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  • MarketFoolery: 05.23.2012

    Dell reports weaker-than-expected earnings and shares get crushed. And Facebook continues to deal with questions about its IPO.

  • MarketFoolery: 05.22.2012

    Facebook continues its slide.   Best Buy promises big changes.   JP Morgan suspends its share buyback.   And Volvo unveils a new engine.

  • MarketFoolery: 05.21.2012

    Shares of Facebook and Lowe's tumble.   Yahoo! makes a big deal. 

Posted at 04:33 PM ET, 05/23/2012

City preps for food pavilion at St. Elizabeths with farmer’s market


The Coast Guard’s new building is under construction on the campus of St. Elizabeths hospital. A new farmer’s market will open on the premises this summer. (Jahi Chikwendiu - The Washington Post)
A farmer’s market will debut this summer on the east campus of St. Elizabeths Hospital to gin up interest for the city’s planned restaurant pavilion at the Southeast project, District officials said Tuesday at the ICSC convention in Las Vegas.

Deputy Mayor Victor Hoskins said the open-air market will operate Saturdays and Sundays, a specific opening date has yet to be determined. It will be located opposite the west campus entrance on Martin Luther King Jr. Avenue SE, on the site of the future pavilion.

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By  |  04:33 PM ET, 05/23/2012 |  Permalink  |  Comments ( 0)

Posted at 02:59 PM ET, 05/23/2012

California teachers fund buys Lcor


Christopher Ailman, chief investment officer of the California State Teachers Retirement System. (Jonathan Alcorn - Bloomberg)
The California State Teachers’ Retirement System (Calstrs) has bought out Lehman Brothers’ majority stake in Lcor, the developer that has remade areas in Montgomery County, Fairfax County and other parts of the Washington region.

The more than 90 percent stake fetched more than $820 million.

The purchase was made in concert with management at Lcor, based in Berwyn, Pa., according to a statement issued by both companies. Lcor has offices in Bethesda and manages more than 7,400 residential units and 7.7 million square feet of commercial space, and it owns a stake in more than 5,000 units.

“We are extremely pleased to partner with such a quality company of experienced real estate professionals, and look forward to capitalizing on the substantial growth potential of this enterprise,” said Timothy Works, Calstrs’ portfolio manager, in a joint statement.

Lcor and Calstrs have worked together previously on multifamily investments, according to Peter DiLullo, Lcor chief executive and president. “Our partnership with Calstrs provides a solid foundation for growing our portfolio and executing on well-positioned, complex development opportunities, a business in which we have excelled over the last 30 years,” he said.

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By  |  02:59 PM ET, 05/23/2012 |  Permalink  |  Comments ( 0)
Tags:  Commercial real estate, LCOR, Calstrs

Posted at 11:57 AM ET, 05/23/2012

Brickman Group hires new chief executive

The Brickman Group, the Gaithersburg-based landscaping giant, appointed Andrew Kerin as chief executive officer and member of the board, effective immediately, the company announced Wednesday.

Kerin replaces Scott Brickman, who will become board chairman, succeeding his father, Dick Brickman, who will serve as chairman emeritus.

Kerin worked at Aramark Global Food, Hospitality and Facility Services for 16 years before joining Brickman.

The 73-year-old Brickman Group is the largest commercial landscape, maintenance and snow removal company in the United States. It employs more than 10,000.

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By  |  11:57 AM ET, 05/23/2012 |  Permalink  |  Comments ( 0)

Posted at 05:38 PM ET, 05/22/2012

Regal movie theater coming to Dulles Town Center

A new 10-screen, 2,000-seat theater by Regal Entertainment will open next year in Loudoun County as part of Dulles Town Center, developer
Movie attendees enter a Regal Cinemas theater on the opening night of "The Hunger Games.” The company will open a 10-screen theather next year in Loudoun County. (Jonathan Alcorn - Reuters)
Lerner Enterprises announced Tuesday.

The new theater will be attached to the existing Dulles Town Center mall, off of Leesburg Pike near Route 28, on the second floor between Sears and J.C. Penney. Construction will begin later this year and be complete in 2013, creating a new entrance to the mall and a box office.

The mall will remain open during construction. Eventually, Lerner envisions building Dulles Town Center into a 554-acre mix of offices and shopping. It has added restaurants including P.F. Chang’s and The Cheesecake Factory in recent years, as well as concept stores from Ann Taylor and Old Navy (Project ONE).

Movie theaters are rapidly expanding in Washington, largely due to strong demographic growth and better-than-average job numbers. And because the area has some of the wealthiest counties in the nation, some of the operators are offering luxury amenities including seat reservations, in-theater waitstaff, three-dimensional technology and reclinable seats.

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By  |  05:38 PM ET, 05/22/2012 |  Permalink  |  Comments ( 0)
Tags:  Movie theaters, Dulles Town Center, Lerner Enterprises

Posted at 03:30 PM ET, 05/22/2012

Rockville-based Edgar Online scooped up for $70.5M

Chicago-based RR Donnelley said Tuesday it will pay $70.5 million to acquire Edgar Online, the Rockville company that creates software to help corporations and investors manage and submit regulatory filings.

The value of the deal includes $1.092 per common share, assumption of debt and a payment equal to the redemption price of the preferred shares, the company said. It is expected to close in the third quarter.

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By  |  03:30 PM ET, 05/22/2012 |  Permalink  |  Comments ( 0)

 

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