Seeking tenants for K's building
Monday, June 25, 2007
K's Merchandise at 371 S. Broadview St. has been closed since just after the first of this year and marketing has been ongoing for a new business to fill the retail space. Efforts to find a new purchaser or tenant have been transferred from a New York firm and handed over to a local Cape Girardeau real estate company. Tom Kelsey, commercial broker for Lorimont Place, said he has been appointed the exclusive listing broker.
Kelsey is no stranger to finding occupants for vacant buildings. His real estate career began in 1974, and since then he has seen his share of accomplishments in retail, industrial and commercial real estate sales and leases.
The 98,121-square-foot building was originally built as a Central Hardware store and later purchased by K's Merchandise, which occupied the building for many years. The retail chain fell into financial difficulties and was liquidated. The building features seven acres with a large off-street parking lot and location just off South Kingshighway.
It appears the best use for the property would be for retail sales. However, the Lorimont broker said the building layout would also work for distribution centers, institutional applications, customer service facilities or large corporate office operations. He said the present owners would also consider dividing the building into two or three sections to accommodate various tenants.
Kelsey said his method of marketing would be similar to what he has used for other properties, including creating local, regional and national awareness of the availability of the building. Lorimont also networks with other commercial brokers outside the region who often represent prospective buyers and tenants who want to locate here. He said he would also be teaming with local chamber officials for any possible businesses that could have interest in locating there.
* David Heuman, CEO of CTS Technology Solutions Inc. of Sparta, Ill., has acquired the telecommunications portion of Advanced Business Systems, a long-standing Cape Girardeau business owned by Jack Mehner.
"With consistent and rapid changes in the telecommunications industry, especially toward VOIP [Voice over Internet Protocol], I wanted to partner with an experienced communications provider who had a desire to enhance business technology options in this area," Mehner said. "Additionally, to best meet business technology needs and demands, the company needed to have professionals with extensive skills, knowledge and experience in the VOIP arena."
CTS Technology Solutions is a telecommunication and computer networking corporation that consults and works with businesses in Southern Illinois, western Kentucky and Southeast Missouri.
While the Verizon Wireless office in Cape Girardeau will continue under the name of Advanced Business Systems, the communication system part of the business will now be known as CTS Technology Solutions Inc.
* Ground has been broken for an O'Reilly Auto Parts at 615 E. Jackson Blvd. in Jackson. The auto parts retailer should be operating out of its new location sometime in September, O'Reilly spokesman David Turney said from the corporate headquarters in Springfield, Mo.
Tim Krakowiak is the business editor at the Southeast Missourian. Contact him at 301 Broadway, Cape Girardeau, Mo., 63702-0699. email@example.com or 335-6611, extension 137