REAL ESTATE

Meridian Plaza launches tenant referral program

BY CSA STAFF

Bellingham, Wash. Mall owner Hackman Capital Partners said Wednesday that its Meridian Plaza has launched a new Tenant Referral Program, a refer-lease-and-earn campaign that promises $2,500 cash for each referral that results in a three-year lease at the newly renovated retail center located in Bellingham, Wash.

The new Meridian Plaza Tenant Referral Program was designed to complement an existing sister program geared to area real estate brokers. The broker program offers leasing bonuses, also $2,500, for each referral that results in a three-year lease, plus $50 bonuses for each property showing.

A recent makeover to the center, which totaled nearly a half-million dollars, included a new brick and stucco facade, newly designed storefronts with canopies and fabric awnings, a newly resurfaced and restriped parking lot with wheel stops, sidewalks with new concrete benches, new monument signage, lighting, painting and other improvements.

The current tenant roster includes Rent-A-Center, Red Wing Shoes, Maly’s, Better Nails, Hair 4 You, Thai House Restaurant — and two free-standing restaurant sites, occupied by Burger King and Denny’s Restaurant.

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REAL ESTATE

Wal-Mart debuts in-store clinics in Maine

BY CSA STAFF

Bangor, Maine Wal-Mart Stores said Monday that it opened its first in-store health clinic in the state of Maine on Monday, at the recently opened Stillwater Avenue Supercenter in Bangor.

Additional clinics will open in coming months at stores in Brewer, Palmyra and Presque Isle.

Although Wal-Mart has in-store clinics in many other states, the four northern Maine clinics announced Monday are the first in Maine.

In Bangor and Brewer, the 680-sq.-ft. clinics will be run by Eastern Maine Medical Center through its Norumbega medical practice affiliate. In Palmyra and Presque Isle, they will be operated by Brewer-based Eastern Maine Healthcare Systems, through local affiliates Sebasticook Valley Hospital and The Aroostook Medical Center, respectively.

Acute-care services available at Wal-Mart clinics are limited to the treatment of relatively simple problems such as colds, earaches, sore throats, and minor burns and injuries.

At Supercenters in Brewer and Palmyra, clinics are on schedule to open in January. The Presque Isle Wal-Mart clinic is expected to open in December.

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REAL ESTATE

Readers Speak Out: When do you envision stabilization and what is your outlook on the future of malls?

BY CSA STAFF

The Oct. 22 edition of SiteTalk invited readers to comment on when to expect stabilization of mall vacancy rates. Here is what one of our readers had to say.

“The severity of this recession won’t be seen until year end sales are reported by America’s major chain stores, which of course will happen right after Christmas. I expect that within the next nine months this ‘recession’ will be called a ‘depression,’ but to know this you have to understand the extent of fear that prevails in the average shopper’s mind, and that fear isn’t going away, or even subsiding.

Icould go on and explain, but the rate of vacancy across the nation will continue to grow, and I believe at an even accelerated pace after year end sales are reported.

Our nation has had a good time for way too long, and now it’s payback time.”

— Stanley Schuckman Schuckman Realty  

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