Daily Briefing

DAILY BRIEFING

April 01, 2009

Fixture maker moves to Columbia

St. Louis-based idX Baltimore, a manufacturer of fixtures for stores and custom millwork products, signed a lease for 434,490 square feet in Columbia Gateway Commerce Center in Columbia, commercial real estate firm CB Richard Ellis said Tuesday. The manufacturer will be moving from two separate buildings in Odenton to 8901 Snowden River Parkway. Sears had most recently occupied the building that idX is leasing. The building's landlord, real estate investment manager RREEF, bought the industrial building and two others in the park for $125 million in 2007.

Lorraine Mirabella

Property owner's common shares

Columbia-based office property owner Corporate Office Properties Trust said Tuesday it plans to issue 2.1 million common shares in an underwritten public offering and use the proceeds for general purposes and to repay debt under its unsecured revolving credit facility. The public offering is being made in conjunction with the company's inclusion in the S&P MidCap 400 Index after the market closes Wednesday. The company said it expects earnings to be 2 cents to 3 cents lower than the previously announced expectations of 73 cents per share to 83 cents per share and funds from operations to be 5 cents to 6 cents lower than the previously announced range of $2.48 per share to $2.58 per share. The company's shares rose $1.48, or 6 percent, to close at $24.83 Tuesday.

Lorraine Mirabella

Consumer index steady in March

NEW YORK : Americans seem more resigned to the hardships of the recession as consumer confidence stabilized in March after falling to an all-time low in February. But economists caution that any improvement in sentiment is fragile. Glimmers of better economic data helped stem further sharp declines in sentiment, which remains the lowest since 1967, when the index began.

Associated Press

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