Pine Tree Shopping Center (Portland, ME) loses two more tenants

[retailisking]

In recent weeks Chapter 11 Furniture and Little Caesars Pizza have vacated. The LC storefront is covered in kraft paper and the notice on the door says that they are looking for a new location. There are plenty of empty storefronts in the immediate vicinity if they are interested...

[giantsfan2016]

In recent weeks Chapter 11 Furniture and Little Caesars Pizza have vacated. The LC storefront is covered in kraft paper and the notice on the door says that they are looking for a new location. There are plenty of empty storefronts in the immediate vicinity if they are interested...

I call BS on the whole "looking for a new location" thing. When Ruby Tuesday is Southington, Connecticut closed in January 2015 the local newspaper said they hope to find another location in Southington someday. Meanwhile in the 25 months since they've closed several other Ruby locations in Connecticut have gone "toes up."

[Zayre88]

I have never visited that Chapter 11 location but Chapter 11 was not a "prime" tenant for that center.

Funny, on the website of NE DEVELOPMENT, the site plan does not even show the building where Big Lots and Dollar Tree is located.  They overlapped it with a site plan of the smaller, newer retail buildings in front of Lowe's.

It looks as if the older part of the center is not even owned by them...

[retailisking]

I have never visited that Chapter 11 location but Chapter 11 was not a "prime" tenant for that center.

Funny, on the website of NE DEVELOPMENT, the site plan does not even show the building where Big Lots and Dollar Tree is located.  They overlapped it with a site plan of the smaller, newer retail buildings in front of Lowe's.

It looks as if the older part of the center is not even owned by them...

Pine Tree Shopping Center is owned by Brixmor
http://properties.brixmor.com/cre/commercial-real-estate-listings/portland/maine/pine-tree-shopping-center/overview

[retailisking]

I call BS on the whole "looking for a new location" thing.

I have my doubts as well. They have another location across town at Northgate Shopping Center (a more upscale center with a higher occupancy rate) but I have no idea how they are doing overall. Business was down substantially at the Pine Tree location as center vacancies escalated. The LC exit empties three storefronts at the far right of the center (a ethnic market was announced for the space next door, and prep work got underway, but it never opened.) The Key Bank all the way to the right closed a year ago.

[Zayre88]

Pine Tree Shopping Center is owned by Brixmor
http://properties.brixmor.com/cre/commercial-real-estate-listings/portland/maine/pine-tree-shopping-center/overview

Oh your right!  They NE only redeveloped it !

[TheFugitive]

Isn't the Pine Tree Shopping Center where WKRP dropped the live turkeys?