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Feb 4, 2009 01:03 PM

Is H-Mart in Burlington Dead?

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  1. That looks like H-Mart backed out because of the bad economy. Sad. I'd love to see H-Mart or Mitsuwa here in MA.

    1. This has come up before, if you search you will find the previous chowhound discussion. This ad is showing the building is for sale but it has a 15 yr lease client (NNN is called: Triple net, which is Rent, Taxes, Insurance/Maintenance). That client is H Mart, so the building owner is selling with a leased tenant in tact. The lease commenced on Jan 15 and expires on Jan 1, 2024. So basically, if you $12,750,000 you can be H-mart's landlord.

      1 Reply
      1. re: trishaluna

        If the lease has no outs and if the lease isn't with a shell company or isn't guaranteed, then the tenant is eventually out a bunch of cash. Doesn't mean they'll open. The sales info is hilariously misleading, which means I wouldn't trust the lease is solid. Triple Nets are often sold to investor groups sight unseen, as in "It's a Walgreens Triple Net," meaning it's like a bond. This sales info speaks of a renovated store that's open, etc. so at best it would be fishing for interest in the market ... and then disclose, "Well, there are a few issues."

      2. I drove by today late in the afternoon while in the area. Nothing going on that I could see.

        1. Drove by yesterday and there were trucks (roofing and concret) and workers all over the place.

          1 Reply
          1. I drove by there 3 hours ago and there was work activity happening.....if not H-Mart, something is happening.

            2 Replies
            1. re: sinned61

              Finally! The kamman center is so crazy on the weekends now. Literally NO parking b/c there are too many people there. Boston needs another large asian market pronto.

              1. re: noodlely

                I thought I had just gone on a busy day (right before Chinese New Year) but YIKES that place is nuts. Who knew they had all that back lot parking?

                Good to see, though. They still stock everything and have not gone the way of 88.

                I would LOVE to have HMart come in though.