Colorado Real Estate Journal - March 16, 2016

Jax purchases former Broomfield Kmart for $5.59 million

Jax Mercantile recently purchased the vacant Kmart building at Broomfield Plaza for $5.59 million and expects a soft opening of its newest store there in June.

Kmart vacated the 93,927- square-foot building in 2012. There have been some temporary users in the space, but it has been largely vacant since that time.

Lone Ranger LLC sold the property, which is located at 5005 W. 120th Ave.

Headquartered in Larimer County, Jax has stores in Fort Collins, Loveland, Lafayette and Ames, Iowa.

“This … building offers a great opportunity to house much of our outdoor gear, and ranch and home merchandise all under one roof,” company President Jim Quinlan said in a recent announcement.

“The City Council and I are pleased that Jax Mercantile Co. has decided to acquire the vacant Kmart building and open its Outdoor Gear, Farm and Ranch store in Broomfield,” added Broomfield Mayor Randy Ahrens. “I first learned of Jax while attending college and have always enjoyed the uniqueness of the store. Jax has a great reputation throughout the communities they serve, and we look forward to a long and successful partnership.” The store will feature a broad array of outdoor gear products, including footwear; outdoor apparel; camping, climbing, hunting, fishing, boating, military surplus and athletic equipment; and travel accessories. In addition, it will offer a variety of home and garden products, including pet, poultry and equine supplies, hardware, paint, western wear, ranching and fencing supplies, and lawn, garden and landscaping supplies and equipment.

It expects a grand opening in mid-September.

Kelly Fisher of Herman Group represented Jax in the transaction. Cushman & Wakefield brokers David Fried and Robert Hudgins represented the seller. Broomfield Plaza, owned by NewMark Merrill Mountain States, is located at the northeast corner of 120th and Sheridan Boulevard. The city and county hopes the Jax announcement will spur interest in a 57,000-sf former Hobby Lobby that also is vacant.

“Our hope is that with an anchor coming into the center, that’s going to revitalize that corner,” said Mike Van Den Bosch, Broomfield senior economic development specialist.

Aside from the Hobby Lobby, the center has only one vacancy, 1,200 sf.