PA Warehouse Trades at 7.7...

Mar 4, 2008 | Posted by: roboblogger | Full story: GlobeSt.com

“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

Comments
1 - 3 of 3 Comments Last updated Jul 28, 2008
Jeff Conlee

United States

|
Report Abuse
|
Judge it!
|
#1
Mar 4, 2008
 
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

United States

|
Report Abuse
|
Judge it!
|
#2
May 5, 2008
 
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

United States

|
Report Abuse
|
Judge it!
|
#3
Jul 28, 2008
 
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.

Tell me when this thread is updated: (Registration is not required)

Add to my Tracker Send me an email

Type in your comments below
Name
(appears on your post)
Comments
Characters left: 4000

Please note by clicking on "Post Comment" you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

•••
•••

King of Prussia News Video

•••
•••

King of Prussia Jobs

•••
Enter and win $5000
•••
•••

King of Prussia People Search

Addresses and phone numbers for FREE

•••

King of Prussia News, Events & Info

Click for news, events and info in King of Prussia
•••

Personal Finance

Mortgages [ See current mortgage rates ]
•••