My sources tell me that Walmart has abandoned their plans to build a store in LPSC and the center has been sold. The new managemant plans to to renovate and remarket the center with agressive advertising and annoucing that the spaces are available for lease once again. To me this is great news. A Walmart is not needed (or wanted IMO) considering that they have a brand new Supercenter just a few miles north in Dearborn.
I hope that the management team is successful at revitalizing LPSC. It really has a lot of value and I would hate to see its potential go to waste andy longer.
Next up:
Fairlane Town Center : Bucking the Trends
Wednesday, November 19, 2008
Tuesday, November 11, 2008
Sorry that I haven't updated in so long. I have just been really busy with my own life a lot of my hobbies and things like that took a back seat. Its getting cold in Michigan by now anyway, so its prolly going to be pretty hard for me to take any pictures of my explorations. There are still quite a few malls and shopping centers that I can put on here that I know of, though. Thankfully for the state of MIchigan, I haven't noticed any new significant closinging around here...well, other than Circuit City planning to close 150 stores nationwide soon. I can imagine more than a few of those being in Michigan...sigh...so that more empty hulks to plague our landscape. If you ask me with that state of things as far as these gigantic empty stores, they should all be torn down and turned into parks or something like that.
Take for instance all these empty Home Quarters buildings...nones ever going to buy or lease such large buildings, so they are just going to let them sit there all the while paying leases, utilities and property taxes? I don't pretend to know much about real estate so correct me if I'm wrong, but that just doesn't make sense to me. Metro Detroit is one of the most retail saturated merto areas that I know of as it is...we have way more choice than we need in some areas.
Another example:
Dearborn has a Best buy, a Target, and a Home Depot all adjacent to Ford Rd. and Southfield Fwy. If you hop on Southfeild and head maybe 2 miles south you will find the Fairlane Green shopping center Which also has ALL THREE OF THE SAME STORES plus lots more. Its wasteful and it worries me somewhat. Dearborn is right next to Detroit and I know that scares retail away more often than not. I think its planning ahead, but fro the worst. I see it this way; if the fourtunes of Detroit go down any further than it will beigin to infect the surrounding suburbs wich may force retailers to close stores like those in Dearborn and because of FG, the wont have to build a new store nearby to fill the void.
I'm trying to have a more optimistic view of the future these days though.
Take for instance all these empty Home Quarters buildings...nones ever going to buy or lease such large buildings, so they are just going to let them sit there all the while paying leases, utilities and property taxes? I don't pretend to know much about real estate so correct me if I'm wrong, but that just doesn't make sense to me. Metro Detroit is one of the most retail saturated merto areas that I know of as it is...we have way more choice than we need in some areas.
Another example:
Dearborn has a Best buy, a Target, and a Home Depot all adjacent to Ford Rd. and Southfield Fwy. If you hop on Southfeild and head maybe 2 miles south you will find the Fairlane Green shopping center Which also has ALL THREE OF THE SAME STORES plus lots more. Its wasteful and it worries me somewhat. Dearborn is right next to Detroit and I know that scares retail away more often than not. I think its planning ahead, but fro the worst. I see it this way; if the fourtunes of Detroit go down any further than it will beigin to infect the surrounding suburbs wich may force retailers to close stores like those in Dearborn and because of FG, the wont have to build a new store nearby to fill the void.
I'm trying to have a more optimistic view of the future these days though.
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