Downtown Memphis News & Developments (CBD, South Main, Riverfront, Medical District, The Edge, Uptown)

[James Owen]

58 minutes ago, MDC26 said:

New coffee shop opening downtown in space at Tennessee brewery parking garage. Doesn’t look like this space has ever been occupied. 

https://dailymemphian.com/section/neighborhoods/article/37853/memphis-coffee-shop-downtown-midsouth-coffee-and-tea-co

That garage was recently built a few years ago when the Orgels added additional residential to compliment the Tennessee Brewery redevelopment.

The space highlighted in the article is in a rather awkward spot.

[MDC26]

46 minutes ago, James Owen said:

That garage was recently built a few years ago when the Orgels added additional residential to compliment the Tennessee Brewery redevelopment.

The space highlighted in the article is in a rather awkward spot.

The garage was completed in ‘17. Yes, it is an awkward spot. It does seem that the parking garage retail spaces take awhile to get filled. All the spaces in the Peabody Place garage took 25 years or so to fully lease when Havana Mix Cigar lounge expanded. Don’t know if the Westin garage spaces have ever been fully leased either. 

[James Owen]

1 hour ago, MDC26 said:

The garage was completed in ‘17. Yes, it is an awkward spot. It does seem that the parking garage retail spaces take awhile to get filled. All the spaces in the Peabody Place garage took 25 years or so to fully lease when Havana Mix Cigar lounge expanded. Don’t know if the Westin garage spaces have ever been fully leased either. 

They recently added a tenant to the former Ground Zero space at the garage you mentioned, but still have one space there that hasn't been filled yet.

[Memphis4ever]

On 8/14/2023 at 8:45 PM, MDC26 said:

The garage was completed in ‘17. Yes, it is an awkward spot. It does seem that the parking garage retail spaces take awhile to get filled. All the spaces in the Peabody Place garage took 25 years or so to fully lease when Havana Mix Cigar lounge expanded. Don’t know if the Westin garage spaces have ever been fully leased either. 

Actually the westin garage will be full atomic rose has filled the corner space and rapper 2 chains is opening ESCO in the space in the middle that has been empty for the longest so the garage will be full.  

[MDC26]

13 minutes ago, Memphis4ever said:

Actually the westin garage will be full atomic rose has filled the corner space and rapper 2 chains is opening ESCO in the space in the middle that has been empty for the longest so the garage will be full.  

Good news that the parking structure retail spaces have filled up.  Will need to fill up the mobility center retail spaces when those become operational and there will be a need for more retail spaces.  

[VSRJ]

On 8/4/2023 at 2:21 PM, James Owen said:

An official opening date for the long-awaited (and often delayed) Aloft on BB King & Jefferson - extensive renovation/conversion of the old Tenoke Building - has been revealed. The hotel is now slated to open in late October according to the Marriott website.

More info: https://www.bizjournals.com/memphis/news/2023/08/17/aloft-hotel-expected-to-open-fall-jefferson.html

[The Guardian of Memphis]

Great. Now tear down the structure next to it and put a high rise there. That whole block could use development - the hotel patrons need amenities next to it. Wish 201 wasn't so close.

[Nothingspectacular]

13 hours ago, The Guardian of Memphis said:

Great. Now tear down the structure next to it and put a high rise there. That whole block could use development - the hotel patrons need amenities next to it. Wish 201 wasn't so close.

Not only this block, but most all of downtown Memphis drastically needs development. Doubtful a high rise as Memphis has always been a low rise city.  

[MDC26]

20 hours ago, The Guardian of Memphis said:

Great. Now tear down the structure next to it and put a high rise there. That whole block could use development - the hotel patrons need amenities next to it. Wish 201 wasn't so close.

I think Jefferson Plaza is a solid 12-story building.  Unfortunately, it's office and there's not much need for it.  I wish that 100 N Main would just be hotel and residential with no office, and the office use they have planned there could go to Jefferson Plaza if it would be renovated.

If you wanted a high rise, it could go at the empty lot between Jefferson Plaza and 44 N 2nd, that used to be a parking structure.  

[VSRJ]

4 hours ago, MDC26 said:

I think Jefferson Plaza is a solid 12-story building.  Unfortunately, it's office and there's not much need for it.  I wish that 100 N Main would just be hotel and residential with no office, and the office use they have planned there could go to Jefferson Plaza if it would be renovated.

If you wanted a high rise, it could go at the empty lot between Jefferson Plaza and 44 N 2nd, that used to be a parking structure.  

Agreed — I would love to see it repurposed and brought back to life. Not sure office is feasible, but you never know...

[The Guardian of Memphis]

8 hours ago, MDC26 said:

I think Jefferson Plaza is a solid 12-story building.  Unfortunately, it's office and there's not much need for it.  I wish that 100 N Main would just be hotel and residential with no office, and the office use they have planned there could go to Jefferson Plaza if it would be renovated.

If you wanted a high rise, it could go at the empty lot between Jefferson Plaza and 44 N 2nd, that used to be a parking structure.  

I agree, but since Jefferson Plaza can't be office, the only option is residential, and may not fit with a new structure that will and should go in the empty spot next to it. I was thinking the whole block can be like a smaller version of the Walk.

[MDC26]

Dream Hotel has filed for construction permit. I land to break ground in the next few months. Hope this is true. 
 

 

https://www.bizjournals.com/memphis/news/2023/08/23/dream-hotel-files-for-75m-construction-permit.html

 

 

Edited August 24, 2023 by MDC26

[James Owen]

There's news today in the Memphis Business Journal that the current owners of the vacant Commercial Appeal property on Union are looking to market the office and warehouse portions separately.

Owner of former Commercial Appeal building seeks subdivision to sell for possible redevelopment

By Stephen MacLeod – Reporter, Memphis Business Journal

https://www.bizjournals.com/memphis/news/2023/08/23/495-union-office-warehouse-commercial-appeal.html

The marketing brochure for the warehouse portion suggests the owners want to turn it into mixed-use with retail space on the ground floor: https://listingsprod.blob.core.windows.net/ourlistings-usa/ef07e1b6-7463-4cdc-a3f4-31312229f9c1/22417b3e-fbe6-4c2e-9a0b-f14147afe11c

With all due respect, if they're going to subdivide the land, the eastern portion would be an ideal location to place a new soccer stadium for 901 FC - as opposed to building at the old Fairgrounds/Liberty Park - while the western portion could be utilized as mixed-use to compliment all the surrounding developments planned nearby in the Edge District.

[Memphisborn]

5 hours ago, James Owen said:

There's news today in the Memphis Business Journal that the current owners of the vacant Commercial Appeal property on Union are looking to market the office and warehouse portions separately.

Owner of former Commercial Appeal building seeks subdivision to sell for possible redevelopment

By Stephen MacLeod – Reporter, Memphis Business Journal

https://www.bizjournals.com/memphis/news/2023/08/23/495-union-office-warehouse-commercial-appeal.html

The marketing brochure for the warehouse portion suggests the owners want to turn it into mixed-use with retail space on the ground floor: https://listingsprod.blob.core.windows.net/ourlistings-usa/ef07e1b6-7463-4cdc-a3f4-31312229f9c1/22417b3e-fbe6-4c2e-9a0b-f14147afe11c

With all due respect, if they're going to subdivide the land, the eastern portion would be an ideal location to place a new soccer stadium for 901 FC - as opposed to building at the old Fairgrounds/Liberty Park - while the western portion could be utilized as mixed-use to compliment all the surrounding developments planned nearby in the Edge District.

Agreed on the soccer stadium being built on the Eastern portion. The 901 fc Group should take a closer look @ this site. Close proximity to Ravine, Memphis Made, High cotton brewery and close in proximity to the proposed Walk on union with residential and hotels. 901 fc stadium would be a great addition to the edge district. 

[MDC26]

6 hours ago, James Owen said:

There's news today in the Memphis Business Journal that the current owners of the vacant Commercial Appeal property on Union are looking to market the office and warehouse portions separately.

Owner of former Commercial Appeal building seeks subdivision to sell for possible redevelopment

By Stephen MacLeod – Reporter, Memphis Business Journal

https://www.bizjournals.com/memphis/news/2023/08/23/495-union-office-warehouse-commercial-appeal.html

The marketing brochure for the warehouse portion suggests the owners want to turn it into mixed-use with retail space on the ground floor: https://listingsprod.blob.core.windows.net/ourlistings-usa/ef07e1b6-7463-4cdc-a3f4-31312229f9c1/22417b3e-fbe6-4c2e-9a0b-f14147afe11c

With all due respect, if they're going to subdivide the land, the eastern portion would be an ideal location to place a new soccer stadium for 901 FC - as opposed to building at the old Fairgrounds/Liberty Park - while the western portion could be utilized as mixed-use to compliment all the surrounding developments planned nearby in the Edge District.

Looks like the price has dropped too.  I think they were wanting around $20 million total, previously.  Now the two properties total $8.4 million.  

[Memphisborn]

3 hours ago, MDC26 said:

Looks like the price has dropped too.  I think they were wanting around $20 million total, previously.  Now the two properties total $8.4 million.  

Yes they have dropped price. It would be a great time for 901 fc to look @ this possibility on the eastern side. It would be a amazing atmosphere for a soccer stadium. 

[JTM1]

14 hours ago, James Owen said:

There's news today in the Memphis Business Journal that the current owners of the vacant Commercial Appeal property on Union are looking to market the office and warehouse portions separately.

Owner of former Commercial Appeal building seeks subdivision to sell for possible redevelopment

By Stephen MacLeod – Reporter, Memphis Business Journal

https://www.bizjournals.com/memphis/news/2023/08/23/495-union-office-warehouse-commercial-appeal.html

The marketing brochure for the warehouse portion suggests the owners want to turn it into mixed-use with retail space on the ground floor: https://listingsprod.blob.core.windows.net/ourlistings-usa/ef07e1b6-7463-4cdc-a3f4-31312229f9c1/22417b3e-fbe6-4c2e-9a0b-f14147afe11c

With all due respect, if they're going to subdivide the land, the eastern portion would be an ideal location to place a new soccer stadium for 901 FC - as opposed to building at the old Fairgrounds/Liberty Park - while the western portion could be utilized as mixed-use to compliment all the surrounding developments planned nearby in the Edge District.

The city or dmc should immediately buy it because they have the capital to do it. If Gannett had given some locals the opportunity to buy it, dirt would be moving.

I think the CA property should be developed into a mixed use similar Crosstown Concourse that includes entertainment, lodging, residential, institutional, curating, and a performing arts center on the campus. I can even imagine a bilingual radio station/music studio located within the development.  

I wouldn’t add any food, because a food district could be created on Union, and you can link Madison and Monroe to it.

I had a look at this property when they set up the makeshift hospital, during the pandemic, and it has the potential to be a premier location. I was at slim and husky’s some time back and there’s been some activity at this location, because I saw workers going in the building.

[Memphisborn]

16 hours ago, JTM1 said:

The city or dmc should immediately buy it because they have the capital to do it. If Gannett had given some locals the opportunity to buy it, dirt would be moving.

I think the CA property should be developed into a mixed use similar Crosstown Concourse that includes entertainment, lodging, residential, institutional, curating, and a performing arts center on the campus. I can even imagine a bilingual radio station/music studio located within the development.  

I wouldn’t add any food, because a food district could be created on Union, and you can link Madison and Monroe to it.

I had a look at this property when they set up the makeshift hospital, during the pandemic, and it has the potential to be a premier location. I was at slim and husky’s some time back and there’s been some activity at this location, because I saw workers going in the building.

Can U or someone copy and paste the MBJ article ??? every one is not a paid subscriber 

[MDC26]

Tom Intrator's property at 17 S. Main, in which he has rennovated, has announced a tennant.  

A Michelin Guide award winning restaurant, will be opening it's second restaurant there - Forsythia (an Italian restaurant.)

They will also open a bistro, coffee shop, and bar at this location as well.

https://www.bizjournals.com/memphis/news/2023/08/24/forsythia-michelin-guide-restaurant-jacob-siwak.html

https://www.forsythianyc.com/

[JTM1]

4 hours ago, Memphisborn said:

Can U or someone copy and paste the MBJ article ??? every one is not a paid subscriber 

Here you go. 

The former home of the Commercial Appeal could be split into two lots in order to allow the property's warehouse and former office space to be marketed separately, according to filings with the Memphis and Shelby County Division of Planning and Development (DPD).

If the plan is approved, 495 Union Ave. would be subdivided, with the property line along the common wall between the warehouse and office building and extending north to Union. One of the newly formed lots would include about 3 acres of land and the five-story office building that for decades was the daily newspaper's home. The other, 4.1-acre lot contains the industrial facility that held printing and other production operations.

The site was the home of the Commercial Appeal from 1933 to 2019. The current buildings opened in the 1970s and, at the height of the paper's long run there, housed 1,500 employees. The newspaper was no longer printed on-site beginning in 2016.

It appears that the property owner — an LLC controlled by Connecticut-based real estate investment and management firm Twenty Lake Holdings — intends to sell the subdivided lots.

"The owner is proposing the subdivision to separate the warehouse and office building to market as separate entities," according to a letter of intent included in the filing.

A representative at Twenty Lake Holdings declined to comment.

Twenty Lake bought the property at 495 Union from Commercial Appeal parent company Gannett in 2018 for $2.8 million. Twenty Lake also bought an adjacent property, at 597 Beale Street, from Gannett for $1 million. Twenty Lake is a subsidiary of prominent New York City-based hedge fund Alden Global Capital. Another Alden subsidiary, Digital First Media, was unsuccessful in its bid to acquire Gannett in 2019.

Without being subdivided, 495 Union is a 7-acre property, according to the plat filed with the DPD. The Shelby County Assessor of Property appraised the land at $2.12 million. The combined 280,000 square-foot building — including both the office and industrial spaces — is valued at $4.79 million. 

The warehouse portion of the site, with the 151,000-square-foot industrial building, is already being marketed by Colliers International for $3.5 million, according to the firm's website. Marketing materials propose an opportunity for a four-story, mixed-use building with up to 258 parking spaces on that parcel. Rendering options presented depict ground-floor retail.

Colliers is also advertising the property with the existing five-story, 129,000-square-foot office building for $4.9 million. Both listings already feature the new subdivision property line.

[East Side Urbanite]

On 8/24/2023 at 12:03 AM, MDC26 said:

Dream Hotel has filed for construction permit. I land to break ground in the next few months. Hope this is true. 
 

 

https://www.bizjournals.com/memphis/news/2023/08/23/dream-hotel-files-for-75m-construction-permit.html

 

 

 

A distinctive building. I hope it happens.

[Memphisborn]

4 hours ago, JTM1 said:

Here you go. 

The former home of the Commercial Appeal could be split into two lots in order to allow the property's warehouse and former office space to be marketed separately, according to filings with the Memphis and Shelby County Division of Planning and Development (DPD).

If the plan is approved, 495 Union Ave. would be subdivided, with the property line along the common wall between the warehouse and office building and extending north to Union. One of the newly formed lots would include about 3 acres of land and the five-story office building that for decades was the daily newspaper's home. The other, 4.1-acre lot contains the industrial facility that held printing and other production operations.

The site was the home of the Commercial Appeal from 1933 to 2019. The current buildings opened in the 1970s and, at the height of the paper's long run there, housed 1,500 employees. The newspaper was no longer printed on-site beginning in 2016.

It appears that the property owner — an LLC controlled by Connecticut-based real estate investment and management firm Twenty Lake Holdings — intends to sell the subdivided lots.

"The owner is proposing the subdivision to separate the warehouse and office building to market as separate entities," according to a letter of intent included in the filing.

A representative at Twenty Lake Holdings declined to comment.

Twenty Lake bought the property at 495 Union from Commercial Appeal parent company Gannett in 2018 for $2.8 million. Twenty Lake also bought an adjacent property, at 597 Beale Street, from Gannett for $1 million. Twenty Lake is a subsidiary of prominent New York City-based hedge fund Alden Global Capital. Another Alden subsidiary, Digital First Media, was unsuccessful in its bid to acquire Gannett in 2019.

Without being subdivided, 495 Union is a 7-acre property, according to the plat filed with the DPD. The Shelby County Assessor of Property appraised the land at $2.12 million. The combined 280,000 square-foot building — including both the office and industrial spaces — is valued at $4.79 million. 

The warehouse portion of the site, with the 151,000-square-foot industrial building, is already being marketed by Colliers International for $3.5 million, according to the firm's website. Marketing materials propose an opportunity for a four-story, mixed-use building with up to 258 parking spaces on that parcel. Rendering options presented depict ground-floor retail.

Colliers is also advertising the property with the existing five-story, 129,000-square-foot office building for $4.9 million. Both listings already feature the new subdivision property line.

Thanks 

[Memphis4ever]

The Oliver

Brooks Museum

[Memphis4ever]

Mobility center 

 

[VSRJ]

I drove past the Mobility Center last night - photos don't do it justice. It's a beautiful building. I hope they can find tenants for the retail bays. That would make for a great link between the South Main mall and the Orpheum.