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The purchasers of the Kmart property in Boone this week would not disclose the business slated to open at the site.

Photo by Anna Oakes



Originally published: 2014-06-19 20:22:04
Last modified: 2014-06-19 20:22:47

Developers mum on Kmart site plans

by Anna Oakes

The president of one of the development companies purchasing the Boone Kmart property said he could not announce the business planned for the site, saying only that it would be a "retailer."

"We're working on that," said Ron Turner, president of Piedmont Land Development Inc. in Davidson, on Thursday. "We hope to be able to announce who our retailer will be by the time (Kmart closes in September). We think we can really add some value and improvement to the community with what we're going to do there."

Several North Carolina and Georgia development companies on June 11 purchased the six-acre property for $6,975,000, according to the Watauga County Register of Deeds Office. In addition to Piedmont, the developers include Granite Falls Land & Investment LLC of North Carolina, Equity Resource Partners III LLC of Georgia, Watson Commercial Development Inc. of North Carolina and Robert Carroll Carver of North Carolina.

Piedmont Land Development Inc. owns and manages commercial properties throughout the Southeast, but this is the company's first project in Boone. Turner said the developers would retain ownership of the Boone property, located at 1620 Blowing Rock Road, and lease to the business that opens at the site.

"We're excited about the redevelopment of the property," Turner said. "We think it's a really well located piece of property. We like the Boone market a lot."

Turner said the developers plan to make a number of improvements to the property based on the retailer's needs.

The Boone Kmart store will begin its liquidation sale June 29 with plans to close in mid-September, according to Howard Riefs of Sears Holdings, the parent company of Kmart stores.