Quote:
Originally Posted by djforsberg
I always thought the same but perhaps they are keeping the land empty until demand and lease rates rise enough to maximize their return. You'd think now would be the time.
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The land is actually for sale/lease and not expansion. The issue is mostly because Loblaw/Westfair imposes significant restrictive covenants on the land that severely limit its use by others. They prohibit everything from pharmacies, gas stations, banks, larger convenience stores, tall structures and many other uses. Therefore there are not many buyers.
On the other hand this strategy has worked well for them with rising property values, if they ever do find buyers - restaurants are the most likely.