No Signed Lease Yet For Kmart Building, But Owner Talking With Three Potential Tenants, City Says

The Pittsburgh-based owner of the space that used to house Kmart is talking with at least three potential tenants, Lakewood's economic development manager says.

Ellie Chambers-Grady told Patch that she spoke with Daniel Kamin, who told her he is speaking with at least three potential tenants for the 87,000-square-foot space at 5401 100th Street SW.

She said the owner didn't specify who the potential tenants are. He also cautioned that the talks are preliminary, and he could be months away from getting a signed deal, she said.

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"He warned these lease negoiations are often very protracted, but we hope to have a lease by the end of the year," Chambers-Grady said. "He told me it's not unusual for the lease talks to take at least 12 months."

The space has been vacant since Jan. 13, when Kmart shut its doors as part of a national strategy by its parent company to close about 120 of its Sears and Kmart stores.

The closure left a discount-shopping hole in Lakewood, where the store had operated since 1972. It's neighbors include the local U.S. Postal Service.

Still, Kmart's closing opens up space for, say, businesses that were considering locating in the Lakewood Towne Center area without actually being part of the shopping center, Chambers-Grady said.

"We’re excited about having new opportunities," she said. "It is on a prominent street. It will be nice to have some redevelopment on that site … The other thing is because there are underlying covenants on leases on Town Center, there is an opportunity to have a tenant in that building who wouldn’t be in Towne Center."

On the city's end, staff is willing to assist potential tenants with research and other services that will them realize the benefits of doing business in Lakewood.

"Everybody in Lakewood has a wish list," she said. "Obviously there are retailers not in this market that we would like to have."

So, for now, it looks as if Lakewood and JBLM will have to wait at least a few more months to see if the Kmart building will house one of the names on its wish list.

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