2013 Lowe's store closing rumors in the news

Posted in the Lowes Companies Forum

Alvarez Nation News

Coplay, PA

#1 Jan 15, 2013
Rumors of Lowe’s closing are on San Marcos’ radar

SAN MARCOS — City Hall leaders are aware of the persistent rumors that Lowe’s in San Marcos may shut its doors, a move that could mean the loss of one of the city’s top revenue producers and roughly 125 jobs.

“We’ve heard what you’ve heard,” city spokeswoman Jenny Windle told a reporter on Monday, referring to the months-long speculation about the home improvement mega store.“But we’ve had no formal indication from Lowe’s about what their intention is.… If we had a strong indication that they were leaving, we would certainly take active measures to backfill the space.”

Natalie Turner, a Lowe’s spokeswoman, said the company would not comment on the rumors. Steve Kildoo, who heads the San Marcos Chamber of Commerce, said the speculation has swirled for six months.

The city collects $587,000 in annual lease revenue from Lowe’s, which opened in 2004 and anchors the city-owned Creekside Marketplace on Grand Avenue near state Route 78, home to Best Buy, In-N-Out Burger and several other stores.

“It would be significant if the rumors are true,” added San Marcos Mayor Jim Desmond, citing the lease and sales tax revenue generated by Lowe’s.“We have a very keen interest in keeping that center full.”

Lowe’s is listed among San Marcos’ top 25 sales tax revenue producers. When lease and sales tax funds are combined, the store is “probably No. 1” among commercial revenue generators in San Marcos, said former City Councilman Hal Martin, who was termed out of office last fall.

“Before I left, I had talked to city staff (about Lowe’s potentially closing) and it was discussed as a possibility,” Martin said last week.“It’s something they were very aware of.”

A new Lowe’s is expected to open in Carlsbad by fall or winter this year, said the Lowe’s spokeswoman. It’s slated for the corner of El Camino Real and Palomar Airport Road.

There are several nearby Lowe’s stores, including in Escondido on West Mission Avenue at North Quince Street; in Vista on Vista Village Drive at Route 78; and in Oceanside on Old Grove Road at Mission Avenue.

Kildoo, of the San Marcos chamber, said Home Depot, Lowe’s competitor in San Marcos, has been around longer and remains busy.

Sales never took off at the San Marcos Lowe’s as the store expected, he added.

“They (city officials) know that there’s going to come a moment when Lowe’s is going to leave,” Kildoo said, calling the potential closing “not one of the better kept secrets.”

Kirk Effinger, a San Marcos opinion writer for U-T San Diego, referenced the rumor in his column on Jan. 5.

Effinger, a member of the nonprofit San Marcos Economic Development Corportation, said the San Marcos Lowe’s never received the surge of customers expected from San Elijo Hills, a master planned community on the city’s southern edge that was cut off from much of San Marcos for years before Twin Oaks Valley and San Elijo roads were linked.

He wrote in the column that “Poor sales are bringing about the departure of Lowe’s from the city-owned Creekside Marketplace shopping center. This is no doubt partly due to the lack of customers from the San Elijo community making the trip “over the hill,” having become more used to traveling south to shop.”

Martin, the former councilman, said the potential closing and what to do about it has no doubt come up in regular conversations between city officials and the city’s commercial management firm.

City officials had not responded as of Monday morning about what, if anything, the city has done beyond talking to prepare for the store’s possible closing.

City and business leaders said they did not know where the rumor about Lowe’s started. Martin cautioned that Lowe’s may have started the rumor itself as negotiating tactic.

“I think that’s very possible that they’re trying to negotiate the lease down,” Martin said.

http://www.utsandiego.com/news/2013/jan/15/ru...
Alvarez Nation News

Coplay, PA

#2 Jan 15, 2013
"Martin cautioned that Lowe’s may have started the rumor itself as negotiating tactic."
bob is gone

El Cajon, CA

#3 Jan 15, 2013
Anyone curious as to the location of this store--it is in northern San Diego County, located between Oceanside and Escondido. The store is in a good area, and should be doing well. However...

“Bumming a smoke in Fresno”

Since: Feb 13

Location hidden

#4 Feb 4, 2013
You don't get between a dog and his meat

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