Commercial Real Estate in Memphis and our Galaxy

There was an article in todays Wall Street Journal about the sale of Tribune Co. (owner of the L.A. Times, Chicago Tribune, Chicago Cubs, and a bunch of other assets) to “real-estate mogul” Sam Zell. In the article was a brief, BRIEF, comment on our Memphis Grizzlies majority owner, Michael Heisley.

Anaylsts and potential bidders estimated that the Cubs could fetch $600 million. Among those who have expressed an interest in the past: Mark Cuban, owner of the NBA’s Dallas Mavericks; Jerry Colangelo, chairman of the NBA’s Phoenix Suns, and real-estate investor Donald Trump…Locals who have expressed an interest include…Michael Heisley, majority owner of the NBA’s Memphis Grizzlies.

What’s with all the NBA guys wanting to move into Baseball? Can you imagine George Steinbrenner owning an NBA team?

Pop Quiz: If you were selling your baseball team to the owner of an NBA team, would you sell it the owner of the:

a) Dallas Mavericks, 61-12 and reigning Western Conference Champs

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Your favorite real estate developer/fat-chick basher is up to his tricks. From the LA Times:

DONALD TRUMP, who as far as I know is a lovely man and a gentle soul, is getting a star on Hollywood Boulevard’s Walk of Fame. I’m not sure exactly where…But one thing is certain: He paid top dollar for it, wherever it is.

When he receives his star on the Hollywood Walk of Fame, Trump will no doubt look up and down the sparkling Boulevard with satisfaction. He, like Agnes Ayers, Wendell Niles and Ryan Seacrest, has made it. But he also will be bringing some pixie dust of his own to the famed Boulevard. He will be touching it with the Trump brand. And he will be opening up another profit center for the Hollywood Historic Trust.

And also: Rosie O’Donnell doesn’t have one yet.

From Fin 24 via The Drudge Report: Everyone’s favorite Billionaire is building in Tel Aviv.

Jerusalem - Real estate tycoon Donald Trump said on Sunday he will build a “Trump Tower” in Tel Aviv, his first investment in Israel in what would be the largest building in the country.

Trump, along with US-based Crescent Heights Investments, will build the 70-storey tower of luxury apartments on the site of the current headquarters of food company Strauss-Elite, across from the Diamond Exchange, at a cost of about $300m, they said in a statement.

I haven’t watched more than one or two episodes of The Apprentice since its first season. From what I hear, all NBC has going on these days is My Name Is Earl and The Office, so I’m glad the whole “Real Estate Developer” thing is still working out for The Donald. There’s a lesson in that for all the John Stamos’s and Jason Priestlys of the world: If Hollywood dries up, there’s always a career in international real estate waiting for you.