CoolDMZ wouldn’t be earning CoolDMZ’s pay if CoolDMZ wasn’t a contrarian on the Corti Brothers situation. I’m having trouble mustering a lot of sympathy for the Cortis after reading the Bee’s follow-up story today. I suppose I liked Corti Bros as much as the next guy, though my patronage of things that can be described as “upscale” is seldom to never. (Unless Nordstrom Rack counts as upscale?)
I’m not shocked that Heather Fargo called Darrell Corti and offered the city’s help in finding a new location. Would that help entail explaining how a month to month lease works? All I keep reading is that Corti fans will go wherever he decides to move, even if it is out of town. I hope there are some patrons who are be pissed that a 60 year old company allowed themselves to operate on a wing and a prayer for 20 years despite knowing how loyal their fans were. What if you live down the street, have been shopping there since 1970, and can’t drive?
Apparently Corti was paying 60 cents on the dollar for rent. If customers are paying $1.20 on the dollar for their products, according to figures I just made up, where is all the money going? Certainly not into real estate advisers…
Sure, it would suck if Corti closes down because they can’t find rent at the rate they were paying. But I can’t help feeling that some of the same people who would blame the eeevil management company or the eeevil Raley’s folks for this, wouldn’t offer the same sympathy to families who are losing their homes–for which they signed 30 year mortgages–because they failed to predict how they’d handle their adjustable rate mortgage. Just because folks who took a risk to buy their first house don’t offer a kickass wine section or a bonkers deli counter?
Let’s just hope other local institutions can learn from this situation. We all know real estate is crazy times USA right now, so for gosh sakes lock something down if you’re coasting by on month to month.