Monday, June 25, 2007

But Lowe's makes a go

Globest.com reports that Lowe's is moving into the southwest side of Chicago with a 20 year ground lease at the venerable and re-positioning Scottsdale Shopping Center at 79th and Cicero, bumping the occupancy rate up to 98%. I like Lowe's. And I like this move. The Ford City shopping district is jammed full of retail now on both sides to the point that traffic can be nightmarish. But this location is at the far south end of the strip, and it will attract people from the south, east and west. Plus you have other retail mixed in. Maybe Home Depot, at the north end for some years now, will capture that traffic, but I'd rather be at the south end.

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