FOURTH ANCHOR STORE `ON HOLD' AT MALL HERE

(First of two in series)

CAPE GIRARDEAU Sears Roebuck & Co. was to be celebrating its 50th anniversary of operating in Cape Girardeau by opening the doors of a new store in West Park Mall this spring. And West Park Mall was thinking of celebrating the opening as part of its 10th anniversary observance.

It didn't happen.

Since the announcement in December of 1989 that Sears would relocate from its Town Plaza site to the mall, the plans have taken another fork in the road. Officials with Sears and West Park Mall have said publicly that while the project has not sunk, it is almost "dead in the water."

"It is on indefinite hold," said West Park Mall manager Rollin Hunsicker. "It is not a question of not happening, rather more of a pause in the consideration."

"If Sears decides to expand in this area in the future, we'll be the logical choice."

The department store would have been the fourth anchor store in the 600,000 square foot mall.

Sears officials in the company's Chicago headquarters confirmed Hunsicker's report.

"We are putting it aside for the moment," said Sears real estate director for this region, Peter Ellison. "The plans have not been dropped. We will monitor the local and overall market and the economy." He said the economic health in the Cape Girardeau would be considered as a factor in the decision.

Ellison's Midwest territory includes Southern Illinois, where Sears is vacating Cardondale's University Mall and re-opening in the new $165 million Illinois Center at Marion August 1. He said Sears is continuing with its relocation plans there, in contrast to Cape Girardeau, due to different circumstances in Southern Illinois. He would not elaborate on specifics.

The proposed new local store here was proposed in the southeast quadrant of the mall, between Famous-Barr and Venture. Plans called for it to be connected to the existing building, with access through the corridor that passes Pind's Jewelry and Tantrum's Pub and Grill. No decision had been made if Sears was to lease or purchase the property. Hunsicker said Sears both leases and purchases property in other shopping malls, showing no preference for one method.

Hunsicker acknowledged that in the last communication with Sears, the retailer asked if the mall could accommodate an 80,000 square foot store. In the original plans, Sears outlined a 64,000 square foot building.

Ellison said the proposed change was due to many reasons, including the company's new philosophy to increasing the minimum size of its stores. Local store manager Jack Watts indicated the expanded size was in part due to the new marketing strategy to diversify its lines of merchandise, which required more floor space.

The present store in the Town Plaza has 37,000 square feet of showroom space and 23,000 square feet devoted to warehousing, offices and stockroom for a total of 60,000 square feet. It was built in 1963, shortly after the Town Plaza opened.

The store was remodeled a year ago when Sears initiated the Brand Central merchandising concept, Watts added.

The building site at the mall may not go unused. May Centers, the manager partner of West Park Mall, is conducting an ongoing search for a fourth anchor store, Hunsicker said. Whatever company signs the contract would use the same site. "The door remains open with Sears," he said. "Down the road we hope it goes through."

Hunsicker acknowleged the current recession may delay a decision by a major retailer to open a new store as they scrutinize consumer shopping trends.

Inking the contract for the fourth anchor store will probably culminate major expansion at the mall. "A fifth anchor store may not be possible due to the limited amount of land area available now to meet parking space requirements," he said. The mall is located on a 65-acre site, bounded by Route K on the north and Silver Springs Road on the east.

Sears recently slipped from its number one ranking in retail sales volume, yielding to Arkansas-based Wal-Mart.