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  • Its Official

    I posted on here months ago about this but I dont know if any of your remember...... We have a new 5 lane HWY coming in RIGHT where our building is and sure enough the meeting was last night and the buidling is coming down......

    My landlord owns the building and there are 4 businesses in it, an antique store, accountant, beauty salon (my landlords), and my shop. I went in & had my hair done today and she assured me that she was getting bought out and that they had to help her relocate the businesses and that the state (or whoever handles these things) would also help pay for me to move.
    She is looking at where to have another strip mall built and said this could be a blessing, as our building is very old now.

    Has anyone dealt w/ this before? I have 3 yrs until were supposed to be torn down and Im not so sure if I should move it now (the biz) - or go with her offer and hope a new building gets built. Her and I have a wonderful relationship and I love where Im at. Do I stick it out there a few more years or attempt to move it in August when my lease is up? Keep in mind im in a very rural area that is starting to boom likecrazy, but rental buildings are hard to find.

  • #2
    My heart goes out to you, I know what you are going through as they are widing our street to 4 lanes and we not sure yet but might take our home in which we built on a room to have my shop in.
    We put our sweat,time and lots of money in this home in the last 25yrs. I sure hate to see this happen, but nothing we can do and believe me we all tried to stop it.


    • #3
      This is called Iminent Domain and it fairly common here in Florida as people move here more and more.

      Yes, they will also pay for you to move as well as give her money to help her buy a new strip mall. She will paid on FAIR market value, age, location, etc. will play a part. This money should be enough for a great downpayment on another building. But, what we see commonly here in Florida is they are paid a price more than what they could sell for BUT in no way enough to buy another place. The reason... other places have a higher value. The government would think twice about going into an area and tearing down MILLIONs of dollars worth of buildings due to the fact that this money must come from tax payers. Your location was probably choosen because of it being more affordable to acquire.


      • #4
        I would say, stick it out for a while, especially if they (the state or whoever) are going to help with your moving expenses and such. If you don't renew your lease, you will be out before they are ready to start planning for demolition.

        You also may want to get more information on how much they are going to help YOU in relocating. What expenses will be reimbersable. I'm sure you may have added cost, such as deposits, utilities, renovations etc. that you wouldn't have had to incur if you had stayed in your current location.

        Heck, if they are going to pay these things, why move until you can get some help with these cost's?


        • #5
          All good points, ty I have only been open 8 mos and have over 300 clients now and subdivisions are popping up like crazy! I cant imagine how we'll be in 3 more years? I may need a bigger space anyway. Well, at least I know........hubby & I were thinking of adding another bathing room and doing ceramic tile in the lobby so at least now we know to wait and not put anymore moola into the building were in now.