This is the center that houses Ninfa's, Spice etc. Currently owned by a Miami company. This doesnt sound real good although I suspect everything will remain fine. The starting bid is 2.2 million. Which seems really low for a building its size and housing all it houses currently and its location.
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The River Square Center is going to auction this week.
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Last: 4 yr ago by BCL79
If its a Miami based company they just might be restructuring their finances and looking for cash now for more Florida or East Coast based investments.
So them selling the property might not be any indication of the health of the said property.
So them selling the property might not be any indication of the health of the said property.
That does sound like a bargain.
new sicem365 studio?
"Smarter than the Average Bear."
Surely one of our wealthy Waco residents would love to take this one. It's a good location that's not going away in our lifetimes.
hodedofome said:
Surely one of our wealthy Waco residents would love to take this one. It's a good location that's not going away in our lifetimes.
Chip and Joanna
Most of the Waco heavy hitters are cut from the same cloth, distressed assets. This deal might be rich by the time bidding is over.hodedofome said:
Surely one of our wealthy Waco residents would love to take this one. It's a good location that's not going away in our lifetimes.
I'm sure that is just the minimum amount the lender would take. It's worth much more than that and will sell for more.
So does anyone know what it went for?
Per the Trib: "Ten-X Commercial Real Estate is sponsoring an online auction March 9 through 11."
Wwbear said:Most of the Waco heavy hitters are cut from the same cloth, distressed assets. This deal might be rich by the time bidding is over.hodedofome said:
Surely one of our wealthy Waco residents would love to take this one. It's a good location that's not going away in our lifetimes.
Waco was a distressed asset for decades after the tornado. Chip and Jo have made it a hot stock. Time to switch from value investing to growth/momentum/trend following.
Was talking to the listing broker today. He expects it to go in the $6-$7M range
The guy I tried to sell it to thought too much empty space. So, afraid of the insanity of a bidding situation. I like the building ... but I dont have $6m+
What did it end up selling for?
Edmond Bear said:
What did it end up selling for?
Approximately $6.8M including fees.
Thanks.
Sounds like Sicem 365 should get in it...great super tailgate, radio station..gym...brewpub..... 
That's genius level thinking. Here I was thinking Rhule's old $10m house should be Sicem365 Ranch. $6.8m is bargain compared to my idea.
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If they want to cut a deal on a 1000-1500 sq/ft, we'll talk.airforcebear said:
Sounds like Sicem 365 should get in it...great super tailgate, radio station..gym...brewpub.....
Brian Ethridge said:If they want to cut a deal on a 1000-1500 sq/ft, we'll talk.airforcebear said:
Sounds like Sicem 365 should get in it...great super tailgate, radio station..gym...brewpub.....
They might if you did "remotes" from the shops in the square and talked about them.
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MaybeEdmond Bear said:Brian Ethridge said:If they want to cut a deal on a 1000-1500 sq/ft, we'll talk.airforcebear said:
Sounds like Sicem 365 should get in it...great super tailgate, radio station..gym...brewpub.....
They might if you did "remotes" from the shops in the square and talked about them.
Brian Ethridge said:If they want to cut a deal on a 1000-1500 sq/ft, we'll talk.airforcebear said:
Sounds like Sicem 365 should get in it...great super tailgate, radio station..gym...brewpub.....
They've got plenty of empty space.