Vecova is shutting down too. Equally sad.
Vecova is shutting down too. Equally sad.
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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 quote is hidden because you are ignoring this member. Show Quote
Down, not out. May still find funding for a new building but unlikely. Asked the Fed and Province for $75M but didn't qualify.This quote is hidden because you are ignoring this member. Show Quote
This is standard.This quote is hidden because you are ignoring this member. Show Quote
Wild actually.
Commercial rent is insane and one of the main reasons businesses fail.
CSC is the best in town no doubtThis quote is hidden because you are ignoring this member. Show Quote
That's wild, and from this uneducated point of view, I don't understand the rationale.This quote is hidden because you are ignoring this member. Show Quote
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
Most of these buildings are owned by real estate groups with $billions in assets.This quote is hidden because you are ignoring this member. Show Quote
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.
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.
Yeah that was a real shame to see.This quote is hidden because you are ignoring this member. Show Quote
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.^^ Fact CheckedOriginally posted by JRSC00LUDE
I say stupid shit all the time.
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.
This is a very good insight! I had not thought of this, at all.This quote is hidden because you are ignoring this member. Show Quote
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.This quote is hidden because you are ignoring this member. Show Quote
This quote is hidden because you are ignoring this member. Show QuotelolThis quote is hidden because you are ignoring this member. Show Quote
Last edited by max_boost; 10-04-2024 at 12:13 PM.
I am user #49Originally posted by rage2
Shit, there's only 49 users here, I doubt we'll even break 100