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Article: Safeway, Wal-Mart vie for empty Target in El Cerrito
- Article from:
- Oakland Tribune
- Article date:
- May 24, 2009
- Author:
CopyrightCopyright 2009 Oakland Tribune. Provided by ProQuest LLC. (Hide copyright information)
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The city of El Cerrito now has two retailers interested in
filling the empty Target site near Del Norte BART -- Safeway and Wal-
Mart -- and are continuing to shop around for other options.
After Safeway announced last week that it had reached an
agreement with Target to purchase the site for $20 million, the city
revealed Wal-Mart is also interested in the property, and wants the
city to exercise a repurchase option spelled out in their
redevelopment agreement with Target.
Wal-Mart is "willing to pay us $20 million to exercise our option
on their behalf," said Lori Trevino, El Cerrito's redevelopment
manager. "They said we can keep the difference between that and what
we buy it for. They ...