January 18, 2005

Former WM Store Empty - Not WM's Fault!

Many people accuse WM of keeping former stores empty so that the competition won't enter. While the logic is tenuous at best, here's an example of how even third-parties have a hard time redeveloping after a WM expands down the road:

Although no lease agreements have been signed, there continues to be interest in the former Wal-Mart building in the Huck Finn Shopping Center....

The building which once housed the Wal-Mart store has sat empty since Wal-Mart's new supercenter in the River Bend Shopping Center, located just west of the Huck Finn Shopping Center, opened in April 2002.

In December, when it was announced that the Huck Finn Shopping Center, including the former Wal-Mart building, had been purchased by Equity Investment Group of Fort Wayne, Ind., Dennis Callison, director of acquisitions for EIG, indicated that consideration would be given to dividing up the building's 95,000 square feet of space to accommodate two or three retailers.

Posted by Kevin on January, 18 2005 at 10:56 AM