Real Estate Roundup
Deal of the Week
The Memo:
To:
Everyone
Re:
The Good, The Bad and The Ugly
Deal of the Week (New feature! Look at us go!)
1 Inter Department Directive
Comments:
The Good:
Nordstrom’s Rack intends to open another 20+ Stores this year on strong Year over Year Sales Growth.
Aldi to open 225 New Locations in 2025. (Great news for concrete contractors, these stores are literal tanks at 700+ cubic yards of concrete each)
9 New Costco’s planned for 2025
The Bad:
Macy’s is souring on store sales for 2025. (anchor site folks, call me: I have ideas)
The Ugly
17 Exchange St. West (This late 70’s Vintage 108k + sq ft office) in Saint Paul MN was recently sold by the Salvation Army. Who received it as a donation. It’s sale price was released more recently. $1.95 per sq ft. Or $209,069. (I could make an argument as to which is uglier: That it only got $200k or that it actually got more than $1.95 period)
Deal of the Week:
Mixed Use 25% Cap Rate. All you have to do is learn to be a mechanic. Extra 6k sq ft ready to be demo’d and built out. 0% occupied unless you’re the mechanic. (Actual photos, linked). Only $550k.
At least it’s in Motor city?
The folks in charge of Capital Improvements would also like a word.
Inter Department Directive:
Keep up the good work team. Let it be another week of reaching goals, ignoring the noise and doing what we need to do.
