Former K-Mart building in CF to be sold
Posted: October 21, 2016
The former K-Mart building in the Chippewa Falls Commons Mall, however Gordy's Market is selling the shopping center that is located at 303 E. Prairie View Road. The shopping center was purchased from Agree Realty Corporation in December, 2014. The Schafer family, which purchased the building from Agree, owns all of the Gordy's locations, had invested about $3 million to open the new grocery store and purchase new equipment.
"Basically, we're going to be selling the Chippewa Commons strip center. We plan to develop it and sell it. We've got three parties of interest. We should know more once we get everything from the city. There are two separate parcels and we have to get an exception to the lot line," said Gordy's Market Chief Financial Officer Dave Schafer, who spoke before the Plan Commission this past Monday night.
The Plan Commission has set a public hearing for November 7th to split the property into two parcels. The K-Mart building is an 86,479-square-foot anchor store that closed in May, 2014.
Last fall, Gordy's reached an agreement with Premium Waters to allow the bottling company to use the K-Mart space for storage. The City of Chippewa Falls signed off on that agreement and the deal went into effect in January. TBL