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Sears Holdings Corporation Message Board

  • consj90 consj90 May 12, 2005 10:16 AM Flag

    I love to dable in real esate...

    And I've been dabling through some of the situations that SHLD has to offer...People...things aren't look good here at all. I feel its safe to assume your looking at a complete real estate bubble here on this stock...And do to the current situation..Its time to sell. Even that one share jim cramer told you to buy...

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    • This thing WANTS to go to $135 today.

    • I make my living as a real estate investor and I read the report of Eddie going to sell the stores for $100.00 per foot and I just laughed. That may be the value of a new store with a rent producing tenant but to buy an old store in need of rehab that is why he is not making his living appraising real estate. Not only is he not taking into consideration the re-tenant cost he also fails to include the cost of selling of about 10%. Commissions,surveys,enviromental studies, title policy and fees. The cost of re-tenanting can be $20-$50 a square foot depending on the use. If the use is hot for retail why sell the store that tells me most will need new uses.

      • 1 Reply to BigDaddyCass15
      • Big Daddy, I too make my living in commercial real estate as a broker and investor. I don't agree with your comments regarding price. I haven't seen a leased retail investment of decent quality sell for $100 per square foot for some time. Also there are many locations which don't work for K Mart that might work for other big box retailers. For example in my market a K Mart was replaced by a Lowes.

        You also fail to mention the possibility that some of the locations will probably be used for denser redevelopments especially the in fill locations.

        I don't think that $100 per foot on average is unreasonable....while many might sell for less there will be several sold at a premium.

 
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