BizNews reports the Midway Square in the Midway District of Point Loma has sold for $5.25 million. The mini-mall at 3112 Midway Drive was sold to Midway Square LLC. The seller was another LLC, Winston Square LLC.
The property has15,271 square feet and has a number of auto-related businesses as tenants; Express Tire, Auto Serve Center, Suspension Plus and Smog Check.
For the capitalists and land speculators involved, the Midway Center has a bunch of positive attributes. It’s close to “a Target-anchored retail center that includes national retailers, Midway Village Shopping Center,” plus it’s close to two freeways, 5 and 8.
One of the reps for the seller bragged:
“This well-located center, which was 100% leased, generated a lot of interested investors.”
Well, just who are these interested investors who purchased title and who hide behind their corporate name? One corporation sells to another corporation. Are there any humans involved? Of course there are – but they don’t want you and I to know their names.
There’s no shenanigans here, just the day-to-day business of the capitalist free-for-all. Was there any discussion of the homeless in the area during the sale negotiations? Was there any thought to contributing to the large, industrial-sized tent for homeless veterans nearby by either the seller or the buyer?
{ 9 comments… read them below or add one }
Getting an LLC isn’t just to hide a name while Im sure some use as such. When you start investing that kind of money into a property it’s only the smart thing to do. It protects the owners of a property from having a law suit brought against them and losing everything they’ve worked for including their home.
As for talking about the homeless problem there was no cares or discussion. That square wouldn’t be my way to spend that much dough. Who knows, maybe the new owners want to tear it all down and put up some low income housing?
Oh frank, you are so silly!!!
Have you thought of moving to Venezuela? There is none of the capitalism that you hate so much down there.
Have you thought of taking a long walk off the OB Pier, curmudgeon ?
Big yawn at the last 2 paragraphs
I know, just wanted to express a different viewpoint – a different way of looking at a normal capitalist transaction.
I hope Express stays. They are my place for tires and oil changes.
As for the left’s concern for the homeless…..
Was there any discussion of the homeless when the Governor decided to build a $60 billion choo-choo in the desert?
Trying to solve transit issues and housing problems aren’t mutually exclusive. Intelligent folks can do more than one thing at a time.
Does that mean the right doesn’t have any concern for the homeless? The left is more compassionate, and cares for fellow beings.