A Seattle investment fund has paid $14.75 million for a new industrial building in Everett. The Columbia Pacific Opportunity Fund is buying the class A building, which has 217,700 square feet. It’s situated on 11.5 acres at 6617 Associated Blvd. near Merrill Creek Parkway not from the Boeing Co. CB Richard Ellis will handle management of the property, according to Mesa West Capital, which is providing money for the acquisition and leasing costs.
Seattle drivers dubbed greenest
Puget Sound area drivers are the “greenest” in the nation, according to a survey in the new issue of Men’s Health magazine. The publication ranked Seattle No. 1 when it looked at 2005 and 2006 data on gas consumption, miles traveled, air quality, vehicle efficiency and mass-transit usage. Portland, Ore., and Spokane also ranked in the top 10.
Shoppers still not buying
Shoppers remain tight-fisted with their spending even though the majority have received their stimulus checks, according to figures released Tuesday by the International Council of Shopping Centers. For the week ended Saturday, same-store sales fell 0.6 percent from the prior week. On a year-over-year basis, same-store sales rose 2.2 percent, a bit stronger than the prior week, according to the association’s weekly index, which tracks sales of about 40 retailers. Same-store sales are sales at stores open at least a year and are considered a key indicator of a retailer’s health.
New iPhone costs $173
The cheapest model of Apple Inc.’s new iPhone, which is about to go on sale for $199 in the U.S., costs about $173 to make, according to an estimate by research firm iSuppli Corp. The phone, which updates last year’s model with faster Internet speeds and an improved navigation feature, goes on sale on July 11. The retail price is subsidized by the exclusive carrier, AT&T Inc., which will get its money back with monthly service fees. ISuppli estimates that AT&T will subsidize each phone by $300.
Countrywide deal almost done
Bank of America Corp.’s takeover of Countrywide Financial Corp. could be wrapped up as early as next week, but first it must clear one last hurdle — getting the OK from the struggling mortgage lender’s shareholders. Countrywide shareholders are scheduled to vote on the proposed buyout Wednesday morning during a special meeting at the lender’s headquarters in Calabasas, Calif. The all-stock deal, valued in January at about $4 billion, is now valued at around $2.8 billion, reflecting a decline in Bank of America’s stock prices.
American adds Internet flights
American Airlines says customers will be able to test in-flight Internet access on two flights beginning Wednesday, with broader service expected to begin in the following couple weeks. American’s technology partner, Aircell LLC, will charge $9.95 to $12.95 for Internet service, depending on flight length.
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