Friday, April 22, 2011

Alameda Towne Centre Sold to Highest Bidder

Is everyone shocked as much as I am for the amount of money the Germans purchased Alameda Towne Centre for? $181 million dollars. Holy cow! Harsh Investment Properties sold the shopping mall. They must be ecstatic and what a smooth operator. I bet the Germans are not as content when they purchased it in January 2011. Borders and Nine West Shoes are vacant and I didn't even mention the other stores that came and gone. The Germans should know better. You never buy a property in January when tenant vacancy rates are low due to holiday shopping.

The up and coming tenants are small shops, which is great for the community, but bad if they don't have a lot of capital to wait out the weak economy to keep their doors open. Let's hope the Easter Bunny brings prosperity and good fortune to the mall. We still need a rockin' eating place since Pearl's and Zeytini's are not doing it for me. Applebee's is Applebee's, need I say more.

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