Bridgetown Mall's Diary
May 1, 2008 12:00 PM
May 22, 2007
Occupancy: 96 percent, very good
Negotiations in progress: 3, not bad
Acquisition offers: 20, excellent!
The year seems to be off to a good start as Mr. General Manager came back from Las Vegas a bit more hungover than usual, but in a good mood. He says business was brisk and we should be able to fill that pesky leftover space on the upper level in no time. Mr. M also says we should look into becoming more eco-friendly, maybe install a few solar panels. Apparently, we could save a whole lot of money and it's good for you!
June 15, 2007
Occupancy: 97 percent, excellent
Negotiations in progress: 2, but left over from last month
Acquisition offers: 20
Feeling a bit down today, as I saw same-store figures for last month and they are hardly encouraging. Mr. M tells me I worry too much.
September 15, 2007
Occupancy: 97 percent, frustrating
Negotiations in progress: 1
Acquisition offers: Down to 10!
Getting ready for the back-to-school season has been hard, although it doesn't feel as busy as usual. Mr. M says all the bankers that invested in subprime loans are hemorrhaging money like crazy and now don't want to go anywhere near real estate. But he says things will be normal by the holidays.
October 1, 2007
Occupancy: 97 percent
Negotiations in progress: 1
Acquisition offers: 8. Everyone says it's temporary
The back-to-school idea didn't work out so we are going with Plan B — a four-month Christmas extravaganza! Mr. M thinks that if we start promotions now, we'll get people into buying mode in no time. But every cloud has a silver lining — I hear mixed-use projects have really been hit hard. There is one being planned for a site just across the street from me that might get scrapped!
December 18, 2007
Occupancy: 97 percent
Negotiations in progress: 0
Acquisition offers: 6. Where have all the buyers gone?
Oh, dear! A shopping center a few miles away from here might be in real trouble — its owner took on a truckload of debt to buy a bunch of assets and now can't pay its creditors. This has even gotten Mr. M worried. Meanwhile, the Christmas promotions don't seem to be doing much good. I have an empty feeling.
March 20, 2008
Occupancy: 88 percent, in a dizzying downward spiral
Negotiations in progress: 0, very bad
Acquisition offers: 0, feel like a pariah
Mr. M just informed me that Ann Taylor, Wilsons and Sharper Image plan to leave. We've tried getting some locals to come in and look, but they are hesitating too. Imagine, they're asking for 12 months free rent and a build-out allowance? The nerve!
May 1, 2008
Occupancy: 88 percent, very, very bad
Negotiations in progress: 0, Still, hopeful
Acquisition offers: 0, ugh
Mr. M is getting ready to leave for Las Vegas and I feel optimistic. A new year is a new beginning. It can't get worse? Right?
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