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1643 posts categorized "Early info/ more to come"

July 23, 2015

Quiet period to end for Celyad (former Cardio3) on July 29

Here's an interesting update from a site called Marketbeat.com about the former Cardio3, now trading in U.S. as Celyad. This Belgium firm has deep ties to Mayo Clinic and will soon occupy an entire floor of the Minnesota Biobusiness Center in downtown Rochester.

 Celyad SA’s  quiet period is set to expire on Wednesday, July 29th. Celyad SA had issued 1,460,000 shares in its initial public offering on June 19th, Market Beat reports.

CelyadThe total size of the offering was $100,097,600 based on an initial share price of $68.56. During Celyad SA’s quiet period, insiders and underwriters involved in the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

 

CYAD has been the subject of a number of recent recent research reports. Analysts at Piper Jaffray initiated coverage on shares of Celyad SA in a research note on Tuesday, July 14th. They set an “overweight” rating and a $95.00 price target on the stock. Separately, analysts at Maxim Group reiterated a “buy” rating on shares of Celyad SA in a research note on Sunday, June 21st.

Celyad SA remained flat at $60.44 during during mid-day trading trading on Wednesday. 126 shares of the company’s stock traded hands. Celyad SA has a one year low of $47.52 and a one year high of $67.94. The stock’s 50-day moving average is $54.65 and its 200-day moving average is $54.65.

 

July 22, 2015

Dirt is moving for NW Rochester development

Dirt is moving in northwest Rochester for a new commercial development area. 

Edina-based New Era Development is starting to prepare its Creekside Development on the southwest corner of the intersection of 19th Street Northwest and West Circle Drive. 

XAerial_-Creekside-2011.8.3-005-e1432657863387-750x410.jpg.pagespeed.ic.F6OkG5ifGbNo businesses have yet been announced for the build-to-suit development. Plans show an entrance from 19th Street Northwest and streets within the Creekside area.

The marketing brochure for Creekside lists the build-to-suit opportunities as including retail, office and flex office space. Available lot sizes range from 1.13 acre to 4.22 acres.

New Era first proposed Creekside in the fall of 2007, just before the economic recession. Earlier this year, the firm updated its plans and began marketing the project.

Plans show a development that could grow into something very similar to the 100-acre commercial area anchored by Costco, Associated Bank, Aldi and Kwik Trip on the northeast corner of the same intersection.

The Radichel family, of Mankato, which is behind Venstar LLC and its affiliate, New Era, has owned the land for about 30 years.

In 2007, former Venstar President Nino Pedrelli told the Rochester City Planning and Zoning Commission that, “We are long-term holders, and right now the project is a go for us."

Venstar and New Era also own the Valley High Business Center buildings, Phase I and Phase II, at 3535 40th Ave. NW, and the Cascade Park commercial center on Ninth Street Northwest, behind Kwik Trip. — Jeff Kiger

Holiday Inn: Roch.'s downtown hotel to close at end of August

Don't expect to book a room in Rochester's downtown Holiday Inn after Aug 31, according to the hotel chain's national reservation line.

Holiday-inn-rochester-3336465069-4x3An InterContinental Hotels representative on the reservation line said this week that Rochester employees said the 170-room hotel at 220 Broadway Ave. S will close at the end of August. They told the ICH representative the closing is because of the sale of the hotel.

For several months, word has been leaking out about a deal to sell the downtown hotel to an unnamed buyer who is planning to convert the 46-year-old hotel into a senior living facility.

If the buzz is correct, these talks have been going on for quite a while without reaching closure. Now the employees are saying a closure is on the way.

At least for the hotel, if not the real estate deal. 

July 09, 2015

Development exploding in Rochester's Shoppes on Maine area

Downtown Rochester is not the only area being eyed by developers. 

It appears that Shoppes on Maine in south Rochester is exploding with development these days.

I wrote about a 211 apartment complex proposed for the area on Wednesday plus there's already a massive housing project called The Boulders already under construction, which will have 144 apartments and eight buildings with 10 townhouses in each.

FireShot Capture - Google Maps - https___www.google.com_maps_@43.9547185,-92.4647416,15zMeanwhile, yet another group of developers met with residents of the Maine Avenue neighborhood on Tuesday to discuss their plans for a 359 unit apartment complex slated the empty land across from Mills Fleet Farm store.

I don't know much about the Fleet Farm apartment complex yet, but should have more on it soon.

Beside more than 700 apartments, the buzz in the Shoppes on Maine is that a new car dealership could be revving up for the land around 48th Street and St. Bridget's Road. 

There is a lot of interest in real estate in that area right now, so it's possible that a new name might be on the road to join Rochester Toyota Scion and Mercedes Benz of Rochester in Shoppes on Maine.

July 02, 2015

Goodwill store proposed for northwest Rochester

A Minneapolis developer is proposing to build a 28,000-square-foot Goodwill thrift store near Costco in northwest Rochester.


The Driessen Group, led by Vince Driessen, has filed plans to build a store at the corner of 19th Street Northwest and Scott Road Northwest. That's the 19th Street entrance to the Costco commercial area. The store is slated to sit opposite the Kwik Trip station across Scott Road.

Goodwill plansThe plans describe the project as a Goodwill store. However, Goodwill Minnesota Retail Marketing Director Mary Beth Casement cautions that the nonprofit has not committed to any such store yet.

"We do not have a signed lease, so your best source is the developer rather than Goodwill-Easter Seals Minnesota," said Casement in an email.

Driessen has not yet responded to a request for comment about this project.

It's common for developers to build stores with a plan, and then lease or sell them to nonprofit organizations or corporations.

Driessen recently built a 33,000-square-foot Goodwill store in St. Paul, which opened in March.

The plans, drawn up by DJR Architecture Inc., of Minneapolis, show a building with 13,730 square feet of retail space and 8,787 square feet of office. It also includes 4,955 square feet of warehouse space.

In 2008, a Goodwill store with 15,000 square feet of retail space was built at 239 28th St. SE near the Broadway Commons commercial area. The nonprofit organization moved into it after leaving its old Rochester spot at 660 37th St. NW.

It's unclear if this proposed store would be a second location or if it would replace the 7-year-old southeast store. A second store seems the most likely possibility. Salvation Army opened a second northwest location in 2014.

June 26, 2015

A taste of the East Coast coming to Med City

The flavor of the East Coast is on its way to southwest Rochester.

Joe Phillips is cooking up a new eatery called Jersey Jo's to serve up "authentic Philly Cheesesteaks and more."

FireShot Capture - Order Online - http___jerseyjos.com_order-onlineHe hopes to be able to open Jersey Jo's by mid-July at 187 16th Ave. SW. Cousins Subs is moving out of that 1,600-square-foot spot in the Shoppes on Second commercial center at the end of June. That address will put him just a couple blocks away from Mayo Clinic's St. Marys Hospital and many hotels.

Phillips, a software programmer who will continue that profession remotely from the restaurant, said this new project started very simply.

"I couldn't get a cheesesteak anywhere around here that I liked," he said. So after years of looking, he finally decided to open a place of his own.

Phillips plans to "import" many of the ingredients for the Jersey Jo's signature cheesesteak sandwiches from the East Coast to create as authentic of a flavor as possible.

In addition to Philly cheesesteaks, Jersey Jo's also will serve cold hoagie sandwiches, chicken wings and a trio of specialty burgers. The meat will be sliced on-site, deli-style for each of the made-to-order sandwiches.

While he has long worked in the technology industry, Phillips knows his way around a kitchen from years in restaurants during college.

Phillips' vision for Jersey Jo's is to create a laid-back place like the small mom-and-pop corner shops he remembers from growing up in New Jersey.

"I want to offer a nondiscriminatory place for people to come and feel welcome while they have some good food," he said.

He expects to have about eight people on staff.

 

June 12, 2015

Checking in with Sonic

Hopeful rumors of a Sonic Drive-in opening in Rochester have been buzzing around… again.

I called Oklahoma City, Okla.-based burger and shake chain in 2007, 2008, 2009 and 2011 to see if car hops and cherry limeades might be on the way to the Med City.

Sonic-drive-inI've never received an answer that made local Sonic fans happy. And unfortunately, the 2015 call did not turn out any differently.

"We do not have any signed contracts or any under construction drive-ins there," said Sonic's Communication Manager Jason Acock. "I don't see any plans right now of opening up in Rochester."

However, there's always a possibility. Sonic has opened a number of drive-ins in the Twin Cities and in nearby Wisconsin in the past eight years.

"We're open to looking all over the county right now. We're looking to expand everywhere," said Acock. "Hopefully, somebody will step forward and a franchisee will want to open a location up there."

May 27, 2015

Manufacturer shopping for Roch. location?

The chatter on the streets these days is that a new manufacturer is seriously looking at the possibility of setting up shop in Rochester.
Stock-photo-18292216-kinematic-gears-question-symbol
While no names have surfaced yet, the buzz is that this manufacturer could need up to 250 workers and 200,000-square-feet of space.

If that is even close to accurate, this could be a big addition to Rochester's goal of becoming more economic diverse.

We'll keep an eye on this to see if this interested company decides to move ahead with a Med City project.

May 22, 2015

Updated version of Hillary Nutcracker comes out for new campaign

An updated version of the famous (or infamous) Rochester invention, the Hillary Clinton Nutcracker, is hitting the streets this week as the presidential campaign heats up.

1-hillary-nutcracker-in-the-boxThe 9-inch-high nutcracker with "stainless steel thighs" originally was created and patented by Frank Freeman in the basement of his Rochester home in 2008.  He sold the functional device in his Little Bear Trading Post store in the Apache Mall as well as nationally.

While Freeman's company, Damn Handy Products, now is based in Arizona, he still distributes his products from Minnesota. He also is considering opening another store in the Apache Mall, if he can work out a "new concept."

"It'll be phenomenal," said Freeman of how he anticipates the nutcracker will sell with Clinton walking away with the Democrat nomination. "Last time, we sold well over a quarter of million units and she wasn't nearly as popular."

In 2008, it sold for $19.95. Now the tag is $29.95.

This version of the nutcracker features Clinton wearing a pink blazer with a campaign button that reads "Hillary 2016 -- It's Crunch Time." It's already on sale at hillarynutcracker.com. The first shipments from China arrived in Minnesota this week to the company's fulfillment center. Freeman says they already have shipped out about 70 dozen orders to five stores and it will be featured on the cover of at least two national specialty catalogs.

Of course, many people find the product distasteful and insulting. When Urban Outfitters started selling the last of the 2008 nutcrackers for $60, it spurred many media sourc8-hillary-nutcracker-introes like the New York Post and Huffington Post to decry the site for selling a "sexist" product. Vox.com posted a story that said the $60 price tag “seems like $54.05 too much for something you might find in a very, very sexist Happy Meal.”

Freeman and his partner, Gibson Carothers, say the nutcracker is not meant to be mean-spirited.

"It's up to you decide whether that is good or bad. The headline on the box is simply"It's Crunch Time, America!" We think it's all in good fun," said Carothers. "Of course, we expect cries of sexism from some feminists. But we expect, and are already starting to feel, a more balanced reaction this time around."

The pair say that women's opinions about the original nutcracker changed over time. In the end, they estimate that one-third of buyers were Hillary Clinton backers. They hope that sentiment will continue to grow this time around.

"They started to see that a nutcracker could be seen as a tough, fearless leader. Realistically,
is the country going to elect a woman not perceived as tough?" said Carothers.

"I think a lot of people feel that it is pro-Hillary. The humor on the box is slightly more pro-Hillary this time," said Freeman.

Political feelings aside, they say the bottom line is the nutcracker is supposed to be funny. It's in the same spirit as their Smash Mute TV remote product, which features a giant button that can be pounded to mute "politicians, talking heads and erectile dysfunction commercials." 

May 19, 2015

Southeast auto business to build a new, bigger shop

A long-time, family-owned auto shop is shifting gears to build a new home in southeast Rochester.

Tilson's Auto Repair, owned and run by Ben Tilson with his two sons, hopes soon to start construction of a new eight-bay, state-of-art shop on an open lot at 1740 South Broadway. That puts them between the 63 Club bar and Advance Auto Parts.

TilsonsThey hope to have the new almost 7,000-square-foot facility completed and ready to open this fall, possibly as early as September.

The elder Tilson has been repairing Rochester vehicles since 1984. In 2004, he moved into the four-bay shop in the Kmart building at  843 Third Ave. S.E. Now 11 years later, he needs a larger place with more visibility.

"The market changed. The dynamics have changed with DMC (Destination Medical Center)," he said. "As Rochester grows, we grow."

In the current location, he has six on staff including himself and his sons, Joe Tilson and the younger Ben Tilson. Once the new shop is completed, they hope to add four to six more employees to the staff.

The new shop will give the Tilsons access to some vehicles that are difficult to deal with now, added the younger Ben Tilson.

"We'll have bigger doors, which will make it a lot easier to work on bigger vehicles," he said.

The new location still will keep the shop in the area where they have long served customers.

"We wanted to stay in general area. Southeast is home," said younger Ben Tilson. "We want to be the predominant family-owned shop on this side of town."