Thread regarding Sears layoffs

Why Kmart still stands at Lake and Nicollet as other Minnesota outlets close down

Two of the last three Kmart stores in Minnesota are set to close Sunday. That means the Minneapolis store that blocks Nicollet Avenue at Lake Street — as it has for more than four decades — will be the retailer’s sole remaining outpost in the state.

City leaders have long hoped to reopen Nicollet. But given the history of development at the site, that won’t be easy.

After years of setbacks, work finally got underway in 1977 on a development that some future leaders would call one of the worst planning decisions in Minneapolis history.

https://www.mprnews.org/story/2019/12/12/why-the-kmart-still-stands-at-lake-and-nicollet-as-other-minnesota-outlets-close-down

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| 1031 views | | 5 replies (last December 13, 2019) | Reply
Post ID: @OP+12tDQwBT

5 replies (most recent on top)

Eddie is going to try to shake down the taxpayers for all he can.

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Post ID: @1wbw+12tDQwBT

Matter of time (short). They just haven’t gotten the offer they want for the site. It’s over

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Post ID: @1tmv+12tDQwBT

Bad planning or not, it's still there!

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Post ID: @cgy+12tDQwBT

Faced with a similar situation, Federal Realty paid Kmart $14.5 million to terminate a 99-year lease in Assembly Square, Somerville MA, that would have otherwise ended around 2079. That Kmart store closed on November 17. The lease termination gives Federal Realty a free hand to develop surrounding parking lots as well as the Kmart site itself.

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Post ID: @cjc+12tDQwBT

So it remains open only because of bad planning...

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Post ID: @yvz+12tDQwBT

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