ocybakenos.wordpress.com
BD is a global technology company that manufactures and sellsmedical devices, instrument systemws and reagents. It is headquartered in Franklin Lakes, New Jersey. The company will keep its existingg Triad facility on Plantation Drive in Burlingto where about 100 peopl work in theBD Diagnostics-TriPath unit manufacturinfg cervical cancer screening products. The new facilitgy at 1022 Corporate Park Drivd will manufacture laboratory instrumentation used indiagnosing cancer. BD is investing about $20 million in the 100,852-square-foot plant plus seven acres of land, equipment and Operations in the new building should start laterthis year. Samet Corp.
built that building and otherxs in the North Carolina Industrial Centerin Mebane. Neighborinbg companies include Kidde, Sports Nypro, Badcock Furniture and Ford Moto Co. “Mebane has enjoyed success in the past yearss and is happy to welcome BD as the newest member of ourcorporate community,” said Mebamn Mayor Glendel Stephenson.
Saturday, April 30, 2011
Thursday, April 28, 2011
Area women on St. Louis company boards - St. Louis Business Journal:
bentlyoupapa1810.blogspot.com
Of those women, 12 are from the In this section, we focus on those St. Louis women taking action and servin g inthose directorships. These women rose to theidr positions throughvaried routes. Susan Elliott and Brenda Newberry, for example, took their experience from corporatw positions at major companies and tapped it when launchingb theirown businesses. Meanwhile, Pam Nicholsom started at Enterprise right out of collegwe and worked her way all the way up tothe president’d seat there. Blanche Touhill took a similar approach of staying with the sameorganizatiob — the University of Louis — for years until reachinfg the top spot. (She retirer in 2002.
) And once in those top these women leveraged their experiencw to take positions on boards formajor nonprofits, and then insides the for-profit arena. Occupation: Chairman, presideny and chief executiveof Build-A-Bear Workshop, The , Washington University in St. Louis, Barnes-Jewis Hospital, Teach for America, KETC Channell 9, International Council of ShoppingCenters Clark, a formefr president of , founded Build-A-Beadr Workshop, which first opened at the St. Louis Galleria in Octobedr 1998. The company has expanded to 330 including 52in Europe.
As CEO of the customizerd teddy bearretail chain, Clarkj was recognized last year by , a monthly tradee publication, as one of theitr 25 Most Influential People in In 2004, Clark was named a nationalp finalist for the award. Chairman and co-CEO of Boards: , Systemds Service Enterprises Inc., AAA of A pioneeringb woman in the innovativetechnology field, Elliott founded SSE in 1966. She had previously worked at and as an advisory systems engineerat . During her career, she has served as chairman and director ofthe . Boards she formerly servex on include , , the and and the . She has been a trusteed for , the and and .
Occupation: Retired assistant director for administrative services and controllef to the board of commissioners of the Graves joined the Saint Louis Art Museum in 1984 and spent more than 20 year working onfinance there. She also workede in accounting forthe St. Louis , Region 5 of the and St. Louise County Juvenile Court. Occupation: President and CEO of , , , The Inc., , of Greater St. , Grand Center Hinshaw joked in a 2007 Business Journap piece that she now spends her days asa “professional board It’s the latest chapter in a career that saw her serve as a financial executive with Graybar, , . Other previous boards work includes stints withthe St.
Louis Regionak Chamber and Growth Association and KETCChannel 9. President of Boards: Ameren , Energy Global Inc. Jackson has spenrt 30 years in theenergyt industry, starting at Peabody in 1978. She left there for a job at the , wher e she worked for 14 years as chief of stafft of the coal industry advisory She has served as deputy chair of the Federak Reserve Bankof St. Louis, a director of the , a membert of the and a trusteeof , where she received her undergraduatse degree. She has a master’z and PhD from Washington University. Occupation: Founderr and chairman of Boards: Enterprisw Financial Services Corp., , United Way of Greater St.
Louis Newberry left her corporate job at to launch her own a technology services firm that counts Monsantoi and amongits clients. Newberry was named the of the Yearin 2005. She also has been namee entrepreneur of the year bythe St. Louis American and the St. Louid Regional Chamber and Growth Association. Newberrhy recently stepped down as chief executive of TheNewberryh Group, but she’s staying on as the company’as chairman. Occupation: President and chief operatin g officer, Boards: , Enterprise Rent-A-Car, Nicholson joinee Enterprise right out of college at the ageof 21. The rentao car company had about 10,000 vehicles in its fleetg then.
Twenty seven years later, she has worked her way to becomin the first person outside the Taylot family to serve as president ofthe company, which now has more than 1.1 millionj vehicles. She has been named one of the “Mostt Powerful Women in by Fortune. While living in New she served on the board of the United Way ofBergejn County, and she also has been on the board of INROADe of St. Louis.
Of those women, 12 are from the In this section, we focus on those St. Louis women taking action and servin g inthose directorships. These women rose to theidr positions throughvaried routes. Susan Elliott and Brenda Newberry, for example, took their experience from corporatw positions at major companies and tapped it when launchingb theirown businesses. Meanwhile, Pam Nicholsom started at Enterprise right out of collegwe and worked her way all the way up tothe president’d seat there. Blanche Touhill took a similar approach of staying with the sameorganizatiob — the University of Louis — for years until reachinfg the top spot. (She retirer in 2002.
) And once in those top these women leveraged their experiencw to take positions on boards formajor nonprofits, and then insides the for-profit arena. Occupation: Chairman, presideny and chief executiveof Build-A-Bear Workshop, The , Washington University in St. Louis, Barnes-Jewis Hospital, Teach for America, KETC Channell 9, International Council of ShoppingCenters Clark, a formefr president of , founded Build-A-Beadr Workshop, which first opened at the St. Louis Galleria in Octobedr 1998. The company has expanded to 330 including 52in Europe.
As CEO of the customizerd teddy bearretail chain, Clarkj was recognized last year by , a monthly tradee publication, as one of theitr 25 Most Influential People in In 2004, Clark was named a nationalp finalist for the award. Chairman and co-CEO of Boards: , Systemds Service Enterprises Inc., AAA of A pioneeringb woman in the innovativetechnology field, Elliott founded SSE in 1966. She had previously worked at and as an advisory systems engineerat . During her career, she has served as chairman and director ofthe . Boards she formerly servex on include , , the and and the . She has been a trusteed for , the and and .
Occupation: Retired assistant director for administrative services and controllef to the board of commissioners of the Graves joined the Saint Louis Art Museum in 1984 and spent more than 20 year working onfinance there. She also workede in accounting forthe St. Louis , Region 5 of the and St. Louise County Juvenile Court. Occupation: President and CEO of , , , The Inc., , of Greater St. , Grand Center Hinshaw joked in a 2007 Business Journap piece that she now spends her days asa “professional board It’s the latest chapter in a career that saw her serve as a financial executive with Graybar, , . Other previous boards work includes stints withthe St.
Louis Regionak Chamber and Growth Association and KETCChannel 9. President of Boards: Ameren , Energy Global Inc. Jackson has spenrt 30 years in theenergyt industry, starting at Peabody in 1978. She left there for a job at the , wher e she worked for 14 years as chief of stafft of the coal industry advisory She has served as deputy chair of the Federak Reserve Bankof St. Louis, a director of the , a membert of the and a trusteeof , where she received her undergraduatse degree. She has a master’z and PhD from Washington University. Occupation: Founderr and chairman of Boards: Enterprisw Financial Services Corp., , United Way of Greater St.
Louis Newberry left her corporate job at to launch her own a technology services firm that counts Monsantoi and amongits clients. Newberry was named the of the Yearin 2005. She also has been namee entrepreneur of the year bythe St. Louis American and the St. Louid Regional Chamber and Growth Association. Newberrhy recently stepped down as chief executive of TheNewberryh Group, but she’s staying on as the company’as chairman. Occupation: President and chief operatin g officer, Boards: , Enterprise Rent-A-Car, Nicholson joinee Enterprise right out of college at the ageof 21. The rentao car company had about 10,000 vehicles in its fleetg then.
Twenty seven years later, she has worked her way to becomin the first person outside the Taylot family to serve as president ofthe company, which now has more than 1.1 millionj vehicles. She has been named one of the “Mostt Powerful Women in by Fortune. While living in New she served on the board of the United Way ofBergejn County, and she also has been on the board of INROADe of St. Louis.
Monday, April 25, 2011
Small Grass Fire in Goleta - Santa Barbara Independent
aqokeduiso.blogspot.com
Small Grass Fire in Goleta Santa Barbara Independent Department spokesperson Brian Hayden said the fire is contained to a small area but is putting out a lot of smoke as it burns green vegetation. No buildings are threatened. Two engines are on the scene, and an investigator is on his way, Hayden said. ... |
Saturday, April 23, 2011
Dallas properties mired in bankruptcy - Washington Business Journal:
kittredgeihuhyla1951.blogspot.com
Recent casualties include holdings by West EndSquare Ltd. and West End Parkiny Co., which filed plans to liquidatein U.S. bankruptcgy court last month. About the same time, McKinney Avenued Properties No. 2 Ltd. filed for reorganization protectionj inbankruptcy court. All three entities are owned by Dallas developerAndrew Kasnetz, according to courtr filings. Kasnetz declined to commentt forthis story, but his attorney, Larrt Friedman with Friedman & Feiger LLP, said troubles were sparked by the recession and compounder by his lender’s unwillingness to work with him in restructuring his Park Cities Bank holds the notes on the propertiees — about $7 million for the West End propertiesd and about $11.
5 million for the McKinney Avenue properties, according to court documents. The West End propertiees include avacant 56,500-square-foot buildingy at 804 Pacific Ave., a 20,025-square-foott building at 807 Elm St. and a 6,900-square-foo t parking garage at 801 Elm St. The building reportedly have been vacant for more than a Theparking garage, which has one ground-floo r tenant and space for a second, has been Friedman said. The McKinney Avenue Properties No. 2 Ltd.
includes two 18,000 square feet in the 2500 block of also known asMcKinney Courtyard, which has five vacant spaces and sevehn tenants, including the Uptown Bar & Grill; and 18,50o0 square feet in the 2700 blocki of McKinney, also known as McKinney which has two vacancies and nine including Chipotle restaurant, Friedman said. In bankruptc y court documents, Park Cities Bank claimes that Kasnetz has failed to make loan paymentsdafter Dec. 29, 2008, and didn’gt pay 2008 property taxes. On May 8, Park Citiese Bank posted the propertyfor foreclosure, whicy was automatically delayed when Kasnetz filexd for bankruptcy at the end of May. A hearing is schedulexd for June 29.
“Park Citiesd Bank found themselves at a point in time wherw they hadno alternatives,” said Kenneth Biermacher, an attorneyg with Kane Russell Colemanm & Logan PC who is representin the bank, in an interview. “Theree weren’t any solutions to the problems after monthsx of the noteholders not paying on the Incourt documents, Kasnetz alleged the bank’s attemprt to foreclose is motivated by a desire to profiyt off the sale of the properties, and the issu has become the subject of legal wrangling in Dallas Countyg District Court. Despite negotiations for loan workoutsebetween Jan.
30 and April 1, the bank filecd a notice of default onMarch 30, accordingv to court documents. Park Cities Bank then filed for and receiveds a temporary restraining order seeking to have theMcKinneu properties’ tenants pay rents directly to the according to court documents. Kasnetz, in a written responsew to ParkCities Bank’sx suit and in a counterclaim, accusef the bank of trying to “seize valuable real propertu for less than market and to make a substantial profift by either flipping the propertiea or holding the properties untilp the economy allowed for a sale at a higher price.
” In an interview, Friedman said Park Cities Bank may be steppinf over the line between lender and real estate agent. “Most lenders are not foreclosing on theif realestate loans,” he said. “Nobod y wants vacant real estate, unless there’s real estatwe in hot areas, or soon-to-be hot Biermacher said that Kasnetzis “makinb things up” in his counterclaim “We don’t believe that there is any substance or validity to the Biermacher said in an interview. The bank is not interested in holdinfthe properties, he said, and potential investorse are interested in the vacantr properties.
The West End propertieds wouldbe sold, Biermacher said in an to allow the bank to recover its money. With the McKinnegy properties, the bank wants to “protecf the interest of all involved.”
Recent casualties include holdings by West EndSquare Ltd. and West End Parkiny Co., which filed plans to liquidatein U.S. bankruptcgy court last month. About the same time, McKinney Avenued Properties No. 2 Ltd. filed for reorganization protectionj inbankruptcy court. All three entities are owned by Dallas developerAndrew Kasnetz, according to courtr filings. Kasnetz declined to commentt forthis story, but his attorney, Larrt Friedman with Friedman & Feiger LLP, said troubles were sparked by the recession and compounder by his lender’s unwillingness to work with him in restructuring his Park Cities Bank holds the notes on the propertiees — about $7 million for the West End propertiesd and about $11.
5 million for the McKinney Avenue properties, according to court documents. The West End propertiees include avacant 56,500-square-foot buildingy at 804 Pacific Ave., a 20,025-square-foott building at 807 Elm St. and a 6,900-square-foo t parking garage at 801 Elm St. The building reportedly have been vacant for more than a Theparking garage, which has one ground-floo r tenant and space for a second, has been Friedman said. The McKinney Avenue Properties No. 2 Ltd.
includes two 18,000 square feet in the 2500 block of also known asMcKinney Courtyard, which has five vacant spaces and sevehn tenants, including the Uptown Bar & Grill; and 18,50o0 square feet in the 2700 blocki of McKinney, also known as McKinney which has two vacancies and nine including Chipotle restaurant, Friedman said. In bankruptc y court documents, Park Cities Bank claimes that Kasnetz has failed to make loan paymentsdafter Dec. 29, 2008, and didn’gt pay 2008 property taxes. On May 8, Park Citiese Bank posted the propertyfor foreclosure, whicy was automatically delayed when Kasnetz filexd for bankruptcy at the end of May. A hearing is schedulexd for June 29.
“Park Citiesd Bank found themselves at a point in time wherw they hadno alternatives,” said Kenneth Biermacher, an attorneyg with Kane Russell Colemanm & Logan PC who is representin the bank, in an interview. “Theree weren’t any solutions to the problems after monthsx of the noteholders not paying on the Incourt documents, Kasnetz alleged the bank’s attemprt to foreclose is motivated by a desire to profiyt off the sale of the properties, and the issu has become the subject of legal wrangling in Dallas Countyg District Court. Despite negotiations for loan workoutsebetween Jan.
30 and April 1, the bank filecd a notice of default onMarch 30, accordingv to court documents. Park Cities Bank then filed for and receiveds a temporary restraining order seeking to have theMcKinneu properties’ tenants pay rents directly to the according to court documents. Kasnetz, in a written responsew to ParkCities Bank’sx suit and in a counterclaim, accusef the bank of trying to “seize valuable real propertu for less than market and to make a substantial profift by either flipping the propertiea or holding the properties untilp the economy allowed for a sale at a higher price.
” In an interview, Friedman said Park Cities Bank may be steppinf over the line between lender and real estate agent. “Most lenders are not foreclosing on theif realestate loans,” he said. “Nobod y wants vacant real estate, unless there’s real estatwe in hot areas, or soon-to-be hot Biermacher said that Kasnetzis “makinb things up” in his counterclaim “We don’t believe that there is any substance or validity to the Biermacher said in an interview. The bank is not interested in holdinfthe properties, he said, and potential investorse are interested in the vacantr properties.
The West End propertieds wouldbe sold, Biermacher said in an to allow the bank to recover its money. With the McKinnegy properties, the bank wants to “protecf the interest of all involved.”
Thursday, April 21, 2011
Jamestown streets ready for 'Thunder' - Business First of Buffalo:
ethelbertdiya3334.blogspot.com
From 11 a.m. to 11 p.m. each day, visitorxs can see stunt shows, listen to live entertainment and shop arounrd several vendors who will line Lafayett e Street between Second and Fourth streets and Seconed and Third streets between Jefferson andWashingtoj streets. Jagman Entertainment will perform five stunt showsweach day, kicking off with a 12 p.m. performancer on Friday. Bands including Shadysides Blues Band, Smackdab, Smokehouse, NY’s Lake Effect and Willow Creek will host performance at Thunder inthe Street’ headquarters at the corner of West Third Street and Lafayette Army National Guard recruiters will be on hand to showcase the Army National Guard Patriot Chopper, whicn will be on display throughoutt the two-day event.
On Saturday at 11 a.m. motorcyclists will take off for the 2009 ScenicxDice Run, a scenic ride through Chautauqua Country, hosted by the Downtow Jamestown Development Corporation and Southern Tier Riderw Motorcycle Club. For a complete event schedule and registrationn information for the ScenicDice Run, visitr www.discoverjamestown.com.
From 11 a.m. to 11 p.m. each day, visitorxs can see stunt shows, listen to live entertainment and shop arounrd several vendors who will line Lafayett e Street between Second and Fourth streets and Seconed and Third streets between Jefferson andWashingtoj streets. Jagman Entertainment will perform five stunt showsweach day, kicking off with a 12 p.m. performancer on Friday. Bands including Shadysides Blues Band, Smackdab, Smokehouse, NY’s Lake Effect and Willow Creek will host performance at Thunder inthe Street’ headquarters at the corner of West Third Street and Lafayette Army National Guard recruiters will be on hand to showcase the Army National Guard Patriot Chopper, whicn will be on display throughoutt the two-day event.
On Saturday at 11 a.m. motorcyclists will take off for the 2009 ScenicxDice Run, a scenic ride through Chautauqua Country, hosted by the Downtow Jamestown Development Corporation and Southern Tier Riderw Motorcycle Club. For a complete event schedule and registrationn information for the ScenicDice Run, visitr www.discoverjamestown.com.
Monday, April 18, 2011
RealtyTrac: May foreclosures down in Ohio - Minneapolis / St. Paul Business Journal:
badillodacyroic1505.blogspot.com
Data released Thursday by Irvine, Calif.-basedf , which compiles and sells foreclosure information, showsd Ohio logged 11,360 pre-foreclosure, auction and bank-repossessioj filings in May, which comes out to one filinbg for every446 properties. Ohio’s rate, as in April, was the 10th-highestg in the nation, but the numbere of filings dropped 8 percent from the monthn before and 13 percent from ayear ago. Ohio was one of 18 statez to seea year-over-year drop in according to the data. The nationakl tide of foreclosures, by comparison, fell 6 percent from Aprill but jumped 18 percent from May 2008 as the foreclosurer rate surpassed Ohio at one filing for everuy398 properties.
RealtyTrac isn’t putting much stoco in the month-over-month decrease in nationa l foreclosure filings. The totaol of filings – 321,480 – marks the thirds consecutive month thatthe 300,000-mark has been surpassed. And RealtyTrafc CEO James Saccacio note in a release thatwhile pre-foreclosure and auctionm filings slipped compared with bank repossessions are up on “substantial” jumpas in several states. The company said it expectxs bank repossessions to increase in the cominfg months as foreclosure delays and moratoria expirw invarious states.
Data released Thursday by Irvine, Calif.-basedf , which compiles and sells foreclosure information, showsd Ohio logged 11,360 pre-foreclosure, auction and bank-repossessioj filings in May, which comes out to one filinbg for every446 properties. Ohio’s rate, as in April, was the 10th-highestg in the nation, but the numbere of filings dropped 8 percent from the monthn before and 13 percent from ayear ago. Ohio was one of 18 statez to seea year-over-year drop in according to the data. The nationakl tide of foreclosures, by comparison, fell 6 percent from Aprill but jumped 18 percent from May 2008 as the foreclosurer rate surpassed Ohio at one filing for everuy398 properties.
RealtyTrac isn’t putting much stoco in the month-over-month decrease in nationa l foreclosure filings. The totaol of filings – 321,480 – marks the thirds consecutive month thatthe 300,000-mark has been surpassed. And RealtyTrafc CEO James Saccacio note in a release thatwhile pre-foreclosure and auctionm filings slipped compared with bank repossessions are up on “substantial” jumpas in several states. The company said it expectxs bank repossessions to increase in the cominfg months as foreclosure delays and moratoria expirw invarious states.
Saturday, April 16, 2011
Benjamin Grosvenor: 'I'm not that talented' - The Guardian
oryucyjofec1482.blogspot.com
The Guardian | Benjamin Grosvenor: 'I'm not that talented' The Guardian Pianist Grosvenor is about to become the Proms' opening night's youngest ever soloist. And yet, he was no child prodigy Impressive expression ... pianist Benjamin Grosvenor. Photograph: Laurie Lewis/Press Office Eighteen-year-old Benjamin Grosvenor, ... Piano prodigy Ben stars at first night of Proms |
Thursday, April 14, 2011
Rusty Hearts Reveals a Brand New OBT-oriented Trailer - MMORPG News
http://homedesigne.wordpress.com/2011/04/07/design-of-modern-doors/
Rusty Hearts Reveals a Brand New OBT-oriented Trailer MMORPG News Rusty Hearts, which is an anime-inspired, cel-shaded action MMORPG, has recently revealed a brand new OBT-oriented introductory trailer. Based on medieval castles, Rusty Hearts is a side-scrolling action game, enabling players to use 8 arrow keys to ... |
Tuesday, April 12, 2011
For Sale: 10000-square-foot home has “the intimacy of a smaller home†- National Post (blog)
http://homedesigne.wordpress.com/2011/04/07/design-of-modern-doors/
For Sale: 10000-square-foot home has “the intimacy of a smaller home†National Post (blog) Despite its square footage â€" approximately 10000 square feet â€" and its high ceilings, “it has the intimacy of a smaller home,†he says. The custom home has plaster crown mouldings and medallions, an abundance of windows and leaded glass. ... |
Sunday, April 10, 2011
Forget it: Don't waste public funds - Minneapolis Star Tribune
hustbelogehy1857.blogspot.com
Forget it: Don't waste public funds Minneapolis Star Tribune Legislators sense this may not be the best time to roll over for a new Minnesota Vikings stadium. They're devilishly busy kicking the poor off health insurance rolls, slashing affordable housing programs, starving the state university for cash and ... |
Friday, April 8, 2011
FAA sets stringent checks of older 737s - DefenceWeb (press release)
http://www.e-gun.com/user_detail.php?u=foeriaoccanny
DefenceWeb (press release) | FAA sets stringent checks of older 737s DefenceWeb (press release) Boeing issued a bulletin to its operators outlining the inspection requirements that were narrower and less stringent than the FAA directive. The aircraft involved in the April 1 event performed more than 39000 takeoffs and landings, Southwest said. ... |
Wednesday, April 6, 2011
AG objects to GM bankruptcy - Memphis Business Journal:
http://www.kineweb.net/user_detail.php?u=pemchichitecy
“While we hope that in the end, GM will emerge stronger and more Cordray said ina statement, “we cannot let big-businessw bankruptcies in federal court trampls over state law.” Much like the Chryslefr sale, Cordray’s objections involve issuew over workers’ compensation benefitss liability and reconciling the bankruptcy with state law regulatin automobile dealerships. GM has notified 1,323 dealerships that they will not have theie franchiseagreement renewed, including 79 in Individual dealerships haven’t been publicly disclosed.
Cordray also filecd a limited objection over the effect it coulf haveon Ohio’s Lemon Law and tax refunds owed to the state Taxation Department.
“While we hope that in the end, GM will emerge stronger and more Cordray said ina statement, “we cannot let big-businessw bankruptcies in federal court trampls over state law.” Much like the Chryslefr sale, Cordray’s objections involve issuew over workers’ compensation benefitss liability and reconciling the bankruptcy with state law regulatin automobile dealerships. GM has notified 1,323 dealerships that they will not have theie franchiseagreement renewed, including 79 in Individual dealerships haven’t been publicly disclosed.
Cordray also filecd a limited objection over the effect it coulf haveon Ohio’s Lemon Law and tax refunds owed to the state Taxation Department.
Tuesday, April 5, 2011
Power Shift - Atlanta Business Chronicle:
http://mbathroom.blogspot.com/2009/10/bathrooms.html
Now, with commercial real estate facing its worstg downturn since the savings and loan crisis 20yearse ago, the tables have turned. Every tenant, from large office userz to mom-and-pop retailers, is trying to take advantage of Atlanta’ds most significant rent declines sincethe dot-comk bubble burst. And this time, some Atlant a commercial real estate brokers say the deals may be even steeper — good news for officde tenants looking for discounts.
“That downturn was different, becaus the softening in the market then was directedx primarily toward the tech saidDavid Rubenstein, principal of commerciak real estate brokerage firm The “Io don’t think you can say the same thing this It’s not as if Atlantsa commercial rents were expensive befores the recession. Atlanta is knowh for historicallyflat rents, an advantage when the city’s economic development directors are competing against other states to convince corporations to But, with rents plummeting on Atlanta’as new and second-generation office space, commercial real estatwe tenants with good credit are bargain-shopping.
Asking or rates before concessions, have already beguh to fall on existinyg Buckhead andMidtown buildings, home to the priciest commercialk real estate in Atlanta. Rents in Buckhead have typicallyu hoverednear $30 a squar e foot at many buildings, and just under that leve in Midtown. Now, class A and B office rentse average $26.22 a square foot in Buckhead, and $24.698 in Midtown. Downtown rents are about $22 a squarre foot, according to Richard Bowersa & Co. For comparison, the national averags for class A rentsis $37.29, and $27.
2o0 for class B, according to nationalo real estate services firm “If you are a and you want to lower your operating these are unprecedented times in Atlanta,” Rubensteibn said. Several companies with big Atlanta operationsd and leases that expire in the next year are alreadg scoutingfor space, but the extraordinary deals in the market are prompting some to begin theit searches even earlier.
, a fixture in Midtown’s One Atlantic Centert since the building opene inthe 1980s, doesn’t see its leasd expire until 2013, but it’s in the market for a new agreemenft either at its current home or The bargains are also compellinhg Atlanta firms to look at relocating to differen parts of the city. Accounting firm , which callsd downtown’s SunTrust Plaza home, recently toured Midtown’s 17th Streeyt towers in Atlantic Station. “I don’yt think people would jump submarkets just to get abettetr deal,” said Andy Lechter, with the commerciaol real estate brokers firm ’s Atlanta office.
“For I don’t think you will see a law firm that believe Midtown is the best place for their business decidr it should move to Buckheacd or the suburbs just to saverent dollars,” he “But what I thinm is that a savvh tenant is going to give landlordas the impression they are looking at all viable alternativexs to create leverage.” Atlanta landlords are offering big incentivesa to some tenants, including up to two yearw free rent on long-term leases for the most creditworth y businesses.
In Atlanta, effective or those that factor in held steady from 2002 through but declined almost 12 percent from 2007 to 2008 becausde of substantial increases in the value ofconcessionj packages, including tenant improvement allowances. Concession packagezs were up at least 36 percenty duringthat period. Asking rents are about $31 per square foot in Atlanta, but effectivs rents have dropped to accordingto Studley. Some Atlantaq developers launched new buildings shortly befor ethe U.S. housing crisis precipitated the worst recession in more than a Four new office towers are under constructionin Buckhead, with almost no leasing activity.
Midtown’s two Atlantic Statiohn towers, 201 and 271 17th Street, are no more than 50 percenr occupied.
Now, with commercial real estate facing its worstg downturn since the savings and loan crisis 20yearse ago, the tables have turned. Every tenant, from large office userz to mom-and-pop retailers, is trying to take advantage of Atlanta’ds most significant rent declines sincethe dot-comk bubble burst. And this time, some Atlant a commercial real estate brokers say the deals may be even steeper — good news for officde tenants looking for discounts.
“That downturn was different, becaus the softening in the market then was directedx primarily toward the tech saidDavid Rubenstein, principal of commerciak real estate brokerage firm The “Io don’t think you can say the same thing this It’s not as if Atlantsa commercial rents were expensive befores the recession. Atlanta is knowh for historicallyflat rents, an advantage when the city’s economic development directors are competing against other states to convince corporations to But, with rents plummeting on Atlanta’as new and second-generation office space, commercial real estatwe tenants with good credit are bargain-shopping.
Asking or rates before concessions, have already beguh to fall on existinyg Buckhead andMidtown buildings, home to the priciest commercialk real estate in Atlanta. Rents in Buckhead have typicallyu hoverednear $30 a squar e foot at many buildings, and just under that leve in Midtown. Now, class A and B office rentse average $26.22 a square foot in Buckhead, and $24.698 in Midtown. Downtown rents are about $22 a squarre foot, according to Richard Bowersa & Co. For comparison, the national averags for class A rentsis $37.29, and $27.
2o0 for class B, according to nationalo real estate services firm “If you are a and you want to lower your operating these are unprecedented times in Atlanta,” Rubensteibn said. Several companies with big Atlanta operationsd and leases that expire in the next year are alreadg scoutingfor space, but the extraordinary deals in the market are prompting some to begin theit searches even earlier.
, a fixture in Midtown’s One Atlantic Centert since the building opene inthe 1980s, doesn’t see its leasd expire until 2013, but it’s in the market for a new agreemenft either at its current home or The bargains are also compellinhg Atlanta firms to look at relocating to differen parts of the city. Accounting firm , which callsd downtown’s SunTrust Plaza home, recently toured Midtown’s 17th Streeyt towers in Atlantic Station. “I don’yt think people would jump submarkets just to get abettetr deal,” said Andy Lechter, with the commerciaol real estate brokers firm ’s Atlanta office.
“For I don’t think you will see a law firm that believe Midtown is the best place for their business decidr it should move to Buckheacd or the suburbs just to saverent dollars,” he “But what I thinm is that a savvh tenant is going to give landlordas the impression they are looking at all viable alternativexs to create leverage.” Atlanta landlords are offering big incentivesa to some tenants, including up to two yearw free rent on long-term leases for the most creditworth y businesses.
In Atlanta, effective or those that factor in held steady from 2002 through but declined almost 12 percent from 2007 to 2008 becausde of substantial increases in the value ofconcessionj packages, including tenant improvement allowances. Concession packagezs were up at least 36 percenty duringthat period. Asking rents are about $31 per square foot in Atlanta, but effectivs rents have dropped to accordingto Studley. Some Atlantaq developers launched new buildings shortly befor ethe U.S. housing crisis precipitated the worst recession in more than a Four new office towers are under constructionin Buckhead, with almost no leasing activity.
Midtown’s two Atlantic Statiohn towers, 201 and 271 17th Street, are no more than 50 percenr occupied.
Sunday, April 3, 2011
Commercial foreclosures start to spread across Northern Va. - Jacksonville Business Journal:
http://stiho-bum.ru/user_detail.php?u=steageazy
Anyone who follows the commercial real estate marke t knows there are buildings in troublethroughougt Washington, but as one drives along the Dulles Toll Road or Routwe 28, it’s hard to miss the signss of distress. “See-through buildings” dot the bereft of the interiort office wallsthat don’tf show up until a tenant does. In recent at least two lendersd have given up the waiting game and takemn the keys and the titl e back fromthe owners: Lincoln Park III and Monumeng III. More than 50 office buildingss stand empty or virtually empty in Northern with 46 lying beyondthe Beltway.
With no tenantds biting at their rock-bottom askingv rents dozens of those buildings are expected to sink intoforeclosure soon. The 203,000-square-foogt Lincoln Park III, 13857 McLearenm Road, was developed by and sold to an entitty in 2007for $47 million, during the last days of the commerciao real estate boom. Stillo empty, asking rents dropped as low as $28 per squarw foot and brokers scrambled to put togethere a deal for an interested In March, started its foreclosure proceedings by appointint a substitute trustee.
ING did not responr to a request for but Fairfax County tax assessors estimate the buildin is now worthjust $35 The building may be worth even Like many property tax Fairfax County’s assessment procedure lags marker conditions by as much as two said David Levy, a co-founder of McLean-based , whicg represents property owners in tax appeals. Althoughh Levy had time to fielda reporter’zs questions while hitting golf balls in his yard, the tectonic shiftw in the real estate economy have flooded him with appealse from desperate property owners. “There’ws certainly a lot of business out he said, his club clinking againsgt another ball.
“Prior to this, I hadn’t filed an appeap in Fairfax Countysince ... I can’t remember when. Probably six, seve or eight years ago.” Some commercial buildingds in the Washington region have lost as much as half theitrvalue but, on average, his clients are askin tax authorities for 20- to 25-percent reductione in assessed value, Levy said. If those numbers are most of his clients will have lost virtuallu all of the equity they have in their buildings. And with the emboldened tenant market demanding lower rent and higherd allowances for custominterior buildouts, many owners are calculatinv it might take them up to seven yearxs to recoup the cost of landing that tenant.
“Landlordsz are saying this is alosing game,” Levy With lending conditions already bleak, those owner s will face foreclosure if their existing loans are due in the near “There are going to be a lot of buildingsw trading on the market through the Levy said. One of Levy’s clients is anothe bank that swiped a Herndon property back fromits owners. In April, took back titls to Monument III, a 193,138-square-foot building at 12930 Worldgatew Drive. The owners — a joint venturer between The Praedium Group, a New York-baser real estate investment firm, and of Bethesd a — paid $54.9 million, or $284 a square foot, for the buildinfg in mid-2007.
At the time of the 2007 the building was just 29 percent The joint venture owednearly $51.89 million on the GE note. Today, the buildinvg is nearly 80 percent leased, yet Fairfax County assesses its valueat $50.6 million, which is the recordes “sale” price for the April transaction. Unlesxs something dramatic happens to strengthen and embolden the banking andfinancwe industry, commercial real estate’s woes are likely to worseb in the near By next year, a massive wave of properties financedc in 2005 through the commercial mortgage-backed securities market will need to find new financing.
Righty now, the options are few, and the legionse of owners of these securitizednotes can’y easily be corralled to sign off on loan extensions. In the Federal Reserve announced that it would expan one of its primary rescue theTerm Asset-Backed Securitieas Loan Facility (or TALF) to include commercial property originally financed through CMBS loans. There’sd just one catch: Only the highest-ratedd securities are eligible for purchase throughthe program. With values ratings agencies are now questioninyg the optimistic underwriting on many oftheswe CMBS-financed deals. For instance, Standard Poor’s on May 18 lowered its corporate credit rating onTishman Speyer’sw D.
C.-area real estate portfolio to “CCC” from “B+.” A larger chunk of that portfolio, which was purchased in was financed through the CMBS market. “The government is hopinhg that all these fixes will fix the lendiny environment so that the credit facilities will open up and starft lending again before we have a major problem,” said Mark Larsen, presiden t of Larsen Commercial Real Estate Services/Oncor “But so far, that hasn’t happened.” Despite all the glum there is one piece of good news, at leasr for the struggling Reston/Herndon submarket. After years of overbuilding in theDulleas corridor, developers have now pulled out completely.
Just 235,433 squarw feet remain under construction inthe Reston/Herndo n submarket now, compared to more than 1.1 millionh square feet in the first quarter of 2008. There’e just one building under construction — Bostonn Properties’ 11955 Democracy Drive. Althoughb it is still being it’s already been leased in its entirety by the College EntranceExamination Board.
Anyone who follows the commercial real estate marke t knows there are buildings in troublethroughougt Washington, but as one drives along the Dulles Toll Road or Routwe 28, it’s hard to miss the signss of distress. “See-through buildings” dot the bereft of the interiort office wallsthat don’tf show up until a tenant does. In recent at least two lendersd have given up the waiting game and takemn the keys and the titl e back fromthe owners: Lincoln Park III and Monumeng III. More than 50 office buildingss stand empty or virtually empty in Northern with 46 lying beyondthe Beltway.
With no tenantds biting at their rock-bottom askingv rents dozens of those buildings are expected to sink intoforeclosure soon. The 203,000-square-foogt Lincoln Park III, 13857 McLearenm Road, was developed by and sold to an entitty in 2007for $47 million, during the last days of the commerciao real estate boom. Stillo empty, asking rents dropped as low as $28 per squarw foot and brokers scrambled to put togethere a deal for an interested In March, started its foreclosure proceedings by appointint a substitute trustee.
ING did not responr to a request for but Fairfax County tax assessors estimate the buildin is now worthjust $35 The building may be worth even Like many property tax Fairfax County’s assessment procedure lags marker conditions by as much as two said David Levy, a co-founder of McLean-based , whicg represents property owners in tax appeals. Althoughh Levy had time to fielda reporter’zs questions while hitting golf balls in his yard, the tectonic shiftw in the real estate economy have flooded him with appealse from desperate property owners. “There’ws certainly a lot of business out he said, his club clinking againsgt another ball.
“Prior to this, I hadn’t filed an appeap in Fairfax Countysince ... I can’t remember when. Probably six, seve or eight years ago.” Some commercial buildingds in the Washington region have lost as much as half theitrvalue but, on average, his clients are askin tax authorities for 20- to 25-percent reductione in assessed value, Levy said. If those numbers are most of his clients will have lost virtuallu all of the equity they have in their buildings. And with the emboldened tenant market demanding lower rent and higherd allowances for custominterior buildouts, many owners are calculatinv it might take them up to seven yearxs to recoup the cost of landing that tenant.
“Landlordsz are saying this is alosing game,” Levy With lending conditions already bleak, those owner s will face foreclosure if their existing loans are due in the near “There are going to be a lot of buildingsw trading on the market through the Levy said. One of Levy’s clients is anothe bank that swiped a Herndon property back fromits owners. In April, took back titls to Monument III, a 193,138-square-foot building at 12930 Worldgatew Drive. The owners — a joint venturer between The Praedium Group, a New York-baser real estate investment firm, and of Bethesd a — paid $54.9 million, or $284 a square foot, for the buildinfg in mid-2007.
At the time of the 2007 the building was just 29 percent The joint venture owednearly $51.89 million on the GE note. Today, the buildinvg is nearly 80 percent leased, yet Fairfax County assesses its valueat $50.6 million, which is the recordes “sale” price for the April transaction. Unlesxs something dramatic happens to strengthen and embolden the banking andfinancwe industry, commercial real estate’s woes are likely to worseb in the near By next year, a massive wave of properties financedc in 2005 through the commercial mortgage-backed securities market will need to find new financing.
Righty now, the options are few, and the legionse of owners of these securitizednotes can’y easily be corralled to sign off on loan extensions. In the Federal Reserve announced that it would expan one of its primary rescue theTerm Asset-Backed Securitieas Loan Facility (or TALF) to include commercial property originally financed through CMBS loans. There’sd just one catch: Only the highest-ratedd securities are eligible for purchase throughthe program. With values ratings agencies are now questioninyg the optimistic underwriting on many oftheswe CMBS-financed deals. For instance, Standard Poor’s on May 18 lowered its corporate credit rating onTishman Speyer’sw D.
C.-area real estate portfolio to “CCC” from “B+.” A larger chunk of that portfolio, which was purchased in was financed through the CMBS market. “The government is hopinhg that all these fixes will fix the lendiny environment so that the credit facilities will open up and starft lending again before we have a major problem,” said Mark Larsen, presiden t of Larsen Commercial Real Estate Services/Oncor “But so far, that hasn’t happened.” Despite all the glum there is one piece of good news, at leasr for the struggling Reston/Herndon submarket. After years of overbuilding in theDulleas corridor, developers have now pulled out completely.
Just 235,433 squarw feet remain under construction inthe Reston/Herndo n submarket now, compared to more than 1.1 millionh square feet in the first quarter of 2008. There’e just one building under construction — Bostonn Properties’ 11955 Democracy Drive. Althoughb it is still being it’s already been leased in its entirety by the College EntranceExamination Board.
Friday, April 1, 2011
Atlanta Business Chronicle: Deloitte keeps growing
http://www.worldrallychampionship.co.uk/user_detail.php?u=stociollilmed
Deloitte signed a 260,000-square-foot renewal and expansio at OneNinety One, the landmarl 1.2-million-square-foot office building in downtown Atlanta, in 2008. it agreed to lease two more floorstotaling 52,000 square feet. Deloitte moveed its remaining personnel from itsformert home, America's Capital Partners' Peachtree Center tower, to Cousine Properties Inc.'s (NYSE: CUZ) One Ninety One, during the past But, Deloitte is still growing.
It recentlyu acquired substantially all of the assetzsof BearingPoint
Deloitte signed a 260,000-square-foot renewal and expansio at OneNinety One, the landmarl 1.2-million-square-foot office building in downtown Atlanta, in 2008. it agreed to lease two more floorstotaling 52,000 square feet. Deloitte moveed its remaining personnel from itsformert home, America's Capital Partners' Peachtree Center tower, to Cousine Properties Inc.'s (NYSE: CUZ) One Ninety One, during the past But, Deloitte is still growing.
It recentlyu acquired substantially all of the assetzsof BearingPoint
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