Other items: Everett firm sells Cincinnati Lamb; Microsoft database software may be delayed; and Kansas, Oklahoma operations sale OK'd for Boeing.
Plans for development of downtown Seattle’s tallest residential tower, a 36-story condominium project near Pike Place Market, were announced yesterday by Opus Northwest. The Minnesota-based real-estate company is developing the project with Samis Land, a subsidiary of the Samis Foundation, which holds numerous Seattle properties formerly owned by the late Sam Israel.
The tower, to be located between Pike and Pine streets at 1521 Second Ave., would be the first to take advantage of Seattle’s proposed new development guidelines allowing increased height and encouraging greater density in the downtown core.
According to the developers, the 400-foot-tall building will be narrow at the base to allow daylight at street level and slimmer in the upper stories to help reduce the obstruction of views from surrounding buildings. Included in the building will be a station for the new monorail.
Construction on the as-yet-unnamed condo tower is scheduled to begin when Opus acquires the land from Samis.
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Everett firm sells Cincinnati Lamb
Unova agreed to sell its metal-cutting business to Maxcor, a private equity firm, for $26 million in cash and notes to focus on production of handheld scanners and bar-code label printers.
Maxcor will pay $10 million in notes and $16 million in cash for Cincinnati Lamb Group, Everett-based Unova said in a statement yesterday. The sale includes the assumption of about $34 million in debt and is expected to be completed in 30 days.
Warren, Mich.-based Cincinnati Lamb builds metal-cutting machines. Its sale will be the first of two, Unova Chief Financial Officer Michael Keane said in the statement. Unova also is selling its Waynesboro, Penn.-based Landis Gardner unit, which makes grinders.
Database software may be delayed
Microsoft said it may delay for a third time its SQL Server database program and Visual Studio tools for software developers.
The programs will be released in the second half of the year, Microsoft said in a statement yesterday. Previously they had been set for release between June and September.
Microsoft has been discussing the new version of SQL Server since 2000 and had originally planned to complete it last year. Sales of the current version, SQL Server 2000, are growing rapidly with a 25 percent jump in sales last quarter.
Kansas, Oklahoma operations sale OK’d
Boeing has received U.S. antitrust clearance to sell its commercial-plane manufacturing operations in Kansas and Oklahoma to Canadian leveraged-buyout firm Onex, U.S. officials said yesterday.
U.S. antitrust officials closed their review of the deal to sell the operations in Wichita and Tulsa and McAlester, Okla., for $1.2 billion without taking action to block it, the Federal Trade Commission said in a notice posted on its Web site.
The new business will enter into long-term supply agreements with Boeing and will seek to add European rival Airbus as a customer.
Compiled from Seattle Times business staff, Bloomberg News and Reuters