It is undeniable that the global economics is passing through a bad phase and certainly the worst in the last decade. However, this has failed to demoralize the leading corporate groups in the global arena though they were appalled temporarily. Now it is found that they are gradually taking steps to restore the position but very meticulously. One of the most prominent groups happens to be the Wal-Mart Stores Inc. and with 7,390 Wal-Mart stores and Sam’s Club locations in 14 markets it is indeed confident. What is more striking and appreciable is that the group is persistent and even in this moribund market desires to invest.
It has come to the knowledge that Wal-Mart Stores Inc. is holding series of meetings with the Chevy Chase developer JBG Rosenfeld since the group is trying to open a retail and grocery store at the 16.2-acre Kings Crossing parcel along the Richmond Highway corridor of Fairfax County. What is the present situation of the place? Well, there is the presence of a Chuck E. Cheese restaurant with two additional vacancies at the shopping center at Kings Highway and U.S. Route 1. However the shopping center is at a deplorable condition. It must be stated that the position of the Kings Crossing parcel and the prospects of profits have made the corporate body keep an eye on it.
What are the plans hence? According to the plan, which has been learnt till now, Wal-Mart would occupy 80,000 square feet. Well, the Chuck E. Cheese would definitely be compensated and be relocated to the north end of the property. This indicates that there would be the presence of a 10,000-square-foot space in between. It has been decided that this area would be leased to any tenant in future. Now will the new project be the continuation of the quondam concepts?
According to the company insiders this project is going to be the testimony of company’s new thoughts. It will comprise 50 percent grocery offerings and sustainable building elements for instance skylights and a reflective root. It has also been heard that the company is pondering over a second phase of the project.
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