Monday, October 20, 2008

Local shopping center about to become a ghost town

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.

6 comments:

Rob Dawg said...

I smell... I smell... OPPORTUNity! Oh.. wait, does opportunity smell like sweaty feet? Never mind.

All your Circuit City and most of your Best Buy and Hallmark and "Game[anything]" and anything 'R" Us are gone. not closed, gone. Forever. There is no anything to replace them. None. There will be a Fry's in a couple years employing maybe 150 and it will be hailed as a major coup. Sucks to be BK-field not that SoCal is any better.

backoclown said...

Circuit City is in the same shopping center as Mervyn's and Shoe Pavillion

Bakersfield Bubble said...

Yes, that shopping center has a CC...I would expect that to close after Christmas.

Rob - I think its not just SoCal but the entire state will be sucking...2009 will be a tough year on the CA's who are not financially prepared.

Realestateslasher said...

can anybody say what was the effects of the savings & loan
junk bonds realestate economic depression of the late 80's effect on Bakersfield as far as biz closing in town come on people share the news

Anonymous said...

Gottschalks is in trouble too. It was just de-listed from the stock exchange. Look out East Hills

Ichabod said...

Circuit City manager said the CC here is very successful and is in no fear of closing.

Gottschalks said the two stores in Bakersfield are the most lucrative and will not be closing.

We'll see on them both like it was said, probably after Christmas.

So, will the Friday after Thanksgiving be Black Friday, or will it be Dark Red Friday (i.e.- A lot but not enough)???

However, Linen & Things at the Promenade in NW is closing. That is the first large building store in the history of Promenade's existence to close.