Quote:
Originally Posted by Scottk
Is elitches really planning on moving??
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Being under contract doesn't mean that Elitch's is planning on shutting down and relocating next month. The purchase contract could have terms whereby Elitch's has to have a new location lined up before the Buyer can close one property and has a timeline in which to do so. Or there could be terms whereby the Buyer has to secure Elitch's a new location first.
I wonder how much Elitch's would get for their land in a sale? The original move cost close to $100M including environmental remediation and I imagine that you'd be talking at least $2-3M per acre in a sale. So you'd be talking a $200M sales price.