Trader Joe's Fans: Cross Your Fingers

From this week's Pat Kernighan's newsletter about the old Albertson's on Lakeshore:

Finally, some progress is being made toward getting a food store at the vacant Lakeshore Albertsons. About three weeks ago, the lease owners, Sansome Pacific, and the landowners were successful in re-negotiating the terms of the lease to eliminate the percentage rent formula. This change in the lease terms now makes it financially feasible  to lease to a food store. As I have written about before, the percentage rent had been a major barrier to getting the kind of tenant the neighborhood wants. All of you who e-mailed letters to Sansome Pacific earlier this summer in response to my e-mail alert should pat yourselves on the back. It was the overwhelming community response to the proposed drug store that catalyzed their willingness to amend the lease. Negotiations are now underway between Sansome Pacific and several desirable tenants and I am optimistic that they will have good news to report in the next couple of months.

This is really significant news and is very exciting because it may very well mean that our campaign to get a Trader Joe's to move in may actually bear fruit.

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