Ken Ashley

Spirit Halloween is the only tenant in America that: Signs in 48 hours.
Takes a dead Joann's as-is.
Doesn't ask for TI.
Doesn't ask for exclusives.
Doesn't ask what the NNNs are.
Doesn't even ask to see the site plan. Moves in with a 9-foot screaming clown and a fog machine. Pays rent on time. AND disappears November 1st without a forwarding address. Best Halloween costume! Or at least if yore in retail 😂

Buc-ee’s is quietly hoping first-time visitors never learn how the store actually works. Most people pull in for gas and a bathroom. They see the beaver logo, use the cleanest restroom they’ve ever seen at a gas station, buy a bag of Beaver Nuggets, fill the tank, and leave. They never realize they just drove past: a 74,000-square-foot travel center the size of a Walmart. Brisket smoked fresh in-house that rivals dedicated BBQ restaurants. A car wash longer than a football field. 120+ gas pumps with some of the cheapest fuel prices on the highway because the business model isn’t about gas. A wall of homemade fudge cut to order. Kolaches baked fresh every morning. Jerky in 15+ flavors cut and seasoned in-store. A credit card with 5 cents off per gallon. Coffee stations with unlimited free customizations that turn a $1.50 cup into a $6 coffeehouse drink. A merchandise section larger than most clothing stores with items you can’t buy online, ever. And a deliberate store design with no seating, no trucks, no overnight parking, and no phone ordering all by choice, all for a reason. A Texan who’s visited 30+ Buc-ee’s locations told me: “Out-of-staters stop for the bathroom. Texans stop for the brisket. But nobody not even most Texans understands the business model. Buc-ee’s isn’t a gas station. It’s a destination retail store that happens to sell gas. The gas gets you in the parking lot. The 74,000 square feet inside is where the money is made.” Here are 11 things about Buc-ee’s most visitors never discover 🧵

The hottest investment market in the US right now is office. Prices have been reset coming out of the Covid vacancy apocalypse. Work from home is largely dead. Owners have capitulated on price and the recognition that higher interest rates are here to stay. This will happen eventually with Multifamily. Get ready because this is when money is made.

Momentum continues to build in the U.S. office market, according to Cushman & Wakefield’s third-quarter U.S. Office MarketBeat. See the full article. cushwk.co/4jZmL75?blaid=9090…

ty for 4 years of bangers

And let me rephrase this— @bluestein @joekovacjr and @zach_ehansen have the amazing ticktock on the deal. Sorry guys!

Gov. Brian Kemp is well known to have a copious reading habit. One day he read that Audi was looking to build a U.S. manufacturing plant and the wheels started turning. @FitzTrubey has the amazing ticktock on the many years and dozens, maybe hundreds, of people it took to bring Audi to Georgia. ajc.com/business/2026/10/how…

One of the biggest downtown housing crashes in America is happening right now in Nashville, TN. Condo owners are liquidating. And people who bought near the peak are selling at $300k+ losses. The previous condo owner bought it for $1.15 million in March 2024. And just sold it for $825,000 this month. That's a $325,000 loss (-28%) in just 2.5 years. And that's before realtor commissions and other expenses. And this downturn will likely continue, as Downtown Nashville has the biggest supply pile-up of any dowtown area in America. (inventory 110% above normal). In fact, typical values in Nashville 37203 already down 11.2% from peak, but clearly are dropping more in some cases. Meaning condo sellers are facing an enormous amount of competition, with more price cuts likely coming in 2027. Good news if you're looking to scoop up a discounted condo. Bad news if you bought near the peak. To see our forecast for your ZIP, go here: reventure.app/map/WAxwklIfgI