Colonie Center owner looks at possible sale

[MedicCook]

Colonie Center owner looks at possible sale

Feldman Mall Properties Inc. has hired investment banker Friedman, Billings, Ramsey & Co. Inc. to explore strategic alternatives to raise its stock price.

The options could include selling off assets or selling the company itself.

What that might mean for Colonie Center, which is in the midst of a major renovation, was not immediately clear.

http://timesunion.com/AspStories/story.asp?storyID=595274&category=&BCCode=&newsdate=6/5/2007

[Cutesunshine]

I think once their finished with the renovations, they're profits will soar. Crossgates charges something like $1k a month per square foot lease for their renters.

[sws4420]

I'm not sure it's quite that high.

[Cutesunshine]

Okay.

[sws4420]

Assuming you meant the smaller stores inside, maybe. But not stores like Sears. Sears itself has to be 150,000 square feet itself alone, maybe more. Do you really think many more people will go there once the renovations are completed? We live 4 feet from there and I don't see us going there any more frequently.

[Cutesunshine]

We're always broke. What about those GE wives who get to stay home and spend their husbands money every day. I'm sure crossgates is old.

Dicks paid $1k a month per square foot, I've helped glenn do the expense reports.

[sws4420]

Over $1 million a month? Seems a little steep to me.

[Cutesunshine]

Its part of the reason its hard to keep stores in there, and why there is so many empty stores.