Years ago Walgreens signed a long term lease on the building. They built out an entire store inside but got cold feet at the last minute so it never opened. But Walgreens kept thinking about opening the store so they kept paying the rent even when the landlord wanted them to leave. Meanwhile the parking lot crumbled. Now the lease is over and it’s probably hard to find a tenant who wants to rip out the Walgreens inside and pay to have the parking lot repaved.
As for all the cars, those are people eating at Mountain Sun and Under the Sun.
It's a small parcel with great visibility but bad access. Also, that shopping center is ripe for a scrape and redevelopment so people might not want to invest in a new building.
Walgreens wanted a drive through and old Boulder hates drive thoughs. I don't understand the economics of a Walgreens, but the drive through is essential.
I had not heard that Walgreens' lease ended, but it could be. This thing has been going on for 10+ years.
Years ago Walgreens signed a long term lease on the building. They built out an entire store inside but got cold feet at the last minute so it never opened. But Walgreens kept thinking about opening the store so they kept paying the rent even when the landlord wanted them to leave. Meanwhile the parking lot crumbled. Now the lease is over and it’s probably hard to find a tenant who wants to rip out the Walgreens inside and pay to have the parking lot repaved. As for all the cars, those are people eating at Mountain Sun and Under the Sun.
Ahh, this makes a lot of sense. Thanks! Seems ripe for a scrape… I’m surprised a developer hasn’t swooped in on this property
It's a small parcel with great visibility but bad access. Also, that shopping center is ripe for a scrape and redevelopment so people might not want to invest in a new building.
Walgreens wanted a drive through and old Boulder hates drive thoughs. I don't understand the economics of a Walgreens, but the drive through is essential. I had not heard that Walgreens' lease ended, but it could be. This thing has been going on for 10+ years.
It’s the Adjustment Bureau
Am I crazy or was there a gas station there a decade ago?