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Menards gets green light for extreme makeover

BY HBSDealer Staff

Menards is planning to build a 300,000-sq.-ft. project in Richfield, a suburb of Minneapolis, to replace an existing unit, according to an article in the Star-Tribune.

The new two-story building, along with a lumberyard, garden center and warehouse, would require the demolition of the current store, along with a vacant restaurant called Jung Bo.

The Richfield City Council has already approved a conditional-use permit for the project, despite objections from the operators of an adjacent Burger King, who claimed the new Menards would make their property less visible to customers and change traffic patterns.

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Simpson makes acquisition in North Carolina

BY Ken Clark

Pleasanton, Calif.-based Simpson Manufacturing Co. subsidiary Simpson Strong-Tie agreed to acquire substantially all of the assets of North Carolina-based Automatic Stamping.

The price tag was an aggregate of $41.4 million, plus the value at closing of inventory and accounts receivable.      

Automatic Stamping manufactures and sells a line of high-quality truss-connector plates primarily in the United States. The transaction is expected to close in December 2011 or January 2012. 

Simpson Strong-Tie designs, engineers and manufacturers wood-to-wood, wood-to-concrete and wood-to-masonry connectors and fastening systems, stainless steel fasteners and pre-fabricated shearwalls.

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Starts: Northeast and West benefit most

BY Ken Clark

Data released Tuesday by the U.S. Census Bureau tell the story of two regions generating the lion’s share of new residential construction in November: the Northeast and West.

The surprisingly strong housing start report, which showed a 9.3% increase over October, varied significantly by region. The biggest gain came from the West, where a 66.3% year-over-year increase in total housing starts was reported. The Northeast showed a 53.89% gain in total housing starts on a month-to-month basis.

While the national report was all positive, the Midwest actually showed declines in both a month-to-month and year-to-year basis for total and single-family starts. The biggest drop was a 20.7% decline in single-family starts on a year-to-year basis.

The Northeast and West showed positive growth in all four metrics, while the South was split — total starts showed growth, while single-family starts declined 1.3% on a month-to-month basis.

November month-to-month housing-start % change

   Total   Single-family
 Northeast   53.8%  35.7% 
 Midwest   (18.2%)   (14.5%)
 South   4.1%   (1.3%)
 West   22.6%  10.7%

                                              

November year-over-year housing start % change

   Total   Single-family
 Northeast   28.2%  7.5%   
 Midwest   (16.7%)  (20.7%)
 South   24.3%  (3.3%)
 West   66.3%  17.7%

            

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