The Sears store and Auto Center was recently sold to Seritage Growth Properties as part of the agreement in which Sears Holdings leases the store from Seritage, Reifs said. Under the agreement, Seritage has the right to recapture the space occupied by the store, he said.Saks 5th Avenue is also by all definitions a medium-sized enterprise as well. Both REI and Sak's compete on design, not price. (And competing on design, not price, you'll have about 80% of your customers the one-off upscale stores and about 20% those well-known medium sized enterprises. And of course you want exactly zero of the dinosaurs, the large businesses, as customers.)
After Sears' departure, the space will be developed for REI, along with additional junior box and small shop retailers, including restaurants, according to the Seritage third quarter operating results.
Saks Off 5th, the outlet version of the luxury department store, has signed a lease and will also occupy some of the space, West Hartford Community Services Director Mark McGovern said in an email Thursday.
Naturally, well-run companies that survived the bust will be the first to take advantage of the dying dinosaurs' demise. Note what the real estate developer is doing: repurposing from dinosaur to delightful.
As an aside, while stores like Sports Authority drop dead from ex nihilo credit heart attack, a coop like REI thrives like crazy.
Your savings and pension and even social security depends on the dinosaurs thriving. They will not, they cannot. To keep from being taxed to death, you were persuaded to invest all in the limited range of securities allowed by law. The law of course was designed by those who benefit from money pouring in every month to that limited range of securities. Either way, the thieves end up with your surplus. That is your future, because it the reality right now.
What is the best investment hedge given the reality? Self employment, which is a misnoner. The real term would be customer employment. We are all customer-employed, the hedge is to cut out the middle-man and be customer employed directly.
See yesterday's post for some options.
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