Arc agrees to leave Foothills Mall

After months of uncertainty over its fate, the Arc Thrift Store has reached a deal to move out of the Foothills Mall, it was announced Thursday.

“We are excited to announce that we have worked out a mutually beneficial agreement that maintains Arc’s presence in Fort Collins,” Don Provost, a principal in the firm planning a multimillion-dollar rehabilitation of the mall, said in an emailed statement.

“We are still working with them to secure an alternative location but I think we can all agree that this is wonderful news for the entire community,” he said.

Arc President and CEO Lloyd Lewis told the Coloradoan newspaper that Alberta Development Partners agreed to help with relocation costs.

Alberta wants to move the 30,000-square-foot store out of the mall because, it has said, it doesn’t fit in with plans for a higher-end shopping center.

The company has yet to reach an accord with another retailer it would like to see go: Sears. Their impasse has raised the possibility that the city will evoke eminent domain.

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Molly Armbrister covers real estate, banking and health care for the Northern Colorado Business Report. She can be reached at 970-232-3139, marmbrister@ncbr.com or twitter.com/MArmbristerNCBR
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