Walmart Retains Broker
— by Jeffrey Wisniewski — 4 December 2008 — 1 comment below »
It looks as though Walmart will be selling its Parcel C property. According to a city planning staffer…
At last night’s scoping meeting for the Environmental Impact Report for
Redevelopment Area 3 (Hill Town and Sycamore Crossing), the City
Manager informed us that Wal-Mart–not too surprisingly–has retained a
broker to sell its 17-acre Parcel C on John Muir Parkway. If and when
Wal-Mart does sell the property, it will likely include deed
restrictions that prevent Wal-Mart’s competitors (e.g., Target and
other big-box format stores) from purchasing or occupying the site.
This would be similar to the deed restrictions that prohibit a grocery
store larger than 5,000 sq. ft. on the Sycamore Crossing site, a
restriction that Lucky/Albertson’s included when it sold its rights to
the property a number of years ago.
Is Hercules’ long nightmare coming to a close?
Does anyone know how much the CIty spent on legal fees in suing Walmart and how much was spent in settling the litigation?