Kmart's closing leaves south Oxnard no comparable store
Sears Holdings Inc., Kmart's parent company, announced two weeks ago it was permanently closing the store at Channel Islands Boulevard and Ventura Road.
The store had closed for three days after a Jan. 22 rainstorm caused part of the roof to collapse. It reopened for a day and a half, then closed again after company officials determined it was "inoperable."
A Sears spokeswoman cited the rain damage and a decision not to renew a property lease that expired Jan. 31 as the reasons for shutting down the store.
Next year, Home Depot plans to raze the 104,000-square-foot Kmart, its 9,300-square-foot garden center and an adjoining 16,000-square-foot strip mall.
Home Depot is proposing to build a 106,000-square-foot store and a nearly 35,000-square-foot garden center, plus 604 parking spaces. An environmental impact report on the project is being prepared by the city.
This is really more of an urban planning failure than anything. Read the quotes from people that say it is easier to drive the 10 miles to camarillo than the 3 miles to the North Oxnard stores.
10 comments:
If eddie is walking away, it's probably a decent idea. He out-negotiated his own kidnappers (who claimed to be assassins hired by former management teams that he'd sacked). I wouldn't want to be sitting across the table from him.
When the blue light starts shorting out from the leaky roof, it's time to move.
There hasn't been a K-Mart in this neck of the woods for years. They haven't been missed.
Looks like Eddie's plan to turn Sears into the next Berkshire-Hathaway hasn't panned out.
An update to Suzanne Researched This.
I'm gutted. It's like I lost a fiver.
Wow Home Depot is going to open another store during this meltdown near ground zero?
That is like the Titantic metal shop guys continuing to fab up anchors after the iceberg hit.
Nice one Lou. In Mass, there is a guy named Tim Warren who tracks home sales for the banking /mortgage industry, but tells the truth. He makes a mockery of the Mass Relators numbers and assumptions every month.
Anyways, he is now making mainstream media including TV as nobody trusts the crap the MRA folks hurl out there. His take is prices are down 10% and sales off 25% last year. And the bottom is not here.
homer
Homer,
Today's Globe had an article about realtors that are running 'foreclosure tours' - they run busloads of people around to all the bank owned homes
"'foreclosure tours' - they run busloads of people around to all the bank owned homes"
Magical Misery Tours.
Hey guys -
Off topic, but a nice commentary on the middle class squeeze. It's only in regards to the Silly-con valley area, but I suspect this isn't too far off for other areas.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/02/19/BUI2V2SGD.DTL
fcb
they were showing them on the boston news last night right after the interview with Warren.
Looked like clueless sods who think they are saving 50% on foreclosed houses in bad neighborhoods. Still some suckers left if one spins it correctly.
h
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