Ra An and her daughter Karen Pin stand behind the counter of the family's donut shop. (Photo by: Ryan Crepinsek/Special to the Free Lance)Saturday, March 10, 2007
By Michael Van Cassell
Hollister Free Lance (Hollister, California, USA)
Hollister - On Tuesday, Ra An and Thoun Pin will become the first business condominium owners in Hollister history.
It's been almost 13 years since An and Pin bought Donuts and Deli on San Felipe Road. But it wasn't until Lee and Jeremy Schmidt of County Property Exchange bought the complex last year with plans to convert the strip mall into a condominium complex for local businesses that An, 45, and Pin, 48, had the opportunity to own their place of business.
And it was just in time, An said. The lease on Donuts and Deli was set to expire within a year of County Property Exchange's purchase, she said.
With the purchase, An and Pin - who escaped Pol Pot's Khmer Rouge in Cambodia with their 3-year-old son, Bundrin, in 1985 - plan to be making donuts for many years to come.
"We own the shop," An said. "We're not worried about the lease."
Their daughter, Karen, an 18-year-old San Benito High School senior, is in the shop at 5am to help out for a few hours before school.
"I think they work hard," Karen Pin said. "They definitely deserve it."
In fact, Thoun Pin works seven days a week. He starts making donuts at 1am during the week and at midnight on Saturdays and Sundays, which are the store's busiest days. Ra also works seven days a week, beginning her days at 7am.
The hard work has paid off. Instead of renting, An and Pin will soon begin building equity with the $500,000 purchase of their space, Schmidt said.
"Small business owners spend their lifetime building their business," he said. "It's their dream. In this situation they can have real estate along with a dream."
Business condominiums multiply an owner's effort and are gaining traction outside of Hollister, Schmidt said.
County Property Exchange has sold five of the 16 business condominiums in the San Felipe Office Park project. Donuts and Deli received a complete facelift, with a new kitchen, paint, tables, ceiling and lighting.
Many business condominiums are not redeveloped before being sold to owners, Schmidt said.
"They've already made themselves pillars of the community," Schmidt said. "And the ownership of the space is a nice foundation for the pillar that they are."
Michael Van Cassell covers public safety for the Free Lance. He can be reached at 831-637-5566 ext. 335 or mvancassell@freelancenews.com.
It's been almost 13 years since An and Pin bought Donuts and Deli on San Felipe Road. But it wasn't until Lee and Jeremy Schmidt of County Property Exchange bought the complex last year with plans to convert the strip mall into a condominium complex for local businesses that An, 45, and Pin, 48, had the opportunity to own their place of business.
And it was just in time, An said. The lease on Donuts and Deli was set to expire within a year of County Property Exchange's purchase, she said.
With the purchase, An and Pin - who escaped Pol Pot's Khmer Rouge in Cambodia with their 3-year-old son, Bundrin, in 1985 - plan to be making donuts for many years to come.
"We own the shop," An said. "We're not worried about the lease."
Their daughter, Karen, an 18-year-old San Benito High School senior, is in the shop at 5am to help out for a few hours before school.
"I think they work hard," Karen Pin said. "They definitely deserve it."
In fact, Thoun Pin works seven days a week. He starts making donuts at 1am during the week and at midnight on Saturdays and Sundays, which are the store's busiest days. Ra also works seven days a week, beginning her days at 7am.
The hard work has paid off. Instead of renting, An and Pin will soon begin building equity with the $500,000 purchase of their space, Schmidt said.
"Small business owners spend their lifetime building their business," he said. "It's their dream. In this situation they can have real estate along with a dream."
Business condominiums multiply an owner's effort and are gaining traction outside of Hollister, Schmidt said.
County Property Exchange has sold five of the 16 business condominiums in the San Felipe Office Park project. Donuts and Deli received a complete facelift, with a new kitchen, paint, tables, ceiling and lighting.
Many business condominiums are not redeveloped before being sold to owners, Schmidt said.
"They've already made themselves pillars of the community," Schmidt said. "And the ownership of the space is a nice foundation for the pillar that they are."
Michael Van Cassell covers public safety for the Free Lance. He can be reached at 831-637-5566 ext. 335 or mvancassell@freelancenews.com.
No comments:
Post a Comment