Park Avenue Professional Building Sells for $1.3M

VOL. 7 | NO. 46 | Saturday, November 08, 2014

William J. Logue, the chief executive and president of FedEx Freight, will retire at the end of the year due to health concerns, the company announced Wednesday, Nov. 5.

On Jan. 1, Michael L. Ducker, a 40-year company veteran and current chief operating officer of FedEx Express, will replace Logue as the head of FedEx Freight, Memphis-based FedExs less-than-truckload freight transportation arm.

FedEx founder, chairman and CEO Fred Smith said Logue led FedEx Freight to significant growth, success and a leading position in the LTL sector.

He navigated some of the worst economic conditions the industry has ever seen and delivered outstanding results while positioning FedEx Freight for long-term success, Smith said in a statement. He has established himself as an all-time great leader during his 25 years at FedEx, and while we are sorry to see (Logue) retire, he has our gratitude, support and best wishes.

The Sears Crosstown redevelopment project could get an infusion of funds for energy conservation efforts.

The Center City Revenue Finance Corp., the financial arm of the Downtown Memphis Commission, is considering issuing $14.5 million in Qualified Energy Conservation Bonds on Tuesday, Nov.. 11, and the $180 million Crosstown project could claim some of those funds.

A Qualified Energy Conservation Bond is a bond that enables qualified state, tribal and local government issuers to borrow money at attractive rates to fund energy conservation projects, according to the U.S. Department of Energy.

The Crosstown team is seeking to redevelop the vacant Crosstown building, constructed in 1927, through arts, education and health care.

The Possible funds from the bond issuance would be part of the citys $15 million commitment to the project.

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Park Avenue Professional Building Sells for $1.3M