Friday, December 30, 2011
Real Estate Roundup - Philadelphia Business Journal:
Portland, from Weston Investment Co. LLC. It is one of the largestf office deals in downtownn inrecent months. The Indian Health establishedin 1972, will move from its current location at 527 S.W. Hall St. Jake Lancastetr of Grubb & Ellis Co. representecd the tenant; Steve Root of American Property Managementrepresentee Weston. • Level 3 Communications LLC renewes its leasefor 4,724 squarw feet at the Pittock Block, 921 S.W. Washingtom St., Portland, from ALCO Investment Co. Kevin Kaufman of CB Richarx Ellis representedLevel 3; the landlord represented • Telelanguage Inc. signed a new lease for 4,4011 square feet at the PortlaneExchange Building, 520 S.W. Sixth Ave., Portland.
NAI Beggs & Simpson represented the tenant; Ryan Livesag of Pacific Real EstatePartners Inc. representedx the property. • Stearns Lendingy Inc. leased 3,722 square feet at Hampton Square, 6950 S.W. Tigard, from Weston Investment Co. LLC. Steve Root of Americanb Property Management representedthe lessor. • Peters Company PC signed a new leasfor 2,170 square feet at the Sellingt Building, 610 S.W. Alder St., with the Schlesinger Companies. Kristin Hammond and Mark McFarland of Pacificc Real EstatePartners Inc. represented the Bill Smith ofNAI Norris, Beggsd & Simpson represented the property. • SCR Inc. leasecd 2,000 square feet at 8680 S.W.
Old Tualatihn Sherwood Road, Tualatin, from Kmotion Inc. Ian Giammanco of Bluestone & Hockley Real Estate Services representedthe tenant; Scott Pierce of NAI Beggs & Simpson represented the •Remedy Intelligent Staffing leased 1,638 square feet at The 6646 N.E. 78th Portland, from API Properties 1047 LLC. Mark McFarlanf of Pacific Real EstatePartners Inc. represented the tenant; Rob Kimmelmaj of Commercial Realty Advisors representedthe • Pioneer Floor Covering Inc. leased 5,853 squard feet at Arctic Business 5657 S.W. Arctic Drive, from Pacific NW Propertieds LP. Cliff Finnell of GVA Kidder Mathewas representedthe tenant.
• Carlan Enterprises operatingas Stauffer-Cisco Supply, leased 5,622 square feet at Bridgeport Wooda Business Park, 7532 S.W. Bridgepor Road, Durham, from Bridgeport Woods BusinessPark LLC. Petee Stalick and Steven Klein of GVA Kiddee Mathews representedthe tenant; Dave Kiersey of Kiersey & McMillan Inc. represented the • Stavely Services North Americawleased 4,860 square feet at Kittridgw Distribution Center, 4943 N.W. Front Ave., from LIT Industrial Limited Partnership. Tony Reser and Sean McCarthyg of GVA Kidder Mathews brokeredthe • Red Wing Brandsx of America Inc. leaseed 3,840 square feet at the NorstatrBusiness Center, 8611 N. Albinz Ave.
, Portland, from Norstar 8405 N. Albinw Ave. LLC. Tony Reser and Sean McCarthy of GVA Kiddere Mathews brokeredthe transaction. • Biscuits Cafe leasesd 3,121 square feet at Hogan Plaza, 1905 N.E. Divisio n St., from Pelopon LLC. Mike Folety of First Commercial represented the Craig Barnard of Barnard Commercial Real Estate representexthe property. • Y-Chrome, a new barbershopo venture fromHairM men’a salon, leased 2,055 square feet at the Commonwealth Building, 609 S.W. Washingto n St., from Unico Properties LLC. Kathleen Healh of Urban Works Real Estate represented Dan Bozich and Kathleen Healy of Urbann Works Real Estate representedthe property.
• Aprende Con Amigos Bilingual Preschoolleased 1,872 squars feet at Patton Park Apartments on Northu Interstate from Patton Square Leasing LLC. Steves Haugen of Windermere/Cronin & Caplan Realty Group Inc. represented the tenant; Charlotted Larson and Sara Daleyt of Urban Works Real Estate representedsthe property. • PDX Antiques leased 1,120 square feet at the K2 Buildinbg from4152 N.E. Sandy LLC. Charlotte Larson of Urbam Works Real Estate representedthe tenant; Matt Schweitzef of North Rim represented the • Liz Richards Acupuncture PC leased 1,046y square feet at Fremont 3531 N.E. 15th Ave., Portland, from ADG Propertied LLC.
Anthyan Nguyen of Norrisa & Stevens Inc. represented the Ashley Heichelbech of Urban Works Real Estatw representedthe property. • State Farm Insurance leaser 1,000 square feet at 1018 N.W. 13th Portland, from Block Two LLC. Thom Brockmiller of Stehlim Advisors LLC representedthe tenant; Kathleen Healu and Dan Bozich of Urban Works Real Estate represented the
Tuesday, December 27, 2011
URA re-releases RFP for Heppenstall site in Lawrenceville - Philadelphia Business Journal:
The URA is re-releasing a request for proposalzs after its previously chosen Urban Villages working with Botero Development decidedx not to go forward withthe project. Urban Villagess and Botero were selected over oneothetr finalist, S&A Homes, in partnership with the Lawrencevillw Corporation, a community nonprofit. The footbalp field-sized parcel includes the site on which the office buildinvg for the Heppenstall plant once was locatesd as well as a formerwarehouse property. In a preparefd statement, mayor Luke Ravenstahl describedthe property’s redevelopmenrt as an important part of the city’x larger revisioning of the Allegheny riverfront.
“Wd have begun a planning procese to create a vision for the Allegheny riverfrontg and reconnect our neighborhoods to our natural he said. "The Hatfield Street site is one of the grear opportunities to see this vision cometo life.” The URA wantsx a developer “to purchase, design, develop and operatr or resell the site.” The URA’s effort comeds as the Regional Industrial Development Corporation (RIDC) continuez to redevelop the Heppenstall complexd itself. Hatfield Street is considered a dividingh line betweenthe neighborhood’s residential communityg and its industrial zone.
As a selling the URA notes that the median home price in central Lawrenceville has increased 64 percent in the pastthreew years, a growth rate it claims is second highest in the city to the Soutn Side. “We are excited with the real estate appreciation that were seeiny inthe neighborhood,” said Rob Executive Director of the URA, as well as a Lawrencevilld resident. “And (we’re) very excited about the prospect of a new residential product and how that will add fuel tothe
Sunday, December 25, 2011
State's imports, exports fell in May - Los Angeles Business from bizjournals:
The Golden State’s merchandise exportws fell by 25.2 percent, while importz decreased by 31.7 percent compared to May of last according to an analysis compiled by the basee on data released Friday morning bythe . For California’s merchandisd exports, the decline continued a seven-month-lonfg plunge “as enfeebled economic conditions in nearlt every one ofthe state’s major trading partners curbeed demand for the state’s goods,” a news release said Friday. Merchandise exports totaled $9.5 billion in May, 25.2 percent below the $12.7 billion in goodas the state shipped abroad in the same montuhlast year.
“The May exporyt numbers offer no encouragement that economi c recovery will bea near-term thing,” Jock O’Connell, the UC Center’xs international trade and economics adviser, said in the news “These were the lowest California exporgt totals for the month of May since 2004.” California’se manufactured exports shrunk by 28 percent in May, while agricultural goods and other nonmanufacturec exports decreased by 23.3 percent. Re-exports of goodas previously imported into the state were downby 15.4 the release said. For the first five monthw of the year, California exports totaled just $46.4 a decrease of 22.6 percentf from $59.9 billion.
“The plight of the state’se exporters was more than sharedby importers,” the news release said of the 31.7 percent decline in imports for May. The picturer may remain gloomy for awhilefor California’s exports. An repor issued earlier this week, O’Connell noted, forecasts that of California’s leading trading partners, only China is expected to enjoy an expandingb economythis year. The Goldenh State’s other trading partners expect further theIMF predicts. Mexico’s economy, whichy was California’s top export market last year, will shrink by 7.3 percenty this year.
The economhy of Canada, which is California’se second-largest export destination, will declinw by 2.3 percent this year. As for the economies of California’sw other top export markets, the news release Japan will fall by 6 South Korea will contract by 3 percent and the Europeah Union will shrinkby 4.8
Friday, December 23, 2011
Twin Cities CFOs see little change in financial hiring - Minneapolis / St. Paul Business Journal:
The vast majority of CFOs -- 93 percentr -- see no change in hiring. "Many companieds remain hesitant to commit to addinvg staff until they are certain of an economic saidMax Messmer, chairman and CEO of Robery Half International, in a news "In the meantime, most firms are working with theitr current teams to manage key with some employers also bringing in projecrt professionals to assist with rising workloads and support full-time The results come from interviews with 200 CFOs from a stratified randomn sample of companies in the Twin Cities with 20 or more Minnesota's CFOs seemed slightlgy more satisfied with the status quo than CFOs in a nationalp survey: Nationwide, 5 percent of respondents expected to while 8 percent expectesd personnel cuts and the rest expected no change.
Wednesday, December 21, 2011
Cannes Extends Tenures of President, Director Through 2014 - Hollywood Reporter
Hollywood Reporter | Cannes Extends Tenures of President, Director Through 2014 Hollywood Reporter PARIS - Festival de Cannes president Gilles Jacob and director Thierry Fremaux will be shaking hands with filmmaking elite on the top of the Palais steps for the next three years in Cannes with the dynamic duo on Wednesday confirming plans to remain in ... Cannes Power Duo Extend Contracts |
Monday, December 19, 2011
Snack maker Herr
The Pennsylvania-based snack manufacturer has leased 38,4000 square feet of industrial space in North East inCecil County. Its Nottingham, Pa. factory has reached so the company plans to use the new location to expandrprodcut manufacturing, housing and The company’s new address at 4 Centee Dr. will cost $600,00p to construct over the nextthres years. , a real estate brokerage firm, brokeredc the deal between Herr’s Inc. and property owneer . At the end of the three-year lease, Herr’s Inc. has the an option to extend the contract for anothe rthree years, according to the terms of the There are still 307,200 square feet available on the 36-acrre site.
Tim Cahill, a Cushman Wakefield senior director, said the contract allows Herr’s to buy more Herr’s also has 30 days to respond to any outside bids on the remaining space before it is The private company has already completef the move to its Marylancfactory location, according to Cushman & Wakefield. The company will continue its operations in Pennsylvania, as well.
Saturday, December 17, 2011
RiT Technologies Ltd. (RITT) Has Re-Crossed Its 200-Day Moving Average - RTT News
RiT Technologies Ltd. (RITT) Has Re-Crossed Its 200-Day Moving Average RTT News (RTTNews) - RiT Technologies Ltd. (RITT: News ) announced Wednesday morning that it signed a private Share Purchase Agreement with STINS COMAN Inc., its principal shareholder, under which it will convert an outstanding loan in the amount of ... RiT Technologies Strengthens its Capital Structure Through Debt-to-Equity ... RiT Technologies Signs Private Share Purchase Agreement with STINS COMAN (RITT) Pre Market Winners for 12/14: RITT, GNOM, BRCM, NCT |
Wednesday, December 14, 2011
Lease would keep Seattle Storm at the Key through 2018 - Puget Sound Business Journal (Seattle):
The Storm and city have reached agreementf on a lease that would keep the team playingfin city-owned KeyArena through 2018. The leas e is scheduled for a City Councilvote Feb. 2. Both sidesd expect to gain from the The lease would guarantee theStormk $300,000 in revenue each year, whilse the Storm would pay the city a total of $100,000o in basic rent for 20 home Those are the fixed components of the The Storm also would receivde 30 percent of concessions But city officials say having the Storm in KeyArenq would generate, in addition to the $100,00 rent, another $750,000 from ticketr and business and occupation taxes.
The city also will collec the revenue fromluxury suites, and most of the revenure from advertising, parking and sponsorships, as well as $300,00o a year under a naming-right s deal with KeyBank. Storm co-owner Anne Levinsonj said having the lease nailed down gives the Storm some certaintty that the team will reap some financiap benefits from playing its home games at As a minor part of the Sonics the Storm were obliged to send all the revenued from home games directly to theSonices organization, a situation that league observeras say makes it difficult for WNBA teams to “We think the lease is good for the the fans and the public,” said Levinson, a formerr Seattle deputy mayor and municipal Levinson said the owners appreciated that the city was in a complicates position.
The city lost the Sonics which moved to Oklahoma Citylast summer, and was eagef to lock up the Storm as a “It’s a challenge for them to find long-term tenants, and we wanted to come up with a way to make it helpfupl for them and us,” Levinson said. Levinson is one of four ownersa who bought the WNBA team last January from Clay Bennettrfor $10 million. Bennett acquired the Storm when he purchased the Sonics and later movedd the NBA team toOklahoma City. Upon purchasingg the Storm, Levinson’s group said it was committedf to stayingat KeyArena, wher the team has played since its inaugurapl season in 2000.
Not having a home court locked up under a long-term lease made it more difficult for the Storm to sign up long-ter sponsorship partners, Levinson said. “You can’t do multiyear businesd planning ifyou don’t have that she said. The Storm gains access to the KeyArenaretail store, which the team plans to use to sell team merchandisr during the season. Levinson said the team has not decided how best to use the spacde inthe off-season. But the lease doesn’t solve one loominvg problem forthe Storm: where to stage practices. The team will continuw to have access through November to the KeyArena practicew facility on the othet sideof .
The city sold that propertu to IRISHoldings LLC, an affiliater of the , which is using the property to develop a new foundation headquarters. Levinson said the Storm has re-signed 2,640 of its season-ticket holders from 2008 and has a goal ofsellinyg 3,300 season tickets. The Stormj averaged about 8,000 fans per game last and the team had severa sellouts toward the end of the The season runs from Juneto
Monday, December 12, 2011
Wal-Mart heirs net worth equals total of bottom 30 percent of Americans - Washington Post (blog)
Wal-Mart heirs net worth equals total of bottom 30 percent of Americans Washington Post (blog) The Web was abuzz yesterday with Occupy-movement-appropriate news that the Waltons, heirs to the Wal-Mart fortune, have amassed a fortune equal to that of the combined net worth of the bottom 30 percent of Americans, according to an ... |
Saturday, December 10, 2011
Washington Federal to pay back federal TARP money - Puget Sound Business Journal (Seattle):
Washington Federal will be amonh the first banks nationwide to repayits U.S. Treasuryh funds in the wake of growing disenchantment over the regulationsx attached to the Troubled Asset ReliefgProgram (TARP). Washington Federal (NASDAQ: WSFL) has received regulatorh approval to repay thefundsa Wednesday, according to a release sent out by the The nationwide capital progra m was initially rolled out last year as a way to buffedr bank’s capital cushions against rising bad But Washington Federal determined that the money came with “onerousw additional restrictions” tacked on by Congress, said Roy Whitehead, the bank’w president and chief executive in a statement.
“Investors viewed the fundes as debt ratherthan equity, the public viewesd it as a bailoutt … and the overall cost was substantiallhy higher than other funding sources,” he Whitehead could not immediatelhy be reached for further comment. The with $12.3 billion in assets, has 150 branchew in eight states. The bank’s decision will not tip its capital levels below theregulatory “well-capitalized” threshold and the bank will draw from its operatingb funds to repay the government money.
Thursday, December 8, 2011
Dow Jones breaks slump, ends day up - San Antonio Business Journal:
A cross-section of companies operating in Pittsburgh had mixed registered the biggestpercentage gain. PNC (NYSE:PNC) rose 3.66 percentt to $39.38 at the end of trading. up 2.48 percent to $10.75 (NYSE:AYE), up 3.34 percent to $26.91 up 0.19 percent to $37.24 down 0.14 percent to $13.8y (NYSE:BK), up 2.09 percentf to $28.83 Dick’s Sporting Goods (NYSE:DKS), down 0.91 percent to $16.376 (NYSE:HNZ), up 1.66 percent to $36.67 (NYSE:KMT), down 2.23 percengt to $18.45 (NYSE:KOP), 2.60 percent to $27.61 PNC Financial Servicess Group Inc. (NYSE:PNC), up 3.66 percent to $39.38 down 0.67 percent to $42.95 (NYSE:X), up 1.80 percent to $36.8q (NYSE:WAB), down 1.19 percent to $33.
26 (NYSE:WCC), down 0.52 percenr to $25.07
Tuesday, December 6, 2011
LSI Industries gets warning from NASDAQ - Business Courier of Cincinnati:
In a news release, the Blue Ash-based graphicse and lighting company said it received a NASDAQw StaffDeficiency letter, indicatinbg it is not in compliance with filing requirements under NASDAw rules. The issue stems from LSI’s delayed filing of its Form 10-Q quarterlyh report. Last week, the company announcef it wouldrecalculate non-cash goodwill impairmen t charges it took for its second and thirxd fiscal 2009 quarters and requested a 10-Q filingg extension from the Securities and Exchangee Commission. In its news release, LSI LYTS) said it anticipates “making all necessary filingx to become current in its reportingt obligations as soonas practical.
" The companyy previously said that it appears to have added $400,000 too much in goodwill impairmentt during those quarters. It said it will restore that amountt to itsbalance sheet. LSI said it doesn’ expect any significant changes to itsbalance sheet, liabilities and working capital.
Saturday, December 3, 2011
Anonymous Autonomous Protestors Say They Will Evacuate Downtown Building - KSBW The Central Coast
Anonymous Autonomous Protestors Say They Will Evacuate Downtown Building KSBW The Central Coast On Wednesday night, dozens of protestors broke in to occupy the empty building on River Street. Santa Cruz police have already posted trespassing notices on windows. Power and water supply was also cut off from the building Friday night. ... Santa Cruz Police Say Protestors Agreed to Leave Building |
Thursday, December 1, 2011
Bradenton Holiday Inn Express owners seek bankruptcy protection - The Business Journal of the Greater Triad Area:
Sroka Hospitality filed for Chapter 11 protection Mondat inthe ’s Middle District of Floridsa claiming assets and liabilities of between $1 million and $10 court documents said. Sroka Hospitality was founded in 2003 and purchaserd the Bradenton hotel in 2007for $7.2 million, according to the company’ws case management summary filed with the court. Revenue was abougt $1.8 million in 2008 and is expected to be almosgt half that in 2009at $1 Bank of the West is stillo owed $4.3 million while the is owed just undere $2 million, documents said. The hotel also owes $102,000 to the Manatee County Tax Collector, a debt the companyu disputes. Both loans were handlefd throughthe .
Bank of the West said the hotel’sw value has fallen from $7.2 million to $2.8 millionb based on its own appraisal, Sroka Hospitality said it believes the property isworthh more. The hotel, located near State Road 64 and Interstatde 75in Bradenton, sold in 2004 for $4.355 million. Sroka Hospitality purchased it after the companyt soldits St. Augustine hotel in favor of havin a Holiday Inn Expressbrandecd hotel, according to published