R Vs. R
FYI - I am a general contractor,in both Residential and Commercial Construction, and I can tell you affirmatively that there is "No Way" for a retail store location to be able to recognize revenues by the EO 2nd QTR, and here is why:
It will take at least 30 - 45 Days to produce a reasonable lease agreement that satisfies both parties, including CAM Expenses, Monthly Lease Amount, Landlord Build-Out Cash, etc. At that point, they take possession of the space, it is at least another 2 - 3 weeks to draft out the design for the space (which hopefully they did during the lease negotiations) and 2 - 3 weeks for city plan review for the space build-out Permits.
At this point, construction can begin, and the minimum time for a turn-key operation is 30 days without delays or unknowns, so hopefully the space is in a new building with a vanilla shell, which has been untouched by any contractors hands; remodels can be a pain you can imagine. So, that being said, PRPM has not officially signed any deals that we are aware of, they have not selected a space in a particular area where they believe the market will best serve them (market analysis report), they have not begun such negotiations to lease from a commerical property manager; which means conservatively if they started on Monday, Feb. 17th it would take at least 4 months to be completed putting them at a June 17th Open. I know he said first store to be opened by April, but realistically that is just not feasible.
I hope they prove me wrong, I really want them to open up dozens of stores all at once and make me a complete liar.
GLTY!
Miller
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