Looks like there is some trouble with Loftworks.
http://m.bizjournals.com/stlouis/news/2 ... twt&r=full
http://m.bizjournals.com/stlouis/news/2 ... twt&r=full
4 Loftworks Properties Taken Over by Eterprise Bank
4 Loftworks Properties Taken Over by Eterprise Bank
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Maybe he up the price of left bank lease to pay some of his debt.downtown2007 wrote:Looks like there is some trouble with Loftworks.
http://m.bizjournals.com/stlouis/news/2 ... twt&r=full
So he tried to increase the rent and then ended up with the tenant leaving?Redbrickcity wrote:Maybe he up the price of left bank lease to pay some of his debt.downtown2007 wrote:Looks like there is some trouble with Loftworks.
http://m.bizjournals.com/stlouis/news/2 ... twt&r=full
Unfortunate -
Doubt raising the rent would have helped much - the tax bill was large
Heller was involved with the Maurizio's pizza building - I was hoping he could pull it together
Doubt raising the rent would have helped much - the tax bill was large
Heller was involved with the Maurizio's pizza building - I was hoping he could pull it together
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^ Not sure of this specific case with LBB, but unfortunately it highlights the weakness of the retail sector downtown.... property owners are looking to fill tons of vacant storefronts and I'm also sure that lackluster rents impacts the pace of residential development. Having a couple hundred more residents, a couple hundred students, and more hotel activity in the OPO area can't happen soon enough.
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It was Enterprise Bank that demanded Left Bank leave. Neither Heller nor his other creditors agreed ... but to Enterprise, it was just free rent and therefore a waste.