Former Toys R Us: Perfect for Sears?
We’re talking about the building that formerly housed Toys R Us, located on Bockman Drive just east of College Avenue in Fort Collins, which is under a covenant that restricts it to retail uses only. The 45,500-square-foot building was once under consideration for the expansion of Windsor’s Ice Energy, but the property would have had to be converted to light-industrial use.
Sears, as a retailer, would be a good fit as far as the covenant is concerned, and Sears and JC Penney, which is next door, are used to being neighbors. After all, JC Penney used to be a part of the mall as well.
Right now, Sears is engaging in conversations with Alberta Development Partners, the new owners of the mall, and the City of Fort Collins to see if a deal concerning Sears’ property can be reached.
Alberta has said that if it is not able to obtain Sears’ store, it will not spend the planned $100 million to redevelop the mall. If no agreement can be reached, the city will consider invoking eminent domain over the property.
More breaking news...
To land job in IT, quality of contacts tops quantity
Rocky Mountain Tracking will ship 10 GPS
Halo Report: Angel cash now on the upswing
The quality of contacts has a
Colorado and other states in the region gained just a wee bit of ground in the number of deals they saw last year, according to the 2012 Halo Report