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Shuttered Kmart in Zion Will Become Self-Storage
Colliers International | Chicago’s Patrick Turner and Brendan Green represented JSM Venture Inc. in the $2.3-million acquisition of a vacant 90,426-square-foot former Kmart in Zion, IL. Led by Charlie Mengel, JSM will convert the building into an indoor self-storage facility with 69,750 rentable square feet.
“Given the rise of e-commerce and its impact on retail shopping habits, there is now a surplus of empty big box retail stores,” said Turner. “Many of our clients, like JSM Venture, are looking at alternative uses to fill these vacancies.”
Sears Holdings recently announced additional closures of both Sears- and K-mart-branded stores following its Chapter 11 filing. The Zion facility is expected to have 619 total storage units, with nearly 96% climate controlled.
Paine Wetzel represented the seller, Amin & Shah Solutions LLC, in the transaction.
For comments, questions or concerns, please contact Paul Bubny
- ◦Development
- ◦Sale/Acquisition
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