Does anyone have experience in a situation where a new super walmart was built in the same town as their park.
I know this is a tremendous asset.
How long after the super walmart was built did the town start to expand and really develop,
Other strip malls built, other national chains come to town etc…
I know it’s different in every circumstance…
Just wondering about others experience
Although a Walmart may be a good sign, I’m not sure that means many more stores will necessarily follow right after. The Walmart may actually force some stores to close. That’s what happened in my town. We had 2 grocery stores and one closed down. So did the old time local pharmacy. Best wishes
Thanks, for the reply. Was the supermarket that went out part of a chain or independent.
I am thinking that other national chains would follow suit and take advantage of the traffic Walmart generates.
As an aside, as a former independent pharmacy owner, I can tell you that there could be many reasons why the store closed.
Actually Walmart is a tremendous benefit to that type of business as it draws tons of people to the area. As good as Walmart is their customer service and level
Of competency for employees I have seen has a lot to be desired.
We have had several parks where new Wal-Marts opened nearby. Normally, the first thing that happens is that they build a Dollar General or Dollar Tree nearby, along with some fast food. What you see next is a changing of the guard of where the hot retail area of town is. Slowly, it begins to develop around the WalMart, due to all the traffic that WalMart creates. The old retail area of town dies out over time. It can completely destroy the old down town area, for example, and move it out to the Interstate (if that’s where the WalMart is). WalMart is not clueless on this fact – that’s why they often buy all the land around the WalMarto so they can profit from this development fact of life.
Thanks Frank.
That seems to be exactly what’s happening. The adjacent land parcels are for sale. It’s exciting for me to watch it all develop.
Walmart, like any national chain, has done a ton of research in the process of determining where to open their next store. While it does cause some operations to fold up, if you looked at those operations books you might find they were marginal anyway. There may also be some opportunity for path-of-progress investing piggybacking on Walmart’s expansion plans. In any case, the city council approves those decisions and most council mtgs are open to the public. Walmart’s whole deal is low prices, so they’re not going to be hiring top flight employees, at least not front line employees. From an MHP perspective, a Walmart store would be a big plus in my opinion.
Jim Allen