*** ALERT: Glimcher Unethical Leasing & Business Practices

If Glimcher changes their mind on a tenant, they makes it a normal business practice to defraud tenants out of construction allowances while tenants are then forced to battle out with sub-contractors and general contractors to stay afloat and avoid liens. They then swoop in to settle for pennies on the dollar with general contractors to regain spaces, and then sue tenants back in bad faith to recoup any expenses even after they re-lease, thus gaining undue enrichment by double-dipping.

This is how a developer gets their units built out with someone else's money at a significant savings. Those wise enough to negotiate leases properly and don't move in as a result until get paid still get sued by by their $500 + per/hr attorneys. Those pressured to go in get stiffed and are out in the cold.

Many tenants have left and more leaving the development. Leasing representative located at Scottsdale Quarter revealed inside information on how it's done.

Glimcher has hundreds of cases in litigation nationwide and many are just like this.

Stockholders, analysts and potential tenants beware.

Giggle debuts in Arizona with Scottsdale Quarter location

Scottsdale, Ariz. -- Columbus, Ohio-based Glimcher Realty Trust announced that infant furniture, accessory and clothing retailer giggle has joined the growing tenant roster at its Scottsdale Quarter project in Scottsdale, Ariz.

The new store, which opened Dec. 2, is giggle’s 13th store and first in the state of Arizona.

The giggle store will join other national tenants at Scottsdale Quarter, including Nike; Apple Store; A/X Armani Exchange; H&M, West Elm; and IPic Theaters.

A 28-acre mixed-use development, Scottsdale Quarter occupies 370,000 sq. ft. Phase I of the three-phase development came online in 2009, with Phase II opening throughout the balance of 2010 and into first quarter 2011.

Comments

- 2:43 AM
larajacq says

If Glimcher changes their mind on a tenant, they makes it a normal business practice to defraud tenants out of construction allowances while tenants are then forced to battle out with sub-contractors and general contractors to stay afloat and avoid liens. They then swoop in to settle for pennies on the dollar with general contractors to regain spaces, and then sue tenants back in bad faith to recoup any expenses even after they re-lease, thus gaining undue enrichment by double-dipping. This is how a developer gets their units built out with someone else's money at a significant savings. Those wise enough to negotiate leases properly and don't move in as a result until get paid still get sued by by their $500 + per/hr attorneys. Those pressured to go in get stiffed and are out in the cold. Many tenants have left and more leaving the development. Leasing representative located at Scottsdale Quarter revealed inside information on how it's done. Glimcher has hundreds of cases in litigation nationwide and many are just like this. Stockholders, analysts and potential tenants beware.

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