Grand Rapids land deal not closed; strip club on table
Jim Harger
The Grand Rapids Press
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Grand Rapids, Michigan (US):
An unexpected confidentiality requirement was a key setback in completing the expected sale of his property to a "mystery developer," strip club owner Mark London said Thursday night. London said he refused to sign the agreement, which he said was presented minutes before the Thursday deadline to close the deal.
He said he also wouldn't agree to a 30-day extension. He called the confidentiality affidavit, which covered everything from the nature of the project to the identity of the purchaser to the purchase price, "an excuse not to close. "The buyer didn't come to the table, and they just threw out a shotgun blast of excuses at me," said London, explaining he had optioned his property to the unnamed developer for $100,000.
He said he will continue with plans to open "Showgirls Galleria" around May 1.
The announcement casts doubt on the future of a "mystery" project reputed to bring thousands of jobs and billions of dollars in investment to the city. Speculation about the project has dominated local water-cooler conversations for weeks.
Mar 25, 2006
Jim Harger
The Grand Rapids Press
_________________
Grand Rapids, Michigan (US):
An unexpected confidentiality requirement was a key setback in completing the expected sale of his property to a "mystery developer," strip club owner Mark London said Thursday night. London said he refused to sign the agreement, which he said was presented minutes before the Thursday deadline to close the deal.
He said he also wouldn't agree to a 30-day extension. He called the confidentiality affidavit, which covered everything from the nature of the project to the identity of the purchaser to the purchase price, "an excuse not to close. "The buyer didn't come to the table, and they just threw out a shotgun blast of excuses at me," said London, explaining he had optioned his property to the unnamed developer for $100,000.
He said he will continue with plans to open "Showgirls Galleria" around May 1.
The announcement casts doubt on the future of a "mystery" project reputed to bring thousands of jobs and billions of dollars in investment to the city. Speculation about the project has dominated local water-cooler conversations for weeks.
Mar 25, 2006
