Silver lining: County hopes good demographics will help retail break through economic gloom - Kansas City Business Journal:

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Unfortunately, getting all the necessary approval s from the city of Overland Park took longerthan expected, largelty because of a pioneer cemetery near the “The cemetery isn’t part of the site,” said a longtime Johnson County retail “But five of the graves were in the way of puttinv a turn lane and a sidewalk in there. So I had to go througj a yearlong process of movingthosse graves.” Now, Waters is attempting to exhume Crystal which includes 36 acre s for retail and 60 acres for offices on 135tb Street between Quivira and Pflumm roads.
Durinf the two years prior to completion of development work at the site in SouthernJohnson County’s retail vacancy rate nearly doubled to the 10 percen mark, where the metro-wide market has hovered for the past few years. Waters and others trying to fill Johnsohn County retailcenters said, the county’s superior demographics continuew to give it an edge in attracting new “We’re still seeing some decentr activity from small local and regional users,” said Matt senior vice president of .
however, said he won’gt be able to take advantage of that demand until he landa a large anchor or two from a fielxd that has been thinned by the recent bankruptcie sof , and othetr national chains. “I don’tt want to anchor a 36-acre shoppingv center with a nail salon,” he said. “Ancd if I do 30,000 or 40,000 square feet of smallo shops to kickit off, that’s what I’j going to have in there. Plus, once I build a retaio strip center on one ofthe pads, I’m committed. I’vde got a building sitting there that couldx be in the way of abig anchor.
” Waters said he is certaimn he would have landed an anchor already had Crystal Springs been pad-ready two yearxs ago. Seeking anchors in a recessioj is alot tougher, he acknowledged, but it’s possible that the downturjn could work in his favor. “I f you’re a retailer bein pressured by Wall Street to increasde your volumeof sales, you’re not going to put that new 200,000-square-fooy store in Phoenix, where the housing market is totally in the or Detroit, where unemployment is off the chartx and all three automakers are in trouble,” Watersw said. “If they’ve got mone y to invest, retailers are goinhg to look for thebright spots.
And Johnson Countyg is one of thosebright spots.” Withib a one-mile radius of Crystal Springs, for instance, the averag household income is projected to rise to $162,294 in 2010 more than two and a half timese the metropolitan Kansas City average projectedr for 2010. With those kind of it wasn’t surprising that 12 new shopping centers were beingf developed five years ago onthe seven-mile stretch of 135thg Street in Overland Park and Leawood — then Johnson County’s hot, new retailo corridor.
But today, some of those centers are struggling to find tenants despitrtheir demographics, and amongf the retailers beyond their reach are the many with locatione on 119th Street the county’s previous hot east-west “Coffee Creek is the next logical step for retailers who alreaduy operate successfully on 119th Street,” said Jeff a senior vice president. He is marketing the 1 million-square-foo t Coffee Creek shopping center planned for 159thn Streetand U.S. Highway 69 in Overlandd Park. Within a three-mile radiues of the Coffee Creeki site, the average household incomedis $171,000, Berg said.
But rooftops in the area remainhtoo sparse, he said, so the center’ first-phase opening has been pushed back from 2011 until the housinyg and retail markets thaw. “We are leapfrogging Corbib Park,” a 1.1 million-square-fooy retail center under development at 135tg Street and Metcalf Berg said. “That’s a great but if you’re a retailer who is on 119tu Street already, do you go to Corbin and closw or compete with yourgood store, or do you just followe the growth further south?
” Developed by Omaha-based , Corbin Park featuresw two large anchors — a departmentt store and — and has signedx a few junior anchors, including Best Buy and Barnew & Noble. But several other juniofr anchors and smaller tenants are neededc to build thecenter out, and each groulp may be waiting for the othe r to pull the trigger. “All of thos junior anchors are dependent uponthe co-tenancyg of the small shops, and vice versa,” said Vaupelk of RED Brokerage. “So I don’rt know where Corbin Park stands.” A spokesman for Cormac Co. did not responf to an interview request.
But Bob Johnson of , a Kansas City retail adviser and brokerage, said the vacan t and planned retail space alongv 135th Street will be absorbed once theeconomy

Maderis stepping down from Five Prime - Pacific Business News (Honolulu):

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The company has hired Julia the former executive vice president and chiefg financial officerat , as replacement. Maderis’ health condition was not but she will continue to serve onFive Prime’s boardd of directors and as a consultant. Her final day on the job is June 18. “Gail’s leadership has been pivotal in the progress Five Prime has made in developingh our pipeline and our new discovery said company founder and executivechairmab Dr. Lewis “Rusty” Williams in a press release. Maderizs said the company had been looking for a replacement sincw late last year after doctorssaid "ther 24/7 pace of a small-company could worsen her condition.
Besides her duties at Five Prime, Maderisz has been a cheerleader for the MissionhBay enclave, serving on the Mayor’s . Five Prime, a privately held, 7-year-old company developing antibody and protei n drugs for cancer andother diseases, was the first to locate in Mission Bay, taking abour 30,000 feet in the buildingf on Owens Street. Earlier this year, it took an additionap 5,000 square feet next door at 1700 Owens as it makesa batches for its Phase I oncology drug program. The timing of the executive chang as Five Prime moves forward with its lead cancer progranmmakes Gregory’s appointment a crucia l one.
At Lexicon, Gregoryh was responsible for financing strategies, mergers and business operations and all financial management and She raisedabout $1 billiomn in public and private equity, product developmentr financing and other Gregory, who will join Five Prime’s board, was an investmenyt banker for more than 20 years. At and Read & Co. Inc. she was head of healthcare andinvestmenyt banking, leading several private and public equityu deals as well as mergers and acquisitions. Gregorhy also is a member of the boarde of The andthe ’s .

Album review: "The Gospel Side of Dailey & Vincent" - Washington Post

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Album review: "The Gospel Side of Dailey & Vincent" Washington Post Your update/correction will be reviewed by the Going Out Guide staff. Thank you for writing to us about washingtonpost.com's Going Out Guide. Thank you for submitting a listing for washingtonpost.com's Going Out Guide. We will review your submission ... and more »

Minneapolis / St. Paul Business Journal: Minneapolis / St. Paul Commercial Real Estate Listings - View Commercial Real Estate

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S. Fla. developer plans $200M Celebration project - Orlando Business Journal:

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The South Florida-based development company will open a sales center in downtownn Celebration by late summer forthe , a two-phases project. An on-site sales center will folloqw later inthe year, and constructiojn will begin in mid-2008. Pre-construction prices for the 441 luxurty art deco units rangefrom $350,000 to $1 million. The firstt phase, which includes more than half the totak units plus allthe resort's should open in late 2010. The second phase will follo w six to 12 months depending on thesales pace. However, news of the project has at leastt one local industry expert scratching his head over the decisiojn to buildthe condo-hotel project now.
"There'a no need to even read the tea saysAbe Pizam, dean of the at the Universityh of Central Florida. "Peoplee are afraid of real estate; people have lost a lot of This is not a particularly wise Amarket exception? But both company Chairman Jorger Perez and , which developed the master-plannecd Celebration community in 1995, say Icon is an exception to the currenft market trend. The project will be locatex at the edgeof Celebration's downtown at 1750 Celebratiohn Blvd., which will make it attractive to buyerzs who want to adopg the attitudes and lifestyle of the says Matt Kelly, presidentg of the , Disney's development arm.
Perezz believes Central Florida's condo-hotel market is not badly saturatede when compared withother markets. In addition, he believes beinf part of Celebration provides a uniqueselling advantage. "Unlike some projectsa in inferior, high-traffic, tourist-laden, T-shirt shop-type locations, we will creatd a home away from home for our he says. "Our buyers are not just buying a they are buying a partof Celebration." The project's hoteo will be managed by , a Minneapolis-based luxury hotepl operator with nine hotels and five more unde r construction or in development.
Graves recently partnered with a German hotel marketing andreservationm business, to establish a worldwide reservation and marketingf operation. Hotel amenities will include two restaurants and alobby bar, a courtyard resort-style 14,000 square feet of meeting a 6,000-square-foot spa with another 2,5090 square feet of exercise space and a children's program. The one- and two-bedroom resoryt suites, will range in size from 700 square feetto 1,35o0 square feet. Kelly says the Celebratioj Co. believes the property is a good fit withinn the OsceolaCounty community. "They builsd with a lot of quality," he says.
"They have embracec our architecture anddesign quality, and they operate a top- quality operatioh in other cities." Founded in The Related Group of Florida has built and managed more than 55,0090 condo and apartment residences in major markets in Hispanic Business magazine named it the top companyt on its Hispanic Business Top 500 constructionh sector list last year, but bumped it down to No. 4 followingb a 56 percent dropin year-over-yearr revenue, from $3.2 billion in 2005 to $1.4 billiojn in 2006.
Revenue for the entire Hispanic constructiomn segment dropped 22 percent duringthat

S&P rates Virginia bonds AAA - Washington Business Journal:

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Virginia will use proceeds from the bonds to fund educationapl and park facilities and to retirseexisting bonds. “The rating reflects what we view asthe Commonwealth’ strong and broad-based economy that in the past decade has grownm at a faster pace than the nationaol average,” says Standard & Poor’s credit analyst Karl Jacob in his report. “The ratinyg also reflects what weconsider Virginia’sa strong financial position demonstrateed by good reserves, long history of proactivew and conservative financial management, and manageablde debt burden.
” Standard & Poor’s also says Virginia’s overallk economic strength, employment diversity and good income levels will offseft the near-term effects of the Standard & Poor’s also affirmed its “AAA” ratings on otherd Virginia bonds outstanding.

Douglas Development buys foreclosed Northwest site - Washington Business Journal:

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A public auction took place Thursday morninygat Ober/Kaler’s offices at 1401 H St. NW to sell the foreclosec Tenleytown property, which houses the vacanrt Babe’s Billiards site. The D.C.-based development company, whichy helped remake downtown’s East End, boughtt the 12,661-square-foot lot for $5 "Douglas plans to develo p the property into retail andofficee space, said Douglas president of the company.
About 60 to 70 people -- whicj included about 15 to 20 bidders that were mostlydevelopersa -- showed up for the “packed” auction, said Jeff Stein, vice president and regional manager of Tranzon Fox, a real estate auctio n company that conducted the markete foreclosure. The sale process, which typicall lasts 10 to 20 minutes, took half an hour, he The property is zoned for a residential orcommercial use. The scratched plan undet its owner Clemens Construction Consulting was tobuilf five-story, 36,000-square-foot condo called the Maximk at Tenley with 42 units and 49 parking spaces.