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MIAMI-The 15-year-old, 200-store Fort Lauderdale, FL-based retailing chain reports net income of $1.7 million or five cents per diluted share for the first fiscal quarter ended May 4. That performance compares with a net loss of $6.3 million or 19 cents per share in the same 2001 period.
NEW YORK CITY-More than eight months after the Sept. 11 bombings shut it down, the first hotel ever to open in Battery Park City has once again put out the welcome mat. After hosting several events connected with the Tribeca Film Festival and a splashy reopening celebration, The Embassy Suites Hotel New York City is now officially 100% operational.
ATLANTA-The 451,920-sf of office in five buildings are 90% occupied. Apollo Real Estate Advisors LP of New York sold the total 564,120-sf property to the Birmingham, AL-based REIT for $88.63 per sf, below replacement cost of an estimated $150 per sf, construction industry estimators tell GlobeSt.com.
WASHINGTON, DC-Wrapping up its two-day Housing Forum, the US Conference of Mayors yesterday made their formal presentation to Congress. The next step, conference president Tom Menino tells GlobeSt.com, is a major lobbying campaign to keep the issues on the front burner.
DETROIT-More than 80 properties in eight communities, including Bay City, Manistee and Saginaw, may benefit from assessment and cleanup money from the US Environmental Protection Agency for contaminated sites.
PERTH AMBOY, NJ-A local developer wants to build a mix of affordable housing, 75,000 sf of commercial space including a supermarket and a parking deck.
AUSTIN-Stratus says it's a preventive measure in the event of a buyout. Execs say they don't know of any current attempts to make a play for the company, but the revised rights kick in if a buyer goes after 20% or more of the common stock.
ST. PAUL-David Williams replaces founder Curt Glaser, who remains chairman. The company has more than doubled its commercial loan servicing portfolio to $2.5-billion over last three years.
PHOENIX-The renovation team's been working for 18 months. The final piece is an "Oasis" for the resort at the base of a desert preserve. The water project calls for an 83-foot tower, 10,000-sf wave pool and other perks.
CHULA VISTA, CA-Two buildings sell in the Southrail Business Park complex. The value of the deal is not disclosed, but Westcore Industrial Properties bought the complex in January for $12.4 million.