One of the more promising rumors in the mill surrounding the World Market closure at North Pointe has been the report -- raised here at BCR, and also on the Watts-Hillandale listserv of late -- that the Oakland, Cal. purveyor of furniture, soft goods and foodstuffs lost their lease at the big-box center off of Guess Rd., and that a new tenant would be taking their place in short order.
Unfortunately, that doesn't seem to be the case.
Stan Lisle of the Cary-based commercial/retail leasing firm Retail Rep told BCR via email this week that the closure decision was the retailer's, not North Pointe's. Lisle noted that most national retailers have been faced with economic pressures from declining sales in the current financial situation.
According to Lisle:
We tried to work with them, in order to get them to stay. But ultimately, they decided that it was in their best interest to close that store. We were very disappointed.
We are trying to find a replacement tenant that will compliment our tenant mix, and help fill the needs of north Durham. North Pointe is a great shopping center, and we are confident that we will find that tenant very soon.
So, all you folks speculating on Trader Joe's -- sorry, but that's not the reason why World Market's leaving. (In any case, TJ's typically fills slots of 10,000 ft. or so, vs. the 18,000 sq. ft. that North Pointe will leave behind, though we at BCR wouldn't frown on Trader Joe's coming in to the Bull City.)