Commercial Real Estate and Retailers and Retail Development and Retail and Real Estate & Retail

Cabela's revs up expansion, but leaves Greenwood off list

May 10, 2010

Cabela’s has snubbed Greenwood—again.

The Nebraska-based outdoor retailer is once again working to open new stores after a two-year, recession-induced halt on expansion. But, even now, Greenwood is still off the company’s list, according to the Daily Journal of Franklin.

Cabela’s spokesman John Castillo told the newspaper that Cabela’s has no intent in reviving its project in Greenwood. As IBJ reported in October, the 96-acre parcel Cabela’s owns in Greenwood is up for sale.

The 125,000-square-foot store was supposed to anchor a development spearheaded by Cabela’s that involved at least two hotels, a water park and upscale restaurants. The land is near Interstate 65 and County Line Road.

But, in February 2008, Cabela’s put store expansions around the country on hold, including the Greenwood location. Then, in July 2009, it canceled the Greenwood project altogether.

Now Cabela’s will open a new store in Colorado this month, and plans another one in Oregon next year, according to the Daily Journal. It also wants to build two stores in Canada by 2012.

“It’s a bit of a letdown that they’re opening stores elsewhere but not looking here,” Greenwood Mayor Charles Henderson told the newspaper. The city of Greenwood had approved $18 million in bonds to help finance the Cabela’s store.

Castillo told the Daily Journal that Cabela’s is now trying to open smaller stores, which the company found can generate as much in sales as larger stores without the higher costs of additional land, construction and staff.

He said Cabela’s determined the Greenwood project did not have enough potential under the company’s new strategy.
 

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