Best Bye Bye

More talk about Best Buy today:

1. RetailTraffic Blog's Elaine Misonzhnik examines how unlikely a buy out is. You should click through - we're big fans of her over here.
2. The WSJ article is patently absurd and suggests that it will be problematic hiring a CEO because the majority stockholder and founder remains as Chairman and keeps a tightened grip on the company. That is exactly what we need to change with CEOs (and Presidents) in this country, ones that do what the majority owners want them to do and they need to be able to share power with other executives. If I wasn't stealing access to the WSJ, I'd probably cancel my subscription over such hogwash. However, given my grey market access, I shall not complain too loudly and will likely continue reading it if is so that I may act defiantly stunned at their frequent misconception of the issues!

Best Buy Closure List

Following their initial announcement on 3/30, Best Buy posted a closure list, and surprisingly I only found 1 of the outstanding loans in CMBS deals. I may be off, because I am not attempting to do a thorough and complete job here, but I did for all loans named Best Buy that had matches on the city name from the list provided by Best Buy - then I further filtered the list by visually checking the street names. I'm sure some analyst who is actually getting paid to do research like this will post an update some day this week, but in the meantime please check out my advertisers!

Best Buy's official list here.

The Matteson store highlighted below is in BSCMS 2002-TOP6 as Best Buy Portfolio - Matteson IL (II) and actually paid of 6 months ago (but I listed it here just so we can all ponder on the horrible timing of that decision), and the West Dundee store listed below is in MLCFC 2006-3 as Best Buy West Dundee.

Store Name	Address	City	State
Casa Grande	1004 N Promenade Pwy	Casa Grande	AZ
Lake Pleasant	10134 W Happy Valley Rd	Peoria	AZ
East Palo Alto	1751 E Bayshore Rd	East Palo Alto	CA
Westwood	10861 Weyburn Ave	Los Angeles	CA
Manteca	934 Perimeter Dr	Manteca	CA
Moreno Valley East	27220 Eucalyptus	Moreno Valley	CA
Ontario	4120 E 4th St	Ontario	CA
Pittsburg	4405 Century Blvd	Pittsburg	CA
Jamboree	2857 Park Ave	Tustin	CA
Arapahoe & Parker	15800 E Briarwood Cir	Aurora	CO
The Forum	9370 Dynasty Dr	Fort Myers	FL
Oldsmar	11655 W Hillsborough Ave	Tampa	FL
Fayetteville	128 Pavilion Pkwy	Fayetteville	GA
Loganville	4014 Atlanta Hwy	Loganville	GA
Addison	1038 N Rohlwing Rd	Addison	IL
87th & Dan Ryan	8900 S Lafayette Ave	Chicago	IL
Deerfield	200 S Waukegan Rd	Deerfield	IL
Matteson	4707 Lincoln Mall Dr	Matteson	IL
Mundelein	1100 N Rt 83	Mundelein	IL
West Dundee	979 W Main St	West Dundee	IL
Speedway	10500 Parallel Pkwy	Kansas City	KS
Back Bay	360 Newbury St	Boston	MA
Wareham	2421 Cranberry Hwy	Wareham	MA
Inner Harbor	600 E Pratt St	Baltimore	MD
Hunt Valley	118 Shawan Rd	Hunt Valley	MD
Biddeford	405 Mariner Way	Biddeford	ME
*Brooklyn Center	5925 Earle Brown Dr	Brooklyn Center	MN
*Edina	3200 Southdale Cir	Edina	MN
*Hutchinson	1350 Hwy 15 S	Hutchinson	MN
*Lakeville	18350 Orchard Trl	Lakeville	MN
Rochester South	4540 Maine Ave Se	Rochester	MN
*Rogers	20870 Rogers Dr	Rogers	MN
Ellisville	15678 Manchester Rd	Ellisville	MO
Monroe	3151 W Highway 74	Monroe	NC
Rocky Mount	1100 N Wesleyan Blvd	Rocky Mount	NC
Millard	12210 K Plz	Omaha	NE
East River Plaza	517 E 117th St	New York	NY
Steelyard Commons	3506 Steelyard Dr	Cleveland	OH
Salem Mall	5031 Salem Ave	Dayton	OH
Caguas	Las Americas Expry PR52 Zafiro	Caguas	PR
Middletown	890 W Main Rd	Middletown	RI
Hickory Hollow	5255 Hickory Hollow Pkwy	Antioch	TN
Techridge	12901 North I-35	Austin	TX
*Woodlake Parkway	6218 Woodglen	San Antonio	TX
Landmark Mall	5901 Stevenson Ave	Alexandria	VA
Cosner's Corner	9745 Jefferson Davis Hwy	Fredericksburg	VA
East Richmond	4410 S Laburnum Ave	Richmond	VA
Mill Plain	16611 Se Mill Plain Blvd	Vancouver	WA
* indicates stores notified March 29, 2012 of closure plans
Note: Two stores in Kansas City, MO (Metro North) and Scottsdale, AZ (Shea) permanently closed in February 2012.

Best Bye

Best Buy is planning on saying Good Bye to 50 of it's standard format stores and opening 100 smaller format stores in 2013. They did not release a list of the stores in their conference call materials, and indicated the list would come out much later.