The I Love CVille Show With Jerry Miller! - Thousands Protest Trump At RT29 & Stonefield; Reid Grocery Building Sells For $5,500,000

Episode Date: April 7, 2025

The I Love CVille Show headlines: Thousands Protest Trump At RT29 & Stonefield Reid Grocery Building Sells For $5,500,000 Reid Grocery Building Assessed At $3.33M In 2025 Downtown Kilwins Building Sells For $1,110,000 How Will Global Market Volatility Impact CVille Area? WaWa Opens New Location On 5th Street Extended Fired UVA BOV Bert Ellis On I Love CVille (4/9) What Questions Should We Ask Ellis On Wednesday? Read Viewer & Listener Comments Live On Air The I Love CVille Show airs live Monday – Friday from 12:30 pm – 1:30 pm on The I Love CVille Network. Watch and listen to The I Love CVille Show on Facebook, Instagram, Twitter, LinkedIn, iTunes, Apple Podcast, YouTube, Spotify, Fountain, Amazon Music, Audible, Rumble and iLoveCVille.com.

Good Monday afternoon, guys. I'm Jerry Miller. Thank you kindly for joining us on the I Love Seville Show. It's great to be with you guys on the first day of the week, a soggy Monday in downtown Charlottesville. And boy, do we have a lot to cover on the program today. So much so that there's items that did not make the rundown of headlines that you see on screen. I still want to highlight those numbers and get them out of my notebook to you, the viewer and listener. Look, all of us right now that have any kind of retirement associated with the stock market are uncertain at best, petrified and scared and shaken most likely. It's normal. And, you know, everybody's got an opinion on where things are going to go.

The volatility is going to continue. If it's a buying opportunity, if we're at the bottom, if we're heading to a global recession, things are going to get ugly. I don't think anyone really has those answers, folks. You turn on CNBC, you read Wall Street Journal, listen to Bloomberg, everyone's got a take. What we do know is these tariffs that Donald Trump is rolling out. A lot of people are, a lot of countries, a lot of investors

just don't like them. And the sell-off of the last handful of days has been pretty significant. And I empathize for the viewers and listeners who are older in age that rely on their 401Ks and their IRAs and their stocks and equities and their portfolios to fund their lives. And, you know, I think we're in store for a lot of uncertainty moving forward. And no one likes uncertainty. My kids don't like uncertainty on the weekends

when they don't know if they can play outside or have ice cream or ride their scooters or enjoy what they like to do. Your money and your retirement certainly does not like uncertainty. And what I'm going to try to do on today's program is try to localize what's happening on the national media. How's it gonna impact Charlottesville? I've been in Charlottesville and in central Virginia for 25 years now.

Jude, if you wanna rotate some shots, maybe some studio cameras, I don't know if you can do some picture in picture with me on the studio camera, just for a little bit of dynamic one shot monologue. I trust your creativity, sir, I'm really grateful for you. I've been in central Virginia for 25 years and really right now I've seen in those 25 years that I've been here, 25 years this August, I've seen as much challenge and headwind,

as many headwinds as I've seen in 25 years. I mean, give me a moment to kind of just break this down for the Charlottesville area. Right now we're having, you know, stock markets, stock market hemorrhaging to the point of levels that are worse than what we saw at the onset of COVID. The last three days have been so bad, the last three days that they're of historic significance bad. That's one obvious headwind. I don't care where you live, whether it's Greenwich, whether it's Vail, Colorado,

whether it's the Gold Coast, whether it's the toniest of places in Miami or South Florida, the stock market and your retirement determines your confidence, your willingness to spend and consume. And that certainly applies for Charlottesville. Are we insulated by a lot of national trends in Charlottesville? Yes.

Does it still impact? Most certainly it does. So it's an obvious headwind what's happening with Wall Street. Another headwind that's happening at the exact same time, and it's in a lot of ways directly tied to Trump, not a lot of ways, but is tied to Trump, is the University of Virginia is in the midst of some challenges. You're freezing right now the basic cost of living

wage increase for University of Virginia employees. A measly 3% year over year, an expected 3% raise for faculty. And that is now frozen. I want you to think about that. Your employer, a 3% raise not being bestowed upon you. That's not keeping up with inflation to begin with. And now that 3% is on ice.

On top of that, the University of Virginia is putting also on ice, also freezing, performance based bonuses. It's also freezing new hires, including hires that were already in the hopper. It's freezing discretionary spending tied to research or academic expansion. That type of spending, whether you're expanding your lab, you're bringing on a graduate assistant, you need more technology, more equipment.

I'll put it in perspective. We had a tenant that, you know, tenant got significantly behind on their rent. Talking significantly behind on their rent. And as a landlord or as someone that works with landlords, you never want to be in the position where you have to start repossessing equipment, whether you're locking doors

and saying you're so behind on the rent, we're gonna change the locks and have to bring you to court and we have to then repossess your laboratory, your biotechnology laboratory equipment because you're so behind on the rent. And then we go, I'm leading this charge and selling this equipment for pennies on the dollar in the secondary market, utilizing

our reach in social media and digital marketing to sell equipment that's valued over a couple hundred thousand dollars, $250,000, and selling it for 25, 40, 50 cents on the dollar to recoup some of the back rent. And university labs and faculty members that were chopping on the bit to buy this equipment from us at the start of the fourth quarter and into December of last year have now reached out to us and said, can't do it now. Can't, not allowed to spend the money. I understand you're selling it for 40, 50, 60, 70% off of what we could buy it for.

It's a fantastic deal. We can't spend the money. There's a second obvious headwind here and no cost of living raises, no performance-based bonuses and stopping consumer spending. How about a third headwind for Charlottesville and Central Virginia? Have you guys seen the retail and restaurant sector locally? Sectors that are tied to labor?

Sectors that are tied to consumer spending. Have you seen it? The sledding is not smooth right now. To say it's riddled and littered with moguls is an understatement. Been here 25 years and this is the most challenging environment I've seen perhaps since COVID, but I call the pandemic an anomaly. So I'm going to do my best to try to localize what's happening nationally here in a 10.2 square mile city and a region we call central Virginia that's roughly 300,000 people strong.

Right now the real estate is still holding a hold. Values are still increasing. Median sales prices are still increasing. Median family household income 125,800. The AMI was just released last week. We covered it on the show. I want to try to characterize the fragility of what's happening on Preston Avenue and on Main Street and on Market Street and on Route 29 and on 5th Street, extended on today's show. I want to highlight the fact that Reeds Grocery sold for $5.5 million, $5,500,000. And you know what? Props to the family behind Reeds to get out at this point, especially with the headwinds I just described coming. $5,500,000 for the Reeds building when in 2025 it was assessed at $3,330,000. Twice as nice must have really wanted that building, Judah.

The nonprofit. And how about a nonprofit that's got $5,500,000 to dish out? Obviously there's probably some loan on that purchase. We'll talk the Kill Winds building. I know this one intimately. Looked at the Kill Winds building for my personal portfolio. I wanna talk the thousands that protested

on Route 29 in Stonefield over the weekend. Good night, what a turnout, Judah. What a turnout. Don Lemon was in attendance at the protest over the weekend. Yes, that Don Lemon, the talking head. We'll talk of Bert Ellis. He's on the I Love Seaville show on Wednesday, the fired Board of Visitors member. He's confirmed, he's locked and loaded. He's going to join us on the show. What questions do you have for Mr. Ellis? I'll gladly relay them to him live on air.

Judah, if you can go to the studio camera, we'll weave you in with a two shot, and I wanna thank Charlottesville Sanitary Supply for being a part of the show, and I encourage you, the viewer and listener, now more than ever to support the small businesses you wanna see survive. Charlottesville Sanitary Supply on East High Street,

online at CharlottesvilleSanitarySupply.com. John and Andrew Vermillion are doing business the honest way, the right way, the communicative way, the customer service way. And if we want Charlottesville and Central Virginia to remain the Charlottesville and Central Virginia we love, with brands, with institutional history and legacy, we need to realize that we're going

to have to support these businesses, either in person or directly through their websites, as opposed to shopping online at Walmart and Amazon, where you can save a couple of bucks. Because the value proposition of a Charlottesville sanitary supply, the value proposition of a pro-Renata and Dr. John Shade is considerably more for a community than what Amazon is going to do or what Walmart is going to do for our community. And if you want this community and our community to continue losing its charm, its personality,

and it's eroding quickly, look no further than First Night Virginia being no more. Look no further than the Dogwood Parade being no more. We broke both stories that the Dogwood Parade is no more and First Night Virginia is no more right here on the I Love Seaville show. And then legacy media, old media followed us with the reporting. No more 4th of July fireworks. You guys want the 4th of July fireworks, the Dogwood Parade, First Night Virginia, you want these community events to return, then we need to support businesses in this community that are willing to sponsor and underwrite these events.

Because it's not Amazon and Walmart and Target that are sponsoring and underwriting the Dogwood Parade or First Night Virginia. It's when volunteers go to locally owned businesses and say, we need your help returning the Dogwood Parade to Charlottesville or First Night Virginia to Charlottesville and the fireworks in Charlottesville. Who do the organizers go to? They go down Main Street, Market Street, Preston Avenue, Hat Hen Han and say what can you do to help? We'll put your branding position on

the event. Help us bring this back to our community. That's the value of supporting local, one of the many values. A lot I wanna cover on the show, Judah. And viewers and listeners, I ask for a small favor from you. Will you like and share the show? Just like John Blair has done, like Bill McChesney has done.

Thank you, William. We're grateful for you. Tag someone in the comments. Ginny Hu, thank you, we're grateful for you. Tag someone in the comments. Ginny Who, thank you. We're grateful for you. We got a lot to cover. We had, God, did you see the drone footage of the protest on Route 29 in Stonefield?

Yeah, they did a good job. A significant turnout. No doubt. The organizers of the hands-off Trump protest on Stonefield and Route 29, you guys did a damn good job. I was impressed with how many people showed up. It's not about politics, it's not about who we voted for. Your turnout of people was impactful. Those who supported the opposite cause led by Philip Andrew Hamilton, your turnout peanuts compared to the other side of the aisle.

I want to talk about that on today's show. I want to talk on today's show, the Reeds building selling for $5,500,000. Good night, goodness gracious. Way above the 2025 assessment. I'm going to talk to the Kill Winds building selling. Charlie Kavash, good job selling your building and the apartments above it. I looked at it. I want to have that conversation on today's show. I want to talk about how this volatility globally and nationally is going to impact Charlottesville. Starting to get concerned it's going to impact Charlottesville a

little bit. What intrigues you the most about what we're going to cover today my friend? Judah Wickhauer. I think it's amazing that the Reeds building sold for almost 2.2 million over The Reeds building sold for almost $2.2 million over the asking price. Over the assessment. The assessment. That's pretty incredible. We all know that Charlottesville property is at a premium right now because there's not a whole lot of growing going on, but they really wanted that property. Or maybe they were just being generous to the family.

I don't think they were being generous to the family, the nonprofit. Neither do I. But I want to applaud the sisters for getting $5.5 million for the Reeds building. Why don't we put the lower thirds on screen. I million for the Reeds building. Won't we put the lower thirds on screen? I know we're jumping ahead here. We will get to the thousands protesting outside Route 29 in Stonefield. Deep throat.

I'm going to get to your comments here in a matter of moments which I think are spot on. The family behind Reeds, an institutional business locally, the best butcher shop some would say in the market. A lot of people would say that. The best meat selection, a lot of people would say in the market. Their time had passed with owning and managing and running a grocery store. A GoFundMe was launched and the GoFundMe did not seem

to get the business back on track. They did everything they possibly could. They did digital panhandling, called digital fundraising, called digital panhandling, whatever you wanna call it. They had to lay people off. They did a public relations campaign where they begged the community for support. The reality is, and by now it's well documented here on the I Love Seville show, the grocery business has changed dramatically. And if

we continue to prioritize online ordering, and my family falls victim to this, online ordering, Instacart ordering, or prioritizing big box stores, we're gonna see more of the little guys go by the wayside. And this particular little guy said, you know what, we're gonna close the doors. We've lost a lot of money trying to keep this brand, this family business afloat.

We understand the value of the real estate and we're gonna sell, and 5.5 million is a payday and they were able to do it in a way where they preserve the integrity or the structure of the building where all of us can say I remember when that was a grocery store. I remember when they had the best one of the best craft beer selections in the market. I remember when we got our pork chops there, our strips there. I remember when we got pig's ears there. I remember this experience of shopping there. And that has value.

Those memories have value. And the sisters who made the sale understand the value of memories. Because that could have sold to a developer who would have torn down the building and built something in its stead, in its place. Stead. I'm very, very happy for them to get this kind of payday. Okay. And now we have some kind of clarity of what was paid.

Do we think twice as nice overpaid? Market, only the market knows that. Only the market knows that. Only the offers the sisters had in front of them would know. They're the ones that would know if they overpaid or not. 2,200,000 above assessment, it's pretty significant. Keeping the business as a retail, a thrift retail kind of concept,

or evolving the business into a retail thrift concept, good for you guys. That seems like a challenging model to run. The thing you have going for you is that stuff is donated. So you're not necessarily paying for the widgets you're selling. The items that the mindset that the consumer mindset that you have going against you is the dominance of online shopping. And it's not just shopping through e-commerce stores anymore. If you're following now, social media is now a live streaming shopping experience where

influencers are utilizing their massive followings in live streaming shopping where people can buy what they're shopping or selling in real time. A lot of people say that's the future of shopping now. Where you're following influencers, people of clout, and they go live on Facebook or Instagram or TikTok or YouTube and they have a closet in front of them or they have a bunch of Pokemon cards or a bunch of Pokemon cards or a bunch of baseball cards or a bunch of footballs or basketballs or squash rackets, a bunch of shoes, a bunch

of jackets, and they say we're going to live stream until what we have in front of us is sold and we'll pack it up and we'll send it to you once the stream is over. Are you familiar with the app? I'm now getting into this. The app called Whatnot. Whatnot is the app. And it's an app that's gaining significant traction and seems to be eating TikTok's lunch in this regard.

And it's a live auction app that allows folks of influence to live stream and auction whatever they're selling to the highest bidder in real time. And because you get caught up in the excitement and the movement of the real, of the, of the livestream and of the auction, it's like, I got a dollar here, I got a dollar here, I got a $2 here, I got this pair of Nikes for $10 here, $20 here, $30. You get caught up in the movement. The price you're selling for insane numbers. And all you have to do is click a button during the live stream and it's tied to your Apple

wallet or your PayPal or your bank account and the money is drawn. Wow. I guess not everybody's hurting from money. Well that's the thing. The digital influencer and this is why the young millennial or the Gen Z-er is so eager to, if you ask them today, if you ask a young millennial and the Gen Z-er, what do you want to be when you grow up? The over, the more than the majority, the large portion says, I want to be an influencer. And if you think about it, you sit in a couch, you sit in a chair

behind a camera, you travel wherever you want to go, and you make money. But take it from somebody who's live streaming and using social media and digital marketing and iPhones and technology and applications and apps to make money. It is not easy to make money this way. It's taken us a long way to figure this out. Five and a half million dollars for the grocery building on Preston Avenue and it was assessed in 2025 for three million three hundred and thirty thousand. Congratulations to the family on this payday. No doubt. Congratulations. I want to get to this comment and this could lead us into how will the global market volatility impact the Charlottesville area if you put

that lower third on screen. This is from number one in the family, Deep Throat. Charlottesville is definitely getting hit in the sensitive spots. He says these are the big themes he sees. Cuts to government funding with the university, UVA is our main engine of growth and dings to financial assets. Huge concentration of wealthy retirees here. He also says, by the way, if it is really the case that there is a great shortage of multifamily housing in town, how come the buyer of a prime piece of land zoned for density sold to a secondhand shop? He's talking about the Reeds building. I sincerely would like to know this answer with the multi-family Reeds sale, with the sale of Reeds. Did the family that sold Reeds choose twice

as nice as their buyer because twice as nice was committed to keeping the building what the shape of Reeds, the structure of Reeds. Did the family that owned Reeds pass on other offers, even potentially better offers from developers who could have built apartments in its place? I would like to know that answer. Will I know that answer? I don't know. I want to know that, though.

Because the upside, I'll take it a step further here. And this is a comment that is not meant to be insensitive. It's just a crystal ball predictive type of comment. In the long run, I don't see twice as nice who is spending 5 million, who has spent 5,500,000 on this. They've already said on record they're getting a loan for this purchase. Of course they are. I don't see twice as nice being here long term.

Long term is relative, of course. It's relative. I see this building long term being a apartment complex, multifamily housing of some kind. And eventually twice as nice is going to be in the same predicament Reeds is. And that predicament is going to be the asset we own, the dirt under our business is more valuable than what we can do on this dirt running our business. I want to say that again. There's many businesses in Charlottesville that fall in this category and I hate to say this, it's effing soul crushing

for me to say this. Even effing soul crushing for me to say this is somebody who makes his living in real estate, it's still soul crushing for me to say this, okay? There are so many businesses in the Charlottesville area where the dirt under their business is more valuable than the actual business they are running today. And that is just a kick in the nuts to an entrepreneur and someone who loves Charlottesville. And I adore this to be twice as nice as ‑‑ legacy?

Future. Where eventually they're going to say, good God, we bought this for $5.5 million, we're paying this much a month in debt service. We're paying this much in debt service. We could just sell this to this developer and pay off everything that we owe. Then cash reserve our nonprofit and then go to this location over here because frankly we are a destination nonprofit selling thrift stores and secondary items that are donated to us. We don't need to be in a class A quarter, a primo quarter. This is a destination. People are going to come to us because they want discounted stuff. Right? If you're a thrift store and you have quality goods, people will drive to you. You don't need to be on Preston Avenue. He adds this comment and then I'll open it

up to the viewers and listeners. Twice as nice as a nonprofit, does this mean that the property comes off the tax rolls? Not sure of the rules here, all nonprofits exempt or just education. That's a great question for John Blair if you're still watching, John. Deep Throat, number one in the family asked this question, and John would know this. Twice as nice as a nonprofit, does this mean that the property comes off the tax rolls? Not sure of the rules here. All the nonprofits exempt or just education? Is it just UVA that's exempt there, John, on the taxes?

Mr. Blair would know that answer. I don't have that answer for you. It's a great question. Kevin Yancey says, there are no locals left in the grocery business. Respectfully, I push back on that. There are locals still left in the grocery business. Was it Raphael next door

that owns the Market Street Market grocery store? He also owns the Crozet IGA. He's a local in the grocery business. Okay, Ted Anderson is doing his damn best. Anderson Seafood and Catering, one time had a fantastic little grocery type business across from Barricks Road Shopping Center and the Meadowbrook Shopping Center.

Now he's posted up on Ivy Road a handful of days a week. Support Ted Anderson on Ivy Road. The guy's got fantastic seafood. Great seafood. Great seafood. Great family. Still locals in the grocery business. But they're, I mean, explain to me, and I'm getting passionate today on the show, explain to me a local business

right now that you are super, a local category of business that you are super bullish on right now. An entire category? A line of business, a silo of business, a category of business locally that you're super bullish right now. I'm going to give that some thought. Give it some thought. Viewers and listeners, give me that answer.

And Yancey says that building was built in the 80s. He said twice as nice, get ready for what's to come for a building built, a local category. Like you're bullish on right now. Seriously. Weed? Judas says weed. I mean, I'm not throwing shade on weed. I don't know if I can think of an entire...

Yonkin still hasn't green lit it. No. No, granted, you can pretty much sell weed and no one's going to give you... They're probably doing better because he hasn't. I mean, I don't know how much, I don't know how much, how above board they are, but I would imagine that once things go fully legal, there's going to be more in the way of taxes and what gets, what ends up back with the city, region and state? John Blair has a comment. He says, asked to the nonprofit question from Deep Throat,

I do not believe it would come off the tax rules. There are some specific real estate exemptions in the Code of Virginia, but Twice as Nice would not qualify for one of those exemptions. There's somebody that's number one in the family, Deep Throat, asking a question that I had no idea what the answer was. And then number two in the family, John Blair, answering it right there. As to the nonprofit question from Deep Throat, I do not believe that Twice is Nice and the Reeds building would come off the city tax rules. There are some specific real estate exemptions in the code of Virginia, but Twice is Nice would not qualify for one of those exemptions.

John Blair, you just made us smarter right there. He also says thank you for the kind words in the beginning of the show. And he says this, I want you should rotate the reads and kill wins lower thirds on screen with the global market volatility one if you could please sir, Judah. John Blair also says thank you for your kind words. If you looked at the read sale and isolation, you would say wow, but I'd really like to hear your analysis of how that building, which is not located on the downtown mall is drawing five times the price of the kill wins building. That real time comp is not located on the downtown mall, is drawing five times the price

of the Kill Winds building. That real-time comp is fascinating to me. That's why we included the comp in the rundown. I was going to get to this. John F-ing love you, okay? I sincerely mean that. We put the Reid's sale and the Kill Winds sale in the rundown for you to have a barometer of two prominent

pieces of real estate and what they sold for. I know the Killwinds building intimately. Walked it, toured it. I this is the tough aspect of the Killwinds building. And the Killwinds building, ladies and gentlemen, sold for $1,100,000. I think I talked with you about this. Did I talk with you about this, deep throat? The challenging aspect of the Kilwins building is the value of the building is tied to the Kilwins lease. And I'm not going to offer any details on the lease. I'm not going to offer any details on what the monthly rent is. I'm not going to offer any details on the lease. I'm not going to offer any details on what the monthly rent is. I'm not going to offer any details on what the apartments on the second floor are renting

for either. There's two of them, one facing the mall, one facing the back of the building. All I'm going to do, Cliff Fox, you listen to the show, you're representing Charlie K. Bash in this sale. We talked about this, Charlie and Cliff. I'm going to talk about this in terminology and language and ways that is all public record and without in any capacity breaching any kind of NDA. Okay? Everything I'm going to talk about is public record. There's two apartments above Kilwins. Public record. There's one apartments above Kilwinds, public record. There's one

apartment facing the downtown mall, public record. One apartment facing the back of the downtown, back of the downtown mall in a parking lot, public record. Kilwinds is at the storefront level and has been there for a long time, public record. Our firm, VMV Brands, which you see behind us, our advertising agency helped launch Killwins on the downtown mall when Killwins opened. Kip Pastormack, Jessica Pastormack, Denise, Jessica's mom, Kip's mother-in-law, they launched Killwins on the downtown mall. And coming out of the gate upon launch, they caught resistance. Remember, Judah? The resistance they caught was the chain or franchise, the chain nature, franchise nature

of Killwins, especially opening next to Splendoros Gelato, a couple doors down from Chaps. Right. And this was a time when the downtown mall before COVID where we pounded our chest and we said no chains on the mall. We pounded our chest and we threw shade at what was the name of the clothing store where silver chair was? Something out fitters. Urban out fitters? Is it urban out fitters? I think so. Everyone raised their hands in the air and gave the one‑finger salute to Urban Outfitters opening. And when Corrin opened Five Guys on the downtown mall, the Five Guys franchise on the downtown

mall, everyone gave the one‑finger salute to Five Guys. Five Guys still there? Five Guys is closed, right? That's where Vita Nova moved to. Thank you, Judah. Urban Outfitters still there? Nope. Unless you count the guy squatting in front of it.

Squatting in front of Urban ‑‑ that's the most organized houseless man I've ever met. Just about. He literally stacks and stores all his stuff in bins, neatly organizes it, has a dog that lives there with him. He lives at Urban Outfitters under Urban Outfitters. But my point is this. I've been here 25 years.

There's three chains, franchises, whatever you want to call it, that have opened. National brands on the downtown mall, eight blocks. Urban Outfitters tried, failed. Five guys tried, failed. Killwins still making it but has had significant headwins. It's traded ownership. I believe it's still in the Pastor Mac family. This is all public record. I'm not talking out of course. I know a boatload about this because I tried it. I was looking at buying it. I know a boatload about it but I'm speaking Cliff and Charlie completely within course here. This is also within course but it's a little bit more nuanced. The value of this building is tied to the

lease of the storefront. If the tenant is unable to run their business successfully and so far they've run their business very successfully. And if there's no tenant in place, the value of this building is not as great as if the tenant is paying their rent on time. That's me not speaking out of turn at all. That's just common real estate sense. A little bit more nuance, but it's common real estate sense. You buy an asset like a commercial building

and the building is tied to the leases in the ‑‑ the value of the building is tied to the leases that are in the building. If the building does not have tenants, it's not as valuable as if the building has tenants. That's real estate valuing, folks. It's valuing real estate. And I made this assessment as a buyer. This is going to trade over a million dollars. Do you, Jerry, with your wife and your money think that the long-term potential of this building with this lease is something that you want to risk a million bucks on.

And then I said, urban outfitters, five guys. And I said, I don't think I'm going to make this play because of it. But somebody did. And they paid $1,110,000 for it and the company has a registered agent based in Florida, a company called ETP Holdings LLC. Sean Tubbs, you do a good job breaking this down and your transactions and the transactions that you do. Now, to compare it and contrast it to the ReEDS purchase. Viewers and listeners, your thoughts on this.

Kilwins and ReEDS. ReEDS and viewers and listeners, sell for 5X of what Killwind sold for? I'll say it again. Why did ReEDS sell for 5X of what Kilwind sold for. This is the first thing I'm going to do to figure this answer out. I'm going to go to my web browser, Judah, and I'm going to type in Charlottesville GIS. Then I'm going to click the first link that shows up on screen.

Oh, it's the Charlottesville GIS viewer. That's really cool. And then I'm going to go see what Sean Tubbs reported on InfoSeaVille, interesting, the Kilwins building, its address is 313 East Main Street. This is all public record, anyone can do this. This is completely within course of hosting a podcast and absolutely no breach whatsoever of anything signed.

I'm gonna type in full address 313 East Main Street into the Charlottesville GIS, 313 East. Oh, there it is, 313 East Main Street. I'm gonna click search. Oh my gosh, ETP Holdings owns the Kilwins Building. Wow, this tells me the assessment history. This tells me the ownership history, what people paid. Gosh, Charlie K. Bash, I do a lot of business with his son Chris. Charlie K. Bash, he bought this building in 1990,

Judah, for $210,000. He sold it 35 years later for $1,110,000. Nice little return, right? $210,000 purchase in 1990, $1,110,000 sold in 2025. Now I go to the summary and it gives me the details. The details. And in the details you can see the building was built in 1920. And the gross area is 46,250 square feet. You got 23 ‑‑ you got 40 ‑‑ excuse me, 4,650 square feet, not 46,000, correction. 4,650 total square feet. 4,650 total square feet, storefront levels 2,325 square feet, second floor is 2,325 square feet. That's broken up over two apartments on the second floor, including one overlooking the mall. All right. So now I'm going to open another browser tab on my Mac book with the Chrome browser and I'm going to type in Charlesville GIS on my other browser

tab. I'm going to click the first link. I'm then going to see what the address of the ReEDS building, the ReEDS building address, let me see if I can find it. Sean is doing a great job, Tubbs, of organizing all these transactions. I'm scrolling through the transactions, I'm going to the bottom where the twice as nice purchasing reads, oh, the address is 600 Preston Avenue. I'm going to type into the full address portion of the Charlottesville GIS, 600 Preston Avenue. I'm going to click search. There it is right Ownership history? Details. Interestingly it looks like, and I'm not trying to throw shade here, it's got 3.33 million

is the 2025 assessment. Here it says on 600 Preston Avenue that it's 2,736,000 is the assessment. But I'm going to stay focused. The details, it's 13,208 square feet. So you're talking 46250 was the Kilwins square feet. 46, excuse me, 4650, 4650, I'm going to times that by 3, and you get 13,950. So it's roughly the reeds building three times the square foot. Three times the square foot of Kilwins. You also got about almost an acre,.8 we'll call it for reads, the footprint..8. Kilwins, I mean, you're on a post stamp. So are they identical comps? No. Are they visible comps?

Yes. Are they in the ‑‑ are they third cousin comps? Second cousin comps? Perhaps. Should we ask a question why the Kill Winds building sold for $1,110,000 and why did the Reed's building sell for $5,500,000 and why it's a 5X disparity? We should. Do we highlight the fact that Reeds has parking on site?

We should. Do we know that Kilwins, a lot of people don't realize this, had some parking spaces on site behind the building? Yes. Do we know, this is public record, that those parking spaces behind Kilwins were being sold a la carte outside the building deal by a guy who was trying to maximize margin at closing? Yes. I think that's public record.

That is public record. Spaces behind the Kilwins building were being sold outside of the sale of the building a la carte to maximize margin. Could you have added some parking spaces if you wanted to purchase the Kilwins building? Yes, but that was going to be a separate transaction. You know what a parking space sells for in Charlottesville, Virginia? What do you think a downtown parking space sells for in Charlottesville, Virginia? Viewers and listeners, what do you think a parking space in downtown Charlottesville

sells for in Charlottesville, Virginia? Put it in the feed. Any viewer and listener that gets this right, well you'll live forever. Like you pay a one-time... If I wanted to buy a parking space from somebody who owned parking spaces in downtown Charlottesville, there's a lot of old guard OG Charlottesville that owns parking spaces that you can buy parking spaces from. How much do you think a parking space sells for in downtown Charlottesville, Virginia? Got a guess? Reasonable guess. Reasonable guess.

20,000. Okay, Judah's in at 20K. Not a bad guess, my friend. Not a bad guess. Anybody want to take a guess on what a parking space sells for in Charlottesville, Virginia? Anybody? Should I give them an answer? Should I give it to them? I don't know. If you're able to buy a parking space in Charlestown, Virginia right now for $50,000, you should jump on it. I've personally been a part of multiple single parking spaces being sold north of 50k Wow one parking space

North of $50,000 for one parking space right off the downtown mall one parking space Okay So Charlie was smart to sell those parking spaces behind Kilwins separate from the Kilwins building Charlie was smart to sell those parking spaces behind Kilwins, separate from the Kilwins building. Five X difference. Deep Throat says I think the difference between the two properties, one, like you say, the Kilwins building is long‑term lease while ReEDS is empty and two, ReEDS has way more

development potential, bigger lot, lower value structure on it, so you can tear it down. No bar restrictions at ReEDS, serious bar restrictions if you want to do anything with Killwins Building. Board of Architectural Review is bar folks. If you wanted to do, if you wanted to put a sign up on the building, had a grandiose idea of purchasing the Kilwins building and having a sign up front, you know, calling it like the Miller building, something like that, utilizing the building for some branding.

I spoke to my mentor about that, Bill Nitchman, owns a boatload of real estate, do a lot of deals with him. He says, you know what, that's gonna take you, be much more challenging than you think to put up signage up there. Then he goes, all those awnings, all that signage, all that color, everything you see on those buildings, approval needed.

And he says, Jerry, remember when you talked about on the show, appreciate that he listens to the show. Remember when you talked about on the show that City Hall was trying to tell the merchants on the downtown mall what color their umbrellas were supposed to be? On their alfresco dining at the restaurants? Yeah. Think about alfresco dining and them telling them what color their placemats and their umbrellas and their furniture outside

was supposed to be. What do you think they're going to do with something permanent? 5X though? Did twice as nice overpay? This is a serious question I have for you. Was the interest in the Reeds building so significant by developers, multifamily housing, enthusiasts and opportunists that twice as nice was told by the family, you need to get to this number if you want to purchase it.

We prefer you to buy it because you're going to keep the structure the same and not tear it down and build housing. But we can't give it to you. But we're not going to take a pay cut or a haircut. So here's the number. We need you to get to 5.5. Like if you're Chris Henry and you're Stony Point and you own Dairy Market, and you're Chris Henry and you're Stony Point and you own Dairy Central, and you're Chris Henry and you're Stony Point and you own Ivy Square Shopping Center across the way where Intergoal Yoga and those other merchants are, did you not consider buying reeds?

I'm genuinely asking the question. I think Chris is a brilliant guy. He's certainly got a lot of money backing him and Paul Manning. Brilliant guy. Does great work. Love what he's done with the projects around here. He is the mayor of Preston Avenue, Chris. The mayor of Preston Avenue. Like Terry Hinderman is the mayor of Preston Avenue, Chris. The mayor of Preston Avenue.

Like Terry Hinderman is the mayor of Fry Springs. Like Stefan Freeman is becoming the mayor of the downtown mall. With draft tap room and old metropolitan hall and body and reed and VT spirits. And that sushi joint behind VT spirits. Or inside VT spirits. Damn good sushi. Of course you looked of 50,000 now. 3600 Randy O'Neill says for that parking space. 50,000 plus.

Think about it like this. If you were to rent a parking space in the Market Street garage or the War Street garage, you're spending $135 a month. You're spending $135 a month and then you're having to go up floors and walk. The parking spaces I'm talking about are selling right off the mall. 5.5 seems to be a bit rich. John says I had the same thought as Deepthroat about the redevelopment potential with REITs but I just can't see twice as nice buying that property for redevelopment purposes. I agree, John.

I don't think twice as nice as buying it for redevelopment purposes. I think twice as nice as buying it to legitimately run a thrift store operation out of it. And I think eventually the thrift store operation and the nonprofit that runs the thrift store is going to basically say the dirt under our thrift store is more valuable than the operation that we're actually running here. On top of that, we can put this operation anywhere and people will come to us because it's a destination business. And they're gonna get offered a number

or they're gonna come across some financial hardship or some kind of headache and they're gonna take it and they're gonna piece out. I stand by the statement, the future of that corner on Preston Avenue is not gonna be retail. The future of that corner on Preston Avenue is not going to be retail. The future of that corner is housing of some capacity. I stand by the statement. And we can make the argument that multifamily housing is soft right now and has significant

headwinds, UVA requiring second years to live on grounds in the near future. We can talk about Grey Star's project on Old Ivy Road by St. Anne's and the bypass, that massive dirt that we see undeveloped. We can talk the subtext property by Scott Stadium, 1300 plus units by Scott Stadium. Grey Star is basically building a little town on the bypass next to St. Ann's and Old Ivy Road. I mean, that's like an F in town over there. We can talk about all these projects coming online at the exact same time. We can say that's a glut. All right. 128 marker. You want to add any commentary on the protest that you saw at Stonefield? I think you did a pretty good job exploring it. It's pretty wild that Don Lemon came to Charlottesville to be a part of it.

It certainly was an incredible showing. I heard everything from, you know, a thousand people to multiple thousands. Whatever the true number was, it was certainly impressive. I'm going to add this question. If you put the right lower thirds on screen here, please. Was that the most significant protest in Charlottesville over the last 25 years from a numbers and turnout standpoint? I would be surprised if there was another one that beat it out. Was the Trump hands-off protest on Route 29 in the shops at Stonefield the most voluminous by number protest in Charlottesville since the year 2000 when I first arrived here?

As the first year at the University of Virginia. Were there more protesters and counter protesters at August 12th, A12 and the downtown mall than what we saw on Saturday? Sincerely have that question, Do not have that answer. Can anyone answer the question, was that the greatest volume by numbers protest in Charlottesville that we have seen over the last 25 years? And were there more people there than were on Market Street, up and down Market Street, including in front

of the I Love Seville studio on August 12th. And that's not about politics, that's not about Trump. That's not about… I think it may have been. What? I think it may be larger. Do we have a number? I'm looking at just a quick look at 29 News says an estimated 4,000 demonstrators at Charlottesville

protest just the other day. This is the problem. When people make estimates of attendance, it's impossible to get a true feel of what the attendance is. It's hard to count how many people are when you're standing right there. I would like to know if that was the most significant by volume protest that Charlottesville's seen

over the last 25 years, a generation. How many years are in a generation? How many years? A generation. How many years are in a generation? How many years? 25 to 30 years. So a generation. The most significant protest we've seen in the Charlottesville area over the last generation. Was that it? And good God. I'm guessing it likely was. That says something right there. That says something right there. That says something right there when you consider August 11th and August 12th.

That says something right there when you consider George Floyd, the murder of George Floyd and the fallout from George Floyd. But that wouldn't have caused an expected and an expectedly large turnout in Charlottesville. What the George Floyd murder was the momentum and spark for the Black Lives Matter movement and the Black Women Matter movement. I know. And all the offshoots. And it was across the U.S. It was across the U.S. Yeah. What was the other one that was on where they hung Dave Norris and Effigy? Oh, my God. Occupy Wall Street? Yeah. Was it Occupy Wall Street? Occupy? I think it was Occupy. Was it the Occupy Charlottesville. Yeah, it was the Occupy Charlottesville movement.

They hung Dave Norris in Effigy and Market Street Park. I remember walking around there. When was that? That was in 2011. On Market Street. Occupy Charlottesville. Kevin Yancey says A12 was all over the city where the hands-off protest was in one spot.

That's true. Logan Oels Claylow, thank you for watching the show. Reddy O'Neill, Philip Dowell, thank you for watching the show. You may be looking at your biggest protests over the last generation, what happened on Saturday. Yeah, I wouldn't be surprised. And that's a perfect segue into market volatility and some of these topics we can utilize on

tomorrow's show, including a reminder that Burt Ellis is on Wednesday's show. Governor Glenn Youngkin fired Burt Ellis from the Board of Visitors. Burt Ellis is coming on the show in a tell all interview on Wednesday. You the viewer and listener can ask Bert Ellis a question. Let us know what you want us to ask Mr. Ellis. It's got to be a question that is not, you know, how would I characterize what I'm looking for? Insulting? You're not going to insult the man here on my show, our show. We can ask challenging questions, but we're not going to insult the man. I want to carry this topic on tomorrow's program because I think we're in for this for a little

while here. I'll close with this. Market volatility. You got the Dow right now, 300 points down. The S&P 500, the Dow and the S&P 500 are teetering on bear market. Trump is going balls to the wall with China. Trump is going balls to the wall with to the wall with a boatload of countries right now and this tariff plan. Some Trump supporters say if you're going to make an omelet, you've got to crack some eggs. I hate that metaphor, by the way.

I mean, it's a fair metaphor, just maybe not the best place to use it right there. Because of the eggs? Because we don't yet know that we're getting an omelet. Because we don't know that if the eggs that could be cracked could lead to salmonella death for all of us or it could lead to a nice bacon, egg and cheese omelet. Let's hope it's not salmonella death. Let's pray it's a bacon, egg and cheese omelet. Let's hope it's not Seminella death. And let's pray it's a bacon, egg, and cheese omelet. Bacon and cheddar cheese omelet. But regardless, I've been here 25 years actively involved in

business for a large portion of those. I've never seen the headwinds we're facing right now with hiring freezes, with cost of living raises put on ice, performance based bonuses put on ice, discretionary spending put on ice, with the Internet clearly cannibalizing a lot of local business, restaurant and retail specifically. And now with the call to top 5, 10% of this community, heck, call to top 25% of this community from a socioeconomic standpoint quaking or shaking with retirement portfolios. That topic on tomorrow's show, this is the I Love Seaville show, this is the water cooler of conversation for Charlottesville and central Virginia, and there's a reason why all the local media outlets are watching the program right now.

Bert Ellison, Wednesday, Judah Wickower, yours truly, Jerry Miller, thank you for joining us. Thank you..