It looks like the shopping center that held the Mervyn's store on California is going to have another large vacancy. Shoe pavillion announced they are too tired to continue selling crappy shoes. Within one mile of this shopping center is an additional 300,000 square feet of empty commercial real estate space...what were those experts saying about CRE again?
By the way this shopping center is owned by the large Australian group that has had many CRE problems lately...more pain for them...good day mate.
Shoe Pavillion going bust:
Shoe Pavilion going out of business
Last update: 5:02 p.m. EDT Oct. 20, 2008
SAN FRANCISCO (MarketWatch) -- Shoe Pavilion Inc. said late Monday it will close all of its 64 stores after 29 years in business. Shoe Pavilion was once the largest independent discount footwear retailer on the West Coast.