a thoughtful web.
Good ideas and conversation. No ads, no tracking.   Login or Take a Tour!
comment
kleinbl00  ·  2475 days ago  ·  link  ·    ·  parent  ·  post: Amazon Says It Will Buy Whole Foods In $13.7 Billion Deal : The Two-Way : NPR

The link to their real estate page says "become our landlord."

Their Spring 2016 quarterly report lists no real estate assets. But it's not like they don't discuss real estate:

    Growth and Development

    In the second quarter, the Company opened eight new stores, expanding into two new markets. In the third quarter, the Company has opened five new stores and expects to open seven additional stores, including the first 365 by Whole Foods Marketâ„¢ store in Silver Lake, CA on May 25. In the fourth quarter, the Company expects to open five additional stores, including two 365 stores in Lake Oswego, OR and Bellevue, WA.

    The Company recently signed nine new leases for six Whole Foods Market stores and three 365 stores. In addition, the Company has renegotiated three leases in development, converting them from Whole Foods Market stores to 365 stores. The three lease conversions average 29,000 square feet and are located in Bloomington, IN; Akron, OH; and Toledo, OH. The Whole Foods Market leases average 49,000 square feet and are located in Santa Monica, CA; Miami, FL; Vernon Hills, IL; Jersey City, NJ; Commack, NY; and Nashville, TN. The new 365 leases average 30,000 square feet and are located in Long Beach, CA; North Hollywood, CA; and Decatur, GA.

Their real estate is a liability, not an asset. It's not like McDonald's. Whole Foods is a tenant operation, near as I can tell.

And if I were a commercial landlord, and my tenant just switched from "Whole Foods" to "Jeff Fucking Bezos" I'd be shitting my pants. This is going to get ugly.