A drill was auguring some holes in the parking lot of a local mall on Thursday. The supervising white hat said she was a biologist and they were doing due diligence.The site is close to an excavation the city did to repair sewer lines recently and a test well for the ministry of environment is in the next block.

There was a rail line where the parking lot now is and some light industrial applications at one time . No release on what for, other then due diligence, which could mean a buyer is interested in the property. As malls inventories are coming under scrutiny as Target prepares to come to Canada and  take Zellers stores over. Some mall developers  are noted as saying that closed malls bring more tenants as people tend to shop at all stores rather parking in front of one particular.This mall is a open mall that has a large lot undeveloped since its buildings were removed to make the property a consolidated large lot.

American malls are stated as being over built and Target is considered to be a better competitor for Wall Mart and Canadian Tire then Zellers was.That would be an advantage for the consumer.The industry is a volatile and driven one in  the US. Zoning restrictions and longer development process make for a more stable industry in Canada.

editors note: Speculation can be dangerous , when development comes it gives an increase in property values making  investing lucrative and dangerous. As well many small activities may never develop into a boom.And even press releases are forgotten over time if developments do not come on stream…. Working people are often not able to invest with the information given to them..be wise and be carefull.

Happy Labour Day from Proprietor Review 

Today in history,Sept 2 ,1935

Labour Day hurricane kills over 400 people in Florida.