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Apple offered 5 years of free rent to open in City Creek

Posted: Fri Jun 01, 2012 9:18 pm
by _Panopticon

Re: Apple offered 5 years of free rent to open in City Creek

Posted: Fri Jun 01, 2012 11:38 pm
by _Maxrep
Aha! Some time back I had mentioned that the church would do would ever it took to create the appearance of success at city creek, even if it meant drastic reductions in retail lease rates to fill the mall.

They slashed the condo prices in half. Is anyone surprised? Sure apple can drive a deal, but I bet they are not the only retailer that leveraged city creek.

Re: Apple offered 5 years of free rent to open in City Creek

Posted: Sat Jun 02, 2012 12:13 am
by _DarkHelmet
The church should offer free leases, but require 10% of the tenant's profits to be given as tithes to the church.

Re: Apple offered 5 years of free rent to open in City Creek

Posted: Sat Jun 02, 2012 12:21 am
by _Quasimodo
DarkHelmet wrote:The church should offer free leases, but require 10% of the tenant's profits to be given as tithes to the church.


Five years free rent for forbidden fruit?

Re: Apple offered 5 years of free rent to open in City Creek

Posted: Sun Jun 03, 2012 9:39 pm
by _moksha
Isn't this in fulfillment of the prophecy, "Build Apple and they will come"? Anyway, this works for baseball diamonds built in corn fields.

Re: Apple offered 5 years of free rent to open in City Creek

Posted: Mon Jun 04, 2012 3:10 pm
by _Drifting
I wonder what those stores who got less than five years rent free are going to be discussing at their next monthly meeting with the City Creek Centre Managenent....

Re: Apple offered 5 years of free rent to open in City Creek

Posted: Mon Jun 04, 2012 3:17 pm
by _Yoda
Where is Polygamy Porter? He is a member and co-founder of the Cult of Mac! He should be rejoicing with this news!

All hail the Cult of Mac!!! :biggrin:

Re: Apple offered 5 years of free rent to open in City Creek

Posted: Mon Jun 04, 2012 3:29 pm
by _Willy Law
From what I understand Macy's and Nordstrom also pay 0 rent at CityCreek. I believe this is pretty standard for these type of stores to anchor a center. It is also fairly common to offer rent abatement to new tenants, but I have never heard of five years. Most I have ever seen is one year and that is usually from new, struggling centers that are desperate to get leasing going.

Re: Apple offered 5 years of free rent to open in City Creek

Posted: Tue Jun 05, 2012 6:29 pm
by _The Mighty Builder
You don't know that, Nobody knows for sure, You weren't there.