CVS buys Tally's corner??

[DowntownDan]

Someone needs to make some "Coming Soon:  CVS" and "Future home of CVS" type signs and place them on that corner.

I posted this rumor on http://reddit.com/r/tulsa .   Consensus: Tally's sucks. without any regard that a CVS is far worse for that corner than a restaurant with poor heath inspections.

Reddit is clearly infiltrated with communists.  Tally's breakfast is awesome!

[rebound]

Reddit is clearly infiltrated with communists.  Tally's breakfast is awesome!

Agreed!  Love Tally's breakfast!

[heironymouspasparagus]

Reddit is clearly infiltrated with communists.  Tally's breakfast is awesome!

Flirting with the possibility of imminent Listeria infestation is always an exciting 'rush'....

But you are right - Talley's is good stuff!!

[sgrizzle]

Update is that David Sharp bought the property. Tally's reportedly had a verbal right of refusal.

[AngieB]

The church really did him dirty.
http://m.krmg.com/news/news/local/tallys-good-food-cafe-not-closing-despite-rumors/nnCKf/

[Tulsasaurus Rex]

So what does this mean? No CVS?

[saintnicster]

So what does this mean? No CVS?

for now

[DowntownDan]

for now

Yep.  If CVS or Walgreens wants that corner, there is no way Tally's can match the offer.  Those companies can outbid anyone and their projected profits would likely blow Tally's out of the water.  Profits over people.  If they want it, they'll get it.

[AngieB]

The church responds: http://www.krmg.com/news/news/local/church-responds-tallys-owners-accusations/nnCxZ/?nmredir=true

Hmmm...

[cannon_fodder]

Good response from the church. Taking cash from "group A" or floating a five year note from Tally is a risk based decision. The members of the church decided and went with it.

If that's the truth, not sure where Tally was wronged. Disappointed, yes. But wronged?

He may have burned the bridge to lots of his Sunday morning crowd.

[Conan71]

Good response from the church. Taking cash from "group A" or floating a five year note from Tally is a risk based decision. The members of the church decided and went with it.

If that's the truth, not sure where Tally was wronged. Disappointed, yes. But wronged?

He may have burned the bridge to lots of his Sunday morning crowd.

I don't get where the risk was to the church unless they owed money on the property or were in a cash crunch and needed the funds now, not spread over five years.  If he defaulted, it's a high traffic intersection, they wouldn't have to sit on he property for long or worry about a deficiency balance if they foreclosed. 

By all appearances, this seems to be a lucrative business which has been around for nearly 30 years.  They live in a $1.2 million house a few blocks from Cascia Hall.  Somehow they managed to obtain a mortgage for that.

I ran the numbers and at 6%, that would have been roughly a $20,000 per month payment.  I can't imagine they are charging him that much in rent.

There again maybe one of the church members ran an OSCN on Tally and his wife and figured they weren't the sort of people to engage in a major contract with them.  The Alames seem to spend more time in civil court than Michael Sager.

http://www.oscn.net/dockets/Results.aspx?db=tulsa&number=&lname=alame&fname=&mname=&ident=&DoBMin=&DoBMax=&partytype=&apct=&dcct=&FiledDateL=&FiledDateH=&ClosedDateL=&ClosedDateH=&iLCType=&iYear=&iNumber=&citation=

[cannon_fodder]

The church can have $2mil (or whatever) in pocket now, or wait until 5 years to collect payments. 2mil cash is inherently less risky. Payments can be a serious pain, expense, and time suck if they go bad. Some banks apparently looked at it and said "nope, not worth it" and walked away. Why would a church take the risk a bank wouldn't?

My point is the church considered options and made a choice. Tally wasn't rebuffed for an arbitrary reason.

[TheArtist]

Wish there were pedestrian/transit zoning in place.  That way at least whatever was built there would be up to the sidewalk again and would help out, rather than hurt, any new transit in the area. 

[davideinstein]

Wish there were pedestrian/transit zoning in place.  That way at least whatever was built there would be up to the sidewalk again and would help out, rather than hurt, any new transit in the area. 

That's honestly my only concern. If there is a CVS built with the same design then I don't really care.