The space that formerly housed Kmart at the corner of Fairview Avenue and Five Mile Road in Boise won’t be vacant for much longer.
Three tenants have signed leases and plan to move in next fall, said Bob Mitchell, partner and retail specialist at Thornton Oliver Keller Commercial Real Estate in Boise. The tenants are the Idaho Youth Ranch, Johnny’s Fit Club Fitness and Vector Christian Center.
The Youth Ranch is moving its store from the east end of the same shopping center.
Construction crews will remake the storefront and reshape the 80,000 square feet of interior space into smaller chunks for each tenant, Mitchell said.
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Incoming tenants each will lease 12,600 square feet. Mitchell said he is talking with businesses interested in occupying some of the remaining space, including a national franchise retailer, a regional retailer and a family entertainment business.
Maverik will begin construction of a new gas station in a corner of the store’s parking lot in the coming months, he said.
Big-box retailers like Kmart have been closing large stores as they lose sales to internet retailers. Some owners could fill vacant spaces by replacing big retailers with several smaller businesses, though that requires costly renovations.
“It depends on the landlord,” Mitchell said. “It’s not inexpensive to do this. There won’t be one program that everybody follows.”
The Idaho Business Review first reported on the new tenants moving into the former Kmart. The store closed one year ago. It was Boise’s last Kmart. The Treasure Valley has one Kmart left, in Nampa.
Zach Kyle: 208-377-6464, @ZachKyleNews