Several Businesses Have Closed or Are Moving. What Will Take Their Place?
Thousands of square feet of space are going to be available in Sioux Falls. Some businesses have closed and others are moving. The properties are in prime areas for restaurants and retail.
K-mart on West 12th Street closed on Sunday, March 19. It was the second Sioux Falls K-mart store to close in three months. K-mart on East 10th Street closed in December 2016. Both locations are on key streets in Sioux Falls where thousands of cars pass each day. Their position should make them pretty attractive to potential buyers/leasers.
Hobby Lobby is moving from 41st Street to the new Lake Lorraine development just off 26th Street and I-29. Construction has already begun on the new 70,000 square feet building and should be open by fall of 2017. This will leave a massive hole in this strip mall which is also home to Fareway Foods, Office Max, Planet Fitness and Shopko.
Gage Brothers has been in the same location for over 100 years. It's located just off West 12th and I-29. Accroding to the Argus Leader, the business is moving operations to 2800 N. Bahnson Road near I-229 and Benson Road. Gage Brothers sits on 30 acres of prime land. Will another car dealership claim the location? No word on when the company plans to move to the new location.
If you've driven down 26th Street, west of I-29, you've driven by a huge new car lot that is being constructed. Sioux Falls Ford will be moving their dealership from in front of the Empire Mall to 26th Street between Lowe's and Hy-Vee. The 90,000 square foot facility will have 46 service bays, 1,000 display and customer parking areas, large showroom, and a customer lounge with a view of the service department. The dealership plans to open this summer.
When Sioux Falls Ford moves, this is going to free up a lot of precious land on one of the busiest streets and most sought after locations in Sioux Falls. I wouldn't think just one business will take up all that prime retail space. There is plenty of room for at least two strip malls or one large one, which is the current trend. I would expect to see some of your favorite stores and restaurants you've been wishing for to eventually come to the city and set up shop in front of the Empire Mall.
Gordmans announced earlier this month that the company is filing for bankruptcy and plans to liquidate its inventory and assets. Gordmans is located between Hy-Vee and the Empire Mall. With so many major retailers closing, would another have interest in this location? Would Hy-Vee expand into the building? It would be a great location for a restaurant. This one has me puzzled. It will be interesting to see what the Empire Mall finds for this location. We'll keep you posted.
The Rock & Roll Academy on West 10th Street closed in December 2016. The Dollar Loan Center on 41st Street also closed. Both are owned by the same person. The 41st Street Dollar Loan Center is in an attractive area for future businesses. The Rock & Roll Academy on the historic Sioux Falls Loop is a well-traveled street, but not exactly as desirable as the 41st Street location. The price tag on the buildings is quite steep.
There are going to be a lot of changes in the city in the coming months. Sioux Falls is growing and major restaurants and retailers want to be here. What businesses would you like to see come to Sioux Falls and take over the vacant spaces?