Author Topic: ALX - Alexander's  (Read 11514 times)

Gregmal

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Re: ALX - Alexander's
« Reply #70 on: September 10, 2020, 08:32:30 AM »

The center is anchored by a 145,000 square foot Costco, a 135,000 square foot Century 21 and a 133,000 square foot Kohlís. On April 13, 2019, Kohlís closed its store at the property. On January 24, 2020, Kohlís subleased its store to At Home and remains obligated under its lease which expires in January 2031;

https://www.bloomberg.com/news/articles/2020-09-10/department-store-century-21-files-for-bankruptcy-will-shut-down


Unless ALX wants to dip into cash, think they may cut the dividend and we may see more near term downside on that

Wow, was not expecting that.  Century 21 is a very good discount concept in the NYC area.  They were going to open a store in Roosevelt Field Mall on Long Island and was going to take over the space for a Bloomingdale's furniture store. I guess that's no longer going to happen.

I'm a bit nostalgic. Definitey bought some stuff from the store on 86th st in Brooklyn. Also, surprised we aren't seeing more of a reaction in ALX and still trying to decipher BURL.

Same. Used to buy a bunch of crap for the wife(then girlfriend) at the Dey St location on my way home. Bribery for putting up with the 20 hour work days when starting off.


thepupil

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Re: ALX - Alexander's
« Reply #71 on: September 10, 2020, 08:37:19 AM »
I guess the flip side of illiquidity is that you donít get a rally on good news (extension of 731 retail, only use $50mm) and donít get a sell off on bad news (large tenant BK)

I definitely think youíre buying the office and getting the retail for free here but am very much conditioned to expect a bigger drawdown on negative news so still surprised.

BG2008

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Re: ALX - Alexander's
« Reply #72 on: September 10, 2020, 10:26:47 AM »
This falls into the "who cares" territory.  I think at these prices, it was already baked in.

CorpRaider

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Re: ALX - Alexander's
« Reply #73 on: September 10, 2020, 03:07:14 PM »

The center is anchored by a 145,000 square foot Costco, a 135,000 square foot Century 21 and a 133,000 square foot Kohlís. On April 13, 2019, Kohlís closed its store at the property. On January 24, 2020, Kohlís subleased its store to At Home and remains obligated under its lease which expires in January 2031;

https://www.bloomberg.com/news/articles/2020-09-10/department-store-century-21-files-for-bankruptcy-will-shut-down


Unless ALX wants to dip into cash, think they may cut the dividend and we may see more near term downside on that

Wow, was not expecting that.  Century 21 is a very good discount concept in the NYC area.  They were going to open a store in Roosevelt Field Mall on Long Island and was going to take over the space for a Bloomingdale's furniture store. I guess that's no longer going to happen.

I'm a bit nostalgic. Definitey bought some stuff from the store on 86th st in Brooklyn. Also, surprised we aren't seeing more of a reaction in ALX and still trying to decipher BURL.

Same. Used to buy a bunch of crap for the wife(then girlfriend) at the Dey St location on my way home. Bribery for putting up with the 20 hour work days when starting off.

Hey, I bought some stuff there! Long time ago.