Real Estate & Property Law

Wal-Mart on the Prowl

By Alan Ackerman

Business Journal

Wal-Mart is one of several big-box stores that Gary Rappaport, CEO of The Rappaport Cos., says have expressed interest in Skyland, the Southeast D.C. shopping center he has long planned to overhaul with William C. Smith & Co. but which is mired in an eminent domain battle.

'Many of the larger big boxes have been interested in the site over the years, and it comes to be a decision based on who is ready to step up at the right time,' Rappaport said.

But with Wal-Mart, timing and cost numbers are only part of the battle. Even with District residents looking for low-cost options, Wal-Mart would likely spark concern from labor leaders.

The developer is not ‘mired' in an eminent domain case.  Rather, the developer has chosen to profit off of individual owners by utilizing the legal process and availably of condemnation to acquire the rights of ownership of the property owners who would otherwise be free to market their properties to the Wal Marts of the world.                                         

Full post as published by National Eminent Domain Blog on August 31, 2009 (boomark / email).