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Old Posted Nov 20, 2022, 3:17 PM
jammer139 jammer139 is offline
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Join Date: Jun 2016
Location: London
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They have been marketing this for well over a decade now. Finding an anchor tenant has been the biggest of many challenges I suspect. Even the 105,000 sq ft store is likely too small for the likes of Walmart to consider moving from Northland Mall up to this location. Walmart would likely want to built a new store in their Supercenter format which can be as large as 250,000 sq ft. Also they think they will get a grocery store as well which would conflict with a Walmart Supercenter. The Northland Walmart is a very good location but really undersized. I don't think this location is going to lure the likes of a HomeDepot or Rona/Lowes either. Can't really think of a retail that would be interested in the 105,000 building. The need for 2-3s office/retail mixed use is also tough given the very high office vacancy rates. Mixed use residential could be interesting if they changed the design from a big box layout to a urban streetscape with underground parking, retail ground floor and residential above. Building that design is significantly more expensive then the cheap big box design.
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