This was posted, and got removed, I guess when you guys changed servers. I thought it was a good topic,
so I’ll repost it.
Thinking realistically, what would be everyone’s dream deal be?
I’m not talking about developing the Sears Tower here (something realistic)- I’d just like to know what
would be everyone’s ultimate real estate deal. Toungue
Anything large enough to quit my day and night jobs and do REI only.
Nothing unrealistic about developing the Sears Tower, it’s been done hasn’t it?
My ultimate REI goal before I leave this industry, will be to own a massive, multi national-tenant distribution center. Something so big you need golf carts to get around. Hundreds of loading docks. Just a huge hub of retail distribution for some of the countries biggest companies.
…That would be nice.
You’re referring to a large warehouse type distribution building? If you want one there is one that will be up for grabs soon near me. One of our biggest area supermarkets is closing a distribution center soon, massive complex. So big it has huge oil tanks out front just to fuel the truck fleet. When the close it they expect to cut 850 jobs.
You're referring to a large warehouse type distribution building?That's exactly what I'm referring to. Unfortunately, I'm not ready ($$$) to pick one up yet. Hopefully that one near you will be sitting around for a while....
I wouldn’t be suprised if it sits a while, I have no idea who will occupy it. Home Depot just pulled out of another large on (little smaller) so that one is already on the market or at least was when I was last on Loopnet a while back. And with the sheer size I don’t know who will need all of it, will probably get divided up. The other large grocery stores have no need for it, they were the only one distributing in the state. The other 2 are operating warehouses in neighboring states and of them one is slowly pulling out of CT (just closed 3 stores, more slated in the next few years) so grocery stores are out. Whole Foods is a national gourmet/organic type grocery store but their stores are way to small to operate a huge warehouse like that, plus they already have a small warehouse in state not 10 miles from the big one that’s closing.
The grocery distribution centers usually have several very large refrigerated rooms/ buildings. That pretty much limits the occupancy to a grocery store without removing or negleting some very expensive chillers, insulated walls, etc.
My dream distribution center (and yes I do dream about it) would be one with tenants of 10-20 or more big box stores. A couple supermarkets, Home Depot/ Lowes type, Wal-Market/ Target type, Best Buy/ Circuit City type, etc. Along with hundreds or thousands of truck loading docks, it might need some train tracks running along side some of the buildings as well.
The Home Depot center had tracks, I don’t think the Stop and Shop center did.