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Recently I've seen a good indication locally that we are entering into an economic recovery..
I've seen
a vacant Circuit City property be sold, along with the property next door.
a vacant Value City location rent to HHGregg
a chinese restaurant thats been empty for years, opens up tomorrow
a vacant gas station has become a used car dealership
a vacant used car dealership is opening up next month to become a new Saturn dealership
an empty Pizza Hut has become a restaurant
empty store front has become a large gym
an empty retail storefront has become a pet store
another empty office space is being turned into a dance studio with the empty office space next to them rented to an insurance company.
And many more locations that were vacant, becoming occupied in the last couple of months.
Anyone else seeing a sudden jump in development in their area?
Recently I've seen a good indication locally that we are entering into an economic recovery..
I've seen
a vacant Circuit City property be sold, along with the property next door.
a vacant Value City location rent to HHGregg
a chinese restaurant thats been empty for years, opens up tomorrow
a vacant gas station has become a used car dealership
a vacant used car dealership is opening up next month to become a new Saturn dealership
an empty Pizza Hut has become a restaurant
empty store front has become a large gym
an empty retail storefront has become a pet store
And many more locations that were vacant, becoming occupied.
Any other area seeing similar growth recently?
I see a home I'm interested in valued at $40k more than it's worth. I'll stick to my offer cuz at his price it ain't gonna happen. I'll just keep my cash.
But all in all, I've seen not much regrowth in my area. Glad it is somewhere though.
Not really. A KFC, Taco Bell, a Chinese restaurant and a bar and grille restaurant have closed down in the past 6 months. As has the visitor center that used to be here, the Borders might be closing down. A Blockbuster and a Boater's World have closed down too in the past year. Condo developments are still vacant and the list goes on. When you drive around my city, and drive by the strip malls, you'll see a lot of "vacant" or "for rent" signs.
Yeah..that was my last bookstore to go to. Now all I have is Amazon.
I will miss it too.
I've actually discussed opening up a chain of book stores, but I just dont want to deal with the employees and the headaches involved. I already have lines of credits established at nearly 2,000 publishers because of my internet company.
Quote:
Originally Posted by wrench409
I see a home I'm interested in valued at $40k more than it's worth. I'll stick to my offer cuz at his price it ain't gonna happen. I'll just keep my cash.
But all in all, I've seen not much regrowth in my area. Glad it is somewhere though.
Housing, I had a home 2 doors up from me sell in 2 months, and a few other homes locally that were on the market for 2 years recently closed. I'm also seeing a recovery in housing as well, but those on the upper pricing scale sit though.
I've seen slow steady improvement over the last year. "The Landing" in Renton (a suburb of Seattle near where I live) had the misfortune to finish building around about the time of the big collapse in late 2008. As a result - the entire complex (comprised of low-rise housing and mixed retail) sat pretty much completely empty for it's entire 1st year (with the exception of TERRIFIC movie theatre and one or two big box stores that opened anyway). About a year a half ago things began to slowwwwly improve. The housing (probably been intended as condos but finished as apartments) began to fill in with tenants and little by little the smaller retail shops and restaurants in the 'downtown' part of the complex are starting to be leased. Still quite a few vacancies but the "big box" store area is now pretty much fully leased and open and it seems that there's a new shop, nail salon or restaurant every few weeks in the smaller "downtown" part of the complex and there are obvious more cars parked on the street in the "downtown" section and in the parking garage by the theatre. Clearly things are coming back to life here - it's just happening slowly and cautiously. It IS happening though - and has been for WELL over a year now.
Still waiting for the Burien Town Center area project to recover and fill in with tenants (I think some legal issues will hold that up longer than would be the case otherwise (the developer went bankrupt)).
In general though economic activity around here IS starting to pick up speed (not wonderful yet by any means - but it IS improving to be sure).
Ken
Last edited by LordBalfor; 05-14-2011 at 05:29 PM..
Recently I've seen a good indication locally that we are entering into an economic recovery..
I've seen
a vacant Circuit City property be sold, along with the property next door.
a vacant Value City location rent to HHGregg
a chinese restaurant thats been empty for years, opens up tomorrow
a vacant gas station has become a used car dealership
a vacant used car dealership is opening up next month to become a new Saturn dealership
an empty Pizza Hut has become a restaurant
empty store front has become a large gym
an empty retail storefront has become a pet store
another empty office space is being turned into a dance studio with the empty office space next to them rented to an insurance company.
And many more locations that were vacant, becoming occupied in the last couple of months.
Anyone else seeing a sudden jump in development in their area?
What I'm seeing is those who cannot afford to lease expensive, upscale properties, moving to cheaper, less expensive properties ..
Commercial buildings themselves are being foreclosed upon and the bank has hired property management companies to lease the space in the hopes of the bank regaining some of their lost investment after the note went into default.
Saturn is toast .. gone .. kaput .. They haven't made Saturn cars since 2009 .. Google "Motors Liquidation Company" ..
It's still a buyer's market out there .. and commercial entities are taking advantage of the rock bottom lease prices on foreclosed properties .. doing what they can .. to save what little money they have left.
Saturn is toast .. gone .. kaput .. They haven't made Saturn cars since 2009 .. Google "Motors Liquidation Company" ..
Ok, now I'm going to have to drive back up tomorrow to see the sign again because I could have sworn it said Saturn.. Maybe it was Kia.. I know its one of those off brand companies..
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