Walmart losing hard-fought ground by delaying announcement of NYC location

New York /
Jan.January 30, 2012 08:30 AM

If Walmart is going to make its long-awaited move to the city, it better act fast, Crain’s said.

The retail giant’s public relations campaign, led by a $4 million donation last July that saved the Summer Youth Employment Program, has helped score points with politicians, including Mayor Michael Bloomberg, and make the public far more amenable to the prospect of a Walmart in New York.

But concerns linger, including the pressure Walmart would put on independent grocers and the wages it would offer, and many of the leading candidates to replace Bloomberg in two years still oppose a store.

Walmart needs to announce its first location now, lest it become a focus of those campaigns.

Crain’s said the store is now in “advanced lease negotiations” with the Related Companies for a 150,000-square-foot store in its Gateway II center in East New York. But a deal of that size takes much negotiation, especially since Walmart must find a way to thrive on the city’s expensive real estate without charging higher prices. Walmart officials say they are looking for the perfect location and don’t want to rush their entry into the marketplace. [Crain’s]


Related Articles

arrow_forward_ios
Related's Jamar Adams and Steve Ross with 14-06 Gateway Boulevard (Credit: Getty Images and Google Maps)
Related is the latest developer to target the Rockaways
Related is the latest developer to target the Rockaways
Stephen Ross (Getty, iStock)
Stephen Ross puts $500K into PAC. Where’s the rest?
Stephen Ross puts $500K into PAC. Where’s the rest?
(Getty, iStock)
McDonald’s to shutter hundreds of Walmart outposts
McDonald’s to shutter hundreds of Walmart outposts
Related Companies chairman Stephen Ross and Kara Ross (Getty)
Stephen Ross, wife to divorce after 18 years
Stephen Ross, wife to divorce after 18 years
Related's Stephen Ross and Jeff Blau (left) with 15 Hudson Yards (Getty, Hudson Yards)
Related’s 15 Hudson Yards lands $108M condo inventory loan
Related’s 15 Hudson Yards lands $108M condo inventory loan
David Chang (Getty)
Momofuku Kāwi and Peach Mart close in Hudson Yards
Momofuku Kāwi and Peach Mart close in Hudson Yards
From left: Stephen Ross, Andrew Yang, Eric Adams, Kathryn Garcia and Shaun Donovan (Getty)
Real estate plots to prevent second de Blasio disaster
Real estate plots to prevent second de Blasio disaster
(iStock/Illustration by Kevin Rebong for The Real Deal)
Office landlords offer amenities to reel in employees
Office landlords offer amenities to reel in employees
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...