something new? not in demopolis al.

10-15-2003

A lot of comments are made about Demopolis and how we would like to see it grow. Demopolis will never grow like our younger generation wants it to for one simple reason. A lot of corporations look at Demopolis to locate their business but say they can't afford property here. According to Clint Connell , Wal-Mart real estate buyer for Alabama , Wal-Mart would have built a supercenter here in Demopolis but land values here were to high. Connell said Wal-Mart could buy property in Tuscaloosa, B'ham and even Atlanta Ga. for what property cost here. Wal-mart looks at every investment dollar, right down to what it cost to buy paint to stripe the parking lot. Connell said that dollar for dollar they could spend the same money, build the same store in Tuscaloosa or B'ham and know the market area in those cities would bring in more dollars than here in Demopolis. Why would they spend $100,000 for an acre of land in Demopolis when they can spend less than that in a much bigger city knowing the return there would be much greater. Wal-Mart needs between 20 and 30 acres according to Connell for a supercenter. Maybe someone in Demopolis who would like to sell some property to Wal-Mart should call Clint Connell.

Jeff · 10-15-2003

Bill Mackey listed (recently sold) 7 acres of land on HWY 80 for $110,000. Comparing that to Tuscaloosa, Pritchet Moore lists a VERY small lot, just large enough for a small coffee shop and it sells for $150,000. And that is just on University BLVD. There is no telling what McFarland BLVD land would go for!!

I don't see how the land in Demopolis can possibly be going for more than that of T-Towns or Birmingham's.

10-16-2003

I don't think Wal-Mart is talking land prices compared to bigger cities only. They are looking at land prices and market area compared to the return on their investment dollar. Comparing land prices in Demopolis to Tuscaloosa is not the whole picture. Land prices here are to high , according to Wal-Mart, based on what they will get for their investment.

rob · 10-16-2003

People love their land around here,I think,a little too much.I've seen where an acre in Gallion was going for $4500.I can buy land for that price in Foley,Al.(And be closer to the beach.)

dave · 10-16-2003

	Quote:
	Connell said Wal-Mart could buy property in Tuscaloosa, B'ham and even Atlanta Ga. for what property cost here...Why would they spend $100,000 for an acre of land in Demopolis when they can spend less than that in a much bigger city

Acccording to you, Clint Connell thinks the land is actually cheaper. My understanding is the choice to go with the "Hometown Wal-Mart", which is actually worse than what we had proir to that, was made my the City of Demopolis. Understanding that the foks at Wal-Mart know better than anyone how to make money, why would they buy the "expensive" land and build a new, smaller store when they were doing fine where they were already at? Especially considering they had just remodeled the old Wal-Mart. If they were hindered by land prices, it made no sense to build a new store.

Jeff · 10-16-2003

Exactly. I do believe though, if I am not mistakern, that Wal-Mart bought enough land in the beginning to have a supercenter, but later sold the unused land just like the land where Pizza Hit is now. Just doesn't make good sense to mess up something you already had, unless you were going to make something much much better.