The sale of Medford Center, announced Tuesday, received applause from commercial real estate brokers.
Tom Fischer of Coldwell Banker Commercial NW in Medford thinks LBG Real Estate Companies princpals Leslie Lundin, Doug Beiswenger and David Goldman are the right people at the right time for Medford Center.
“Doug and those guys have done turnarounds of shopping centers in the past, and I think they are well-suited for the task at Medford Center,” Fischer said.
New Hyde Park, N.Y.-based Kimco Realty acquired Medford Center eight years ago as part of $4.1 billion deal with Pan Pacific Properties. But the global real estate giant treated the 55-year-old shopping center as an afterthought at best.
“Kimco always treated Medford Center like a forgotten child,” Fischer said. “They were never really on site and never quick to give attention
(LBG Real Estate) have a history that is much better. They are better in keeping contact with tenants and to be more aggressive to make it an active center. I see it as a definite positive move. They have plans and are excited about what Medford Center can be. I think it’s a great plus for a center that has been dealing with neglect.”
The National Independent Automobile Dealers Association reports its member dealers were wary of the nation’s economic direction leading up to the midterm elections, delaying plans to expand their businesses in the third quarter.
NIADA’s Third Quarter Member Business Confidence Survey showed member dealers expected to expand their business fell 5.9 percentage points from the second quarter to 26.3 percent, while those expecting to hire new staff dropped 6.3 points to 26.7 percent.
In addition, 11.9 percent fewer dealers said they expected their retail sales to grow in the upcoming quarter, 16.7 percent fewer expected their cash flow to improve, 14 percent fewer expected customer traffic to increase and 9.2 percent fewer expected economic conditions to improve.
The Oregon Small Business Association reports there are plenty of job openings in the northern part of the state.
The association reports Portland could see more than a thousand new jobs added to its economy from Aruba Networks, ShopKeep, eBay, Under Armour, CarMax, Fred Meyer and Cabela’s.