Development over Landfill – Box Tenant Merger Impacts – Tenant Category Rank – Competing Market and New Entrant Impacts on Demand

Albertsons Greenway & 19^th

^{Purchase effort to acquire 65K sf anchored by a 43K sf Albertsons while chain was being split and sold to Super Valu and Cerebus, dramatic going concern issues for Albertsons chain when 19 stores in Metro Phoenix were scheduled for closure, Anchor ranked weak against competitors in Metro Phoenix, foundation failures from landfill manifested in wall separation and parking lot failures, Target introduced its 150K sf superstore concept that year into subject market less than 1.5 miles east of subject, unqualified fix on structural instability ultimately aborted acquisition efforts, huge shop tenant failure risk on prospective vacant anchor – terminated investment pursuit and witnessed concerns materialize over the years that followed: Albertsons did in fact close years later, 14,000 sf of 42,000 Albertsons was backfilled with Fresh & Easy that also ultimately failed –value of discretion and discernment was validated.}