Today, to my shock and dismay I saw that Weis Supermarket, in the Villages of Five Points Shopping Center, has opened a pharmacy within its store. There was no sign that this was coming, just what they called a renovation.
As a former business owner, I find this very objectionable. My pharmacy, Cape Pharmacy, has been in operation since the shopping center was built, approximately 15 years ago.
Cape Pharmacy does an outstanding job taking care of their customers, and nonprescription items are reasonably priced as well.
I would have assumed that most commercial leases would include a non-compete clause or restrictive covenant to protect the existing business owners. This would be like allowing another Chinese restaurant to open right next door to the existing Chinese restaurant. Not only does such a clause protect the business owners, but also has a value should a business owner decide to sell their business. Accountants actually break down a sales price, allocating certain amounts to such things as leasehold interest, trade name, inventory, good will, and importantly, the restrictive covenant!
Years ago I worked in D.C. as business broker, essentially a real estate broker who specialized in the listing and sale of all kinds of business.
Here is another illustration of this concept: I listed a fast food business for sale on Connecticut Avenue, and found a buyer very quickly. I learned that my buyer had recently sold his own fast food business, and had signed a three-block restrictive covenant/non-compete clause. It was unclear if the three blocks were city blocks or by the address. Since it was by the address, my buyer went and offered the folks that bought his business $10,000 to release him from the restriction. The offer was refused, and this buyer could not buy the business.
These types of covenants work in both directions, essentially protecting buyers, but also current lessees, like in this case - Cape Pharmacy, a long standing tenant that pays its rent on time, as well as contributing to the maintenance of the Village Center, and our community as a whole. They will deliver a prescription (who does this anymore?) and even may visit you if you are hospitalized.
I do not know what is in Cape Pharmacy's lease, but regardless, this is just wrong!
I urge all readers who currently use Cape Pharmacy to remain loyal to this wonderful business. Pat Grant and her wonderful staff go above and beyond for their customers. Now it's our turn to be loyal to them.
Barry Segel
Lewes
-
A letter to the editor expresses a reader's opinion and, as such, is not reflective of the editorial opinions of this newspaper.
To submit a letter to the editor for publishing, send an email to viewpoints@capegazette.com. All letters are considered at the discretion of the newsroom and published as space allows. Due to the large volume of submissions, we cannot acknowledge receipt of each submission. Letters must include a phone number and address for verification. Keep letters to 400 words or fewer. We reserve the right to edit for content or length. Letters should be responsive to issues addressed in the Cape Gazette rather than content from other publications or media. Letters should focus on local issues, not national topics or personalities. Only one letter per author will be published every 30 days regarding a particular topic. Authors may submit a second letter within that time period if it pertains to a different issue. Letters may not be critical of personalities or specific businesses. Criticism of public figures is permissible. Endorsement letters for political candidates are no longer accepted. Letters must be the author’s original work, and may not be generated by artificial intelligence tools. Templates, form letters and letters containing language similar to other submissions will not be published.
