Wal-Mart has trouble securing an extension to build Iowa Supercenter

Despite their success in Michigan in building of a new Wal-Mart Supercenter, the folks in Bentonville are not having similar success in Iowa. Iowa City Manager Steve Atkins is pleading with the Iowa City Council to deny a request -- a third request -- from Wal-Mart to extend its purchase agreement with the city in preparation for building a new Supercenter in South Iowa City.

With the Iowa State Supreme Court being sent a message from the opponents of the planned Supercenter, Wal-Mart wants to extend the purchase closing date by another 30 days or so (again, it's third request for an extension) for some unknown reason. Perhaps it wants to keep the parcel of property in question "open" as needed so that it is at least "secure" from other purchasers for the time being.

I can see Iowa City's argument here from this side: Keeping the property -- a little over 21 acres -- off the market while waiting for closing keeps other potential buyers from possibly purchasing and closing much sooner on the property than Wal-Mart would. In this case, and on this basis alone, I agree with Iowa City's opposition -- money talks and those who wait, should walk. Wal-Mart, if you really want this property for development, close and move forward.