Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - McNally Robinson on Stephen Ave. to close Aug.1

Claeren · 03-15-2008, 12:58 PM

I don't think they were forced out.

I understood it as they owned the building, which they purchased for very little before the boom as a fixer-upper, and are now able to sell for a massive profit.

So do they run a bookstore in a city with runaway cost pressures and eroding profitability or do they sell the real estate at a massive profit at the peak of the boom and look elsewhere?

I think they timed it just right myself... they even have a chance to buy back in after a few years when the market is more saturated with vancant retail properties and any coolness that Stephen Ave had has officially been killed off by sky-high rents.

Claeren.

03-15-2008, 12:58 PM	#5
Claeren Franchise Player Join Date: Jul 2003 Location: Section 218 Exp:	I don't think they were forced out. I understood it as they owned the building, which they purchased for very little before the boom as a fixer-upper, and are now able to sell for a massive profit. So do they run a bookstore in a city with runaway cost pressures and eroding profitability or do they sell the real estate at a massive profit at the peak of the boom and look elsewhere? I think they timed it just right myself... they even have a chance to buy back in after a few years when the market is more saturated with vancant retail properties and any coolness that Stephen Ave had has officially been killed off by sky-high rents. Claeren.