Local businesses that serve
Original post made by Tim Hunt on Dec 13, 2012
With the newly opened Paragon Outlets on the western edge of Livermore providing an attractive shopping alternative to its Stoneridge Mall, the company bought the fully leased outlet center from Paragon last week. Traffic on opening weekend at the mall created near gridlock on Interstate 580 as well as other roads as 350,000 shoppers flooded the center.
The Simon firm immediately renamed it with its "Premium Outlets" brand, giving it an impressive series of properties in Northern CaliforniaGilroy, Vacaville, Napa, Petaluma and Folsom. The Livermore Valley site boasts the most outlet stores from upscale retailersan enviable lineup that undoubtedly attracted the attention of Simon executives concerned about maintaining market share.
With the acquisition, Simon will maintain its dominant position among Livermore Valley shopping centers.
It's nothing new for Simon, which is the largest owner of retail space in the world241 million square feet in 332 centers in North America and Asia.
There are some companies that you appreciate. I have been a long-time customer of Atom Appliance in Livermore and have been consistently impressed with their service and expertise.
My Maytag washer finally is dying after about 20 years. When the home warranty company offered a replacement instead of a repair that was way too expensive, I went to the Maytag web site to find out the specs on my current model. I couldn't find out the capacity of the tubwhether on the web site or when I called a representative.
So I called my friends at Atom. I gave the gentlemen the model number and he immediately told me the capacity of the 20-year-old machine. That's expertise combined with quality customer service.
I had the same experience at Valley Plumbing in Pleasanton, walking in with a cell-phone picture of my shower handle that wasn't functioning well (mixing hot and cold was too much of a challenge). The gentleman thought it was a Price Pfister and pulled out a valve core to show me how to change it.
I did some preliminary dis-assembly and went back with another set of pictures. The fixture was quickly identified as a Moenthe replacement core provided along with a special tool that I can return if I don't need it. Add in the step-by-step hands-on demonstration of how to change it and I was ready to go.
The common factorlocally owned small businesses with a commitment to customers and quality service.
on Dec 13, 2012 at 4:39 pm
Casanova_Frankenstein is a registered user.
Golly, that story sure is a corker! I especially loved the part about the valve core. Now that's journalism!
(seriously, PW, are we going to get stories about this guy's bowel movements next?)
on Dec 13, 2012 at 10:55 pm
franco is a registered user.
The author appears to be making an assumption that the purchase was quick. The only fact known, however, is the close of the sale was recent, and not long after the outlet opened and hordes of customers subsequently jammed the newly opened stores. A better assumption would be that a sale was agreed to some time long before the outlet opened, the seller and buyer agreeing to a purchase price contingent upon the leasing results and the initial customer traffic, all of which creates the value.
Without question the seller must have gotten a high price.