VALDOSTA — Despite local lobbying to prevent the discount retailer from leaving town, Super Kmart is closing its doors for good on April 15.

Although Valdosta will miss the discount retailer, the property is in a highly desirable location and is already attracting attention from retailers and restaurant companies.

Kmart still has an estimated 25 years remaining on its lease on the 170,000-square-foot property at 1106 N. St. Augustine Road, but it is expected that the bankruptcy court in Michigan hearing the company’s case will allow the lease to be set aside and the property to revert back to the owners once it is vacated.

Decron Properties of Van Nuys, Calif., a REIT (real estate investment trust), purchased the property three years ago and has retained local commercial broker Gary Minchew to represent the company in future transactions.

“They are good, aggressive marketers. They could just sit back, collect the rent and let it stay vacant for awhile, but they are very interested in getting someone in there to replace the jobs and and keep sales tax flowing into the community,” Minchew said.

The entire property is worth an estimated $11 million. As the size of the building and the multiple acres are much larger than most retailers want or need, the most likely scenario is that several restaurants and retailers will end up occupying the property, including outparcels directly on St. Augustine.

Minchew said at least three popular national restaurant chains have expressed interest in the property, in addition to several large retailers, and he is optimistic about the chances of bringing in new businesses to Valdosta.

He also confirmed that all top 10 of the businesses from the “Business Wish List” that The Valdosta Daily Times readers voted for in November have been contacted.

Hundreds of readers voted in the newspaper poll, selecting the following 10 businesses as the ones they most wanted to see come to Valdosta — Olive Garden, Dillard’s, Old Navy, Chili’s restaurants, Lowes, Joann Fabrics , TGI Friday’s, Dunkin’ Donuts, Macaroni Grille and Kroger.

It would take an estimated six to 12 months for a retailer or restaurant to build on one of the outparcels or renovate a portion of the building once an agreement is reached and a letter of intent is signed, so the earliest the city might see a new business would be after the first of the year.



To contact Business Editor Kay Harris, please call 244-3400, ext. 280.