Retailers flee pricy locations in MoBay

[Karl]

Jamaica Gleaner Business

Published: Monday Sunday | January 24, 2010

Retailers flee pricy locations in MoBay



The commercial real-estate market is seeing a shift in demand by retailers who are giving up space in high-rent locations and seeking inexpensive display, storage and operating space in Montego Bay, usually in the centre of the town.


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[Karl]

mmmmm?

[Peter R]

"Lachu Ramchandani said at his Blue Diamond Plaza, which was built at Ironshore in the early 1990s, that "prices are very low".
Monthly charges for available stores at Blue Diamond range from US$500 to US$800 per month, plus general consumption tax.
The stores range in size from 550 square feet to 800 square feet, with basic rental set at US$10 per square foot, but Ramchandani still has several empty shops on the market."




Sum ting wong wid de mat's... $10 per sq.ft. times 550 sq. ft. = $5500 US anyway...or maybe I just had too much to drink!

Must be $1 US per sq ft...

[Karl]

Yuh seit?!

[Mosiah]

I know some small stores on the Hip Strip (Gloucester Avenue) go for US$2,000 a month! But some do manage to pay it so I guess everyting criss!