Quote:
Originally Posted by Sheba
I haven't heard anything since they first put the proposal forward - and that was when Sears owned the property and was going to work with Concord on redeveloping it. Since then they've sold it to Concord and are leasing the store from them. So it's up to Concord now and they haven't said anything about it.
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It wouldn't surprise me if the deal to sell the lots and the store to Concord include a deal for prime leasing space for a new store in the event of a new re-development down the road - even though Sears have been having a rough go of it with their stores and commercial properties all over the US and Canada.
Their current store at the mall is really showing its age (as is the one at Lougheed mall) and is literally falling apart, as is evident from the facelifts they're doing on the exterior.
It's rough out there for the big box retailers like the Targets and the Sears and such, which is probably why Sears looked hard at getting into the residential/mixed-use property development business.
Concord on their part have the luxury of sitting on the property for however long it suits them while they assess the market or while they see through their other projects in the area and in Brentwood.
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