Lowes (and others) attempting to use Dark Store Theory

2,694 Views | 7 Replies | Last: 7 yr ago by The Lurker
Humorous Username
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AG
http://woai.iheart.com/articles/local-news-119078/dark-store-theory-threatens-bexar-countys-15082081/

Your thoughts?

I don't see these lower taxes being passed 100% to the consumer.

On one hand, good for stores trying to lower their tax burden to force the government to be more efficient. On the other hand, I've seen enough empty retail spaces re-used, that I don't buy the "unique" argument.
LOYAL AG
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AG
It would seem easy enough to prove. If you close a store can it be leased for another purpose or is it sold for the value of the dirt and rebuilt into something completely different? Surely there are statistics on something like that.

The above aside if I'm Bexar County I tell Lowe's we'll worry about the value of your dark store when it's dark. When it's operating the value is pretty clear to define. I'm as anti-government and anti-tax as anyone I know but this doesn't really seem that negotiable.
UnderoosAg
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Crock of 5hit that is. Good for Lowe's for fighting back on property taxes, but still. I play in the retail construction sandbox and buildings are re-purposed all the time. Turning a big box retailer into another big box retailer is one of the easier ones - physically anyway.

CoSA should call their bluff and ask if they are going to give SA to Home Depot, McCoy's, and 84.
Picard
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Remember Builder's Square? If not you can drive by the empty, abandoned buildings where they used to be.

Oh wait....silly me. They were repurposed into other stores.
Tony Franklins Other Shoe
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AG
Picard said:

Remember Builder's Square? If not you can drive by the empty, abandoned buildings where they used to be.

Oh wait....silly me. They were repurposed into other stores.

Damn, got my fading memory piqued.

Wasn't there one by behind Wonderland Mall on Crossroads Blvd?
bam02
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AG
Not sure about that one, but I am pretty sure the Home Depot at Bitters and 281 was a Builder's Square.
bam02
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And this is an interesting concept, but seems completely bogus unless there was some likelihood of these large box stores going away completely. Don't see that ever happening. Especially not for the home improvement market.
Tursiops93
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AG
If the behemoth Windsor Park Mall can be re-purposed, I don't see how any other store can say their building couldn't be.
The Lurker
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It is common for cities to work with employers to bring them or keep them in the city. Certainly questionable if that reasoning can lower their property taxes but good for them trying to lower them. They already provide a lot of various tax revenue and economic benefit to the community and local, state and federal governments already. Sales tax revenue from customers. The employees spend money, buy homes, pay taxes (sales tax, property tax, income tax) and contribute to economy. Complete scare tactic and false that this will cause residential property owners to pay more.
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