Clothing drive nets 200 bags for Salvation Army.
Prism Capital Partners, LLC, a real estate investment company, heard that the economic crisis is causing a run on thrift shops, leaving low inventories as demand is rising. The Salvation Army, in particular, reported that sales in stores around the country had spiked 5% to 15% in recent months, although donations fell 10% to 25%.
Prism immediately swung into action. "We wanted to help and realized that many people at our properties felt the same way," said Prism principal partner Eugene Diaz. "In an environment such as the one that exists today, it could be the person next to you who is in need, and you wouldn't even know it. That's why it is so important for everyone to be as generous as possible."
Prism got the word out to tenants in two of their properties--One Harmon Plaza in Secaucus and BroadAcres Office Park in Bloomfield--and in just nine days they collected thousands of new and gently used garments for the Salvation Army locations in Jersey City and Newark.
"The real credit for the drive's success goes to our tenants," said Prism principal partner Edwin Cohen.
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|Comment:||Clothing drive nets 200 bags for Salvation Army.(TRANSCRIPT)|
|Publication:||Real Estate Weekly|
|Date:||Dec 31, 2008|
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