Oro Valley store is of many Best Buy store closings
Best Buy has been closing stores across the nation and now the Oro Valley Marketplace store is the latest victim. It is scheduled to close March 5. "The COVID-19 pandemic delivered a brutal haymaker to America’s brick-and-mortar stores, which were already badly bruised by their online opponents." (Source)
The closing comes a time when Oro Valley Marketplace owner, Town West, is presenting plans to town council to "reimagine" the marketplace. One of the main reasons they are doing so is that in-store retailing chains, like Best Buy, are "reimagining" themselves into fewer, smaller locations with fewer in-store personnel.
Even free rent can't keep Best Buy in the Marketplace
Indeed, Town West has worked diligently to keep the this big box retailer in the fold.
Silvan told us: "Town West has been working closely with Best Buy Corporate to keep them on the site. Town West has offered reduced rent and even free rent to give time for Best Buy to remain until the re-imagining of the center starts to take hold. What we have been told by Best Buy Corporate is that this is the worst performing store in their portfolio and even with rent forgiveness, they are having to close."
Future of Oro Valley Marketplace is on the town council's radar
At this point, the Oro Valley Marketplace is looking like one of the many shabby malls across the nation. To an extent, Best Buy's exit is yet another reason why the Oro Valley Marketplace needs a reawakening.
You will have your opportunity to opine on this at the Oro Valley Town Council meeting of February 16.
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