Property Lines - Scott Olson

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Real Estate & Retail

Retail woes continue with Cabela's

February 1, 2008

Cabela’sBanking on the regional draw of outdoor retail giant Cabela's, developers have been planning more than 100 acres of hotels, a water park, restaurants and other retail space for the southwest corner of Interstate 65 and County Line Road. All that changes now. The Nebraska-based retailer has put the proposed Greenwood store on hold indefinitely, thanks to a rough quarter and a bleak economic outlook. “It’s a big blow to Greenwood,” said Mark Perlstein, a partner with locally based Sitehawk Retail Real Estate. “It takes a huge amount of momentum away from that intersection.” The decision comes on the heels of local retail closings, followed by more closings. And Perlstein says more could be coming: Pier One plans to close about 100 stores nationwide; Ann Taylor is looking at closings; and grocery chain Supervalu is closing its Sunflower Market chain, including its store in Broad Ripple. Read more on Cabela's here and here.
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