Hawaii Investor Buys Kmart on Veterans Boulevard for $16.5M

by • October 22, 2014 • Acquisitions, Jefferson Parish, RetailComments (1)3291

Photo via wikipedia.org

Photo via wikipedia.org

The Kmart at 2940 Veterans Blvd. in Metairie was sold last week for $16.5 million, according to property records.

Veterans Elua LLC, purchased the property, whose manager is Corine Watanabe of Honolulu.   It appears that she is affiliated with HTH Corp., a Hawaii-based real estate holding and management company. The company website lists one property in its portfolio, the 837-room Pacific Beach Hotel in Waikiki.

 The sellers were Lewis Frank of KM Limited Partnership and partner Joseph Georgusts.

Frank is also co-owner of the Tolmas Tract property directly across Veterans Boulevard from Kmart.

Kmart has recently closed its Belle Chasse Highway location last month and terminated 100 employees and last week, it announced the closure of a Huntsville, Alabama, store, which will eliminated another 73 jobs.

No word yet on whether the Veterans store will remain open or close.

 

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One Response to Hawaii Investor Buys Kmart on Veterans Boulevard for $16.5M

  1. Kurt Douglas Johnson says:

    Will K-Mart go the way of Blockbuster Video?

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