Cottage Grove building that housed Hollywood Video to become multi-tenant retail spaceEmpty for two years and having had multiple deals for new tenants fall through, the owners of a vacant former Hollywood Video store in Cottage Grove say they’re set to renovate the building into a multi-tenant retail shop.
Empty for two years and having had multiple deals for new tenants fall through, the owners of a vacant former Hollywood Video store in Cottage Grove say they’re set to renovate the building into a multi-tenant retail shop.
The 6,600-square-foot building at 80th Street and East Point Douglas Road owned by Hopkins-based KCR Corporation has remained vacant since the former video rental chain declared bankruptcy in May 2010. Prospective tenants – including a restaurant, drug store and, most recently, Discount Tire – have backed away before finalizing deals to occupy the space.
That has led the company to undertake a change of strategy for the highly visible site that sits at the gateway to one of Cottage Grove’s busiest retail areas. Matt Oberman, project director for KCR, says the company – as early as this week – will begin gutting the building’s interior and subdividing it into three separate retail suites.
“We’ve decided to re-think the use of the property,” Oberman said. “It’s a great location, so we think we can bring some excitement to the area.”
Oberman said the company made the decision to divide the building after hearing from numerous businesses interested in the site but too small to make the full store work for their needs.
“We’ve gotten a lot of calls from people in the city, small tenant users, that have wanted to go into that space,” he said. “But, up until now, we haven’t wanted to take on that effort and expense to retrofit it.”
Oberman said KCR have already received serious interest from possible tenants, though declined to identify the businesses late last week.
Advancing commercial development plans nearby, including the LA Fitness-anchored redevelopment of a former Home Depot store, have KCR feeling confident they’ll have the old video rental building occupied in the near future, Oberman said.
“It’s the highest visible corner there, the most highly-trafficked site,” he said. “I think it’s going to be a home run.”