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A lot of road projects are slow because there's too many levels of government funding it. It's great to not have to shoulder interstate expansions 100% at the local level, however getting funding from the city, county, state, and Feds means that many more layers of bureaucracy. The Feds require years of environmental studies before most projects can move forward.
I don't think D&B would go there anyway, I don't think it's central enough. Just saying Sears is definitely not gonna sit empty. One or a few stores will divide it up. Malls may be dead, but don't tell Northwoods that.
As for D&B, I think it'll come to Citadel once that gets redeveloped. If that takes too long then I could see Tanger.
Do they own the ground at Northwoods? I think they may be holding onto the Citadel store because they figure the ground is worth holding onto. As I understand it, their property holdings are the most valuable thing Sears/Kmart has to offer anymore.
Do they own the ground at Northwoods? I think they may be holding onto the Citadel store because they figure the ground is worth holding onto. As I understand it, their property holdings are the most valuable thing Sears/Kmart has to offer anymore.
The Northwoods Sears is owned by Seritage, the REIT that Sears formed a few years ago. They terminated Sears' lease on the property. Presumably because they have a new tenant lined up. I've heard rumblings that new tenant is Burlington Coat Factory.
The Citadel Sears is owned by Sears corporate. And from what I understand, while it may not be doing well, they aren't willing to sell the property for a bargain. They seem to be quite proud of it...or they know it would be valuable for a redevelopment project.
I also hear the Citadel JCP which is slated to close this summer is in negotiations with a national company to sell their parcel, although it will be "nothing earth shattering", so I am reasonably sure we're not getting our Macy's or Nordstrom...I just have zero idea who it could be. Burlington is right down the street at Ashley Landing, and they typically don't own stores or operate on more than one floor.
The Northwoods Sears is owned by Seritage, the REIT that Sears formed a few years ago. They terminated Sears' lease on the property. Presumably because they have a new tenant lined up. I've heard rumblings that new tenant is Burlington Coat Factory.
The Citadel Sears is owned by Sears corporate. And from what I understand, while it may not be doing well, they aren't willing to sell the property for a bargain. They seem to be quite proud of it...or they know it would be valuable for a redevelopment project.
I also hear the Citadel JCP which is slated to close this summer is in negotiations with a national company to sell their parcel, although it will be "nothing earth shattering", so I am reasonably sure we're not getting our Macy's or Nordstrom...I just have zero idea who it could be. Burlington is right down the street at Ashley Landing, and they typically don't own stores or operate on more than one floor.
So Sears does recognize the value of their citadel parcel. I'm a little surprised that JCP is choosing this time to vacate there. It seems on the cusp of a turnaround and I'm sure they must recognize that.
I wouldn't want to see Burlington in there. Mainly based on my experience in their West Ashley store, I think of them as a sort of "seedy" establishment.
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