GRLaker

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I think it's smart that Brookfield acquired it so they control what is developed. I'd be scared if I owned a mall and the anchor stores were empty / not in my control. 

Joe

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They're clearing land and putting in sewer on a parcel near the offramp from M-6 to Broadmoor. Parcel is on 60th. Anyone know the deal? 

One of these along here. 

546088969_m660thparcel.thumb.JPG.38caeaa00a5e5469794a12b221f40da2.JPG

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On 3/16/2019 at 10:19 AM, GRDadof3 said:

They're clearing land and putting in sewer on a parcel near the offramp from M-6 to Broadmoor. Parcel is on 60th. Anyone know the deal? 

One of these along here. 

546088969_m660thparcel.thumb.JPG.38caeaa00a5e5469794a12b221f40da2.JPG

Townhome style condos are going to be built there. Prices start at $349,000.

IS6qrg5iqfneqk0000000000.jpg

Edited by GRLaker
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9 hours ago, GRLaker said:

Townhome style condos are going to be built there. Prices start at $349,000.

IS6qrg5iqfneqk0000000000.jpg

Wow! $349,000!!

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12 hours ago, GRDadof3 said:

Wow! $349,000!!

Yeah...$349,000 seems like a reach considering the following:

1. They back up to an exit ramp at Broadmoor and M6.

2. It's surrounded by Davenport, farm land, industrial parks, and the airport.

3. It looks like it caters to professional younger people that would normally want to live more centrally in a large city.

I could see these selling quickly in GR, EGR, or Ada, but it seems odd in Caledonia Township. But hey, what do I know? I'm no real estate expert - only someone that wishes he could be a part-time realtor as a fun side hustle. Maybe they're banking on the Switch pyramid bringing in knowledge-based professionals that want to live close to work.

Edited by GRLaker
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10 minutes ago, GRLaker said:

Yeah...$349,000 seems like a reach considering the following:

1. They back up to an exit ramp at Broadmoor and M6.

2. It's surrounded by Davenport, farm land, industrial parks, and the airport.

3. It looks like it caters to professional younger people that would normally want to live more centrally in a large city.

I could see these selling quickly in GR, EGR, or Ada, but it seems odd in Caledonia Township. But hey, what do I know? I'm no real estate expert - only someone that wishes he could be a part-time realtor as a fun side hustle. Maybe they're banking on the Switch pyramid bringing in knowledge-based professionals that want to live close to work.

Every time I drive by Switch lately (I've been working on selling a townhouse nearby) there are never any cars there. None. Wonder what's up? 

The highest priced townhouses out in that area are in Caledonia about a mile Southwest. They run $220's - $230's I believe. There would not really be any comps for these other than in EGR or Ada, which you can't use as comps (they're too far away). Good luck!

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14 minutes ago, GRDadof3 said:

Every time I drive by Switch lately (I've been working on selling a townhouse nearby) there are never any cars there. None. Wonder what's up?

Could it be that there is no reason for anyone to visit a warehouse full of servers unless maybe they are there to service the air conditioners?  Isn’t one of the main ideas behind the cloud is that you don’t need to be onsite?

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49 minutes ago, GRDadof3 said:

Every time I drive by Switch lately (I've been working on selling a townhouse nearby) there are never any cars there. None. Wonder what's up? 

 

Does the building have some parking inside?  If they have low staff numbers, I would be trying to park in the loading docks rather than deal with the cold.  I feel like I remember seeing some internal drive in area?

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1 hour ago, jthrasher said:

is there a link somewhere these renderings were posted?   

I just saw it on Zillow. It has been posted for almost a year now. I wondered when they would break ground for it, but it looks like they're finally starting.

55 minutes ago, GRDadof3 said:

Every time I drive by Switch lately (I've been working on selling a townhouse nearby) there are never any cars there. None. Wonder what's up? 

The highest priced townhouses out in that area are in Caledonia about a mile Southwest. They run $220's - $230's I believe. There would not really be any comps for these other than in EGR or Ada, which you can't use as comps (they're too far away). Good luck!

I looked at their careers page today and they have zero job openings. Since they started setting up shop here, I can honestly say that I have never seen job postings for them anywhere. It is truly bizarre.

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Despite Switch's recent 41% YTD stock rally it's still trading 50% under its Oct 2017 opening price.  Q4 financial discussions show the  facility 88% utilized.  1 sector was opened in 2018 at a cost of $28 million which included 139 acres of adjoining land for wetland mitigation.  They anticipate a new sector opening Q1 of 2019 and a final sector opening Q4 2019.

I suspect the labor is heavily outsourced and contracted as needed .. security, hardware, software, HVAC, etc.  I thought part of the building was to be used for labs or learning centers but haven't heard anything lately.

 

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On 3/12/2019 at 11:26 AM, walkermat said:

In local mall news, it appears Brookfield Properties has acquired the former Younkers at Rivertown Crossings.  Wonder if they have any plans for it? 

http://www.shoppingcenterbusiness.com/the-latest-news/a-g-realty-completes-auction-of-several-properties-formerly-owned-by-the-bon-ton-stores

 

There's speculation that Round One, a Japanese Arcade / Bowling center (I'm not too familiar with, but from what I understand more like Craig's Cruisers and less like smelly run-down bowling alley) may be taking over part of the space. They did announce several months ago on their Japanese site that a Rivertown location would be opening in 2021, and from what it looks like they tend to take anchor spaces in malls and already bought the Younkers location in auction at Great Lakes Crossings.

okinawa-round-1-ginowan-city-48503.jpg 

 

The sale of the Younkers space was on January 28th. The announcement by Round One was made on February 8th. However the Younkers space as it is would be double the size of their largest location, although there doesn't seem to be many locations in the mall large enough, either. 2 years out seems a bit of delay also, especially since it sounds like there's already work going on at the Younkers store location. Wonder if maybe they're taking a page from what Woodland is doing with the Sears location, sans complete reconstruction? Smaller anchor space + extension of store hall?

Edited by tSlater
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17 hours ago, tSlater said:

There's speculation that Round One, a Japanese Arcade / Bowling center (I'm not too familiar with, but from what I understand more like Craig's Cruisers and less like smelly run-down bowling alley) may be taking over part of the space. They did announce several months ago on their Japanese site that a Rivertown location would be opening in 2021, and from what it looks like they tend to take anchor spaces in malls and already bought the Younkers location in auction at Great Lakes Crossings.

okinawa-round-1-ginowan-city-48503.jpg 

 

The sale of the Younkers space was on January 28th. The announcement by Round One was made on February 8th. However the Younkers space as it is would be double the size of their largest location, although there doesn't seem to be many locations in the mall large enough, either. 2 years out seems a bit of delay also, especially since it sounds like there's already work going on at the Younkers store location. Wonder if maybe they're taking a page from what Woodland is doing with the Sears location, sans complete reconstruction? Smaller anchor space + extension of store hall?

Interesting....This was unexpected....So it's basically a Dave and Busters with a bowling alley.

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1 hour ago, GRLaker said:

Interesting....This was unexpected....So it's basically a Dave and Busters with a bowling alley.

I think it looks like a casino with a kids area from that photo. But your not wrong, it definitely has a Dave and Busters motif.

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Dan Vos Construction is tearing down the "house" that they've been using as an office in Ada and are building a new headquarters on the site. 

840387934_DanVos.thumb.JPG.7de80b3a565dc1208f91cdf6dbd77523.JPG

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