Iconoclast Books & Gifts, Hailey, Idaho, hosted an eviction party yesterday. Owner Sarah Hedrick had posted on Facebook Tuesday that her business "was served an eviction notice today, not because I have ever fallen behind on my rent, so I can't answer questions as to why. (Greed?) In July, the owner of the building was in town (he lives primarily in Miami) and told me he 'would always work with the bookstore and Java Hailey because we are valued tenants in his building.' Less than a month later he increased our rent by 55% and before I could even sign the lease I was evicted. So much for a vibrant retail space in Hailey.... No DiVine Wine Bar, @Sun Valley Ballet, International Cowboy Cocina Restaurant and now no bookstore! Good luck, Steve Holzman."
Last week, in an article headlined "Tight property inventory drives up commercial rent in Hailey," the Idaho Mountain Express reported that "the commercial real estate market--slackened for months by the Covid-19 pandemic--is beginning to look like the residential one, marked by slim inventory and rising prices."
Hedrick told the Express: "In August I was told they would have doubled my rent, but because [Holzman] valued my bookstore he would only raise it 55%. It felt like I was supposed to be grateful, but I was in shock. I have already lost a home and a car to my business. During the pandemic, I wasn't eligible for any relief."