Officials at The Harrison apartments can hang the no vacancy sign on the window.
BND Commercial Real Estate inked its last lease for the complex’s 43 luxury units Friday, officials said. The Harrison, an $18.5 million, four-story mixed-use building has apartments on the third and fourth floors. Retail space is on the first floor with 3Rivers Credit Union and O’Reilly’s Irish Bar & Restaurant. The law firm of Carson Boxberger occupies the second floor.
The Harrison opened in March. The apartments are one- two- and three-bedroom units.
Electric-Tec plans expansion in Angola
Angola-based Electric-Tec is expanding its operations and was approved for a tax phase-in this week on a $650,000 building addition, according to a release.
The manufacturer of power cords, wire harnesses and electrical equipment will expand its existing 20,000-square-foot Steuben County operation by more than 15,000 square feet. The company anticipates five new jobs will result from the addition.
Last year, the company acquired Fort Wayne-based Khorporate Holdings Inc. for an undisclosed sum. Electric-Tec serves the medical, agriculture, automotive and other industries.
Unemployment up for area Ohio counties
State officials in Ohio released information Tuesday that showed three of the four counties bordering northeast Indiana – Defiance, Van Wert and Williams – had higher unemployment in July than a month earlier.
Only Paulding County saw a decrease in July as it had a 6.7 percent jobless rate, compared to 6.9 percent in June.
Williams had the highest jobless rate at 7.9 percent, up from 7.2 percent in June. Unemployment in Defiance rose to 7.5 percent in July from 7.4 percent in June. Van Wert was 7.1 percent, compared to 6.9 percent in June.
Home Depot results top expectations
Home Depot’s second-quarter net income jumped 18 percent, helped by an improving housing market and good response to holiday events.
The nation’s biggest home improvement retailer’s results beat Wall Street expectations and the company raised its full-year earnings and revenue expectations.
A slowly improving employment landscape and extremely low interest rates this year have created such great demand that homebuilders are having some difficulty securing land and keeping pace. That’s good news for home-improvement retailers because as home values improve customers feel more comfortable investing money in projects for their home.
Home Depot’s smaller rival Lowe’s Cos. will report results Wednesday.
Kodak gets court nod for bankruptcy plan
A federal judge approved Kodak’s plan to emerge from bankruptcy protection.
Tuesday’s ruling paves the way for the photography pioneer to emerge from court oversight as a new company focused on commercial and packaging printing. The company has said it hopes to emerge from bankruptcy protection on Sept. 3.
Founded in 1880, Eastman Kodak Co. filed for Chapter 11 early last year after struggling with increasing competition, the shift from film to digital photography and growing debt levels.
Kodak has since sold off many of its businesses and patents so it can concentrate on commercial and packaging printing.