Lease Accounting Changes

There is a most likely huge, huge change about to occur in the way real estate leases are treated from an accounting perspective. It is a game changer being considered for implementation in 2012 and there will be no 'grandfathering' of existing leases. Click Here to review the Business Briefing-Special Edition from Cushman & Wakefield for more detailed insights.

Commercial Advisors Represents Smith & Nephew in the Purchase of its New Orthopaedics HDQ

Commercial Advisors, LLC is proud to announce that it represented Smith & Nephew (S&N) in the purchase of its new orthopaedics headquarters at 7216 Goodlett Farms Parkway in Memphis, Tennessee. The 285,315 square foot building was previously owned by Harrah’s Entertainment and also includes 31 acres of land.
The new headquarters is located in the Goodlett Farms Office Corridor at I-40 and Whitten Rd in the Northeast Office Submarket. This area has seen a large amount of activity in the past year as many corporations have taken note of its central location and close proximity to residential and retail areas. S&N will soon be neighboring such companies as Hunter Fan, Stratus Foods, Accredo, FedEx and Regions Bank.
Smith & Nephew’s new facility will allow it to expand its orthopaedics headquarters in the region and in turn create 160 new jobs for the area. S&N already employs more than 2,000 people in Shelby County and received a $6.2 million, 15-year payment-in-lieu-of-taxes agreement from the Memphis and Shelby County IDB for the new location.
The Commercial Advisors team was lead by CA President & CEO, Larry Jensen, and Senior Vice President Kemp Conrad. S&N will expand its current campus on Brooks Road and is expected to move into the new space in August 2010.

Larry Jensen to Speak at the 2010 Commercial Property Forecast Summit

Commercial Advisors' President and CEO Larry Jensen will be a featured speaker this year at the annual Memphis Area Association of Realtors Commercial Property Forecast Summit. The event will be held Wednesday, February 17, 2010 at the Germantown Performing Arts Center. Guest speakers will be giving their perspectives on economic and market trends affecting commercial real estate both locally and nationally.

For his part, Jensen will be speaking about positives for the future of Memphis Commercial Real Estate. In an interview about the summit, he is quoted as saying, "You play the best you can with the cards you're dealt. A lot of Memphis' cards are terrific, he said, including: New leadership in Mayor A C Wharton; the city's emerging aerotropolis and world-class airport; the city's five major railroads; and growing bioworks industry."

Click here to read the Commercial Appeal article in its entirety. To learn more about the summit, click here.

Cheri Gets the Cheese!

Congratulations to Cheri Benoit, Assistant Client Services, on receiving Commercial Advisors' quarterly Cheesehead Award. The award is given to the employee who goes above and beyond their job description to help their coworkers. Cheri also received the Cheesehead of the Year! Way to go!

Introducing Jeff Barry

Commercial Advisors is pleased to introduce Jeff Barry, who has joined our firm as Senior Vice President. Jeff brings with him extensive experience inthe acquisition, development and disposition of land in the Mid-South.