Upscale stationery chain Papyrus is reportedly closing stores across the United States according to sources.

The company, which is owned by Schurman Retail Group, is reportedly closing all locations. Papyrus once had more than 450 U.S. stores, but has been closing locations in recent years. The company now operates some 260 stores.

Schurman Retail Group has not issued a statement on the closures. According to the Chicago Tribune, employees were notified last week that all stores were expected to close in the next four to six weeks, with liquidation sales already underway in stores and online.

Founded in 1950 as an importer of European paper products, Schurman is now comprised of several retail brands, including Papyrus, American Greetings, Carlton Cards, Niquea.D and Paper Destiny, according to its website.

The only Papyrus store affected in Tucson is located at La Encantada, 2905 E Skyline Dr, Tucson, AZ that confirmed the closure by phone. As of Wednesday morning, the Papyrus website was holding its half-yearly sale, with discounts up to 70%, and a 20% discount on all non-sale items. The Tucson store is carrying a 20% discount off everything in the store that may progress until everything is sold.

Buckeye Parkway Center Offers Ideal Site for Elementary School Serving Nearby Residents

Phoenix, Arizona – Edkey, Inc., also recognized as Sequoia Charter Schools, has purchased 8.66 acres within Buckeye Parkway Center at the southeast corner of Interstate 10 and Verrado Way in Buckeye. The company paid $2,941,075.80 for the site and plans to develop a high performing elementary school scheduled to open Fall 2020.

Edkey, Inc. is a non-profit organization that provides high quality management and education services to a variety of institutions, empowering fulfillment of their individual missions. Mesa-based Edkey currently operates 14 schools throughout Arizona. Their schools are located in Metropolitan Phoenix, Cottonwood, Camp Verde, Snowflake, Maricopa and Show Low.

Edkey, Inc. purchased the property from Nevada Holding Co., L.P, known formally as SIHI. Brian Woods of Colliers International in Arizona represented the seller in the transaction. Dave Carder of Cushman & Wakefield represented Edkey.

“Buckeye’s explosive growth has brought significant interest in this high-profile site, which is adjacent to Interstate 10,” says Woods. “We are confident that Edkey will thrive at this location and we look forward to announcing more additions to Buckeye Parkway Center in the near future.”

Sequoia Charter Schools focuses on the individual needs of each student, providing a holistic education. The company’s programs include education about living sustainably, which includes growing gardens for nutritious meals. Sequoia supports leadership skills in students and offers a wide variety of extracurricular activities. The company has generated high academic achievement among students and excellent college enrollment rates.

“Edkey Inc. would like to thank Sunbelt Investment Holdings, Inc., along with the City of Buckeye, for the opportunity to present this high performing elementary school model in the Buckeye Parkway Center,” says Mark Plitzuweit, president and CEO of Edkey, Inc. “We look forward to serving the Buckeye, Verrado and surrounding communities beginning in Fall 2020.”

PHOENIX, ARIZONA – MEB Commercial Management Group and OPTIM Property Solutions have announced a merger of their business operations, a move that will open new client relationships and combine resources to better serve clients, become more efficient and advance in technology. The merged business will operate under the MEB Commercial Management Group brand.

The merger will create a company with 3 million-square-feet (MSF) of management property at more than 70 buildings of office, retail and light industrial.

The leadership team will comprise Principals Libby Ekre, Jodi Sheahan and Scott Cook; Managing Director and Designated Broker Azar Meszaros; Vice President Tyrel Williams; and Director of Accounting Jayne Anderson. Karlene Politi, former President of OPTIM, will play a key role overseeing a large regional portfolio and work with MEB Commercial leadership on strategic initiatives. The rest of the OPTIM Property Solutions staff will join MEB Commercial as well, adding additional depth to the highly-talented team.

“It’s gratifying to see the synergy and momentum this merger is creating for our company and our clients,” said Ekre, one of the three original founders of MEB Management Services, which celebrated its 20^th anniversary in 2018. “I’m excited to work with this highly driven team of experts who have mastered the ability to create value for clients.”

Prior to the merger, MEB Commercial had approximately 1.5 MSF of office, 330,000 SF of retail and 70,000 SF of light industrial under management. OPTIM had approximately 500,000 SF of retail, 400,000 SF of office and 100,000 SF of light industrial under management.

The company will serve Metro Phoenix, Tucson and Las Vegas. More than 20 employees will be housed at MEB Commercial’s offices at 3030 N. Central Ave. and 11201 N. Tatum Blvd. in Phoenix.

Key properties under management include a 100,000+ SF Class A office building in the Paradise Valley area; a 180,000+ SF, 15-story office building in Midtown Phoenix; an iconic mid-rise office building in the heart of downtown Mesa; and a newly renovated, 100 percent occupied retail center in Queen Creek.

“The combination of companies, people, experience and resources gives us the best of all worlds for our existing and future clients,” Politi said.

The merger will create a firm with professionals who possess decades of top commercial management experience and impressive industry credentials. Five of the company’s leaders and managers hold the highly respected Certified Property Manager (CPM®) credential from the Institute of Real Estate Management. Leadership of both entities has had long-time professional relationships with each other. The move positions MEB to better serve clients of all asset types and continue with OPTIM’s 17 years of commercial operations in Nevada.