Archived New Target forces out local Hillsborough Street businesses

[buliSBI]

New Target forces out local Hillsborough Street businesses
Posted 57 minutes ago
Updated 55 minutes ago

Raleigh, N.C. — As Hillsborough Street changes to suit today's college student, with Target opening next year across from North Carolina State University, many local businesses have to find new homes.

All the businesses on the strip between Horne Street and Pogue Street have to relocate, and soon.

At Reverie Coffee Den on Hillsborough Street, loyal customers are upset by the sudden change.

“I've been coming here at least 10 years I would say,” customer Michael Shearer said. “I’m not opposed to having a small Target that would be really convenient but its sad for these businesses.’

“We must date back 15 years,” customer Ernie Stitzinger said. “We meet people every day there’s somebody comes along we know, chat with them a little bit.”

The owner of Reverie is among four business owners notified Oct. 31st that their monthly leases won't be renewed after November.

“Just all pretty upset about it, nobody knows where they're going to go,” Tony McDowell said.

McDowell works at University Cuts. He said the reason they're being pushed out is to make room for higher-paying tenants that will fill the bottom level of a new Target store.

“We're real important to this community. We cut a whole lot of people over there, the football team, walk-ins, a lot of regulars, a lot of regulars,” McDowell said.

"We understand why some of the tenants are upset about moving. We hope to work with each of them through this transition to help find a satisfactory solution," the new developer said in a statement.

Owner Joseph Scurto said he has enough money saved to go out of business without going broke.

But, he said he worries about his employees, his customers and his neighbors.

“You know I think it’s unfair because these big guys come in and throw the little guys around like nothing and I don't think it’s fair,” Scurto said.

The new development firm says it plans to repurpose the current building and fill it with retailers on the street level. Those tenants have not yet been confirmed.


Read more at New Target forces out local Hillsborough Street businesses :: WRAL.com

 

[HRZone]

These places typically get a nice healthy buyout to make the move worth their time

 

[DoWork]

The joys of capitalism

 

[signingminion]

Month to month business lease and they didn't see this coming sooner or later?

 

[BackroomAlpha]

@DoWork exactly. @HRZone exactly. Im sure they saw a large takeout. Thats whats great about our country and thats whats harsh about it. Business and life.

 

[smashandthrash]

Yep.

 

[redeye58]

In my area there aren't any buyouts; the rents skyrocket so the local little business who was the bread & butter for the owner during the lean years is pushed out.
We've even had a case where the business had a lease but the owner bulldozed the building without letting them get their inventory.

 

[greg yarms]

This article does not mention a buyout at all. If you guys took the time to read it, people are upset about losing their business.....Its sad that so many people on this page are so blindly loyal to target.

 

[SFSFun]

This article does not mention a buyout at all. If you guys took the time to read it, people are upset about losing their business.....Its sad that so many people on this page are so blindly loyal to target.

I'm not blindly loyal to Target... Walmart does this all the time. I just support capitalism and the free market.

Those businesses had month-to-month leases. The property owner obviously got a much better offer from Target, and opted to do what made the most sense for himself.

 

[signingminion]

This article does not mention a buyout at all. If you guys took the time to read it, people are upset about losing their business.....Its sad that so many people on this page are so blindly loyal to target.

Yeah no.

Anyone who had ever had a month- to-month anything has likely had it stopped randomly. Apartment, business, whatever. It's the bare minimum to make it look like you give the renter protecting while actually covering your ass while you screw them over. It's not a long term business model if you want to stay put for years. A multi- year lease is.