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Sad day for this haunter......

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  • Sad day for this haunter......

    THE FEAR FACTORY

    Well after months of negotiating with the mall owners no reasonable deal could be made. The roof is all but completely shot after the horrendous winter we've had, the mall refuses to repair/replace it or renew our lease (also the rumor floating around is they've sold the building). So after a two year uphill battle building this haunt in the worst state in the country to build an indoor haunt, we only got two seasons (34 days) use out of what ended up being a huge financial and emotionally draining project.

    We invested over $700,000. into this 30,000' sq. ft. state of the art facility with the bulk of it spent in the hard build out, safety features and being forced to utilize union labor (welcome to NJ). Well over $300,000. of it is movable and will be for sale. At this point I am looking to sell it as a package to someone who basically is looking for a turn key haunt. This is where the real value will be for a buyer...I intend on letting it go for less than .50 cents on the buck...remember everything has about 34 days of use so it is virtually brand new! If I am unable to sell it as a package than down the road I would consider on piecing it out (I'll make more on it selling it piece by piece but way more of a pain in the ass!)

    When I say everything goes...I mean everything! From the Logo's, Artwork, Indoor & Outdoor Backlit Signage, Toll Free #, Website, FB Page, Billboard Vinyls, Radio & Warning Voiceovers, Complete Concession Stand Equipment, Cash Registers, CC Machines, Tickets, Security Radios/Flashlights, Sound System, Cob Web Guns, Tons of Spare Everything, Foggers, Hazers with loads of Fluids, Scent Machines w/ all types of Spare Scent Canisters, Individual Soundtracks/Amplified Speakers, Queue Line Stantions/Chains, 30+ New Fire Exinguishers, 80+ New Ultra High End Smoke Detectors, Warning Strobes & Enunceators, High End Fire Control Panel w/ Intercom, 50+ Custom Black LED Exit Signs, Office Furniture, Fire Rated Steel Emergency Doors w/ Panic Hardware & Closers, Themed Hall & Lobby Lights, Loads of Low Voltage Lights & Lanterns, Complete Themed Photo OP Area, Wardrobe, Mask, Make-up Areas, Loads of Weapons, Chainsaws, Actor Fright Lites, Coolers, Industrial 25 HP 120 Gallon Air Compressor, 120 Gallon Holding Tank Computerized Air Drying System, Loads of Air Lines & Fittings, Time Clocks/Card Holders, Industrial Drum Fans, Fully Thermed Lobby Area w/ Custom Countertops, Tables & Chairs, Two Different Facades, Over a $100k in the Best Animatronics Alone (many made just for us), All Theming, Decorations, Vintage Antiques & Props from around the Globe...yada, yada, yada....I'm sick just thinking about the incredible amount of time & effort that went into designing, locating, sourcing this stuff let alone the $$$ that was spent!!! Enough everything to pack 30,000' but it could be streamlined to fit into 20,000'-25,000' or divided between two haunts (as it is now it is two separate attractions...The KILL GRILLE & MAYHEM MANOR)

    Those that know me or have visited the FEAR FACTORY can attest to the quality, effort & money put into this attraction...I am just devastated its over! I am just too emotionally drained to compile the complete inventory (area by area & room by room) the final pricing & get all the pictures into one neat file but I hope to by Monday and have it posted on here. I think I will announce several dates for complete "show" style walk thru's as well as individual walk thru's by appointment. The attraction is located about 10 miles outside of Atlantic City, NJ & only about 3 miles from the Atlantic City International Airport & about an hour from Philadelphia International Airport. It can be sold as: you disassemble, pack, crate & ship or me & my team can do it for you (neatly organizing, packing, palletizing & labeling) & have my electrician remove all wired items as well for a nominal additional fee. Shipping/transporting will be the sole responsibility of the buyer but I can assist with obtaining trailers & drivers. The buyer will also receive full working blueprints (showing our layout) to help put the "puzzle" back together should you decide to go that route. I can also travel to your location & assist on reconstructing the haunt if you desire (additional fee & travel expenses though).

    So for anyone looking to start a full blown professional haunt (or two), this is the only route to go...saves you not only more than half off the cost but countless hours & money hunting, locating, sourcing, negotiating, buying & picking up all the various items associated with building a venue of this caliber...THIS WILL BE A STEAL!!!

    Thanks to everyone who offered advice & encouragement as we went thru Hell & back building this venue. Even as a 25 year veteran as a builder/general contractor would I EVER build another indoor haunt in this state! NJ THE most "business unfriendly" state I've ever known!!! Bogged down in so much red tape, oversight, rules & regulations it can't even get out of it's own freakin' way! However, that being said...I love this industry so much that I have actually already begun discussions on building a first class hayride/screampark locally. The governing regulations are sooo much more relaxed & so many cool things I want to try outside that I couldn't do inside. I understand the weather factor but....just can't walk away from this addiction just yet! Unfortunately 90% of what I own now is no good for outside venues...otherwise this would be a no brainer! Well I'm tapped for tonight...look for my inventory/picture post coming soon!


    Pickle
    Jim Pashley
    The FEAR FACTORY
    www.thefearfactorynj.com
    855-NJ HAUNT
    sigpic
    "WE MANUFACTURE NIGHTMARES"

  • #2
    Sorry to hear it, Pickel.
    Best of luck on your future endeavors.
    Fright In Falcon Haunted Maze
    http://frightinfalcon.com

    Comment


    • #3
      Ditto that, Sorry man
      Like a midget at a urinal, you gotta be on your toes

      http://www.wellstownshiphauntedhouse.com

      Comment


      • #4
        I feel your pain

        My building owner is doing everything he can to price us out, hundreds of thousands in the hole and he wants to triple the rent cause he sees lines on the weekends. And he is a slum lord on top of that. Good luck man.
        Joe Phillips
        The Shallow Grave
        Winter Haven FL
        http://www.theshallowgrave.com/

        Comment


        • #5
          Thanks guys...

          Thanks for the encouragement guys......gona keep pressing on I guess! And Joe, I'm sorry your facing similar BS. This mall I'm in is owned by 5 attorney's (and they own 4 other malls to boot) they don't go for ice water! I know the AC Racetrack (horses) directly behind me just sold (huge chunk of real estate) so I think there may be some truth to the rumors that my building was sold to someone trying to get a jump on what may be a huge project behind me. I don't know but it SUCKS! Best of luck to you though!


          Pickle
          Jim Pashley
          The FEAR FACTORY
          www.thefearfactorynj.com
          855-NJ HAUNT
          sigpic
          "WE MANUFACTURE NIGHTMARES"

          Comment


          • #6
            Me too

            I had a simular situation too. That's why in a thread a new member started I tried to stress the fact that you should own we're your haunt is located. I know it's easier said then done. The country is full of greedy jerks that care nothing more then to fill there pockets full of everyone else's hard earned money. Even if you buy a place threw a bank and have a mortgage at least you know what it costs every month and it won't triple overnight. I am working on buying some land now and going from there. I hope all the newbies read this thread and see you can put 700k in your haunt but if you don't OWN your location you can get screwd by your landlord when lease is up and it's time to work out a new one. Sorry pickle and to all other haunters that have been screwd by greedy landlords.

            Comment


            • #7
              Seems to be a trend

              We are in the same boat. Landlord told us at the beginning of October, after I had already spent my marketing dollars for the season. Had to lay out another several thousand dollars to get it all packed up and buy a storage container to put it in. Sucks, but now looking for a new location like many of you are, and hoping for the best.
              Travis "Big T" Russell
              President
              Big T Productions Inc

              Owner and Operator of "The Plague" and "Camp Nightmare"

              Customer Quote of the year: "Damn, I pissed myself"

              Comment


              • #8
                Big T...

                Sorry to hear that Big T...I just find it funny these landlords have buildings sitting empty for years & years...(13 years in my case!) they cut a deal than drive by & see long lines & than the greed sets in!!! In an economy like this you would think they wouldn't want to rock the boat...oh well...firm believer in "everything happens for a reason"! Good luck to all facing similar circumstances.


                Pickle
                Jim Pashley
                The FEAR FACTORY
                www.thefearfactorynj.com
                855-NJ HAUNT
                sigpic
                "WE MANUFACTURE NIGHTMARES"

                Comment


                • #9
                  May wanna consult a lawyer on it just to be sure they're not liable for any restitution. If selling, they might be discounting the roof repairs in an effort to remove you to make the property more attractive to a newer buyer?

                  Comment


                  • #10
                    Sorry to hear that but in the end I always say things work out for the best given time!

                    So in other words when all the chips fall things will work out for the better you'll see!

                    Larry
                    Larry Kirchner
                    President
                    www.HalloweenProductions.com
                    www.BlacklightAttractions.com
                    www.HauntedHouseSupplies.com
                    www.HauntedHouseMagazine.com

                    Comment


                    • #11
                      Hope So.......

                      Thanks Larry,
                      I'm hoping so...this was a huge blow...both financially & emotionally! But working on cutting a deal with an existing hayride that I want to develop into a full Screampark. Should know something in the next couple weeks.

                      Pickle
                      The FEAR FACTORY
                      Jim Pashley
                      The FEAR FACTORY
                      www.thefearfactorynj.com
                      855-NJ HAUNT
                      sigpic
                      "WE MANUFACTURE NIGHTMARES"

                      Comment


                      • #12
                        Tax Write-offs

                        I think the strategy in America pertaining to real estate, is that they make more money having empty buildings than having a cheap tenant. Let me explain:

                        The economy where I live is not great, many empty commercial retail spots, but you sure wouldn't know such by the prices these building owners think they can charge to rent a building.

                        Many retail locations are owned by big corporations and conglomerates. Some buildings are winners, some losers. Why rent a building to you for $30K a year, when they can say it is worth $60K a year and a take a tax write-off for the larger amount to offset the good money they earn elsewhere?

                        I don't know how else to explain it. Years ago, I tried to rent a 12 year empty, derelict building for half the asking price, the owner said no. We countered, it has been empty for 12 years and is falling apart, wouldn't half the money be better than nothing. They said no. Cut to 12 years later and the building is still not being rented and never has been.

                        They have (or had) tax laws that say if your business doesn't turn profit within a 5 year period, that you are not operating a business but a hobby. I think the same should apply to commercial property, if you don't rent it out within a 5 year period, you no longer get the tax write-off.

                        Anyone got a better explanation?

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