When would be next housing Bottom?

[Irvinecommuter]

And it goes the other way, these smaller businesses may not want to lease from TIC because their financial requirements are too high and it won't be profitable. From what I can remember when dealing with TIC, the percentage of sales alone was a big deterrent.

Diamond Jamboree is not a tenant friendly place.  I know some people who rented from the same landlord up in DB.

 

[Irvinecommuter]

From an outsider looking in. It looks like they are trying to get max dollar per sqft. It?s really sad what happened to Marrie Calenders.

Sometimes it?s not all about the money.

It's not really about that...it's about the percentage of gross revenue TIC gets...Marie Calendar was barely getting by. 

I also know that TIC is not super happy about Sam Woo because they have a cash business and thus "may" underreport their earnings to avoid taxes and TIC.

 

[Kenkoko]

I don't know how true this is considering they failed to get Mitsuwa, HK market, the first 85 Deg in US, the first Meet Fresh in US, BCD, Karu Sushi, Capital Seafood (I know one came later in Spectrum)...I think it's a

Yes, 85 degree was turned down repeatedly by TIC. One 85 degree's CFOs wrote a big critical article in the Chinese newspaper hammering TIC. It was big news in the Chinese community because many wanted 85 degree.

TIC's fundamental misunderstanding of foreign/ethnic businesses is real.

 

[Irvinecommuter]

I don't know how true this is considering they failed to get Mitsuwa, HK market, the first 85 Deg in US, the first Meet Fresh in US, BCD, Karu Sushi, Capital Seafood (I know one came later in Spectrum)...I think it's a

Yes, 85 degree was turned down repeatedly by TIC. One 85 degree's CFOs wrote a big critical article in the Chinese newspaper hammering TIC. It was big news in the Chinese community because many wanted 85 degree.

TIC's fundamental misunderstanding of foreign/ethnic businesses is real.

Of course...this pales in comparison to Five Point's ignorance of Asian businesses.  I mean GP is probably like 70% Asian...they should be opening up a Diamond Jamboree retail mall...maybe two in the area.

 

[eyephone]

No matter how you slice it and dice it. Profits over relationships and consumers. Kind of sad if you ask me.

I?m sure there are reits that can choose not to renew leases to get more money. But they keep them because it?s an achorntenant or other reasons.

If they were not making any money. Than that?s another story.

From an outsider looking in. It looks like they are trying to get max dollar per sqft. It?s really sad what happened to Marrie Calenders.

Sometimes it?s not all about the money.

It's not really about that...it's about the percentage of gross revenue TIC gets...Marie Calendar was barely getting by. 

I also know that TIC is not super happy about Sam Woo because they have a cash business and thus "may" underreport their earnings to avoid taxes and TIC.

 

[Irvinecommuter]

No matter how you slice it and dice it. Profits over relationships and consumers. Kind of sad if you ask me.

I?m sure there are reits that can choose not to renew leases to get more money. But they keep them because it?s an achorntenant or other reasons.

If they were not making any money. Than that?s another story.

From an outsider looking in. It looks like they are trying to get max dollar per sqft. It?s really sad what happened to Marrie Calenders.

Sometimes it?s not all about the money.

It's not really about that...it's about the percentage of gross revenue TIC gets...Marie Calendar was barely getting by. 

I also know that TIC is not super happy about Sam Woo because they have a cash business and thus "may" underreport their earnings to avoid taxes and TIC.

I don't understand this POV...if Marie Calendar was such an important business...it would have more business.  But neither it nor Denny's attract the new population in Irvine, not sure why they should stay.

 

[eyephone]

No matter how you slice it and dice it. Profits over relationships and consumers. Kind of sad if you ask me.

I?m sure there are reits that can choose not to renew leases to get more money. But they keep them because it?s an achorntenant or other reasons.

If they were not making any money. Than that?s another story.

From an outsider looking in. It looks like they are trying to get max dollar per sqft. It?s really sad what happened to Marrie Calenders.

Sometimes it?s not all about the money.

It's not really about that...it's about the percentage of gross revenue TIC gets...Marie Calendar was barely getting by. 

I also know that TIC is not super happy about Sam Woo because they have a cash business and thus "may" underreport their earnings to avoid taxes and TIC.

I don't understand this POV...if Marie Calendar was such an important business...it would have more business.  But neither it nor Denny's attract the new population in Irvine, not sure why they should stay.

That?s your opinion. To be honest in my humble opinion Marie Calendar?s pies taste good. (for the record I don?t always eat pies or maybe I do. Lol)

So what?s ther term new population mean?

 

[Irvinecommuter]

No matter how you slice it and dice it. Profits over relationships and consumers. Kind of sad if you ask me.

I?m sure there are reits that can choose not to renew leases to get more money. But they keep them because it?s an achorntenant or other reasons.

If they were not making any money. Than that?s another story.

From an outsider looking in. It looks like they are trying to get max dollar per sqft. It?s really sad what happened to Marrie Calenders.

Sometimes it?s not all about the money.

It's not really about that...it's about the percentage of gross revenue TIC gets...Marie Calendar was barely getting by. 

I also know that TIC is not super happy about Sam Woo because they have a cash business and thus "may" underreport their earnings to avoid taxes and TIC.

I don't understand this POV...if Marie Calendar was such an important business...it would have more business.  But neither it nor Denny's attract the new population in Irvine, not sure why they should stay.

That?s your opinion. To be honest in my humble opinion Marie Calendar?s pies taste better than other bakeries.

So what?s ther term new population mean?

Of course it's my opinion and I love Marie Calendar pies too but money talks.  If Marie Calendar still attracts business, it would still be there.  Clearly it does not, I mean Marie Calendar did declare BK in 2011 and close a bunch of stores. 

New population...younger and Asian.  It's demographics. 

Removing the family-casual chain from its portfolio is in line with the Irvine Co.?s post-recession leasing strategy.

Last year, the same thing happened to El Cholo Mexican restaurant. It closed after a 15-year run on Alton Parkway in Irvine because it couldn?t renew its lease with the Irvine Co. It was replaced by a revamped version of California Pizza Kitchen.

Over the last five years, the Newport Beach developer and landlord has replaced old-school restaurant brands with chef-driven and independent chains and bistros.

?Our Orange County customer is asking for unique, one-of-a-kind type concepts,? Dan Sheridan, an Irvine Co. executive, told the Register in 2012. Sheridan left the company in 2014.

https://www.ocregister.com/2016/01/02/irvine-co-forces-closure-of-a-marie-callenders-in-irvine/

It wasn't exactly great before it closed either
https://www.yelp.com/biz/marie-callenders-restaurant-and-bakery-irvine

 

[eyephone]

Bingo! You said it money talks. That?s what I said all along.

No matter how you slice it and dice it. Profits over relationships and consumers. Kind of sad if you ask me.

I?m sure there are reits that can choose not to renew leases to get more money. But they keep them because it?s an achorntenant or other reasons.

If they were not making any money. Than that?s another story.

From an outsider looking in. It looks like they are trying to get max dollar per sqft. It?s really sad what happened to Marrie Calenders.

Sometimes it?s not all about the money.

It's not really about that...it's about the percentage of gross revenue TIC gets...Marie Calendar was barely getting by. 

I also know that TIC is not super happy about Sam Woo because they have a cash business and thus "may" underreport their earnings to avoid taxes and TIC.

I don't understand this POV...if Marie Calendar was such an important business...it would have more business.  But neither it nor Denny's attract the new population in Irvine, not sure why they should stay.

That?s your opinion. To be honest in my humble opinion Marie Calendar?s pies taste better than other bakeries.

So what?s ther term new population mean?

Of course it's my opinion and I love Marie Calendar pies too but money talks.  If Marie Calendar still attracts business, it would still be there.  Clearly it does not, I mean Marie Calendar did declare BK in 2011 and close a bunch of stores. 

New population...younger and Asian.  It's demographics. 

Removing the family-casual chain from its portfolio is in line with the Irvine Co.?s post-recession leasing strategy.

Last year, the same thing happened to El Cholo Mexican restaurant. It closed after a 15-year run on Alton Parkway in Irvine because it couldn?t renew its lease with the Irvine Co. It was replaced by a revamped version of California Pizza Kitchen.

Over the last five years, the Newport Beach developer and landlord has replaced old-school restaurant brands with chef-driven and independent chains and bistros.

?Our Orange County customer is asking for unique, one-of-a-kind type concepts,? Dan Sheridan, an Irvine Co. executive, told the Register in 2012. Sheridan left the company in 2014.

https://www.ocregister.com/2016/01/02/irvine-co-forces-closure-of-a-marie-callenders-in-irvine/

It wasn't exactly great before it closed either
https://www.yelp.com/biz/marie-callenders-restaurant-and-bakery-irvine

 

[Irvinecommuter]

Bingo! You said it money talks. That?s what I said all along.

But it's not just about money...it about bringing in businesses that people want to go to.  Why have a bunch of stores/restaurant around for "nostalgia" purposes?  I love Marie Calendar pie but have never stepped into that particular MC.  Nor have I gone to Chili's, Outback, or Denny's.

Why would keeping MC around be good for customers?

 

[eyephone]

They don?t just base it just on demographics. Using your theory there would only be Asian related business. Clearly that?s not true.

These are examples for fun and discussion purposes only.

Burrito place say bye. Noodle place coming. Sandwich shop say bye to be replaced by rice bowl shop.

(Btw This hasn?t happened)

 

[Irvinecommuter]

They don?t just base it just on demographics. Using your theory there would only be Asian related business. Clearly that?s not true.

These are examples for fun and discussion purposes only. (What If theories)
Burrito place say bye. Noodle place coming. Sandwich shop say bye to be replaced by rice bowl shop.

(Btw This hasn?t happened)

It's not just Asian...it's also geared toward younger generation who want lighter and fresh foods as well as fusion type foods.  TIC has brought in places like Urban Plates, Snooze, Counter, Hopdaddy, Wokcano, etc.  as well as Chinese restaurants, Korean BBQ, and others. 

But ultimately...I don't get your point, shouldn't TIC be trying to bring in business that appeal to the demographics of the area?

 

[irvinehomeowner]

Bingo! You said it money talks. That?s what I said all along.

But it's not just about money...it about bringing in businesses that people want to go to.  Why have a bunch of stores/restaurant around for "nostalgia" purposes?  I love Marie Calendar pie but have never stepped into that particular MC.  Nor have I gone to Chili's, Outback, or Denny's.

Why would keeping MC around be good for customers?

This is all subjective. There is a big enough demographic in Irvine that likes those places you never go to.

I miss Jalapenos, MC, IHOP, Round Table, Soup Exchange (old school reference).

 

[Irvinecommuter]

Bingo! You said it money talks. That?s what I said all along.

But it's not just about money...it about bringing in businesses that people want to go to.  Why have a bunch of stores/restaurant around for "nostalgia" purposes?  I love Marie Calendar pie but have never stepped into that particular MC.  Nor have I gone to Chili's, Outback, or Denny's.

Why would keeping MC around be good for customers?

This is all subjective. There is a big enough demographic in Irvine that likes those places you never go to.

I miss Jalapenos, MC, IHOP, Round Table, Soup Exchange (old school reference).

Of course its subjective but again money talks...if those restaurants were doing great and TIC were getting good returns, why wouldn't they keep those restaurants? 

MC, IHOP, and Round Table are not just closing in IRvine...they are closing in a lot of places...shifting demographics that look for different types of food.
https://www.ocregister.com/2016/12/...e-pizzas-in-orange-county-5-chevys-fresh-mex/
https://www.usatoday.com/story/mone...rent-company-seeks-buy-more-brands/359553002/
https://www.businessinsider.com/app...o-120-restaurants-as-millennials-ditch-2018-2

In the past, executives have said that failed attempts to win over millennial diners is at least partially to blame for the brands' struggles, especially in the case of Applebee's.

"Over the past few years, the brand's set out to reposition or reinvent Applebee's as a modern bar and grill in overt pursuit of a more youthful and affluent demographic with a more independent or even sophisticated dining mindset, including a clear pendulum swing towards millennials," John Cywinski, Applebee's brand president, said in a call with investors last year.

 

[iacrenter]

No matter how you slice it and dice it. Profits over relationships and consumers. Kind of sad if you ask me.

I?m sure there are reits that can choose not to renew leases to get more money. But they keep them because it?s an achorntenant or other reasons.

If they were not making any money. Than that?s another story.

From an outsider looking in. It looks like they are trying to get max dollar per sqft. It?s really sad what happened to Marrie Calenders.

Sometimes it?s not all about the money.

It's not really about that...it's about the percentage of gross revenue TIC gets...Marie Calendar was barely getting by. 

I also know that TIC is not super happy about Sam Woo because they have a cash business and thus "may" underreport their earnings to avoid taxes and TIC.

I don't understand this POV...if Marie Calendar was such an important business...it would have more business.  But neither it nor Denny's attract the new population in Irvine, not sure why they should stay.

TIC was slow to make changes to their mall portfolio but overall  I?ve  been happy with the changes (minus losing Curry House). They poured money into revitalizing all their strip malls and at the same time updated the tenant mix to better serve the changing demographics.

 

[Irvinecommuter]

TIC was slow to make changes to their mall portfolio but overall  I?ve  been happy with the changes (minus losing Curry House). They poured money into revitalizing all their strip malls and at the same time updated the tenant mix to better serve the changing demographics.

Still trying to figure out what happened to Curry House...it clearly had a plan to reopen and it was pretty popular.  Maybe it is moving to a non-TIC center.

TIC definitely getting better re younger/hipper/more ethic businesses....some good additions recently.

 

[irvinehomeowner]

It's not just Asian...it's also geared toward younger generation who want lighter and fresh foods as well as fusion type foods.  TIC has brought in places like Urban Plates, Snooze, Counter, Hopdaddy, Wokcano, etc.  as well as Chinese restaurants, Korean BBQ, and others. 

Eh, Urban is overpriced, Snooze is too fru-fru (I'll take Stacks instead), Counter and Hopdaddy are meh... and Wokcano straight up is the bleh.

There used to be a Veggie Grill in Crossroads that closed... that's a younger generation place.

I think for the most part TIC is just after the money... if you can afford the lease and the juice (yes... it's juice no matter how you look at it), TIC will take you.

I know from personal experience how TIC is like with leasing retail... and I've talked to other owners who mirror that sentiment.  So back to your point, it could be TIC's lack of vision but I also don't think some of these places people want in Irvine could afford it... that's why they open up in surrounding cities... or in the non-TIC retail centers.

 

[eyephone]

No matter how you slice it and dice it. Profits over relationships and consumers. Kind of sad if you ask me.

I?m sure there are reits that can choose not to renew leases to get more money. But they keep them because it?s an achorntenant or other reasons.

If they were not making any money. Than that?s another story.

From an outsider looking in. It looks like they are trying to get max dollar per sqft. It?s really sad what happened to Marrie Calenders.

Sometimes it?s not all about the money.

It's not really about that...it's about the percentage of gross revenue TIC gets...Marie Calendar was barely getting by. 

I also know that TIC is not super happy about Sam Woo because they have a cash business and thus "may" underreport their earnings to avoid taxes and TIC.

I don't understand this POV...if Marie Calendar was such an important business...it would have more business.  But neither it nor Denny's attract the new population in Irvine, not sure why they should stay.

TIC was slow to make changes to their mall portfolio but overall  I?ve  been happy with the changes (minus losing Curry House). They poured money into revitalizing all their strip malls and at the same time updated the tenant mix to better serve the changing demographics.

Yeah what?s up with Curry House! It?s sad what happens to them. really sad

 

[irvinehomeowner]

Bingo! You said it money talks. That?s what I said all along.

But it's not just about money...it about bringing in businesses that people want to go to.  Why have a bunch of stores/restaurant around for "nostalgia" purposes?  I love Marie Calendar pie but have never stepped into that particular MC.  Nor have I gone to Chili's, Outback, or Denny's.

Why would keeping MC around be good for customers?

This is all subjective. There is a big enough demographic in Irvine that likes those places you never go to.

I miss Jalapenos, MC, IHOP, Round Table, Soup Exchange (old school reference).

Of course its subjective but again money talks...if those restaurants were doing great and TIC were getting good returns, why wouldn't they keep those restaurants? 

MC, IHOP, and Round Table are not just closing in IRvine...they are closing in a lot of places...shifting demographics that look for different types of food.
https://www.ocregister.com/2016/12/...e-pizzas-in-orange-county-5-chevys-fresh-mex/
https://www.usatoday.com/story/mone...rent-company-seeks-buy-more-brands/359553002/
https://www.businessinsider.com/app...o-120-restaurants-as-millennials-ditch-2018-2

In the past, executives have said that failed attempts to win over millennial diners is at least partially to blame for the brands' struggles, especially in the case of Applebee's.

"Over the past few years, the brand's set out to reposition or reinvent Applebee's as a modern bar and grill in overt pursuit of a more youthful and affluent demographic with a more independent or even sophisticated dining mindset, including a clear pendulum swing towards millennials," John Cywinski, Applebee's brand president, said in a call with investors last year.

I am with you but that's what I'm trying to say. 10-20 years ago, these hip Asian places you like had poor financials while these staple chains were doing well. So it wasn't just TIC's lack of vision, it was the dollar bill.

Now that these places you like can prove their financial value, TIC is giving them a chance (but I bet you they are fleecing them).

 

[eyephone]

Say no more. You said it not me.