| TMS Truck Repair Sells Fontana Property
TMS Truck Repair sold the industrial property at 10001 Oleander Ave. in Fontana, CA, to Lee and Ferriline Wetzel for $3.8 million, or about $387 per square foot. The buyers will reportedly use the property to operate their trucking company. This 6.1-acre property is comprised of two industrial buildings totaling 9,800 square feet, two modular offices totaling 1,320 square feet, and two single-family homes. The property was used for a truck repair business by the seller. Sid Osborn and Armen Gourdikian of Cushman & Wakefield represented the seller. Mike Halliday of Delmar Commercial Real Estate Services of Rancho Cucamonga represented the buyer. Please refer to CoStar COMP #1275953 for additional information. .
Risky stretch of Rte. 17B set to be widened soon
This summer, the Department of Transportation will widen a half-mile section from Kaufman Road to Hamilton Road, at a cost of $1.9 million. The DOT will add a 12-foot lane and build two large culverts by this fall, said project manager Brian Doak, who works in the Binghamton office. The stretch runs in the Town of Thompson, just west of the Monticello Gaming & Raceway to the Kinnebrook manufactured-homes community. Here, the road narrows from four to two lanes. Here, the DOT says, drivers are twice as likely to get into an accident than in most other sections of Route 17B. There has been one accident for every 2 million cars, according to a 2001 study. That's twice the accident rate as the state average for a comparable road. But although many cars have crashed along this half-mile stretch, this is not the deadliest section.
US Homebuilders, Citigroup, Sainsbury: David Wilson (Update1)
April 11 (Bloomberg) -- Shares of U.S. homebuilders have given back most of the gains from a six-month rally, and more sales figures like the ones from D.R. Horton Inc. yesterday may wipe out the rest. D.R. Horton, the country's second-largest builder by revenue, said orders fell 37 percent in the first three months of 2007. The value of houses ordered from the Fort Worth, Texas- based company tumbled even more, 41 percent, to $2.6 billion. Chairman Donald Horton's response, taken from the company's press release, included this bit of understatement: ``The spring selling season has not gotten off to its usual strong start.'' When investors looked ahead in last year's second half, they expected better. A gauge of builders in Standard & Poor's benchmark U.S.
City seeking Katrina grant to elevate Orange Grove buildings
The city of Mobile is seeking a Katrina recovery grant to complete the stalled renovation of the Orange Grove public housing community and to elevate the 14 most flood-prone buildings. A Press-Register article detailing the agency's decision to renovate buildings in low-lying areas prompted the U.S. Department of Housing and Urban Development to start scrutinizing city projects funded with HUD money. Work on Orange Grove, which before renovation had 298 units, has been stalled since mid-2006 -- but not because of flood-plain issues. The contractor, Dawson Building Contractors Inc., quit work over a payment dispute and later sued the Mobile Housing Board. The renovations are intended to soften the edges of the barracks-style buildings and increase living space by combining smaller units, adding dormers to the roofs and expanding porches.
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