Monday, August 07, 2006

Albertson's Update

Friday, August 4th was the due date on the bids for the sublease on Albertson’s. There are 13 years remaining on the lease. I spoke with Terranomics, the real estate marketing firm, and they have been marketing 14 Albertson’s in the Bay Area. They are now inundated with bids and conference calls, and I was not able to receive any new information, but was directed to check back in a week. I had received an inquiry a few weeks back from Mill Valley Market which expressed an interest in the property. The Town has been expressing to the property owner, the leaseholder and the real estate firm that we are not in favor of the property sitting vacant for any period of time and we are very interested in a use of the property that best meets our residents’ needs. I will keep you posted with any new information I learn about the Albertson’s site.