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<br />~.,s;. <br /> <br />SIIIlIl' !l!!I-J...!J <br /> <br />-~- <br /> <br />COM}> ARABLE BUILDING SALE #2 - Continued <br /> <br />Sale Price: <br />Unpaid Special Assessments: <br />Total Price: <br />Unit Price: <br /> <br />$1,475,000 <br />None <br />$1,475,000 <br />$11.18 psf of gross building area <br /> <br />Remarks: <br /> <br />This is a former Kmart building which became vacant when Kmart opened their new facility <br />approximately four blocks to the northeast. Kmart had vacated the property several years prior to <br />the end of the lease, and it was sub~leased to an industrial tenant for several years who vacated <br />the property in 1998. This building needed a new roof and new floor covering, since the floor <br />covering was substantially damaged by the tenant and the building had not been adequately <br />maintained during the years after Kmart vacated the property until their lease expired. The <br />purchaser utilizes approximately 53,000 square feet of the building for their furniture business, <br />and has remodeled and leased much of the remaining space to other non~related retail tenants. <br />This property has been successfully repositioned as a multiple tenant retail property which was <br />heavily dependent upon the presence of a furniture store operator who wanted space in this <br />location. <br /> <br />Approximately 35,000 square feet of this building has a 32-foot high ceiling, and the balance has <br />a 17 ~foot high ceiling. This property was originally built in 1972 and Kmart occupied the <br />property in 1977. ----1 <br />