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Home Depot set to take Zody's spot
Location has been without full-time tenant for 15 years
| Thursday, Jan 25 2007 10:05 PM
Last Updated: Thursday, Jan 25 2007 10:07 PM
The long vacant Zody's department store on Ming Avenue will soon become Bakersfield's fourth Home Depot in a deal expected to improve the corridor's profile.
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The Atlanta-based home improvement chain has signed a lease to occupy the 100,000-square-foot building, situated on 71/2 acres in a shopping center on Ming Avenue between Akers and Stine roads. The company plans to renovate the building's facade and interior in time for an opening in late 2007.
"What you are going to see is a first-class retail shopping center," said Ross Pfautz of Costa Mesa-based BVP Investments, a joint venture partner on the project with Newport Beach-based Mark IV Capital. "It will change the whole shopping center from what it looks like today."
Built in 1969, the building has been the target of graffiti attacks and is seen by some as an eyesore.
"It's probably the single most prominent building in our community in terms of size," said Vince Roche, senior vice president at CB Richard Ellis. "It is a very visible building. There are very few large retail buildings that are vacant. Many people drive by and are curious about it.
"It is great news that we finally are going to get it occupied," said Roche, who has marketed the property on and off for different owners over the past decade but was not involved in leasing it to Home Depot. "It's been so hard to get a deal done on that property."
The structure has been without a permanent tenant for 15 years. It housed a Zody's discount department store until 1986. Kmart then brought a Builders Square store to the site. After Builders Square's closure in 1991, Kmart continued to pay rent on the building until it filed for bankruptcy in 2002 and got out of its lease.
"Kmart chose to leave it vacant," Pfautz said. "It was left fallow for years. It was no fault of the (former) owners. The owners left it vacant for so long because they were still getting paid rent."
In recent years the building has been loaned out as a Salvation Army holiday food basket and toy donation station and has been occupied by several temporary tenants such as bookstores.
Jim Eggert, Bakersfield's assistant planning director, said a site review plan submitted to the city indicates the building's facade will be redesigned and its interior will be renovated, but the existing walls will remain in place.
"It should have a little more modern feel to it," Eggert said. "It should be an improvement over what is there now. I think it will help the shopping center tremendously."
Pfautz said the building's prominent arched entry will be replaced with a more contemporary entryway.
The Home Depot, which entered the Bakersfield market in 1993, has locations in Tehachapi and Delano in addition to its three existing Bakersfield stores.
Competitor Lowe's will have three home improvement stores in Bakersfield when its new location opens at Columbus and Haley streets in the northeast next month.
"Business is great in Bakersfield," said Home Depot spokeswoman Kathryn Gallagher. "Our research shows there is need for another store to keep up with demand from customers. We are serving another portion of Bakersfield. It is a more convenient shopping location for the residents in that area."
Carlos Andrade, an assistant manager at the OSH on Ming and Ashe Road, declined to comment on the new Home Depot and directed questions to the company's corporate office.
OSH spokeswoman Allison White said the company was confident customers would continue to shop at OSH for its convenience and customer service.
"Our customers will continue to shop here for things they can't necessarily get at bigger stores," White said.