Regional Business News Roundup

Strategic Insights -

Liberty Property Trust, a real estate development and management firm, has purchased a seven-property portfolio in suburban Minneapolis and Milwaukee for $31.7 million. The portfolio spans 510,000 square feet and is 98% leased. Notably, Bob Kiel, Liberty's senior vice president based in the Lehigh Valley, oversees the new properties and is also responsible for the new Milwaukee region and another Liberty expansion into Detroit. In other business news, Boeing Co. and the Navy have likely resolved a wing problem with the F/A-18E/F fighter, paving the way for the release of $2 billion to Boeing for a second batch of planes. Additionally, Ford Motor Co. has announced the actual distribution ratio for its spinoff of its 80.7% stake in Associates First Capital Corp. to Ford shareholders. Barnes & Noble Inc. has reported a 13% rise in fiscal fourth-quarter earnings, driven by strong holiday book sales.

Key Takeaways:

  • Liberty Property Trust has acquired a 510,000-square-foot property portfolio in suburban Minneapolis and Milwaukee for $31.7 million.
  • The portfolio is 98% leased, making it an attractive addition to Liberty's portfolio.
  • Bob Kiel, Liberty's senior vice president in the Lehigh Valley, oversees the new properties and has expanded Liberty's presence in the region.
  • Boeing Co. and the Navy have likely resolved a wing problem with the F/A-18E/F fighter, paving the way for the release of $2 billion to Boeing for a second batch of planes.
  • Ford Motor Co. has set the actual distribution ratio for its spinoff of its 80.7% stake in Associates First Capital Corp. to Ford shareholders.
  • Barnes & Noble Inc. has reported a 13% rise in fiscal fourth-quarter earnings, driven by strong holiday book sales.

Statistics:

  • Liberty Property Trust's deal for the 510,000-square-foot portfolio amounts to $31.7 million.
  • The portfolio is 98% leased.
  • Barnes & Noble Inc.'s fiscal fourth-quarter earnings rose 13% year-over-year.
  • Barnes & Noble Inc.'s net income before a charge was $69.8 million for the quarter ended Jan. 31.
  • The average estimate of analysts surveyed by IBES International Inc. was 96 cents a share.
  • Including a charge of $11.5 million for debt retirement, net income was $58.3 million, or 81 cents a share.
  • Revenue for the quarter ended Jan. 31 rose 10% to $969 million from $882 million.

Sources:

  • The Morning Call and wire reports.
  • Liberty Property Trust statement.
  • Boeing Co. statement.
  • Ford Motor Co. statement.
  • Barnes & Noble Inc. statement.
  • IBES International Inc. statement.