PA Warehouse Trades at 7.7...

“Most of our verbal offers were in the 9.5% range with written offers in the low to mid 7% range.”

A warehouse and office facility occupied by Tweeter Home Entertainment--a company filing for bankruptcy--has traded at the attractive cap rate of 7.7%. The closing price was $3.4 million. via GlobeSt.com

[Jeff Conlee]

Thanks for promising me a severance package if I stay to close your store and then ofering nothing in writing. This is exactly the type of busines I hope tanks and rewards those lying corporate suits the karma they deserve. Where did you go with my "severance package"?

[Not in Texas]

Jeff, how about getting something in writing from Tweeter declaring your severnace be paid, only to have the rug pulled out from under you when they filed for chapter 11? And then the man who is responsable (Joe Mcguire) for the chapter 11 filing has a claim in fo $1.5 million dollars? I think there should be some fines on the higher ups!

[mike]

tweeter fired most of it's employees at HQ in Mass. when they closed 49 stores at the end o last year. They fired a couple of sales people from almost every store in the east coast, and a few weeks ago they eliminated 30 in home installation technician positions from NJ to MD and then some. They also recently switched all their in home installers to hourly and took them off commission.