ECONOMIC OVERVIEW

REAL ESTATE

The Memphis News: Q1 Economic OverviewA quick look at key economic indicators from a range of industries, including real estate, fi nance and transportation

*Data include all sales and permits in Shelby County. Source: Chandler Reports, chandlerreports.com

LOGISTICS, TRANSPORTATION AND MANUFACTURING

Source: Memphis-Shelby County Airport Authority

Memphis International AirportTotal Passengers (enplaned and deplaned)

Total Cargo Handled (lbs.)

Freight Transportation Services IndexPurchasing Managers Index

A PMI reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent that it is generally declining. Source: Institute for Supply Management

*Most recent fi gure available. The Transportation Services Index (TSI) is a measure of the month-to-month changes in the output of services provided by the for-hire transportation industries. Source: Bureau of Transportation Statistics

FIVE BIG DEALS

1. Sedgwick Planning $34M ExpansionMemphis-based Sedgwick Claims Management announced a $34 million relocation and expansion of its corporate headquarters. The company, which currently operates out of two locations – 90,000 square feet at 1100 Ridgeway Loop Blvd. and 80,000 square feet at 2620 Thousand Oaks Blvd. – was awarded a $10.4 million tax incentive to consolidate into a 245,808-square-foot facility at 8155 T&B Blvd., the current headquarters of Thomas & Betts Corp.

2. ‘Town Center’ Plan Could Bring Retail, Theater, More to GermantownThe developers behind a proposed 32-acre mixed-use develop-ment west of Saddle Creek want to create a walkable “town cen-ter” environment in Germantown by adding 254,500 square feet of retail space, including a 40,000-square-foot theater; 56,400 square feet of o� ce space; a 130-room hotel; 302 apartments; and 2,031 parking spaces. Scott Taylor, president and CEO of Carter USA, billed the development as a regional attraction that would keep entertainment dollars in Germantown and also draw in visitors from the rest of Shelby County and North Mississippi.

3. SouthernSun to Overhaul, Move Into Hickman Building DowntownSouthernSun Asset Management unveiled a $16 million plan to turn the nine-story Hickman Building, 240 Madison Ave., into a mixed-use project that houses the Memphis-based investment fi rm's headquarters, plus 40 apartments, 5,000 square feet of retail and a connected parking structure. Formerly known as the Medical Arts Building, the structure has been dormant since 1971.

4. MRG Proposes Apartments Near Edge Of Overton ParkA nearly century-old neighborhood that was torn in two when Interstate 40 came crashing to a halt at the doorstep of Over-ton Park is again on the precipice of change. Overton Gateway, Makowsky Ringel Greenberg’s proposed multifamily development at Sam Cooper Boulevard and East Parkway, tentatively calls for seven, fi ve-story multifamily buildings – two on the north side of Sam Cooper and fi ve on the larger parcel south of Sam Cooper.

5. Bally’s, Resorts Tunica Sell for $44MPenn National Gaming Inc. entered into a agreement to buy RIH Acquisitions MS I LLC and RIH Acquisitions MS II LLC, the holding companies for Bally’s Casino Tunica and Resorts Casino Tunica – for roughly $44 million in cash. The transaction still has to be ap-proved by the Mississippi Gaming Commission. Once the deal is complete, Penn will operate Bally’s and Resorts Tunica and lease the underlying property from Gaming and Leisure Properties Inc.

Commercial Sales: Number and total volume* Residential Sales: Number and average price* New Home Permits: Number and average price*

2583,882

209

Memphis MSA Unemployment RateMemphis MSA Total Nonfarm Employment

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WALL STREET

Stock prices from six Memphis-based public companies*

*Most recent fi gures available*Most recent fi gures available

5.2%

641,900

Stock prices from six companies with large local presence*

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