Wawa has decided to close its oldest Philadelphia location, citing an inability to “continue to meet performance expectations.”
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Following the incredible results in Sydney on Tuesday, yesterday's Melbourne auction event yielded equally impressive outcomes for our vendors. With standing room only at Crown Casino's River Rooms, buyers battled it out over early education, medical and retail opportunities located across the country. 79% of stock was sold under the hammer, with remaining opportunities under negotiation. Highlights included the Adelaide Vet in Westbourne Park SA, selling for $5.855m on a 5.88% yield, the Little Stars Early Learning asset in Melton VIC which changed hands for $4.216m on a 5.8% yield, and the Blue Hippo Laundromat in Cobblebank VIC which attracted a frenzy of 115 bids before the hammer fell at $741,000, reflecting a 4.72% yield. Today will see our August portfolio campaign wrap up in Brisbane, headlined by the likes of 7-Eleven, Red Rooster and Caltex. Stay tuned for more results, and be sure to watch live from 10:30am - https://lnkd.in/gVnAyjFm #BurgessRawson #propertypeople #investment #portfolio #auction #commercialrealestate #investmentproperty #commercialinvestment #realestate #realestateinvestment #commercialproperty #commercialportfolio #realestateportfolio #propertyinvestor #propertyinvestment #wealth #createwealth #investor #property
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Hospitality & Urban Land Advisor with SVN CAG | Inspirational Influencer | Content Creator | Food & Fashion Fanatic | Health & Fitness Enthusiast
This review by Mike Migone highlights an outstanding owner-user investment opportunity on St. Armands Circle. #investmentopportunity #realestate #commercialproperty #retailspace #sarasotarealestate #businessforsale #realestateinvestment #sarasotaflorida
Follow along Senior Advisor Mike Migone as he walks us through this excellent #retail property available for sale on St Armands Circle. 📍 464 John Ringling Blvd, Sarasota, FL 🔗 https://loom.ly/T0Llf8g 📲 Mike Migone, CCIM (941)-812-7437
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Exciting news for San Antonio! 🌟 The Alamo City has been recognized as one of the best performing retail markets. Check out this insightful article to learn more about the growth and potential in our retail sector. 👉https://lnkd.in/gmNX8tsc #SanAntonio #RetailMarket #BusinessNews
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Is San Antonio still affordable? It depends on your benchmark for affordability, and the specific type of real estate we are talking about, but one thing is clear: buying retail space in the Alamo City has become a more expensive proposition over time. Today, average market pricing for retail properties is higher in San Antonio than the nation as a whole. #sanantonio #sanantoniorealestate #texasrealestate #credata
San Antonio Retail Space More Expensive Than National Average
costar.com
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“We’re thrilled with this result. It was a hard-fought marketing process for our client and ended up being a real net positive for downtown D.C. This was a unique situation as we had such a prominent D.C. property up for sale, but we were faced with difficult market conditions and a neighborhood that was going through a period of major uncertainty and change. We stayed resilient, brought a comprehensive buyer pool and executed on a deal that is a tremendous result for the Chinatown neighborhood." Congratulations to John Slowinski and Marty Zupancic on their closing of 619 H Street NW, a 17,655-square-foot retail property with significant development potential located in Washington, D.C. After decades as a staple in the district's dining scene, hosting U.S. Presidents, celebrities, athletes and foreign leaders, Tony Cheng’s Mongolian Restaurant faced financial instability, leading to a Chapter 7 bankruptcy. The auction saw multiple parties vying for ownership, where four potential purchasers bid on the asset 48 total times, leading to a $7.4 million outcome. The sale not only secures the future of the building but also underscores the confidence in the area’s revitalization efforts. As the neighborhood prepares for future developments, including enhancements around the Capital One Arena, stakeholders remain optimistic about further growth and prosperity. Read more about this deal here: https://lnkd.in/gD6V9kep #MarcusMillichap #BehindtheDeal #DealStory #DCCRE #Closing
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At the end of a very tough week for staff and members, we acknowledge the community’s valuable feedback, which has reinforced the passion locals have for the Co-op. All possible alternatives were considered by the Board before deciding to close Mitre 10 & CRT, Kew Rural Store, Comboyne Rural Store and The Department Store, however, continuing to operate would do future damage to the whole business. “We have taken on board all of the feedback over the past few days and sincerely appreciate the outpouring of concern, especially for our staff, who remain our priority,” Chief Executive Officer Nick de Groot said. “Despite our team’s fantastic efforts over a long period of time, the businesses we’ve been forced to close had been losing money and were no longer sustainable,” he said. “Our short to medium-term financial position demands immediate action, however, we are firmly focussed on solutions and fresh new offerings that cement the Co-op’s future and deliver value for members. “We intend to come back stronger, but can only do this with our members’ support. This includes taking advantage of the dramatically marked down stock at the three rural supplies stores between now and April 5.” A couple of points that members have asked to be clarified include: - Household and commercial gas customers will not be affected, and we will continue to provide this service post April 5 via our fuel division. Customers will receive direct communication with more details. - The Department Store will not close until August 31 and we are working on options for the site after this date. We understand the store’s significant profile and potential uses, and our intention is to re-develop this site. We want nothing more than to see Wauchope’s CBD grow. - The remainder of our businesses will continue to operate as normal and we are steadfast in our commitment to supporting our staff and community. Members will have an opportunity to share their thoughts at a Members Meeting on April 4, and hear about progress and future plans. More details regarding the time and location will be shared next week.
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Following reports that John Lewis Partnership is exploring a sale and leaseback of Waitrose stores, Simon Morris, managing partner of retail property consultant GCW Property Consultants, explains the benefits and risks of the practice. Read the full comment below. #JohnLewis #property #saleandleaseback #comment #retailnews
Prize and pitfalls of property sale and leasebacks
https://www.drapersonline.com
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Following reports that John Lewis Partnership is exploring a sale and leaseback of Waitrose & Partners stores, Simon Morris, managing partner of GCW Property Consultants, explains the benefits and risks of the practice. Read his full comment below. #retail #retailnews #JohnLewis #JLP #waitrose #property
Prize and pitfalls of property sale and leasebacks
https://www.drapersonline.com
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From the article below, I have some thoughts on the severe decline of US cities, and why companies should think twice about investing money into cities run by progressive voter blocs that elect politicians who implement outrageously horrible policies. (and instead invest more in business friendly "normal" cities like #jacksonville...hard truths) In this latest article about San Francisco, which can just as easily apply to several large prominent US cities that have ushered in rapid severe declines, retailer American Eagle is suing former landlord Westfield over security concerns at the once prominent Westfield City Centre mall. It is now one of the last retailers left in the mall (and in the area, sadly), and Westfield has already turned the keys in and no longer owns it. The lawsuit alleges that Westfield dropped the ball on security at the mall from 2020-2023, which resulted in many dangerous incidents for its employees (one including a machete, apparently). For its part, Westfield went public with its own concerns about the city of San Francisco's increasing safety issues. Newsflash: Westfield may have slacked on securing its own mall, but by the time things got really bad, really fast, the ship was already as good as sunk. If American Eagle were operating its own storefront on a street and not within the mall, these same incidents would mostly likely still have happened and who would they then sue? The city? Hopefully! And therein lies the crux of the issue. The City of San Francisco is populated with political progressives, who support every far left idea and vote leftists into power every chance they get. If you are a corporation operating in this city, this is what you have to contend with. If you don't want progressive results, then either withhold your money from these areas or take active steps to lobby governments and combat bad policies. The city won't prosecute crime. The state allows shoplifting up to $1,000 without consequence. This is a recipe for disaster that affects Westfield just as much as it affects individual retailers. Until there is a concerted effort to combat progressive voters and their cast of elected officials, there really is not a low-risk way to do business in progressive jurisdictions. I would like to see American Eagle and every other business that once operated in SF/California, or that still do but are having troubles, sue the cities and the states that are killing their bottom line and injuring their employees. Why sue each other when you're in this together? Cowardice is why. Companies need better leaders. #sanfrancisco #commercialrealestate #leadership
Exodus Continues at San Francisco's Downtown Mall | GlobeSt
globest.com
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Real estate investing is not just for the wealthy. Everyone can invest and grow their wealth, you just need to have the desire to do it, my team and I will provide the method of doing it that’s tailored for you.
Collective sales can fall through especially when the plan did not seem to meet URA’s vision, sad to see this especially when this building is in need of a major revamp. The proposal to increase the GFA was rejected, URA’s seems to want developers to do more, it’s not enough to just add GFA these days. Recently CDL’s city Square Mall is undergoing extensive refurbishment increasing their lettable area by intensifying the use. Perhaps Bright Ruby Resources might take a page out of CDL’s playbook to win over URA. (full article here) https://buff.ly/3U8ClhO
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