Developers Closely Watch Germantown’s Plans for Golf Course

The Daily Memphian

By Tom Bailey

January 25, 2019

A cyclist cruises down the entry drive to Germantown Country Club during his routine 10 mile route. Residents of the neighborhoods surrounding the golf course frequently bike or walk through the courses golf cart paths. (Houston Cofield/Daily Memphian)

The venerable Boyle Investment Co. is among the development companies closely watching what Germantown and the property owners want to do with Germantown Country Club’s 180 acres.

So is Kevin Hyneman Cos., which has transitioned over the years from building starter homes by the hundreds to subdivisions of $1 million-plus houses around Nashville.

Some developers are watching to see if club members might buy and maintain the golf course, or to see if the city will purchase it for a public park.

If those things don’t happen, developers will watch to see which real estate broker markets the property and what the timetable and process for a sale would be.

And even if the property is offered for housing, some developers will take Germantown’s temperature before diving in. The suburb has proven to be difficult – or cautious – toward developers who propose new things, whether they be apartments, high density or in this possible scenario, changing a golf course into high-end housing.

“I would pursue this with extreme caution,’’ Hyneman said Friday. “Right now, Germantown is a very difficult environment to be a developer out there. … The environment there is volatile and emotions are so high, it will run some people off that normally have an interest.”

Boyle Investment Co.

Whether the 86-year-old company becomes involved in any redevelopment or not, Boyle has a point of view that no other firm could possibly have: Boyle developed Germantown Country Club (then called Farmington Country Club) and the surrounding residential neighborhoods from agricultural fields a half-century ago.

“It was the first thing I worked on in 1968 or ’69 when I came to work at Boyle,’’ said Russell Bloodworth Jr., now an executive vice president. “I worked on one of the golf pavilions.”

The family trust that owns the 18-hole course with clubhouse, tennis courts and a swimming pool announced the club will close Feb. 28.

Germantown Mayor Mike Palazzolo has said the city will study the possibility of buying the property for a park. A parks master plan steering committee will meet about the issue Feb. 9 to make a recommendation.

TOM BAILEY: Germantown starts study of possible golf course purchase

Otherwise, Palazzolo has said he would oppose the property being rezoned for commercial uses. The site has underlying, residential zoning for lots that are at least 15,000 square feet.

Boyle Investment Co. has a large portfolio of high-end commercial, office and residential developments.

“We are certainly interested in particularly larger parcels that are well-located,” Bloodworth said. “We would be interested if that was in the best interest of Germantown and the surrounding residents; that would be key.”

Boyle has been “watching the situation to some degree” since club members were informed of plans to close.

“If it did not become a park or continue as a golf enterprise and was to be developed for a different use, I would assume the use would need to be residential,” Bloodworth said. “And the mayor was clear that was his perspective as well.”

The Germantown Country Club is under new management with possible development plans for the golf course which may include a new neighborhood community. (Houston Cofield/Daily Memphian)” src=”https://www.boyle.com/api/image/5503/740″ border=”0″ data-largeheight=”2182″ data-largewidth=”3000″ data-large=”/api/image/5503/960″>

The Germantown Country Club is under new management with possible development plans for the golf course which may include a new neighborhood community. (Houston Cofield/Daily Memphian)

The property bounded by Farmington to the south, Kimbrough to the west and Wolf River Boulevard to the north has rolling hills and mature pines and oaks.

“It could be terrific” for development of new houses, Bloodworth said. “It does have some challenges because you have got to be really thoughtful about all the adjoining homeowners if you did do any development.

“I’ll be happy if it remains open space and will be happy if it’s well and beautifully developed, but won’t be if it’s not.”

Bloodworth has weighty credentials. A graduate of the University of Virginia who studied environmental design at Yale, he received a lifetime achievement award from the Lambda Alpha real estate fraternity in 2010, was inducted into the Commercial Real Estate Hall of Fame by the Memphis Area Association of Realtors in 2009, and is a past president of the Memphis chapter of the Urban Land Institute.

He describes the theme running through Boyle’s residential developments as “great attention to the natural landscape and the environment.’’ The company also imposes some architectural control that raises the quality of the house designs in its developments, he said.

“All of those things need to be employed no matter who does it at the Farmington community, if the city mothers and fathers decide they are open to actually having it developed.”

Among the leafy, residential developments Bloodworth and Boyle have built over the decades are: additions to River Oaks such as The Cloisters and Gardens of River Oaks, and Green Shadows and Blue Heron, all in East Memphis; Schilling Farms and Spring Creek Ranch in Collierville; and The Pinnacle and Allelon, both in Germantown.

A residential redevelopment at the golf course could be special, Bloodworth indicated.

“The main thing that would make a wonderful development to me is the small pockets … small clusters of houses and open space where you’d need buffering between existing homes and what is now the course.”

Kevin Hyneman Cos.

Hyneman has done the rough assessment and math, which shows a residential redevelopment of the golf course could work financially, he said.

Only about half the acreage is buildable because of flood-prone areas, meaning about 150 houses could be built, he estimated.

Like Bloodworth, Hyneman said he would be happy if club members bought and kept the course open or the city bought it for a park.

“It’s an emotional piece of property for the city, citizens and a lot of people that hate to see it be developed for residential development. I think it’s highly likely the city will be able to put together a deal,” Hyneman said.

But if that doesn’t happen, “we’d be bidding on the property,” he said.

It’s challenging these days for a private golf course to succeed. Owners of the semi-private Stonebridge Golf Course have defaulted on their loan and the Lakeland course is scheduled to be sold to the highest bidder on the courthouse steps next month. Colonial Country Club has closed one of its two courses with plans to redevelop it.

“It’s just hard for a club to make money these days,” Hyneman said. “You’ve got deferred maintenance, you can’t continue to increase the dues and maintain the club.”

Hyneman’s rough calculations for redeveloping the site include estimating the cost for asphalt, curbs and gutters, grading, drainage work, and amenities like walls and a possible pool.

To absorb the costs and make a profit, he said, “you’re looking at million-dollar houses.”

Build out would likely take 10 years, he said. “You’ve got to put forth the time and effort to manage the elevations (exterior appearance of the houses), the streetscape, and maintain. It’s not something you develop, sell the lots and walk away.”

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The Daily Memphian By Tom Bailey January 25, 2019 A cyclist cruises down the entry drive to Germantown Country Club during his routine 10 mile route. Residents of the neighborhoods surrounding the golf course frequently bike or walk through the courses golf cart paths. (Houston Cofield/Daily Memphian) The venerable Boyle Investment Co. is among the […]

Boyle Investment Co. Celebrating 85th Year

Memphis Daily News

March 25, 2018

Boyle Investment Co. celebrated its 85th anniversary with a luncheon on Friday, March 23, for its 113 employees on the top floor of its new Class A office building at 949 S. Shady Grove Road.

That new office building also marks the complete build-out of the Ridgeway Center, a 204-acre mixed-use development launched in the early 1970s in East Memphis.

Boyle is one of Memphis’ oldest real estate development, sales, leasing and management firms.

The two largest mixed-use developments of Boyle’s are Ridgeway Center and Schilling Farms, which as been under development in Collierville for 20 years as of 2018.

The 443-acre Schilling Farms community features newly completed projects such as a 50,000-square-foot ‘Class A’ office building, the second phase of The Carrington multifamily project, and a 9,000-square-foot retail center. Schilling Farms has become a popular site for corporate headquarters in recent years – it is home to Helena Chemical Corp. and Mueller Industries Inc. is constructing its new corporate headquarters there.

Boyle made its first foray outside the Memphis market in 2001, opening an office in Nashville, where it has grown from two employees to 30. Boyle Nashville LLC and their joint venture partners have acquired, developed and manage more than 3.2 million square feet of commercial space, and have more than 532,000 square feet of commercial space under construction.

Since its founding in 1933, Boyle remains family owned with the third generation now involved in management. The company is led by Henry Morgan, co-chairman, and Paul Boyle, president. Other family members include Bayard Boyle Jr., co-chairman, and executive vice presidents Henry Morgan Jr. and Bayard Morgan.

Boyle also has 31 employees who have been with the company for more than 20 years, including Mark Halperin (45 years), Joel Fulmer (46 years) and Russell E. Bloodworth Jr. (49 years).

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Boyle Investment Company Celebrates 85th Anniversary; Marks Significant Milestones in Memphis and Nashville

MEMPHIS, Tenn., March 23, 2018 – This year marks the 85th anniversary of Boyle Investment Company, one of Memphis’ oldest real estate development, sales, leasing and management firms.  To celebrate, the company is hosting a luncheon on March 23 for its 113 employees on the top floor of its new ‘Class A’ office building at 949 S. Shady Grove.

The 85th anniversary marks the achievement of significant milestones at two of Boyle’s largest projects in the Memphis region: Ridgeway Center and Schilling Farms.  In the fourth quarter of 2017, Boyle celebrated the grand opening of 949 Shady Grove, a new ‘Class A’ office building on the last remaining site in Ridgeway Center office park, marking final completion of the 204-acre mixed-use development launched in the early 1970s in East Memphis.  Also, this year marks the 20th anniversary of Boyle’s 443-acre Schilling Farms community in Collierville, where newly completed projects include a 50,000-square-foot ‘Class A’ office building, the second phase of The Carrington multi-family project, and a 9,000-square-foot retail center.

Boyle also celebrates significant milestones in the Nashville region, where in 2001 the company opened an office which has grown from two employees to 30 employees today. Under the direction of Phil Fawcett and Jeff Haynes, Boyle Nashville, LLC and their joint venture partners have acquired, developed and manage more than 3.2 million square feet of commercial space, and have more than 532,000 square feet of commercial space under construction.  Large-scale projects in Nashville include Capitol View, which will offer 1.1 million square feet of ‘Class A’ office space, 130,000 square feet of specialty retail/restaurant space, 378 luxury apartments, a Hampton Inn & Suites, a 2.5 acre urban activity park, and a jogging/biking trail connected to Nashville’s greenway system.  The last two years have brought explosive growth at Berry Farms in Franklin, with four major headquarters announcements at the 600-acre mixed-use project, which also includes a town center and a variety of residential communities.  Construction is underway on McEwen Northside, a 45-acre development in Cool Springs that offers fully integrated office, retail, residential and green spaces.  Boyle’s Nashville office is located at the company’s own 60-acre Meridian Cool Springs development, which offers more than 900,000 square feet of office and 90,000 square feet of retail space.

Since its founding in 1933, Boyle remains family owned with the third generation now involved in management. The company is led by Henry Morgan, Co-Chairman, and Paul Boyle, President. Other family members include Bayard Boyle, Jr., Co-Chairman, and Executive Vice Presidents Henry Morgan, Jr. and Bayard Morgan.

One of the company’s greatest assets is its “deep bench” of experts – longtime employees who have stayed with the company for years. Boyle has 31 employees who have been with the company for more than 20 years.  Their expertise and long-term involvement with the company have been a great plus.  Three non-family members have been with the company for more than 40 years:  Mark Halperin, 45 years; Joel Fulmer, 46 years; and Russell E. Bloodworth, Jr., 49 years.

Over the years, Boyle has made a profound impact on the city of Memphis.  A Boyle family ancestor, John Overton, founded Memphis in 1819 in partnership with Andrew Jackson.  In the early 1900s, Edward Boyle developed stately Belvedere Boulevard in Midtown.   Boyle Investment Company was founded in 1933 by three of Edward Boyle’s sons – Snowden, Charles and J. Bayard, Sr.   The 1960s saw the development of River Oaks and Farmington. In the 1970s, Boyle paved the way for the city’s growth eastward with one of Memphis’ first office parks, Ridgeway Center, which today offers more than 2 million square feet of space.  In the 1980s, Boyle began development of Humphreys Center, which has become East Memphis’ bustling medical/office center.  The 1990s saw the development of even more ambitious projects such as the 443-acre Schilling Farms community in Collierville.  The company also developed numerous retail centers in the Memphis area during this period, including Regalia, Shops of Humphreys Center, Shops of Forest Hill, and Gallina Centro, as well as Preston Shepard Place and Southwest Crossing in Texas.   Boyle Nashville, LLC was formed in 2001 and has grown to be the largest developer in the region.  Boyle Insurance Agency, headed by Cindi Gresham, continues to thrive and offers both commercial and personal lines of insurance.

Our grandfather, Bayard Boyle, Sr., and his two brothers initially focused their efforts on buying land and developing residential subdivisions and shopping centers,” says Paul Boyle, President. “He had a remarkable ability to identify and acquire properties in areas that would soon become major growth corridors.  Today, we still stick to these same principals of careful research and planning, whether it’s a residential subdivision, a shopping center, or an office building that we are developing.”

While the company focuses a great amount of resources in the office and retail sectors of the commercial real estate market, the company also is known for its high-end residential communities including River Oaks, The Cloisters, Chartwell, Green Shadows, Blue Heron, the Gardens of Southwind, Golfwalk at Southwind, Riveredge, Bedford Plantation, and Spring Creek Ranch just to name a few.  Boyle is currently active in the Germantown market with development of The Pinnacle of Germantown and Allelon, and is moving forward with additional phases at Spring Creek Ranch in the Collierville Reserve and Twin Lakes of Piperton.

“We’ve built a strong company because the family, from the beginning, has been committed to developing for long-term value,” says Henry Morgan, Co-Chairman.  “We operate on the belief that properties are long-term investments that should be carefully planned, built, and maintained.  With all of our activity in Memphis and Nashville, we think the future looks mighty bright.”

 

 

 

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Music Row businesswoman Missi Gallimore brings Coffee and Coconuts to Berry Farms

Missi.GallimoreCoffee and Coconuts
Missi Gallimore, owner
4000 Hughes Crossing suite 120, Franklin, TN 37064
(615) 905-6999
www.facebook.com/CoffeeandCoconutsTN

Say the name Missi Gallimore around Music Row and everyone will know who you are talking about. She and husband/producer Byron Gallimore are the team behind the careers of Tim McGraw, Faith Hill and Keith Urban.

While she has spent her career in search of great songs for some of country’s biggest names, Gallimore also owns three publishing companies, is doing A&R (artist and repertoire) for Urban’s new record and a duets album for Tim and Faith. But amid all of that, she wanted to find a way to include two of her other favorite things in her business life: the beach and coffee.

After years of research, planning and development, in June of this year, Gallimore opened the beachy-themed Coffee and Coconuts in the developing Berry Farms area just south of Franklin. The busy music mogul sat down over a latte to talk about how this side business dream became reality.

How did you come up with the idea to open a coffee shop?

I had been wanting to do something outside of the music industry because everything I do is music. I wanted an outlet and in addition to loving music, I also love coffee and the beach. At first, I wanted to do something in Alys or Rosemary Beach, but the distance made it hard. I was sitting across the street at Tito’s one day and they were finishing building this place and it just popped into my head to do it here.

What made Berry Farms a good location for you?

We live in Thompson’s Station and have been watching this area grow for a while. It’s a little scary, but this is a 600-acre development and there is all kinds of stuff coming here. It’s close to us and we thought it would be a good place to start. With Lee Company, Dave Ramsey, Hampton Inn and businesses like that coming here, it’s definitely going to be great.

The beachy vibe in here is great. How did you decide on the look and feel?

We go to the Exumas with Tim and Faith a lot. They have an island that has a very special place in my heart. I just love the whole white sand, islandy, clean vibe. Every shell in here Faith and I dug up. We spend hours just digging for shells. The pictures on the walls here are of our kids in the Exumas. I just wanted that beachy islandy, vacation kind of feel.

And the pink flamingos in the ladies’ room?

That just randomly happened. Everything in here is taken from something I saw on Pinterest. I saw this wallpaper on Pinterest and I thought “Oh my gosh, I have to find that wallpaper.” We see on Instagram that people take selfies in there with the flamingos.

How did you come up with the name Coffee and Coconuts?

The name came from when I think of coconuts, it makes me think of being on vacation. We serve our coconut water in real coconuts, too!

What was your goal in opening this business?

All Byron and I have done is in the music business. We’ve been talking for a long time about doing a little side thing just to get away from the music business a little bit. We have lived and breathed it for so long. I still love it and I still have a passion for finding songs, but it’s nice to have something else on the side.

Do you end up bringing the music business down here?

Yes. I come here and do business a lot. It’s a little far from Music Row, but some of the song plugger groups I work with come here and we sit back there in the corner and they play me songs. I do it whenever I can.

How do you manage owning this business and being busy on the Row?

I have damn good people helping me. I have an assistant who I rely on a lot, her name is Susie Joyce. I have Spencer Connatser managing this place. Spencer was a French teacher at BGA (Battle Ground Academy). He worked at Starbucks and he knew his coffee. He had been consulting with me through the process. One day I said, “do you want to run this place?” He said, “I thought you’d never ask!” We are learning all of this together. You have got to surround yourself with a great team.

Do you bounce back and forth a lot?

I do. I come in here early in the mornings and I work. I am very hands-on. About 10, I leave and go do my music business stuff. I come back around 3 and I work here and do music business stuff. I stay until we close. That’s how I make it all work.

The coffee must be pretty good to keep you fueled throughout your day?

Yes! I went to every coffee shop in town when I was doing my research before we opened. I stalked them all. I discovered Muletown Coffee out of Columbia. I love those guys. They are all songwriters from Muscle Shoals, so it was a perfect fit for me. I met with Revelator Coffee as well. Austin is also a singer songwriter, so for now we brew those two coffees.

Originally Published in The Tennessean

By Melonee Hurt

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Financial backer revealed for hotel in Gulch’s Capitol View development

An increasingly aggressive investor from Ohio is fueling a 10-story hotel that’s part of a $750 million mixed-use downtown development helping spur the revitalization of Charlotte Avenue.

Rockbridge Capital, of Columbus, is the equity partner in a 168-room hotel to be built as part of the Capitol View development anchored at 1100 Charlotte Ave. Rockbridge made the announcement Aug. 25, the same day in which a newly filed deed showed that a joint venture between Rockbridge and Franklin-based hotel developer Chartwell Hospitality paid $4.5 million for 0.4 acres of the Capitol View project.

This will be Rockbridge’s third hotel in Nashville, underscoring the influx of out-of-state newcomer investors looking to seize on the seemingly ever-rising demand for rooms in Nashville. Rockbridge is overhauling a former downtown office building into a 226-room boutique hotel. Last year, Rockbridge paid the third-highest price ever for a Nashville hotel, buying the Hilton Garden Inn in SoBro from Chartwell at a price of $375,000 per room.

“Nashville is a dynamic city and hotel market, and we are excited to deepen our roots with our third investment downtown,” Rockbridge CEO Jim Merkel said in an Aug. 25 statement. Rockbridge and Chartwell bought their slice of the 32-acre Capitol View project — one of the biggest developments in Nashville — from developer Boyle Investment Co. and its financial backer, Northwestern Mutual.

In December 2016, the Nashville Business Journal was the first to report the hotel’s brand and Chartwell’s involvement. The hotel, set to open in summer 2019, will be located next to a 10-story office building that will feature the headquarters of HealthStream Inc. (Nasdaq: HSTM). Hampton Inn is a flag of Hilton (NYSE: HLT).

Originally Published in the Nashville Business Journal

By Adam Sichko

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$45M Apartment Complex Planned for Germantown, Collierville Border

Memphis Business Journal

By Jacob Steimer

Boyle Investment Co. is preparing to build a four-story, 375-unit apartment complex on Winchester Road in southeast Germantown.

The 25-acre project, located on the city’s border with the Town of Collierville, is set to cost about $45 million. It would include 19 buildings, a 196-space parking garage and a 431-space surface lot, according to the developer’s application to Germantown’s Planning Commission.

“The market seems to be saying there’s need for multifamily in Germantown,” said Boyle’s Les Binkley, who’s leading the development.

Boyle is seeking several warrants from the commission, including one to surpass the parcel’s current three-story height limit.

“Really the only purpose of going to four stories is being able to put elevators in the buildings,” Binkley said. “I think it’d be a nice offering for the market. … Putting an elevator in a three-story building doesn’t work economically.”

Binkley said the project, currently named “Viridian,” is in keeping with other Germantown projects in terms of units per acre. Boyle’s project calls for 15 units per acre, which matches multiple other projects — including Miller Creek at Germantown — that have been approved for 15 or 16 units per acre.

Boyle is under contract to buy the land — located about half a mile from Winchester’s intersection with Houston Levee Road — from a group of owners that includes Henry Turley, John Goodwin, Steven Beem, James Massey, Ralph Robison and Beverly Marrero.

Turley said he agreed to sell his part of the land, about 10 acres, to Boyle for about $1.3 million. “You got a good developer and a good development,” Turley said. “We thought it was a good land use.”

The planning commission’s staff recommended that the developers make some small revisions to their plan before it is given approval.

Boyle’s application is set to be discussed at a Germantown planning commission subcommittee on Wednesday, Aug. 16, and the city’s full planning committee meeting Sept. 5.

“On Wednesday, we’ll hopefully work through [the suggested revisions] and be squared away to present at the full planning meeting,” Binkley said.

The project would create about $355,000 in annual property tax revenue, according to the staff’s analysis. Binkley said rents at the apartment complex would be at least $1.50 per square foot.

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High Point Climbing Gym Proposed Near Shelby Farms

The Commercial Appeal

By Tom Bailey

East Memphis commuters may be treated to some eye candy — up to 10 climbers at a time scaling a 40-foot-tall, outdoor climbing wall — if plans for a large climbing gym are approved.

Chattanooga-based High Point Climbing proposes to build a $9 million, 32,000-square-foot climbing and fitness facility at a high-profile intersection just west of Shelby Farms Park.

It’s the second substantial rock-climbing in the works in Memphis. Movie director and philanthropist Tom Shadyac is converting a long-vacant building at 879 E. McLemore in Soulsville into Memphis Rox, a 28,000-square-foot climbing gym and community center.

“The Memphis project will be cool,” said High Point Climbing principal Johnny O’Brien of Chattanooga, where passersby often stop and watch climbers at two High Point facilities. High Point’s third climbing gym opened early this year in Birmingham.

High Point plans a two-story gym on 2.7 acres at the northwest corner of Walnut Grove and Humphreys Boulevard. The site is now a parking lot immediately east of the Christian Brothers High School baseball field.

“We’re an indoor rock climbing gym with an outdoor component,” O’Brien said. “We wanted to be close to Shelby Farms” with its biking and running trails, kayaking and other activities. “We think it’s a real complement.”

High Point Memphis LLC filed an application with the Land Use Control Board to amend the Humphreys Center Planned Development to allow a sports facility there.

The board is to consider the request at its meeting on Sept. 14 at 10 a.m. in City Hall.

High Point Climbing is coming to Memphis for two main reasons: O’Brien’s son-in-law and business partner, John Wiygul, grew up in Memphis and Germantown; and the Memphis market is ripe for a climbing gym.

“Memphis has been in the sights of many (climbing) gym developers as a key city to be able to develop a new gym,” O’Brien said Tuesday. “Probably one of the top 10 cities in the U.S. That’s a result of the overall demographics and the fact there were no climbing gyms in the city…

“With us being located within the state we decided we’d better go ahead and take advantage before any other out-of-state developers,” he said.

One might not assume there’s an abundance of climbers in Memphis, surrounded for many miles by flat delta land or only gentle hills. But the topography will be an advantage for High Point Climbing, O’Brien said.

On a nice weekend in Chattanooga, climbers can travel to natural rock formations in 20 or so minutes as an alternative to the gym, O’Brien said. Not so in Memphis.

“What happens in a city like Memphis, your membership base is more solid and people become more of a community in the gym,” O’Brien said. “And they will take a trip on a weekend to an outdoor climbing crag.”

High Point’s website, highpointclimbing.com, quotes an April 2015 edition of Climbing Magazine as stating High Point is “the country’s coolest gym.”

In Chattanooga, the outdoor climbing walls feature climbing on transparent climbing material  “that is like nothing else,” the company’s website states.

The Memphis wall will be composed of a different material — molded Fiberglas — that is better for climbing, O’Brien said. The wall will be made in Bulgaria.

Inside the gym, climbing areas are available for all ages and abilities. The space includes a “Kid Zone.”

The gym also provides cross-training, as well as aerobic, weight and yoga facilities with 13 yoga and two spin classes weekly in Chattanooga.

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Mueller Industries Makes PILOT Pitch to Collierville

The Commercial Appeal

By Linda A. Moore

Officials in Collierville are pondering a 10-year payment-in-lieu-of-tax (PILOT) proposal from Mueller Industries Inc. that would move the company’s headquarters from Memphis to Collierville, bringing a nearly $15 million investment to the town along with 120 jobs.

Last week the Collierville Industrial Development Board heard the particulars of the plan that would move Mueller into a new building on the southeast corner of Schilling Farms Boulevard and Shilling Farms Boulevard East.

Mueller is a publicly traded manufacturer of metal and plastic flow control products. It has manufacturing and distribution facilities across the globe and will celebrate its 100th anniversary this year. It moved its headquarters to Memphis in 1996.

 It has been at its Southwind area headquarters for 15 years and the lease is expiring, said Jack Treas, vice president-general manager of the plastics systems.

While Mueller looked for a new HQ, the company considered staying in Memphis, moving to Germantown or a community outside of the Mid-South, Treas said. It was aggressively courted by Mississippi, Treas told the Collierville IDB.

And they likely would have made it “incredibly valuable to Mueller in terms of dollars” to make that happen, he said.

“But when the smoke cleared, this felt like home,” Treas said.

Collierville collects about $4,700 on the land under consideration, said John Duncan, the town’s director of economic development.

The construction of a new 50,000- to 55,000-square-foot office building, including building costs and other expenses, puts the investment at $14.75 million, Duncan said. Average annual salary for the employees is $89,000.

That development, without the PILOT reduction, would generate $99,107 annually in property taxes, Duncan said.

With the PILOT, 75 percent or $74,330 of those taxes would be abated, leaving Collierville with $24,777 in property taxes.

The Economic Development Growth Engine (EDGE) board must also approve a Shelby County tax abatement.

The estimated county PILOT would be $61,000 a year and the estimated county abatement would be $183,000 a year, Duncan said.

The land and building will be owned by developer Kevin Hyneman Companies with Mueller holding a 15-year lease, Treas said.

The Collierville industrial board will vote on the Mueller proposal later in May, Duncan said. If approved it will then got to the board of mayor and aldermen for final approval and then on to EDGE.

County Commissioner Willie Brooks, a Democrat from Memphis, is a non-voting member on the EDGE board.

Although there have been challenges to the practice of companies shuffling within the county from one municipality to another, adding another state into the mix quiets those concerns.

It’s more important that the jobs stay in the county, Brooks said.

“We certainly wouldn’t want them to go out of state. If we can retain these jobs in Shelby County it would to me serve as a benefit to Shelby County as opposed to another state being able to absorb 120 workers,” Brooks said.

If Mueller’s PILOT bid is successful, it would move in to its new offices in early 2019.

 

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Exclusive: How Mueller’s Collierville Move Came to Be

Memphis Business Journal

Sometimes it helps to know your neighbors.

That’s how Kevin Hyneman, CEO of Memphis-based Kevin Hyneman Cos. Inc, ended up with the contract to build a $14.5 million office building for one of Memphis’ largest companies.

Hyneman is preparing to develop the 55,000-square-foot building for Mueller Industries in Collierville’s Schilling Farms Community. But, it all started with a conversation with a powerful neighbor.

“[Mueller CEO Greg Christopher] is a neighbor of mine in Southwind. We often chatted. I knew their lease [in a nearby Southwind office park] was maturing December of 2018. I told him, ‘I got the ideal place,'” Hyneman said.

That place was Schilling Farms. Even though Mueller looked extensively at other options — including locations in North Mississippi and Fayette County — over the past year and a half, the company ended up settling on the first lot Hyneman showed Christopher back in early 2016.

Hyneman said Boyle Investment Co., which manages Schilling Farms and would be selling the plot for Mueller’s headquarter to Hyneman, and Collierville’s Industrial Development Board, which is currently considering a 10-year payment-in-lieu-of-taxes for the Mueller move, both made the move possible by being “extremely helpful.”

“I dealt with [Boyle executive vice president] Mark Halperin, and he’s a gentleman. … [Collierville director of Economic Development] John Duncan has been very resourceful,” Hyneman said.

Boyle vice president Les Binkley said he is “delighted” Mueller picked Schilling, as the development is “catered to be a good environment for corporate office users.”

If the move occurs, Mueller would join Schilling Farms corporate office tenants Helena Chemical, MCR Safety and Juice Plus. The development also includes residential neighborhoods, retail space, restaurants, doctors’ offices, a YMCA, banks and a church.

Avison Young’s Shane Soefker is working with Hyneman on the development, and Fisher Arnold is the civil engineering firm. Fleming Architects is the architectural firm, and Grinder, Taber & Grinder, Inc. is the general contractor, Hyneman said.

Hyneman said the Mueller investment will bring his total investment in Collierville to more than $50 million.

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Fortune 1000 Company Set to Relocate HQ to Schilling Farms

Memphis Business Journal

Memphis is set to lose a Fortune 1000 company to Collierville.

Mueller Industries, currently headquartered in Southwind, is planning to move its 120-person headquarters to a yet-to-be-constructed office building at Schilling Farms, according to Collierville director of Economic Development John Duncan.

The company, which produces piping, industrial metals and climate control products, presented an application for a 10-year payment-in-lieu-of-taxes (PILOT) to the Collierville Industrial Development Board (IDB) Wednesday, April 26, Duncan said.

In its presentation, the company outlined $14.8 million in land, building and personal property investments that will be made in Collierville in conjunction with its proposed move. The 120 jobs involved pay an average salary of $89,000.

A Boyle executive did not return a request for comment, and Mueller executives could not be reached for this story.

Over the 10 years of the proposed PILOT, Mueller would make about $248,000 in PILOT payments to Collierville. If the Schilling Farms parcel were to go undeveloped, property taxes on the undeveloped land would amount to $46,710 over the 10 years, Duncan said.

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Skills Prevail: New Projects Have Cemented Boyle Investment as a Premier Developer

By Tim O’Connor

Construction Today Magazine

February 2017

By Tim O’Connor

 

Boyle Investment Co.’s most valuable asset is its experience. The 84-year-old company has an extensive portfolio that includes most any kind of development imaginable, from suburban subdivisions to massive downtown mixed-use projects, hotels, and office and retail facilities. .

 

“Boyle is one of Memphis’ oldest real estate developers and has a longstanding reputation for quality developments that stand the test of time,” Vice President Les Binkley says. “We are a long-term holder of real estate and are known for our attention to detail.”

 

The faces behind that reputation for quality have been a lasting presence even as the company has grown. Many of Boyle’s executives have worked at the company for 40 years or more. “Boyle has a deep bench of experts who have been with the company for years and provide the necessary expertise and experience to ensure the long-term success of our real estate projects,” Binkley says.

 

Experience has guided Boyle well even in the most difficult of times. Three brothers, Bayard, Snowden and Charles Boyle, formed their namesake property management firm in 1933, just as the nation began its slow recovery out of the Great Depression. By the end of the decade, the company joined with National Life, Provident Life and other insurance providers to issue commercial and residential loans.

 

Following World War II, Boyle fed the development of Memphis by providing loans for residential, commercial and industrial projects throughout the Tennessee city. In the late 1940s, the company expanded into developing subdivisions in Memphis.

 

For six decades, the company flourished in the Memphis market, undertaking major projects such as the conversion of the Ridgeway Country Club into a 204-acre multi-purpose development and the 650,000-square-foot headquarters for electrical component manufacturer Thomas & Betts. The company gradually took on developments and holdings in Tennessee, Florida, Mississippi, Illinois, Arkansas, Kentucky, Texas and Missouri, but it wasn’t until 2001 that it opened its second office, located in Nashville, Tenn.

 

The Nashville division has since grown to encompass about 30 employees and 2.8 million square feet of commercial space. Another 5 million square feet of projects are in the development and planning stages. “The Nashville office has become one of the foremost real estate development and acquisition firms in middle Tennessee by partnering with local land owners, investors and growing businesses to create value in real estate,”  said Jeff Haynes, Partner of Boyle Nashville, LLC.

 

Diverse Developments

 

Diversification fueled Boyle growth for much of its history and remains a core part of the company’s strategy. Boyle has years of experience in developing complex, large-scale mixed-use communities and high-end neighborhoods. The company’s notable projects include Ridgeway Center in the East Memphis neighborhood, which has 1.5 million square feet of office space; Humphreys Center, also in East Memphis, an office, retail and residential development with a medical center; and Schilling Farms, a 443-acre mixed-use community in the Memphis suburb of Collierville.

 

Several projects underway will continue to advance Boyle’s position as a leading developer in Memphis and Nashville. In 2016, the company broke ground at Ridgeway Center on 949 Shady Grove, Memphis’ first new Class A office building since 2009 and the new home of Pinnacle Financial Partners’ Memphis headquarters. Binkley says the building is on schedule to be completed in the fall of 2017 .

 

Boyle just recently completed three projects at Schilling Farms: a 50,000-square-foot Class A office building, a 9,000-square-foot retail center and the second phase of a multifamily community of boutique flats and townhomes called Carrington West.

 

In Nashville, Boyle is overseeing the construction of Capitol View, a 32-acre mixed-use project featuring offices, shops, restaurants, hotels, upscale multifamily residential units and a 2.5-acre urban activity park. Capitol View will also be home to the corporate headquarters of at least two companies. Hospital Corp. of America (HCA) opened a 500,000-square-foot office in the development last October to house subsidiaries Health Trust, Parallon and Sarah Cannon. Meanwhile, a new 250,000-square-foot headquarters for Christian publishing company LifeWay is under construction.

 

Work on phase two of Capitol View has already begun.  Haynes says the development is adding a new mixed-used building with retail and office space and 378 multifamily units. A second building for restaurants, specialty retail and 300,000 square feet of Class A offices is also planned.

 

The development at Schilling Farms also continues to grow. The project’s upscale multifamily community, The Carrington at Schilling Farms, opened two years ago and Boyle is already leasing a second phase, called Carrington West, which will add another 125 boutique apartments and townhomes.

 

Building Communities

 

In the past, Boyle used an in-house construction company to build the vast majority of its projects , but today the company chooses to work in close relationship with select third party general contractors . “We currently contract out the construction of our projects and aim to build long-term relationships with firms specializing in the various building types that we develop instead of  of working on a strictly transactional basis,” Binkley explains. “We only engage with companies that maintain the highest standards of quality and pay the same attention to detail that we do at Boyle.”

 

No matter where its developments are located, Boyle strives to design projects that benefit the region beyond the project site. “We think it’s important to make sure that quality of life is maintained and enhanced in all of the communities in which we develop,” Binkley says. Boyle has provided financial and land donations to the Wolf River Conservancy, which is part of the Mid-South Regional Greenprint initiative, a 25-year government-funded plan to create 700 miles of trails and cycling paths in the Memphis area. Additionally, the company contributed to the Big River Crossing, a 4,827-foot long pedestrian boardwalk that opened in 2016 and is built along the Harahan Bridge, a rail bridge spanning the Mississippi River just south of downtown Memphis.

 

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Berry Farms Video – About Berry Farms

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