Federico buys Wood River’s old Kmart building – Alton Telegraph

Wooden RIVER — Bob Federico has purchased the sprawling previous Kmart constructing shut to Interstate 255 in Wood River.

He is not in An monumental hurry To transform it to somefactor, and he anticipates The curlease companies o…….

Wooden RIVER — Bob Federico has purchased the sprawling previous Kmart constructing shut to Interstate 255 in Wood River.

He is not in An monumental hurry To transform it to somefactor, and he anticipates The curlease companies occupying the space To maintain there, he said. 

On Monday Federico shutd on The acquisition of the property at 1901 E. Edwardsville Roadvert, Wood River. Tarrant and Harman, an Alton-based mostly exact property and public sale agency, assisted Inside the sale. 

Federico Chrysler Dodge Jeep KIA is advertjacent to the Parking lot of the constructing. 

“I don’t exactly have A lot of plans, However it was simply, stpricegically, A great transfer, to maintain advertministration of the constructing and the grounds,” Federico said. 

“I’m not in a madvert rush to lease out, simply, for the sake of leaseing out,” he said. “I’ve some ideas, simply ideas, So far as My very personal enlargement. 

“I’ve hadvert people strategy me about leaseing, however I’ve some pre-conceived notions Regarding The corporations I even Want to lease to, and Have to be sensible to What Sort of corporations I need To usher in,” he said. “I even Want to be A great neighbor And that it Might be good For everyone.” 

One factor On The very Greater of Federico’s itemizing is beautification of the sprawling constructing. 

“I even Want to do my biggest to beautify the constructing and beautify the grounds as a Outcome of it’s such a blah constructing,” Federico said. “And such An monumental, prolonged constructing. It goes on eternally, nofactor breaks it up.” 

The earlier Kmart constructing, Beset off it’s popularly remembered, is 116,000 sq. ft and takes up about 11 acres. Since Kmart left the constructing it has housed an indoor paintball enterprise After which YTB, a multilevel marketer journey enterprise personaled by Wood River Capital LLC. 

“I even Want to do some beautification factors, for me and The metropolis,” Federico said. “We’re going To restore that. We gained’t have the cooperation of Mcompletely diffelease Nature for For a lot prolongeder, however we’ll get on it.” 

Curlease tenants embrace Federico KIA, Triune Canine Teaching, Surge365 and AV Nation. The state of affairs embraces about 60,000 sq. ft of vacant warehouse space and 14,000 sq. ft of vacant office space, said Duane Vancil, with Tarrant and Harman. 

He praised The curlease tenants, particularly Triune Canine Teaching. 

“Her enterprise is as a canine coach; she’s superior,” he said. “I truly like her; she has A nice enterprise there — and, I exactly like canines, So as that’s good. She exactly Is An environment nice neighbor, So as that’s good. We’ve been neighbors for however prolonged I’ve been there, Regardless of The very Incontrovertible exactity that I didn’t personal the constructing. 

“I don’t anticipate any of The corporations there to go anyplace anytime quickly,” he said. “They don’t require A lot of parking. I am going to Hand over some, however I don’t Want To surrender A lot of my parking spaces.

“I hope thOn the enterprise group thinks I’ve been A great neighbor And that i even Want to proceed to that,” Federico said. 

An selection, which Federico is undecided about, is to contiguously increase his suppliership showroom By which he could have As a lot as 50 automobiles inside. But he famous the market Presently Does not warrant such an enlargement. 

”I might Want to usher in ancompletely diffelease supplier franchise,” he said. “However the troublesome An factor of That is, that’s Unlikely out there with The biggest method franchise legal guidelines work as a Outcome of It Might be too Near completely diffelease supplierships. I can’t arbitrarily place ancompletely diffelease retailer Inside there. For event, I can’t Usher in a Toyota supplier. 

“It’d be a used automotive type of state of affairs, However it doesn’t need to be a automotive enterprise,” he said. “But no restaurant. My grandson said he thinks I ought to do a restaurant, however no. I’ll do what I can to beautify the constructing, On the very least.” 

One set off for the considerate consideration of future companies is as a Outcome of Federico believes in prolongedevity. 

“We now have An excellent monitor doc with our staff, particularly Inside the automotive enterprise,” he said. “We now have A very low price of turnover.

“No matter I Usher in, I would like it to be there For A very Very prolonged time,” he said. “I’m In a place I don’t Want to make a snap choice.” 

Federico said He is open to potential lease alternatives with A pair of of the space; events can contact Vancil at 618-979-3413. 

Source: https://www.thetelegraph.com/news/article/Federico-closes-on-Wood-River-s-old-Kmart-16607252.php

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