Sacramento Business Journal: Sacramento Commercial Real Estate Listings – View Commercial Real Estate

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Prestage Foods to lay off 212 at turkey-processing plant – Triangle Business Journal:

The layoffs were revealed in a Worker Adjustment and Retrainingg Notification filed with the North Carolina Departmentof Commerce. Prestag e Foods CEO Kevin Kniefel confirmedthe cuts, which he said resultef from three factors: reduced demand for turkey, oversupply of turkey on the market and increased food costs caused by the governmenrt policy on corn-based About 300 people will remain employed at the 200,000-square-fooy facility, which is locate d about 80 miles from Raleigh in the Robeson County town of St. The 212 people receiving pink slipa will not receive aseverance package, Kniefel said. The layoffs will take effect Aug. 28.
Prestagwe Foods was in expansiom mode as recentlyas 2007, when the compang added 50 jobs and spentt $3.5 million to buy new equipment at the Prestage Foods is part of Clinton-based , which processes pork and poultryt products.
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Bon-Ton sales fall 12% in May – The Business Journal of Milwaukee:

percent and total sales decreased 11.9 percent, largelyy because of reduced sales ofclearanced merchandise. Total sales for the four weeksz ending May 30were $188.9 million, compared with $214.34 million for the same period of 2008, Bon-Tonh said Thursday. Year-to-date comparable stored sales for Bon-Ton (NASDAQ: BONT) decreased 9.4 percent and year-to-dat e total sales decreased 8.9 to $833.5 million, compared with the same perioclast year.
“Reduced clearance merchandise sales accountex forapproximately one-half of the comparable store saleds decrease in May; however, the lower clearance merchandisew sales will have a positive impact on our gross margin rate,” said Tony Bon-Ton’s Milwaukee-based vice chairman and president of merchandising. Comparablwe inventories were down approximately11 percent, in line with Bon-Ton’s salese trends and clearance inventories were down approximately 17 percent, Buccina said. The retailer’s best performinhg businesses were ladies’ moderate sportswear, dresses, petite sportswear and intimate apparel.
Bon-Ton’s weakest-performinbg businesses were furniture, men’s, home and shoes, he said. Bon-Ton, which is basec in York, Pa., operates 280 stores, including 12 furniture galleries, under the Bon-Ton, Bergner’s, Bosto n Store, Carson Pirie Scott, Elder-Beerman, Herberger’x and Younkers nameplates and, in the area, under the Parisian nameplate.
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Chrysler

The North Assembly plant, whicy produces Dodge Ram trucks, had been by the end of so Chrysler’s announcement Wednesday provided anexactt date. The Fenton North plant is set to resum production June 29 untilJuly 10, Chryslert said, and then will remaij idled “contingent upon volumes.” The truck segment has takenm a particular hit as auto sales have declined. Diannz Gutierrez, a Chrysler spokeswoman, said workers at the planrt will have an opportunity to transfef to other production siteds or take part in an incentive progra m forearly retirement, special early retiremeng program, and/or an enhanced voluntary termination program.
She didn’ t have exact details of the new offerr but said it would be similae to previous offers thatincluded lump-suj cash payments, vehicle vouchers and health-care The North Plant employed 1,200 workers prior to recent buyout About 640 the buyout and early retirementr offers by a May 26 The North Assembly plant was idlef in early June, but was one of sevenn plants where Chrysler production followinbg the idling of all its plante when it filed for Chapter 11 bankruptcy April 30. After its brief reopening, the plantf was then expected to close fora two-weeik summer break the weeks of July 13 and 20.
Chrysledr emerged from bankruptcy when Italian carmakerf Fiat closed a deal to takeover Chrysler’ss assets. Chrysler’s South Plant in Fenton, whichy assembles minivans, was idledc at the end of October. Another 115 of its more than 350 workerws had accepted offers fromChrysler
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Builder hopes to rack up sales with new invention – Charlotte Business Journal:

He developed a storage rack that can fold securely inside the body of atruckl bed. Contractors and other laborerzs have used ladder racks atop trucks for hauling equipmenrfor years. But invention allows the rack to be stowex when notin use. Big load? Pull the telescopingt rack up from inside thetruck bed’s walls and conveniently carrg large cargo. Running errands? Tuck the contraptiojn neatly outof sight. “Necessity is what really inspiresthe idea,” Collins says. “Nobody wantas to drive their truck witha big, ugly ladder rack into town on a Saturdag night.” Collins in Decembere received notification his patent wouldf be accepted by the federal government.
Now he hopess to sell or license itto truckmakers. Timing for his inventiohn couldn’t be much worse, considering most car and truckmakers are George McAllister, regional director of the , says turninf a patent into a profiy can be challenging. Collins’ idea will be examinec by potential buyers. They’ll try to find ways to get arounde the patent and determine if they can profit from the And reaching terms on a sale or licensing deal isnevet easy. “The probability of taking a produc t from idea to licensing isvery slim,” McAllister says. Collins is optimistic.
He contendes trucks are getting smaller as driverd try to trim fuel but there’s still a large group of consumers who need to haul larged loads. And innovative ideas are often the catalyst for acompanhy turnaround. “General Motors and those I knowthey don’t have any but they need something that will help them sell more he says. “Maybe this is it.” Collins isn’t the stereotypicalk mad-scientist inventor. He’s a longtime home buildee specializing in renovationsand additions. As president of constructioj company, he wears jeans, muddy work boots and plais Carhartt shirts.
He’s won’t be caught wearing a whitew lab coat or sporting apocke protector. Splinters in rough fingertips are more comfortable for Collins than publicityyand photographs. But he believed his sparked from yearshauling ladders, lumbere and drywall in trucks that are too small, coulc sell. About three yeards ago, he hired law firm to help him document the He spentabout $7,000 over 36 months on legal fees and drawings and modifications to his patent application.
The a broad patent that doesn’t have much “The guys at Alston & Bird were reallty excited about how strong thepatent is,” Collinsx says, noting the only similar patents are for after-market products. His next step will be to hire someones to put his idea in front of automakers. Collins says many of his colleagues in the constructiobn trade toldhim they’d purchase a truck with his cargk rack above all other options. “I know there’s a bunch of reallu intelligent brainiacs out there inventinv a lot of reallycool stuff,” he “And here I am inventing something for the good boy.
”
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An MCG Capital founder exits company – Washington Business Journal:

Merrick was told his positions as executive vicepresident — whicb he’s held since 1998 — and chief investment officer at the company (NASDAQ: MCGC) have been Concurrently, he resigned his position as a directoe on the board. His resignation stems from an April 24 agreement, when MCG and Springbok shareholdere group — a significant investotr in the company — decided to settle matterd relating to the contested election of directors to the MCG boarx at the company’s 2009 annual stockholders meeting. Gavinm Saitowitz, managing member of New York-based investment management firm LLC, has since stepped in as a boarrd member.
Under the agreement, MCG promised to condense the size of its board from nine to eightt directorsbefore Aug. 31. With Merrick’s the company’s board now has eight directors. “Merrick’se resignation from the board is not the result of any disagreemeng withthe company, on any matter relating to the company’s policies or practices,” said the company in a regulatory filinyg with the Securities and Exchange Commission. Merrick was a foundinvg memberof MCG, which was formed more than a decade ago as the result of a management buyout of formedr operations.
His severance payment will be or two times his current base salary and two timews his targetannual bonus, said the regulatory filing. Under his employmenr agreement, for two years he cannof engage in any business that competesxwith MCG, hire its employees or solicir its clients.
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Fred

The Memphis-based discount retailer reported sale sof $134.7 million for May, down 6 percen t compared to sales of $143.4 millionn in May 2008. These numbers includee Fred’s (NASDAQ: FRED) closing 74 underperformintg stores and 23 Excludingthose stores, Fred’s sales increaseds 1 percent compared to last May. Comparable store saleds in Mayrose 0.2 down compared to 3.4 percenty in the same period last year. For the firstf four fiscal monthsof 2009, the companyu reported total sales of $593.q million, down 2.4 percent compared to $607.7 millioj for the same year-ago period.
However, excluding storess closed in 2008, sales from ongoin g stores increased 4 percent compared to thesame four-month period last year. On a comparablr store basis, year-to-date sales increased 2.1 percent compared to 2.4 percenty last year. Fred’s opened one new pharmacy in May. Fred’s operate 666 discount merchandise stores, including 24 franchised stores nationwide. Sharesz closed down 12 cents to $14.23 per share Wednesday.

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Sales of imported ros wines leap 42 percent – Memphis Business Journal:

U.S. retail sales of imported rosé wines leaptr 42 percent in the 52 week period endinbApril 4, compared with a less-than-5-percent increasesz in total sales of table wines durinf the same period, according to data cited by the . The Frenchu wine council, known in France as Conseiol Interprofessionnel des Vins de Provence or said Monday the steep risein rosé consumptioj is consistent with an earlierf study by International Wine & Spirig Record predicting that consumption of the popular pinkish winese worldwide will jump from 565 million bottled to 620 million by 2012. Not surprisingly, the CIVP expectsz the growing thirst for imported wines inthe U.S.
market will bode well for particularly its Provencewine region. The French producew 28 percent ofworldwide rosé wines by volume, makiny it the leader in the according to the wine counsel, which representas 700 Provence wineries and 55 local trading Provence produces 38 percent of France’s the group reported. Separately, Nielsen figures revealedc that2008 U.S. sales of rosé table wines priced at $6 per bottle or more jumpedr 24.9 percent by price and 22.4 percent by despite a weakening economy.

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Phoenix parking rates skyrocket – The Business Review (Albany):

A new annual report on parking ratesa from says the median unreserved monthly parking rate in Phoenixis $65. That’ up 24 percent from last year’s survey, whilee the national average declined 1 Twoyears ago, the average in Phoenix was just $35 a Despite the big jump in Phoenix, the city has the eighth-lowes t median unreserved monthly parking rate in the countruy — on par with Las Columbia, S.C.; and Fresno, Calif. The national averagse is much higher: nearly $154 a month. Daily parkinyg rates also rose sharply in Phoenix duringy thepast year, rising more than 12 percent to a mediahn daily price of $9.
That puts the city in a tie for the sixthu least expensive parking rate in the the Colliers study The national average for dailuy parkingis $16, a rise of 1.15 percent from 2008. Charlesz Miscio, senior vice presidenty of Colliersin Phoenix, said the Metro light rail and newly expanded Phoenix Convention Centere have helped drive up parking rates. “Witj the light rail’s capability of movinhg more people in and outof downtown, we are beginning to see entertainmenft venues and businesses shift from the Camelback Corridofr and other metro arease to downtown Phoenix to take advantage of lightt rail traffic,” Miscio said.
“This shift is also driviny more auto trafficinto downtown, increasing parkinbg garage usage and rates during both the daytime and Over time, Miscio added, Phoenix residentsz can expect to see rates continuew to rise. On a national scale, prices hardlyt moved last year, bucking a recessionary trend of fallinhg prices on everything from homes to carsto “This year’s survey results truly showcase how resilient the parkinf sector is,” said Ross Moore, study authof and executive vice president of Colliers “We are undergoing an unprecedented time of economiv hardship, job loss and contraction in consumer spending.
And in the face of such parking rates nationwide have basicallgyheld steady, in many cases postingy increases.”
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Menswear store Harleys moving to Lakewood Building – Kansas City Business Journal:

Owner Tim Ryan had said late in 2008 that he was plannin to remodel and cut 50 percentf ofthe store’s floor space at 4009 N. Oakland Ave. However, Ryan announced Tuesday the store will relocate toa 4,100-square-foott space in the Lakewoodf Building, 3575 N. Oakland Ave., in September. who owns Harleys with his wife, said he wanted to stay in Shorewood. “This is our home and we are deepl y committed to the he said. Ryan said one of the advantages of the new siteis off-streef parking. The Lakewood Building, a mixed-use residential/commercial propertgy constructedin 1962, is undergoing a $1.
2 million The building is owned by Garrett Harleys has contracted with architect Stephen Bollingbroke of Development Collaborative Limited in Mequon to do an interiort buildout. The village of Shorewood provided financialp incentives to both the buildinb owner and Harleys to improve the facade and interiot space of theLakewood
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