Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next
Author: StuyvesantGrad70 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 87  
Subject: Re: real estate holdings Date: 12/1/2006 2:17 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 1
BJs owns less than a third of their clubs, the rest are leased. The annual report states that as of January 2006, 106 warehouse clubs are leased, 48 are owned, 11 are owned but subject to long term ground leases. The leases run from 4 to 25 years. Most of the leases have an initial term of 20 years and require escalating payments over the term of the lease. They account for land and leaseholds at cost on the balance sheet. So the older owned stores have appreciated from the initial cost. They operated 69 clubs before 1995. The annual report doesn't indicate how many of those 69 clubs are owned. You can't tell from the annual report if the leases are at below market rates. You would have to call BJ's investor relations to try to find out more, the information is not in the annual report.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next

Announcements

Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Value Hounds

Considerable Headwinds for Profire Energy?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement