Tuesday, December 27, 2011

Kmart and Sears Forced to Shut Down Stores

Troubled Bankruptcy Past for Kmart

In January, 2002, Kmart filed for bankruptcy protection presumably due to bad holiday sales and an outdated business model.  Kmart eventually emerged from bankruptcy in mid-2003, and shortly thereafter became a profitable public company trading on the NASDAQ stock market exchange.

In November, 2004, Kmart purchased Sears, Roebuck and Company, in which both Kmart and Sears were run under the newly formed Sears Holding Corporation.

One Decade Later

Today, nearly ten (10) years from the date Kmart filed for Chapter 11 bankruptcy, Kmart is back in the news with reports that it, along with Sears, will close 100 to 120 stores due to dismal holiday retail sales.  This news is in contrast to other stores within the same industry reporting strong holiday retail sales.

Retail Properties

Kmart and Sears appear to be struggling, while other companies within the similar retail industry, such as Target and Wal-Mart, have stores in many retail property locations that show positive holiday retail sales.  Coupled with the fact that the other powerhouse retailers are having price wars amongst themselves does not bode well for either Kmart or Sears to find a way to recover quickly.

History May Repeat Itself

With the announcement today that Kmart and Sears are closing at least 100 retail store locations, one has to wonder whether this will force Kmart back into bankruptcy, while bring Sears down with it.  If such is the case, the chances of Kmart successfully emerging from another bankruptcy filing during these troubling financial times would seem woefully doubtful.

Ripple Effects

If and when Kmart and Sears close down at least 100 retail stores, this will create further problems for the commercial real estate industry.  Because both Kmart and Sears operate out of significant "big box" locations, commercial property owners of these retail property locations will be left with large vacant locations that may take several months or years to refill.  Because other tenants within the same shopping center may have co-tenancy clauses within their leases, it will allow them to terminate their own leases early if and when Kmart of Sears vacate.

Losing multiple national tenants within a shopping center may also trigger Banks to reassess their loans for these commercial properties.  If Banks end up applying pressure on the Landlords to refill their vacant locations fast or risk having the property foreclosed upon, property owners may be forced to provide significant rent concessions to prospective tenants.

Friday, December 9, 2011

Industrial Warehouse Real Estate in Hialeah

Industrial Warehouse
Real Estate In Hialeah

The City of Hialeah offers significant amount of industrial warehouse space for companies to utilize for a variety of uses, which include the following:

  • cold storage
  • dry good storage
  • import/export
  • auto repair
  • carpentry
  • manufacturing, and 
  • fabrics

Real Estate Listings In Hialeah

If your in the market to find an industrial warehouse location for lease or to rent, please visit our Sharpe Properties website at www.sharpeproperties.com to view our real estate listings in Hialeah and other parts of South Florida (Miami Dade and Broward County).

Each of our Hialeah industrial warehouse locations can offer various benefits such as:

  • street-level
  • dock-level
  • parking
  • outdoor storage area
  • air conditioning
  • three-phase electric
  • high ceilings

Property Management Services in Miami

Sharpe Properties provides property management, maintenance and leasing to commercial real estate, including industrial warehouse properties in Miami, Hialeah, and other parts of South Florida since 1960.

Please contact Sharpe Properties to obtain a free quote on handling property management and leasing for your commercial real estate, including retail, industrial warehouse, office, and apartments throughout the City of Miami and other parts of South Florida (Miami Dade and Broward County)

Thursday, December 1, 2011

Restaurant / Bar Available by Hard Rock Casino (Hollywood, FL)

Restaurant / Bar Location 

Across from the 
Seminole Hard Rock & Casino 
Now Available

Property Name:         Seminole Shopping Center
Space Available:        4221 North State Road 7, Hollywood, FL 33021
Approx. Size:             4,800 SF
Monthly Base Rent:  $8,000

Click link below for more information, including maps, demographics, and photos
More Information

Right Across from the Seminole Hard Rock

Seminole Shopping Center Restaurant Location Includes:

  • Dining Area
  • Kitchen Area with Hood
  • Full Bar
  • Dance Floor
  • Stage Area
  • Contact Sharpe Properties today to schedule a time to view the location

    More Information 
    For more information, please call (305) 693-3500, email info@sharpeproperties.com, or visit us at:


    Click on the boxes below to view other properties in Dade & Broward