Potential tenant(s) consider former Kmart site
Posted: March 12, 2015
TBL has learned that at least one large retail tenant or possibly a number of smaller tenants are considering whether to open a store in the vacant Kmart facility located at 2424 E. Clairemont Ave., Eau Claire.
According to Commonweal Development Corp. President Stuart Schaefer, whose company is a co-owner of the 90,000-square-foot retail complex with Eau Claire Consumers Cooperative Association (the parent company of Mega Foods and Mega/Holiday), no announcements can be made at this time.
"We never announce tenants before they make the announcement themselves, but we are looking at a number of potential tenants. We have plans being developed for a variety of options for either a single tenant of multiple tenants. Currently, we are looking to reuse the existing structure, but the building could be expanded or reduced depending on the tenant," said Schaefer, who added, "We hope to have something to report in the next two months."
Daily traffic counts along East Clairemont Avenue exceed 25,000 vehicles per day, according to Schaefer, who added that the potential tenant(s) would likely be retail users.
"We have had some discussions with non-retail tenants, but we expect the property will be developed for a retail user," he said.
Kmart, which closed the Eau Claire store in February, 2015, closed its operations in Chippewa Falls and Menomonie in May, 2014.
The principal owners of Commonweal Development Corp. and Consumers Cooperative Association purchased the Kmart building from Eau Claire Shopping Center Limited Partnership, d/b/a Eau Claire Associates L.P. for $3.8 million in August, 2009. TBL