Report: Lowe’s pulls out of Northern California site
Lowe’s has opted to pull out of a plan to build a 138,000-square-foot store in Rocklin, Calif., according to a report in the Sacramento Bee.
“Increased costs” associated with architectural demands of the city’s planning commission were cited as a reason for the move, according to the report.
The developer of the property, Paul Petrovich, told the newspaper the requirements “busted the budget” associated with building the store. The retailer had earlier this month sent him a letter canceling plans on the site -- a Lowe’s spokesperson told the newspaper that the retailer indeed had to “re-evaluate our plans” due to cost factors.
In related news, Lowe’s announced it would open a new store in north Nashville, Tenn., in the fourth quarter of 2008. The 117,000-square-foot location is set to include a 31,700-square-foot garden center.