Retail Chatr Commercial Real Estate Blog - Perishable Pundit
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<strong>Retail</strong> <strong>Chatr</strong> <strong>Commercial</strong> <strong>Real</strong> <strong>Estate</strong> <strong>Blog</strong> » <strong>Blog</strong> Archive » Fresh & Easy <strong>Real</strong> <strong>Estate</strong> Director Making E...http://www.retailchatr.com/2010/01/19/fresh-easy-real-estate-director-making-empty-threats/comment-page...Page 1 of 101/27/2010<strong>Retail</strong> <strong>Chatr</strong> <strong>Commercial</strong> <strong>Real</strong> <strong>Estate</strong> <strong>Blog</strong>• Home• About <strong>Retail</strong> <strong>Chatr</strong>• Subscribe to FeedFresh & Easy <strong>Real</strong> <strong>Estate</strong> Director Making Empty ThreatsPosted on January 19, 2010, 5:18 pm, by Chris Rodriguez, under Brokerage, Legal, <strong>Retail</strong>, Tenants, Thoughts.I just had to post this. I just closed a Fresh & Easy ground lease that was purchased by Fresh & Easy on12/31/09. Earlier today, we sent out an email blast announcing the sale of the property. I received the followingemail (with his attorney cc’d as well) from UK transplant Tom Scorer, <strong>Real</strong> <strong>Estate</strong> Director for Fresh & Easy at3:25 PM this afternoon:5tweetsretweetChris,I have received your email blast directly and from many other sources.The executed PSA contains a confidentiality clause, which clearly prohibits the publication of any details ofthe deal without our express permission, which was not sought and is not given. See below the relevantextract from the agreement:Please be advised that your publication breaches the recorded agreement. We are considering the action wewill take.Kind regardsTomTom Scorerfresh & easy Neighborhood Market Inc.<strong>Real</strong> <strong>Estate</strong> Director310-867-0418———— Disclaimer ————–This is a confidential email.Fresh and Easy may monitor and record all emails. The views expressed in
<strong>Retail</strong> <strong>Chatr</strong> <strong>Commercial</strong> <strong>Real</strong> <strong>Estate</strong> <strong>Blog</strong> » <strong>Blog</strong> Archive » Fresh & Easy <strong>Real</strong> <strong>Estate</strong> Director Making E...http://www.retailchatr.com/2010/01/19/fresh-easy-real-estate-director-making-empty-threats/comment-page...Page 2 of 101/27/2010this email are those of the sender and not Fresh and Easy. Fresh & EasyNeighborhood Market, Inc. 2120 Park Place, El Segundo, CA 90245Naturally, I could not resist responding to such foolishness. Here is the email I sent back to the bloke:Tom,This is one of the most ridiculous emails I have received in my career. Your claim is a joke and withoutmerit. I don’t really think I need to explain why but I will do so anyway.You (on behalf of Fresh & Easy) went out of your way to circumvent my involvement in this transaction,specifically refusing to include language in the purchase and sale agreement protecting my position andspecifically refusing to have brokerage representation in the purchase. As a result of your efforts, I am not aparty to your purchase and sale agreement and am therefore not bound by its terms.The property was marketed for sale for well over 1 year prior to your purchase. The terms of your leaseagreement are widely known. The date, purchase price and identity of the purchaser are public knowledge.If you take a moment to read the language of your PSA that you so kindly provided to me you may notice thatparticular phrase stating "to the extent reasonably practical." I would think that information that resides in thepublic domain would fall outside of this clause, don’t you?Lastly, I would think that any claim you may attempt to make would need to be based upon actual damages.Do you have actual damages? You may want to brush up on your US law. Your attorney is a very good one.You should consult him before sending out emails like this again in the future.At this point it seems like you may just be wasting your company’s cash on unnecessary legal fees. Maybe Ishould copy your superiors in the UK. I’m sure they would love to hear how you are spending your timethese days.Thanks for the new blog content. I haven’t written a post in quite some time. This one should be up shortly.Cheerio!ChrisP.S. – As a point of clarification, I did not consult any person or entity which was directly involved in thistransaction in preparing my email. I did not, nor am I required to, seek approval from anyone prior tosending the announcement.Tom, instead of threatening brokers with lawsuits, why don’t you focus your attention on opening stores that actuallyattract customers? Don’t you think that might be more productive and beneficial to the bottom line? Just a thought.For the record, the property was a ground lease. The leased fee interest (land) was purchased by Fresh & Easy on12/31/09 for $2,650,000 which was equivalent to an 8.49% CAP rate on the in-place ground rent of $225,000 / yearNNN. If you are a seller negotiating with Fresh & Easy to sell them your property I would think this would be a prettygood comp for you to reference when they submit their 9.50% CAP offers.I love citizen journalism.Related Posts:
<strong>Retail</strong> <strong>Chatr</strong> <strong>Commercial</strong> <strong>Real</strong> <strong>Estate</strong> <strong>Blog</strong> » <strong>Blog</strong> Archive » Fresh & Easy <strong>Real</strong> <strong>Estate</strong> Director Making E...http://www.retailchatr.com/2010/01/19/fresh-easy-real-estate-director-making-empty-threats/comment-page...Page 3 of 101/27/2010• Interesting Fresh & Easy Article• Fresh & Easy Display Ad Spotted in the Wild• Overpriced Deal of the WeekShareThisTags: CAP Rate, capitalization rate, Fresh & Easy, Tom ScorerComment (RSS) | TrackbackLogin• This blog post• All blog postsSubscribe to this blog post's comments through...••••Add tSubscribe in NewsGator OnlineAdd to My Yahoo!Feedblitz••••Add to PageflakesAdd to GoogleSubscribe with <strong>Blog</strong>linesAdd tRSS IconRSS FeedSubscribe via emailEmail AddressFollow the discussionSubscribeComments (12)CloseLogging you in...Login to IntenseDebateOr create an accountUsername or Email:Password:
<strong>Retail</strong> <strong>Chatr</strong> <strong>Commercial</strong> <strong>Real</strong> <strong>Estate</strong> <strong>Blog</strong> » <strong>Blog</strong> Archive » Fresh & Easy <strong>Real</strong> <strong>Estate</strong> Director Making E...http://www.retailchatr.com/2010/01/19/fresh-easy-real-estate-director-making-empty-threats/comment-page...Page 4 of 101/27/2010Forgot login?OpenIDCancel LoginCloseLogin with your OpenIDOr create an account using OpenIDOpenID URL:http://BackCancel LoginDashboard | Edit profile | Logout• Logged in asSort by: Date Rating Last Activity0 Vote up Vote downChris · 1 week agoBurn bridges much?Reply1 reply · active 1 week ago+1 Vote up Vote downChris Rodriguez 31p · 1 week agoMe or him? There was no bridge to burn in the first place. Did you read my email in the post?Reply0 Vote up Vote downToolHead · 1 week agoWhat a tool.Reply
<strong>Retail</strong> <strong>Chatr</strong> <strong>Commercial</strong> <strong>Real</strong> <strong>Estate</strong> <strong>Blog</strong> » <strong>Blog</strong> Archive » Fresh & Easy <strong>Real</strong> <strong>Estate</strong> Director Making E...http://www.retailchatr.com/2010/01/19/fresh-easy-real-estate-director-making-empty-threats/comment-page...Page 5 of 101/27/20100 Vote up Vote downjoshua · 1 week agohahahaaha. i love this stuff!Reply+1 Vote up Vote downSquare Feet 34p · 6 days agoSo I take it you represented the seller? As a broker, you may not be a party to the transaction, but the seller is. Still notmuch merit if everything is public as you indicate, but could be a headache nonetheless. Even if it goes anywhere, theywill have trouble with proving damages unless they can show that the seller told you (as their agent I presume) AND thatyour email blast caused Fresh & Easy to have to buy another ground lease at a 8.49% cap instead of the 9.5% that theyotherwise could have had you not sent out the blast.That sounds like a lot more effort than it's worth.Reply7 replies · active 5 days ago+1 Vote up Vote downChris Rodriguez 31p · 6 days agoThe seller did not tell me anything. He did not need to. I was the procuring cause and knew the agreed upon price and asyou noted above, this information is public knowledge anyway. I don't agree that publishing one comp can createdamages either. If that were the case, CoStar would be sued into oblivion.Reply0 Vote up Vote downAnonymouse · 6 days agoCoStar wouldn't be on the hook, the person or firm who told CoStar would be if they were bound to keep the dealconfidential. This is why you never want to sign an agreement with a NDA which relies on you to make sure your agentor representatives keep their mouth shut. That's just unnecessary risk. If the party really wants somebody to stay quiet,they should get a separate agreement from that person.Reply+1 Vote up Vote down
<strong>Retail</strong> <strong>Chatr</strong> <strong>Commercial</strong> <strong>Real</strong> <strong>Estate</strong> <strong>Blog</strong> » <strong>Blog</strong> Archive » Fresh & Easy <strong>Real</strong> <strong>Estate</strong> Director Making E...http://www.retailchatr.com/2010/01/19/fresh-easy-real-estate-director-making-empty-threats/comment-page...Page 6 of 101/27/2010Chris Rodriguez 31p · 6 days agoAgree totally. As for my CoStar comment, I would reference several recent (and pending) cases where websites are beingheld accountable for content published by their users.Reply+1 Vote up Vote downSquare Feet 34p · 6 days ago....you might get an email tomorrow about disclosing his email since the footer says it is confidentialReply+1 Vote up Vote downChris Rodriguez 31p · 5 days agoHe can't unilaterally bind me to any sort of confidentiality.Reply+1 Vote up Vote downSquare Feet 34p · 5 days agoi was joking :)Reply+1 Vote up Vote downChris Rodriguez 31p · 5 days agoOh, ok. I should have realized.ReplyPost a new commentOr post a video comment• Embed video
<strong>Retail</strong> <strong>Chatr</strong> <strong>Commercial</strong> <strong>Real</strong> <strong>Estate</strong> <strong>Blog</strong> » <strong>Blog</strong> Archive » Fresh & Easy <strong>Real</strong> <strong>Estate</strong> Director Making E...http://www.retailchatr.com/2010/01/19/fresh-easy-real-estate-director-making-empty-threats/comment-page...Page 7 of 101/27/2010• Add pollEnter text righthere!Comment as a Guest, or login:• Login to IntenseDebate• Login to Twitter• Login to OpenIDTweet this commentConnected as (Logout)Email (optional)Not displayed publicly.NameEmailWebsite (optional)Displayed next to your comments.Not displayed publicly.If you have a website, link to it here.OpenID URLhttp://Comment as a Guest or login using OpenIDSubmit CommentSubscribe to NoneComments by IntenseDebate« Holiday CRE VideoGreat Video on Presentations »
<strong>Retail</strong> <strong>Chatr</strong> <strong>Commercial</strong> <strong>Real</strong> <strong>Estate</strong> <strong>Blog</strong> » <strong>Blog</strong> Archive » Fresh & Easy <strong>Real</strong> <strong>Estate</strong> Director Making E...http://www.retailchatr.com/2010/01/19/fresh-easy-real-estate-director-making-empty-threats/comment-page...Page 8 of 101/27/2010• Search for:Search• Categories•• Recent Posts•Select Category<strong>Commercial</strong> R.E. CompaniesZoilath is your source for finding qualitycommercial brokerageswww.zoliath.com<strong>Commercial</strong> <strong>Real</strong> <strong>Estate</strong>Search from 1,000,000+ <strong>Commercial</strong> Properties.Free, No Registration!www.Showcase.comDecisions Inc.Broker Streamline/QuickBooks <strong>Real</strong> <strong>Estate</strong> Co. Mgt.Systemswww.decisionsinc.netTop <strong>Real</strong>tors In Your AreaYour Search For An Experienced And & TrustedLocal <strong>Real</strong>tor Ends Here!www.AgentMachine.com◦ Great Video on Presentations◦ Fresh & Easy <strong>Real</strong> <strong>Estate</strong> Director Making Empty Threats◦ Holiday CRE Video◦ Since When Is Offering A Cooperating Broker Fee A Selling Point?◦ Introducing CNRPA, an Attempt to Distinguish CREOBA’s Business Model◦ Marketing 101◦ A Little Shameless Self-Promotion◦ Not a Chance in Hell◦ NNNEX should be Part of Your Online Plan◦ New “Green” McDonald’s Logo• Recent Comments
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<strong>Retail</strong> <strong>Chatr</strong> <strong>Commercial</strong> <strong>Real</strong> <strong>Estate</strong> <strong>Blog</strong> » <strong>Blog</strong> Archive » Fresh & Easy <strong>Real</strong> <strong>Estate</strong> Director Making ...http://www.retailchatr.com/2010/01/19/fresh-easy-real-estate-director-making-empty-threats/comment-page...Page 10 of 101/27/2010<strong>Real</strong>time Buzz: <strong>Commercial</strong> <strong>Real</strong> <strong>Estate</strong>[<strong>Blog</strong>] TIP SHEET: Weak <strong>Commercial</strong> <strong>Real</strong> <strong>Estate</strong> Market Hides Deals - Wall Street Journal: TIP SHEET:Weak <strong>Commercial</strong> ... http://ping.fm/YPZgu8 hours ago by mlslistings from identica[<strong>Blog</strong>] TIP SHEET: Weak <strong>Commercial</strong> <strong>Real</strong> <strong>Estate</strong> Market Hides Deals - Wall Street Journal: TIP SHEET:Weak <strong>Commercial</strong> <strong>Real</strong> <strong>Estate</strong> Market Hides8 hours ago by mlslistings66 from identica<strong>Commercial</strong> <strong>Real</strong> <strong>Estate</strong> Rescue.: There are several types of people who can profit from thesetechniques, includi.. http://bit.ly/7NALGI10 hours ago by strmnr from identicaCongressional Oversight Panel's field hearing on <strong>Commercial</strong> <strong>Real</strong> <strong>Estate</strong> at Ga. Tech today.http://bit.ly/bgfzpvOlder Newer widget by socialmention•Powered by WordPress and plainscape theme.
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