[mraines]

Originally Posted by BrianL99

The Landlord doesn't "get a cut", he gets his RENT, which in the retail industry, is typically partly based on sales volume.

My understanding is the Developer gets a cut of the profits as well as rent.

[Bill14564]

Originally Posted by asianthree

Honestly do you buy Everything at Aldi? Never enter a grocery because Aldi has all of your grocery needs?

The loss of a grocery for some isn’t an issue because they can drive elsewhere. However there are some TV residents, who are cart bond, easily get lost due to unfamiliar surroundings.
The loss of WD will be a very big deal to them.

Aldi is a grocery.

I don't buy everything at any one store. Each of the stores I go to have something unique that I like. I haven't paid enough attention to Aldi to know if I could live with that as my only store.

For some that are cart bound, having an Aldi that is golf cart accessible will be a very big deal to them.

[dewilson58]

Originally Posted by Bill14564

Aldi is a grocery.

I don't buy everything at any one store. Each of the stores I go to have something unique that I like. I haven't paid enough attention to Aldi to know if I could live with that as my only store.

For some that are cart bound, having an Aldi that is golf cart accessible will be a very big deal to them.

Agree

[dewilson58]

Originally Posted by mraines

My understanding is the Developer gets a cut of the profits as well as rent.

Wrong understanding.

[retiredguy123]

Originally Posted by dewilson58

Wrong understanding.

I agree. There are about 10 Publix stores in The Villages area, and each one has gross sales of about $40 million per year. I would be very surprised if they are sharing any of this revenue with the landlord. It would make a lot more sense for them to buy land and build their own stores. In the north, Giant builds their own stores and even owns their own construction company. These large stores may have a landlord, but they certainly don't need one.

[Bill14564]

Originally Posted by retiredguy123

I agree. There are about 10 Publix stores in The Villages area, and each one has gross sales of about $40 million per year. I would be very surprised if they are sharing any of this revenue with the landlord. It would make a lot more sense for them to buy land and build their own stores. In the north, Giant builds their own stores and even owns their own construction company. These large stores may have a landlord, but they certainly don't need one.

Of the five Publix closest to me, four are on land owned by companies with addresses in Sumter Landing or Brownwood. The fifth, Trailwinds, is on land owned by a company out of Tampa.

I am not about to look up every company that is golf-cart accessible, but it appears to be the rare case (CostCo might be one) where the Villages sells the land rather than leases it.

As far as sharing profits - percentage rent appears to be not uncommon for retail leasing. I would be surprised to learn it wasn't used by the Villages.

[dewilson58]

Originally Posted by Bill14564

As far as sharing profits - percentage rent appears to be not uncommon for retail leasing. I would be surprised to learn it wasn't used by the Villages.

If used, TV does a percent of revenues, not profits.
(as does most landlords)
Profits can be manipulated.

[BrianL99]

Originally Posted by mraines

My understanding is the Developer gets a cut of the profits as well as rent.

Retail Leasing "rent" typically includes 4 components, fixed rent, CAM, taxes and % of revenue above base.

Fixed Rent is usually a price per square foot.

CAM = Common Area Maintenance charges.

Taxes = proportionate share of property taxes.

% above base = The Lessor typically gets a small percentage of the gross revenue, after a "base" number (1% of revenue after $5M, or whatever it may be).

[retiredguy123]

Originally Posted by BrianL99

Retail Leasing "rent" typically includes 4 components, fixed rent, CAM, taxes and % of revenue above base.

Fixed Rent is usually a price per square foot.

CAM = Common Area Maintenance charges.

Taxes = proportionate share of property taxes.

% above base = The Lessor typically gets a small percentage of the gross revenue, after a "base" number (1% of revenue after $5M, or whatever it may be).

I agree, but there is a huge difference between leasing to a small gift shop and to a large grocery store, like Publix. In The Villages, the developer needs Publix more than Publix needs the developer.

[Topspinmo]

Originally Posted by kansasr

Oh the horror of living in a third world community....having to go 4 miles further for more "upscale" grocery shopping. And my Publix was also out of 1% milk this week the one day I was there. I actually had to make a separate trip the following day to get milk. Such a tough life.

Aren’t we kinda in 3rd world county?

[Topspinmo]

Originally Posted by kcrazorbackfan

My exact thoughts; such an unfair world for some here in TV.

Actually don’t even have to go, just have it delivered. I see Kroger’s truck all the time.

[Normal]

I would be for an Albertsons instead of seeing more Publix stores.

[Number 10 GI]

Originally Posted by Topspinmo

Aren’t we kinda in 3rd world county?

"You're traveling through another dimension, a dimension not only of sight and sound but of mind. That's the signpost up ahead – your next stop, the Twilight Zone!"

[bagboy]

Originally Posted by Normal

I would be for an Albertsons instead of seeing more Publix stores.

We went to Albertsons in Key West (now closed) a few years ago. It was absolutely the filthiest business of any kind I had ever been in. It was so bad in fact, we walked back out without shopping and I've not been in another one since. Apparently some are better than others

[CFrance]

Originally Posted by bagboy

We went to Albertsons in Key West (now closed) a few years ago. It was absolutely the filthiest business of any kind I had ever been in. It was so bad in fact, we walked back out without shopping and I've not been in another one since. Apparently some are better than others

That's interesting, because back when we were spending winters in Key West, the Publix was absolutely filthy, and Albertson's was very clean. It had the most amazing homemade rosemary olive bread, too.
But then it got sold, so I don't know what happened to it. We were there from 2004 to 2009.