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Thread: Covid19 Bankruptcy Thread

  1. #761
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    Vecova is shutting down too. Equally sad.
    Quote Originally Posted by ExtraSlow View Post
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    I'm sure I said something earlier, but maybe it wasn't clear, but I also probably can't be clearer. Dang.

  2. #762
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    Quote Originally Posted by msommers View Post
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    They go into some more details. Wild how expensive their rent was:

    https://www.facebook.com/share/p/5aV...ibextid=oFDknk
    If anyone ever went to B-Line it was the same story there. Rent over the course of 6 years went from $13k/month to $72k/month.

  3. #763
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    Quote Originally Posted by ExtraSlow View Post
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    Vecova is shutting down too. Equally sad.
    Down, not out. May still find funding for a new building but unlikely. Asked the Fed and Province for $75M but didn't qualify.

  4. #764
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    Quote Originally Posted by bigboom View Post
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    If anyone ever went to B-Line it was the same story there. Rent over the course of 6 years went from $13k/month to $72k/month.
    This is standard.
    Wild actually.

    Commercial rent is insane and one of the main reasons businesses fail.

  5. #765
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    Quote Originally Posted by killramos View Post
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    I never got right with how petty they were when CSC opened. The owner was kindof a POS.
    CSC is the best in town no doubt

  6. #766
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    Quote Originally Posted by bigboom View Post
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    If anyone ever went to B-Line it was the same story there. Rent over the course of 6 years went from $13k/month to $72k/month.
    That's wild, and from this uneducated point of view, I don't understand the rationale.

    Why drastically increase someone's rent so much which, for all intents and purposes, will either force them to move or close up shop entirely. Then these spaces often since vacant for awhile with zero rent money coming in.

    I appreciate COC has been real shit to commercial users, increasing their property taxes so much, but this much to justify the x-times increase?
    Ultracrepidarian

  7. #767
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    Quote Originally Posted by msommers View Post
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    That's wild, and from this uneducated point of view, I don't understand the rationale.

    Why drastically increase someone's rent so much which, for all intents and purposes, will either force them to move or close up shop entirely. Then these spaces often since vacant for awhile with zero rent money coming in.

    I appreciate COC has been real shit to commercial users, increasing their property taxes so much, but this much to justify the x-times increase?
    Most of these buildings are owned by real estate groups with $billions in assets.
    They don't necessarily care if they have empty buildings here and there.
    They write off the loss against their revenue elsewhere.

    A space like B-line they would prefer to segment the building and rent to ~4-5 different businesses vs 1.

    Its opportunity cost.

  8. #768
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    Yeah, B line was a real tough one to lose for my family.

    The economics simply didn’t make sense at the end. I haven’t been there since the last day of tear down, but I have heard it was the business next door, the sport club that took over to make a pickleball club?!

    Wild that either of those things can support the rent $ to be honest.

  9. #769
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    Quote Originally Posted by bigboom View Post
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    If anyone ever went to B-Line it was the same story there. Rent over the course of 6 years went from $13k/month to $72k/month.
    Yeah that was a real shame to see.
    Originally posted by SJW
    Once again another useless post by JRSCOOLDUDE.
    Originally posted by snowcat
    Don't let the e-thugs and faggots get to you when they quote your posts and write stupid shit.
    Originally posted by JRSC00LUDE
    I say stupid shit all the time.
    ^^ Fact Checked

  10. #770
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    Most of these tenants pay a triple net lease, in which one component is building insurance... A gun range and bike park both sound like they would be insurance nightmares, which could reflect in the overall insurance rates for the entire building, which would (should) not be reflected on or attributed to other tenants, resulting in jacked lease rates for the 'difficult' businesses...

    It's like if you have a large warehouse with a single business specializing in open-air air storage (i.e. wide open nothing)... In moves a self-taught bomb-making shop, next door to a fireworks factory... You can imagine the building insurance would increase, which isn't fair to the air storage business, so the lease rates get jacked on the other two businesses to cover the increased insurance costs for the building owner.
    Last edited by you&me; 10-04-2024 at 07:08 AM.

  11. #771
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    Quote Originally Posted by you&me View Post
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    Most of these tenants pay a triple net lease, in which one component is building insurance... A gun range and bike park both sound like they would be insurance nightmares, which could reflect in the overall insurance rates for the entire building, which would (should) not be reflected on or attributed to other tenants, resulting in jacked lease rates for the 'difficult' businesses...

    It's like if you have a large warehouse with a single business specializing in open-air air storage (i.e. wide open nothing)... In moves a self-taught bomb-making shop, next door to a fireworks factory... You can imagine the building insurance would increase, which isn't fair to the air storage business, so the lease rates get jacked on the other two businesses to cover the increased insurance costs for the building owner.
    This is a very good insight! I had not thought of this, at all.

  12. #772
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    everyone: "my favorite business shut down because they couldn't make money"

    also everyone: "I would never be willing to pay 3x to go there!"

  13. #773
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    Quote Originally Posted by Buster View Post
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    everyone: "my favorite business shut down because they couldn't make money"

    also everyone: "I would never be willing to pay 3x to go there!"
    Hahaha! Yep, 100%... Even a few percent is enough to lose 'em often enough.

  14. #774
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    Quote Originally Posted by Buster View Post
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    everyone: "my favorite business shut down because they couldn't make money"

    also everyone: "I would never be willing to pay 3x to go there!"
    Quote Originally Posted by tirebob View Post
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    Hahaha! Yep, 100%... Even a few percent is enough to lose 'em often enough.
    lol
    Last edited by max_boost; 10-04-2024 at 12:13 PM.
    Originally posted by rage2
    Shit, there's only 49 users here, I doubt we'll even break 100
    I am user #49

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