PALMETTO -- A Texas buyer has invested just over $2 million in a piece of Palmetto warehouse real estate.
On March 3, Cross Development of Plano purchased a 32,000-square-foot warehouse at 2200 U.S. 301 for $2.04 million. The 37-year-old building is leased to several tenants, including an auto collision repair center, a flea market and a cabinet maker.
According to Manatee County property records, the sellers in the transaction were Randall and Constance Hubbard. They bought the building and the 2.1 acres under it in 2002 for $1.05 million.
Cross Development owns other property in the Manatee and Sarasota county area. Last September, it purchased a 39,000-square-foot warehouse at 5745 N. Washington Blvd. in Sarasota County for $980,000.
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Fed holds key interest rate steady for now
WASHINGTON -- Federal Reserve policymakers on Wednesday held a key interest rate steady and signaled there would be no more than two small hikes this year -- half what they had earlier estimated -- amid lower economic growth forecasts.
Despite global turmoil in recent weeks, the U.S. economy has been "expanding at a moderate pace" because of increasing household spending, an improving housing sector and a strengthening jobs market, Fed officials said.
But overall inflation continues to run below the Fed's target, while exports and business investment "have been soft" in recent months, the Fed said in a policy statement.
Noting that "global economic and financial developments continue to pose risks," Fed officials downgraded their expectations for U.S. economic growth this year.
At the end of a two-day policymaking meeting, members voted to hold the central bank's benchmark rate at between 0.25 percent and 0.5 percent.
Local franchisee for WelcomeMat wins award
BRADENTON -- Sharon Barhorst, a WelcomeMat Services franchisee for the past year and a half, was recognized for her initiative in marketing and innovation.
Barhorst was awarded for doing more than putting together welcome books and guides for new residents of Manatee County. While she believes connecting people with the right businesses is her main purpose with WelcomeMat, she's also put together welcome events for Manatee County School District teachers and networking events for businesses.
Barhorst's meet and greet events, designed to promote volunteering and helping people connect, are open to all businesses and nonprofits.
The first meet and greet was in January. Barhorst paired with local restaurant enRich Bistro for the March event, which is already full. Barhorst is planning a meet and greet in May. Nonprofits interested in securing a spot or anyone interested in attending the event can email Barhorst at email@example.com or call at 941-224-0171.
-- Herald staff, wire reports