Jo-Ann Fabrics considers former Gander store
Posted: August 8, 2008
TBL has learned that Hudson,OH-based Jo-Ann Stores Inc., which operates 774 Jo-Ann Fabrics retail stores in 47 states, has signed a letter of intent to lease a large portion of the former Gander Mountain building at 4045 Commonwealth Ave., Eau Claire. Gander Mountain vacated the facility this past May as it expanded into its new store, which is located south of Interstate 94 and to the east of Highway 53.
Remodeling plans submitted to the City of Eau Claire by Dean Larsen, owner of Acquisition Realty & Development, and Architect Bob Johnson, indicate that Jo-Ann Fabrics will lease nearly 23,000 square feet of the 31,600-square-foot complex.
"We have submitted plans and have reached a tentative agreement with a tenant, but nothing has been finalized yet," said Larsen, who co-owns the former Gander Mountain property as part of Larmun Properties, LLP.
Jo-Ann Fabrics is the nation's largest specialty retailer of crafts, sewing products and other home decor items. The company will likely develop one of its small-format stores in Eau Claire, which will feature a complete selection of fabric and floral and finished seasonal home decor merchandise, according to the company's web site. The firm's corporate profile indicates that its small-format stores generate net sales of approximately $1.5 million per store annually, based on 2008 figures.
Jo-Ann Stores Inc. Spokesperson Lisa Greb was unavailable to comment on the potential lease agreement prior to TBL deadline. TBL