3f9a02c1c43a64f871318e56971fd.jpg

DoubleTree expansion (Downtown)

hotel8.jpg.dc5aeb69405fd550821e7d6a5e376e76.jpg

The Memphian Hotel (Midtown/Overton Square)

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Good to see FedEx's continued commitment to and investment in Memphis!

FedEx announces $450 million investment in Memphis hub; total investment hits $1.5 billion

https://www.commercialappeal.com/story/money/industries/logistics/2019/08/02/fedex-memphis-world-hub-investment-memphis-airport/1892669001/

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FedEx is investing an additional $450 million into the FedEx Express World Hub in Memphis, company officials announced Friday.

The hub based at the Memphis International Airport is in the midst of a modernization plan announced in 2018 to pivot the hub more toward new technologies and automation. With the additional investment announced Friday, that plan will total $1.5 billion.

FedEx said the additional investment is because of “growing customer demand" in a news release. The project is expected to wrap up by 2025 “with significant job creation along the way,” according to the Tennessee Department of Economic & Community Development.

 

 

Edited by VSRJ
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I'm not sure what to make of this...not a good sign for the One Beale office tower.

Highwoods selling Memphis assets, leaving market

https://www.bizjournals.com/memphis/news/2019/08/22/highwoods-selling-memphis-assets-leaving-market.html

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Highwoods Properties is preparing to sell its Memphis assets, which include the Crescent Center, the three Triad Centre buildings, and nine other office buildings.

It will also end its attempt to develop an office tower as part of One Beale.

The cash from the sales will help finance the firm's $436 million purchase of the new Bank of America Tower in Charlotte.

According to the Shelby County Assessor of Property, Highwoods' properties have a combined appraised value of $225.6 million, MBJ estimated.

The publicly traded real estate firm said the "market rotation" will allow it to reduce its capital and operational expenditures and have a large stake in the high-growth city of Charlotte.

 

 

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It is never good news when one of the leading properties firms in the country decides to totally exit a market and put its resources elsewhere.

 Highwoods is a publicly traded real estate investment trust that owns and manages more than 30 million square feet of office space in markets including Atlanta, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa. Almost 70% of its net operating income in 2018 was from Atlanta, Nashville, Raleigh and Tampa.

For sure this is more bad news for the One Beale project that has already been scaled back from the original plan for two high-rise towers.   They will have to rethink the office part yet again.  What’s happening there today isn’t worthy of the prime riverfront site.   Another set back for the Carlisle Group.

Edited by dxfret
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5 hours ago, VSRJ said:

I'm not sure what to make of this...not a good sign for the One Beale office tower.

Highwoods selling Memphis assets, leaving market

https://www.bizjournals.com/memphis/news/2019/08/22/highwoods-selling-memphis-assets-leaving-market.html

 

I had always been skeptical about the Carlisles pursuing an office component to One Beale, but they can always find another investor. It's a setback for them, but with the rest of the project now going forward in terms of the hotel, residential, and retail portions, that part was probably the very least of their concerns over everything else they were trying to do.

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Memphis economy best in decades, economist says

https://dailymemphian.com/article/7522/memphis-economy-best-in-decades-economist-say

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The Memphis economy is as good as it's been for about four decades. 

So says prominent Memphis economist John Gnuschke, who with sponsor Paragon Bank unveiled the Outlook 2019 Memphis Economic Study.

“Things are looking good,” the director of the Sparks Bureau of Business and Economic Research at the University of Memphis told about 100 people gathered at Memphis Botanic Garden late Tuesday afternoon.

“If they are not looking good now, I can’t imagine when they would be,” he said, citing low unemployment, low interest rates and the upbeat responses from 776 people to the latest Memphis Consumer Sentiment Survey.

 

 

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Great news for Memphis and the Raleigh area!

Amazon — yes, it's Amazon — moves forward on huge Raleigh proposal

https://www.bizjournals.com/memphis/news/2019/09/26/amazon-yes-its-amazon-makes-progress-on-its-huge.html

19-90-applicationpage13.thumb.jpg.4628b95f322a9e4684c14cb90771b49a.jpg

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Seefried Industrial Properties received the blessing of the Memphis & Shelby County Board of Adjustment to build a five-story distribution center in Raleigh set to employ over 1,000 people.

Though it was not said at the meeting held Wednesday, Sept. 26, those people would be employed by Amazon.

Labels on the plans that were publicly released match labels on other Amazon projects, and plans that weren't made public but were obtained by the Memphis Business Journal bear the corporate giant's name.

 

 

Edited by VSRJ
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