AT&T has reached a tentative contract deal with the union that represents 13,000 workers in California and Nevada, according to the Communications Workers of America.
The agreement covers technicians, call center personnel and other employees. AT&T posted a statement on its website March 21 that confirmed the tentative contract. According to AT&T, the deal covers a four-year span.
The contract must be ratified by the union’s membership, and the vote could be scheduled for later this week, according to a union website.
According to the CWA, the agreement calls for pay raises in each of the four years, with a 3% increase in April of 2020 and 2021. April of 2022 will see a 2.25% increase, with a 3.5% boost in 2023.
Pension contributions and other benefits also will be increased.
Chase Bank land sells for $5M
A land lease that’s home to a newly constructed Chase Bank in Anaheim has sold for $5.1 million.
The new 3,988-square-foot bank building, which opened earlier this year, sits on 0.50 acres at 545 N. Euclid St.
Hanley Investment Group’s Executive Vice Presidents Bill Asher and Jeff Lefko represented the buyer, a private investor in Los Angeles.
The property was developed by SunCoast Properties, which was represented by SRS Real Estate Partners Pat Kent, Patrick Luther, Matthew Mousavi and Parker Walter in the firm’s Newport Beach office.
“We want to recognize and thank Bill and his team,” Roberto Brutocao, CEO of SunCoast Properties, said in a statement. “They did a remarkable job steering this transaction to a successful conclusion despite the widespread upheaval in the economy caused by the COVID-19 health emergency.”
According to HIG, the bank is a new prototype building and includes a drive-thru ATM. Chase relocated across the parking lot from an older building at the corner of Euclid Street and Crescent Avenue.
The bank is 2 miles northwest of Disneyland Park and Resort.
Gas prices continue to fall
The average price of a gallon of self-serve regular gasoline in Orange County dropped to its lowest amount since Jan. 4, 2018, decreasing 2.4 cents to $3.137. It has dropped 31 consecutive days, decreasing 38.2 cents, including 1.6 cents on Thursday.
The county’s average price is 13.5 cents less than a week ago, 37.9 cents lower than a month ago and 43.4 cents below what it was a year ago. It has dropped 40.8 cents since the start of 2020, according to figures from the AAA and Oil Price Information Service.
The same was true in Los Angeles County, which saw its gas price average drop Friday to its lowest since Jan. 4, 2018, falling 1.9 cents to $3.169. The average price there has dropped 26 consecutive days and 29 of the past 30, decreasing 39.8 cents, including 2.8 cents on Thursday.
The average price is 15.6 cents less than a week ago, 39.6 cents lower than a month ago and 44.6 cents below what it was one year ago. It has dropped 44.6 cents since the start of the year.
“With many people staying or working at home this past week, gasoline demand has continued to weaken,” said Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager.
“Combined with the ongoing oil price war between Saudi Arabia and Russia, we could see the average price in areas close in on $3 per gallon, with many stations selling regular gasoline for much less than that.”
Pier One property sells for $5.2M
A retail property leased to Pier One Imports in Costa Mesa has been sold for $5,275,000.
Jeff Stokes of Jeff Stokes Luxury Homes in Newport Beach and Don Nourse of Lee & Associates represented the buyer, who was not identified.
The property is an 11,156-square-foot, stand-alone building on a 30,056-square-foot lot. Pier One Imports has been the tenant there since 1970.
On the move
Timothy Smallwood has returned as senior associate partner and the new director of institutional services at Irvine-based MVE + Partners, an architecture, planning, interiors, and graphic design firm. Smallwood will help expand the firm’s institutional architecture and design studio across Southern California and beyond.
Irvine-based The Hoffman Co., a land brokerage firm with operations in California and Nevada, is expanding services into the multifamily sector. Patrick S. Simons, a 25-year veteran in multifamily development, has joined the firm as senior vice president and managing director of multifamily markets.
Manuel Lara has joined the Irvine office of Coldwell Banker Realty as an affiliate agent. He comes to the office with more than 15 years of luxury hospitality and real estate experience. Previously, he worked for Four Seasons Hotels and Irvine Co.Matt Trudell is the new branch manager of Coldwell Banker Realty’s Mission Viejo office. He comes to the office with 12 years of real estate experience. Most recently, Trudell was a shareholder with Regency Real Estate Brokers in Mission Viejo.
Nonprofit taps new director
Angie Rowe of Aliso Viejo is the new president and executive director at Santa Ana-based Blind Children’s Learning Center. She brings more than 20 years of experience in revenue and donor growth and community participation. The nonprofit also appointed new board members:
Raymond Kong of San Juan Capistrano, vice president of global sales at New World Medical.
Carol Trapani of Newport Beach is senior vice president of advisory & transactional services for CBRE.
Michelle Dean of Newport Beach is a community volunteer and leader as a member of multiple nonprofit boards.
Catherine Heyman of Yorba Linda is an associate professor and assistant dean for student affairs for the Southern California College of Optometry at Marshall B. Ketchum University.
On board
Susan Piazza, a luxury property specialist at the Newport Beach office of Coldwell Banker Realty, has been named to the board of directors for the Rancho Santa Margarita Chamber of Commerce.