The Kmart on West 58th Avenue in Arvada has survived several rounds of store closures. Kmart in Englewood closed in November leaving Arvada as the last metro area location. But this time, it didn’t …
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The Kmart on West 58th Avenue in Arvada has survived several rounds of store closures.
Kmart in Englewood closed in November leaving Arvada as the last metro area location.
But this time, it didn’t make the cut.
The store will close its doors Sept. 2.
“I think it’s a horrible idea,” said James Vaughn, an Arvada resident and Kmart advocate. “I think Walmart keeps coming in here and ruining all these little stores.”
Vaughn shops at the Arvada Kmart about three times a week for all his household needs. It’s his go-to store.
“I happen to love Kmart — I was raised on it,” he said while standing in the parking lot after a shopping trip. A neon yellow sign that reads “store closing” reflected in the sun behind him.
Sears Holdings, the struggling department store chain which owns Kmart, announced at the end of May that it would close another 72 Sears and Kmart stores as sales plummeted.
A notice from the company said sales dropped 31 percent in the most recent quarter, leading to a loss of $424 million. Sales have fallen for more than six straight years, despite efforts to revamp stores.
“I believe we were lucky to have it stay open as long as it did,” said Maureen Phair, executive director of the Arvada Urban Renewal Authority of the Arvada store. “We’re sad to see it go, but again we feel fortunate that it stayed that long for the employees and the people that shop there.”
Kmart in Arvada, which leases the space from an investment group out of California, WLA Investments, is within the Ralston Fields Urban Renewal Project Area.
Phair met with the property owners to discuss what they would like to see in the space moving forward.
“I did tell the property owners that the one thing Arvada Urban Renewal does not want to see is a vacant big box store,” Phair said.
The property is zoned for single-story auto retail, but Phair said AURA would be happy with retail, residential, mixed-use or hospitality.
“We are open to all of the above and would like to see it redeveloped,” Phair said.
In Englewood a developer is looking to convert the newly vacant Kmart into self-storage and fitness with 40,000 square foot marketed to small retail and restaurant.
“We’re dedicated to trying to find a solution to keeping it from being a vacant site,” Phair emphasized. “We are not in control, so we need to work with the property owners.”
That urban renewal area has recently seen improvements including the Arvada Plaza, the new Super Walmart, Safeway and Arvada Square.
“We have done so much work in that market,” Phair said. “We don’t want to take a step backward when we’ve been moving forward in that area.”
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