Friday, July 29, 2011

Cabela's pulls out of Wheat Ridge retail development

A long-delayed retail development in Wheat Ridge lost its marquee tenant Thursday as Cabela's announced that it is withdrawing from the project.

The outdoor-goods chain said the project, in the works since 2004, no longer fits with its revised retail strategy. Cabela's is reducing its "involvement in the land development business," said chief executive Tommy Millner in a prepared statement.

Cabela's owns 80 acres near Interstate 70 and Colorado 58, where it initially planned to build a 185,000- square-foot retail destination showroom. The company now wants to sell the property and consider other Denver-area locations.

"It's an overall shift in retail strategy," said Cabela's spokesman Joe Arterburn. "We're better off concentrating on what we do best, which is retailing outdoor goods."

Matt’s Rant: Looks like I will be shopping online for a few items from Cabela’s stock rather than cruising the aisles of a new store in Wheatridge. There are some mixed feelings about this in my view and I wish there were a few extra million in the bank for me to purchase this piece of property. The views are outstanding with an onramp to I-70. Cabela’s has done most of the ground breaking as well as built in a small pond.

Cantankerous people like me cringe at any development even if it is a quality sports retailer. This is an amazing piece of land that deserves a lot better than say a strip mall but sadly I have no control over this. The land will go to the first buyer with the cash.

Link to full article from the Denmver Post below.


Cofisher said...

What somebody obviously forgot to tell Cabelas is that their store would have been at the gateway of the Rockies and trout water. Oh well, I say put in a homeless shelter.

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