Kohl's delays project

September 7, 2012 03:09 PM
kohls
 
 City officials were notified recently that Kohl's has further delayed its project in Galesburg.   Mayor Garza stated, "Kohl's shared with me they have reduced the number of annual store openings down to 12 across the nation for 2013 and that it was not the right time for them to open the Galesburg store.  We were all looking forward to seeing the new Kohl's store open soon and we're understandably disappointed by the delay. However, we will continue to work with Kohl's to realize this opportunity as well as continue to work with other retail development interests that are attracted to this area."
 
Michael Patterson, the Director of Development for Horne Properties who sold the 4.65 acre site to Kohl's expressed similar disappointment.  "We have been making steady progress with our Seminary Square Development in Galesburg.  Recently, we added the Toyota dealership and US Cellular.  The delay on the Kohl's project will set us back a bit, but we are moving forward with other retail projects that are in the works.  This decision by Kohl's does not appear to be a direct reflection of the Galesburg market.  I believe it has to do more with the overall volatility and uncertainty within the U.S. economy."
 
Research conducted by the city's Economic Development Department showed there were at least five other Kohl's stores that were delayed in 2012 including Shorewood and Danville, IL, Greenfield, IN, and Houma & Slidell, LA.  In addition, Kohl's anticipates opening 20 stores in 2012 compared to 40 store openings in 2011. 
 
"There's been a lot of shuffling in the national retail market place since the great recession," said Cesar Suarez, Economic Development Director.  "Retailers have reduced their store openings and new stores are designed with smaller footprints.  This has resulted in slower development and higher vacancies.  In suburban Chicago, vacancies are up 45% compared to pre-recession times."
 
 

 

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