Since the first of the year we've had notification that Montgomery Wards will be closing and for the metro Phoenix area that means SIX stores all of which are in large shopping centers. Yesterday and today I've got reports of Office Depot which is closing SEVEN stores and Sears which is closing ONE store.

When we said this past Christmas was make or break for the internet retail industry we should have included the entire retail industry.

Also, a lot of the minor independent movie theaters are sitting empty now which also adds up to a HUGE number of unleased square footage. On the other hand, the metro area is still building like crazy.

I guess the biggest beneficiaries will be Walmart, Target and the remaining retailers. Survival of the fittest, worthy of prime time television. I forgot to mention one of our large video rental chains also succumbed to competition as well, Video Update.

I believe Walgreens and Osco are overexpanding and eventually one of them will suffer tremendous losses as well just like Circle K. Oh yes, Home Depot crushed another local building material company called Payless Cashways. They are closing about six around the metro area. Hey, America, we've got a lot of retail space freed up, here in Phoenix, come and get it!!

-- Guy Daley (guydaley@altavista.com), January 04, 2001