Massive industrial park in Maryland to be sold at foreclosure
Baltimore A Carroll County industrial park near Baltimore is slated to be sold later this month after its owner allegedly defaulted on the $13 million loan it borrowed to buy the 147-acre property, according to the Baltimore Business Journal.
Alex Cooper Auctioneers has scheduled a May 20 sale of the 900,000-sq.-ft. Hampstead Industrial Center, where Jos. A. Bank Clothiers, Stanley Black & Decker and Solo Cup Co. lease space.
The park’s owner is a subsidiary of San Francisco-based BTR Capital Management, which bought the 20-building complex in 2005 for $16 million. BTR Hampstead LLC borrowed $13.2 million from Ixis Real Estate Capital of New York to finance that purchase.
Toys’R’Us raises $4.5 million for children’s charity
WAYNE, N.J. On April 29, Toys”R”Us was joined by leaders from the toy and baby products industries to celebrate the silver anniversary of the Toys“R”Us Children’s Fund Gala in New York City. According to the company, the event raised nearly $4.5 million for the charity. The Gala’s 25th anniversary milestone event was hosted by Emmy and Tony Award-winning comedian Martin Short, and featured a performance by five-time GRAMMY award-winner Faith Hill.
Additionally, Gala attendees pledged nearly $140,000 to support the Special Olympics Young Athletes program.
“In 1985, our company first gathered friends from the toy and baby products industries with a simple goal of giving back to children who need help most. Last night’s Toys“R”Us Children’s Fund Gala marked the 25th anniversary of what has become a beloved tradition in our industry and a celebration of how much we love kids,” said Jerry Storch, chairman and CEO of Toys“R”Us. “Thanks, in part, to the generosity of our business partners throughout the years, the Toys“R”Us Children’s Fund donates millions of dollars each year to programs that keep children safe and help them in times of need.”
Kohl’s gets more green accolades
MENOMONEE FALLS, Wis. Kohl’s Department Stores announced that it has received the inaugural Gold Edison Green Award at the annual Edison Awards Gala held on April 29 in New York City. The Edison Awards, associated with the Thomas Edison Papers at Rutgers University, symbolize the persistence and excellence personified by Thomas Alva Edison. Kohl’s receipt of the Edison Green Award recognizes the company’s commitment to developing sustainable solutions and green business models in an effort to reduce the community’s carbon footprint.
“Kohl’s is honored to be recognized by its peers for our ongoing efforts to improve our shared environment,” said Ken Bonning, Kohl’s EVP store planning and logistics. “By engaging associates, partners and members of the community, Kohl’s continues to operate our business with a commitment to environmental responsibility. From partnering in green building pilot programs to supporting renewable energy initiatives, we’re focused on long-term solutions that help protect the Earth’s resources.”
The Edison Awards, a peer-review honor, are voted on by roughly 2,000 members of the not-for-profit Marketing Executives Networking Group (MENG), America’s top executives and academics. Edison Awards are judged on marketplace innovation, marketplace success, technological innovation, market structure innovation, societal impact and design innovation.