DepotTo Park Other Businesses On lts Property

Home Depot has come up with a new way to make money: sell excess space in the enormous parking lots of at least 500 ofits stores.

"A number of stores have barren asphalt, and it's not in anyone's best interest to leave it sitting there," said Mike LaFerle, Depot's v.p. of real estate, who hopes to sell the emPtY space to fast-food restaurants and complementary retailers.

"We're actively going out and seeking end-users directly, rather than developers who would seek to tie up the properties," said LaFerle, who added that Depot has already lined up retailers for several locations in Southern California.

Real estate experts said that Depot is just doing what a large shopping center does: ring the perimeter with fast-food chains and retailers.

Another incentive is that local requirements on the number of parking spots for big-box stores have relaxed. Instead, the emphasis is now on such features as design and landscaping, to disguise stretches of asphalt.

"This is the first time I've heard of a big-box retailer carving out space like that, but it makes a lot of economic sense," said Trace Johnson, v.p. of leasing at Petrovich Development. Fair Oaks. Ca.

If the chain can find buyers for the parcels, the move could bring in tens of millions of much-needed dollars. Once known for opening a new store every 48 hours, Home Depot over the past year has cancelled plans to construct 50 new stores while shuttering l5 warehouse stores and 34 ExPo Design Centers.

Hardwood Decking Specialist Launches Online Store

Advantage Trim & Lumber Co. has launched an online hardwood decking store, initially specializing in standard, pre-grooved, and T&G ip6.

Accessing www.advantagelumber. com, customers can select their desired species and profile with sizes up to 23 ft. for most dimensions. Orders are processed immediatelY, including calculation of UPS or direct freight costs.

In time, the site will offer every species of lumber, flooring, and decking stocked by Advantage.

All international wholesale orders are handled from Advantage's administrative offices in Sarasota, Fl. Orders are shipped around the world from milling facilities in Grover, N.C.. and Buffalo. N.Y.

Denim Insulation Introduced

Fiberwood LLC, Sacramento, Ca., hopes to begin selling its new sprayon insulation-made from recycled paper and cotton fibers-this spring.

Fiberwood, which makes landscaPing mulch from recycled paper and rice straw, will supply the recycled paper content. The Soex GrouP USA will supply the denim-based fiber from its recycling and manufacturing plant in Fresno, Ca.

"When you're in the manufacturing business, your No. 1 priority is to identify sourcing," said Stuart Douglass, Fiberwood president, who hopes to patent his insulation formula.

Advanced Home Energy, Richmond. Ca.. will be the exclusive distributor in the Bay Area.

Fire Strikes Trumark FacilitY

A Feb. 25 fire damaged a framedin office area at Trumark Industries' mothballed mill in Spokane, Wa.

"The building is essentially vacant, although they have been remodeling," said fire battalion chief Steve Sabo. "lt appeared the whole thing was going when we got here. It took us about 45 minutes to get it under control."

The facility has been closed since record snowfall caused the roof to collapse last yeur. Damage estimrte\ werc not available.

Canfor Cautious with Restarts

Despite higher U.S. lumber prices and growing demand fbr its wood in China. Cunfor won't hc resturting ils fbur shuttered B.C. sawmills any time soon.

"We are not going to be in a rush to start up a mill because the market has spiked as it has right now." said president Jim Shepard. "We would have to see sustainable recovery in the markets before we would entertain any starting up of any of our operations."

Canfor's 2009 shipments to China were up 40Vo over 2008, and now represent 7-87o of the company's total lumber production. "The market in China is now starting to recognize the advantageous qualities of SFP lumber," said Shepard.

Bitter Store Owners Sue Ace

Investors who own three Ace Hardware "Vision 21" stores in Illinois have filed a lawsuit against the co-op, claiming that the larger stores failed to produce promised profits.

Stores included in the lawsuit are Silvis Ace Hardware, Silvis; Hilltop Ace Hardware, Rock Island. and generate positive cash flows in the first year. The co-op also allegedly told the investors that if they built three or four stores at once and continued with dozens along the Interstate 74 corridor and the Quad-City area. they could make tens of millions of dollars.

The plaintiffs claim they repeatedly notificd Ace about thc poor performance of their fianchises and demandcd ussisluncc. hut thc corporalion "turnod a deal'ear" and demanded they pay back the money it had advanced to them.

The lawsuit further alleges that at the time Ace was selling franchises to them, it was trying to convert from an owner-cooperative to a privately held corporation with intent to offer public stock.

The plaintiffs argue that Ace was trying to increasc sales of both franchises and inventory to enhance the likelihood of a public ol'l-ering.

In addition to naming Ace Hardware as a defendant. the lawsuit also names two men who sold Ace fianchises, as well as several directors and vice presidents of Ace.