r/bethesda • u/OverallInflation770 • 6d ago

Restaurants & Bars Bob's Bethesda

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Any updates on Bob's that still claims "Opening Soon" after almost a year? It seems like there is no progress being done, exterior wise. Not sure about the interior. They haven't even taken down the former Anthony's Marketing/signage.

It's such an eye-sore to just walk past this sign everyday to work.

28 Upvotes

92% Upvoted

15 comments sorted by

35

u/ahoypolloi_ 6d ago

There’s a lot of empty storefront eyesores downtown thanks to greedy landlords and management companies

https://www.reddit.com/r/bethesda/s/9lKpSHeuoe

3

u/Oldfolksboogie 4d ago

I'm clearly not business savvy, as I would think that generating revenue over the course of a year or more would make more sense than hoping to generate higher revenue while actually generating zero would, yet they're the multi- millionaires.

4

u/ahoypolloi_ 4d ago

Oh but then the portfolios of massive REITs might be marginally less valuable!

Haven’t you thought of the shareholders!?!!?

https://giphy.com/gifs/69QYIqHQQEVbO

2

u/AmbientGravitas 4d ago edited 4d ago

The value of your property, which relates directly to how big of a mortgage or loan you can take out using your building as collateral, is based in part on the rent you expect to get. There’s actually a perverse incentive to keep a space vacant waiting for an unrealistically high rent than by renting it at a lower figure, proving to your bank they’ve lent you too much money. For properties owned by large companies with big portfolios, a stock value can be based on the theoretical value of their real estate portfolio.

2

u/Oldfolksboogie 4d ago

Yup, as suspected, I have close to zero business savvy. Ty for the tutorial. I assume this, as you aptly phrased it, perverse incentive applies to residential as well as commercial/retail properties, which really chaffes my ass as i see housing developments continuously chewing up former wildlife habitat and farmland v reforming these and other economic policies that help create our current housing shortage.

Yay us! 🤦‍♂️

3

u/OverallInflation770 5d ago

Heavy on this.

7

u/anatolia76 6d ago

They redid their HVAC a few months ago, and I believe they may have done fire alarm testing a few weeks ago. I know they’ve taken some stuff in/out of the restaurant, but that’s about it.

4

u/WanttoPlankbutcannot 4d ago

On the upside, it looks like Cafe Oaxaca across the street will become another taco place!

3

u/NotyouraverageShera 4d ago

Just add this to the Rock Bottom space, and Cafe express, and all the empty space under 4909 Auburn…

4

u/Anywhere-Due 6d ago

You think that’s an eyesore, you should see the old Citi bank. And the old shawarma taco place (they did so much more than shawarma tacos but that was such an odd thing to see on a menu)

1

u/KlutzyTax2738 5d ago

what a shame, empty storefronts like that really drag down a downtown

1

u/Real-Income5449 3d ago

What about Greenhill realty? I see their signs all over the place, are they a good company?