Home prices post biggest annual jump in two years

December 26, 2012 in Articles

Author: Chris Isidore
Publication: CNNMoney
The recovery in the housing market continues to pick up steam, as home prices posted the biggest percentage gain in more than two years in the latest reading of the closely followed S&P/Case-Shiller index.

The index showed prices up 4.3% in October compared to a year earlier. That's the best improvement since May 2010. But that earlier increase was due to a temporary spike caused by a homebuyers' tax credit of up to $8,000 on homes purchased in late 2009 and early 2010.

Old Navy Outlet to open in Freeport

December 21, 2012 in Articles

Author: Jessica Hall
Publication: Portland Press Herald

The Old Navy Outlet is under construction and is scheduled to open by Memorial Day weekend.

FREEPORT — An Old Navy Outlet aims to open in the Freeport Village Station by Memorial Day weekend, joining other outlet stores ranging from the Famous Footwear Outlet to Brooks Brothers and Coach Factory.

 

 

"We are very proud to bring Old Navy – one of the world's most popular brands – to Freeport," said Alfred Yebba, executive vice president and chief operating officer of Berenson Associates Inc., the Boston-based developer and owner of Freeport Village Station.

"Our customers are value-oriented, aspirational families looking for quality fashion at exceptional prices. We know that Old Navy Outlet will deliver on that equation," Yebba said.

Old Navy Outlet has a location in Kittery.

Old Navy and Old Navy Outlet are owned by Gap Inc.


VIP sells auto parts business to O'Reilly

December 18, 2012 in Articles

Publication: MaineBiz

The Lewiston-based auto service chain VIP is selling its automotive parts business to O'Reilly Automotive Inc.

The sale will convert all 56 VIP stores to O'Reilly stores in a new partnership where VIP maintains its tire and service business out of those locations, according to VIP Marketing Manager Jason Terry.

O'Reilly, one of the country's largest specialty retailers of specialty auto parts, will add more inventory to the parts business that VIP has operated since first opening in Lewiston in 1976.

John Quirk, VIP's president and CEO, said in a press release that the move allows VIP to focus on a growing tire and service business.

Terry said that a majority of the current VIP employees will become O'Reilly employees except for those currently in the company's tire and service business.

VIP has stores in Maine, New Hampshire and Massachusetts. As of September, the Springfield, Mo.-based O'Reilly operated 3,896 stores in 39 states.


Market Basket’s First Maine Supermarket will Create Up to 600 Jobs in Biddeford

December 12, 2012 in Articles

Author: Dina Mendros
Publication: Journal Tribune

BIDDEFORD, Maine — Market Basket supermarkets, with stores in New Hampshire and Massachusetts, is popular among many Mainers in the southern part of the state, who travel regularly across the border in search of lower grocery prices.

Soon, traveling out of state will no longer be necessary.

According to a city official, Market Basket will open its first Maine store next year in Biddeford. Economic Development Director Daniel Stevenson said a store representative, who didn’t wish to be named, told him the store will open in the summer or early fall of 2013.

 


Portland planners show cautious support for massive Bayside project

November 29, 2012 in Articles

Author: William Hall
Publication: The Portland Forecaster
PORTLAND — The Planning Board took its first look Tuesday at a proposed housing and retail complex that would transform the Portland skyline.

A rendering of the proposed Maritime Landing development, which would include a mix of housing, parking and retail space on the site of former rail and scrap yards along Somerset Street in Portland's Bayside neighborhood.

It also discussed plans to renovate a downtown building for use as a charter school.

Tuesday's workshop did not require the board to take any action on the proposed Maritime Landing complex, which call for building seven towers, up to 12 stories tall, on 3.24 acres of city-owned property along Somerset Street in the Bayside neighborhood.

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