Originally Posted by BigMoneyJim
I just found out a couple of days ago that a back dead-end road near my apartments got connected as an inlet/outlet. I've been griping ever since I moved here that they should do that, but that was before they built the large mall that the street now connects to.
No kidding. Maybe you should raise your own rent by subletting.
Oahu has a major secondary road (Moanaloa Freeway) that used to dead-end at a major side street (Waimano Home Road). The traffic was pretty clogged up during rush hour so they extended the secondary road through a couple more intersections to end at a strip mall across from a post office in a slightly blighted part of town (Acacia Road & Kam Hwy).
A couple dozen commercial realtors & investors noted the new connectivity and said "Hmmmm..."
Today that intersection has the original strip mall with a Sam's Club (being expanded), the post office (talking about expanding), the island's newest Wal-Mart with one of the nation's largest garden centers, and a Home Depot. You can imagine what the rush hour traffic is like now, and weekends are a demolition-derby zoo!
I can understand why they needed the Wal-Mart next to the Sam's Club. The other two closest Wal-Marts on the island are five miles away (different directions) and, after all, this place has nearly a million people on 600 square miles. Big-box store growth over the last 15 years has been truly impressive.
I don't think I'd consider Wal-Mart's stock undervalued just yet. They seem to be rushing into expensive areas where others have good reason to fear treading.