ED Magedson – Founder
Great American Capital8350 W Sahara Ave., Suite 210, Internet United States of America
I began working with this company back in December 2007 when I wanted to develop the first of several Baseball themed Sports Bar and Grills. In the begining all activites seemed to be part of a normal process and as time went on we found out otherwise.
However, it took a year and a half to complete the commercial development we hung in and contracted and architect to design our facility. Once that was done, we submitted the plans to the town and received approval to begin our tenant improvements. At this time, I had already spent over $40,000.00. In June of 2008, we signed a lease for three consecutive eight years terms. The developer demanded that we had to install our grease interceptor (another $15,149.00) as soon as possible because the needed to pave the entire property. They gave us an ultimatum have it in within 72 hours or we would begin paving. Therefore, because of the additional expense to cut pavement we dropped the trap within 48 hours and received an inspection approval by the town official. Great American Capital promised us the building would be ready for us to begin the tenant improvements in July, August, September, October, November and December in the same year, which never happened.
For the next several months all communications stopped, we could not raise them by telephone or email period. Then in April of 2009, we received a call requesting that we downsize our project by 3,000 from the original planned and approved 6,000 sq ft. When we objected and asked for their reasoning behind the request, they stated they felt we were not going to be successful and therefore wanted us to down size. You have to understand that in my town there is a not one sports bar within the entire town. After two or three months of arguing over this topic we decided to amend our original lease to a 3,000 sq ft N.Y. Style Deli and Catering operation since we were already catering to a local school. We felt we would just find another location for the sports bar and through the Deli we would be able to recoup our loses through that business. When all the negotiations were concluded, we actually ended up being down sized to a 1,800 sq ft Deli.
Since then several more months have passed and we still have not began our tenant improvements for the Deli and communications with this developer is even worse than ever. As of March 10th, 2010 they contacted us and stated if we would send the a check for $36,000.00, they would then begin the grey shell improvement and then we could bring in our contractors to do our tenant improvements.
I told them that based on their actions, history of our relationship and their present reputation found in public records, we would be crazy to give them a dime. I further stated that because of their prior actions or lack of action we consider their company to be breach or our original lease, the addendum and was demonstration good faith when dealing with us. I further added that extortion now comes into play once again because of their request for $36,000.00. At this time, we are now out of pocket over $105,000.00 with nothing to show for it.
The following are concerns we have found through public records searches that validate their character as a reputable business. I seriously caution anyone who is considering doing business with this company.
1. GAC has a F rating with the Better Business Bureau; http://www.vegasbbb.org/bbb_rated_acc_rpt.asp?bbbid=79205&tr=rated&lg=F&ex=15%2C19
2. There has been multiple civil actions brought against the company and though some of these cases have been dismissed; there are still active cases pending as follows; Justice Civil Case # CC2009-429875, Civil Case # CV2009-039404 and Civil Case # CV2009-032013.
3. As of March 1st, GAC owed the Town of Buckeye in the excess of $250,000.00 for unpaid fees for services and permits with regard to Miller Market Place. As a result, Walgreens never received their C of O. However, this week the town did confirm they received partial payment and that as long as GAC remained working towards full compliance, there should not be any further delays.
4. As of last week, GAC failed to pay a working contractor performing work for two different tenants and as a result the completion of their business/suites is now far behind schedule.
New businesses BEWAREThere are more reputable companies to deal with if you are considering starting a business in, Arizona, California or Las Vegas.
This report was posted on Ripoff Report on 03/11/2010 01:11 PM and is a permanent record located here: http://www.ripoffreport.com/r/Great-American-Capital/internet/Great-American-Capital-Miller-Marketplace-LLC-Breach-Fraud-and-Extortion-Internet-579862. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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