re: Raising Canes on Corporate closes

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I still can't believe the owners of the strip mall with Sullivan's have let that place go down so much.

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The owners want an asinine amount of money for rent over there. At one point (about 6 months ago) they were asking $10,000 per month for the old CiCI’s pizza location. Don’t recall the exact square footage, but it’s not much.

90%+ of businesses can not survive paying absurdly high cost of rent like that in a below average location. Either the owners have too much money and don’t care, or they’re just greedy and clueless with that location.

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I still can't believe the owners of the strip mall with Sullivan's have let that place go down so much.

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They are purposely trying to run off all the tenants, so it can be knocked down and redeveloped. The hold up is some long term lease agreements ( I assume from Hooters and Sullivans, but unsure) If they can aggravate them enough and get those guys to cancel their lease it will be demolished.

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It’s a black eye for a partnership that built its reputation on doing quality development. Scott Bankston, who is Hartley’s associate and manages the property, concedes the property has been problematic, and says the highest and best use for the 11-acre site is to demolish and redevelop it. But he says the partners cannot do that because of long-term lease agreements in place.

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