Not sure if this is the right term, but it looks like an Asian style mall concept, where its made up of a bunch of small, box shaped stores. Kind of like Pacific Mall in Markham.
"I went to this Chinese mall, some of you may know it, Pacific Mall."
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Looks awful. You'd be pretty hard pressed to find a lender wanting to kick up financing for building something like that with not a single national or regional tenant taking up a significant amount of space. In Balzac.
"Hi lender, we want to borrower $20,000,000 to build a garage sale"
"oh, okay, who's your lead/anchor tenant?"
"anchor tenant?? Chings cell phone accesorries has signed the first 6 weekend lease, I see you have an iphone there, would you like some glitter and sparkles attached?"
"ughh.... how much income are you getting, what's your average lease rate?"
"lease rate per sf? well, our average for this 150,000 sf centre is about $5.00 per sf"
"hmmm... $5.00, 150,000 sf, annual base rent of 750,000.... not bad although it's coming from a bunch of nobody's"
"750,000?........ oh, the tenants only pay rent on weekends, no one comes here monday through friday, so it's more like $214,000, unfortunately our operating costs of $6.00 per sf apply 7 days a week, so in the time we've had this conversatation chings cell phone accessories has already gone under as they didn't sell enough cell phone cases on the first weekend to pay their rent and operating costs for the first 5 week days that the building wasn't open"
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What I don't understand is how all these shops can openly sell pirated movies with no care in the world. 3 for $10 Chinese movies and Hollywood productions as well all laid out in the open and not obscure malls either.
What I don't understand is how all these shops can openly sell pirated movies with no care in the world. 3 for $10 Chinese movies and Hollywood productions as well all laid out in the open and not obscure malls either.
