October 19, 2010 by staff
Harbor Freight, New tenants plan to move in two stores of long vacant housing at Harmony Road and University Avenue, prompting one of the main intersections in Fort Collins and fill some of the 800,000 square feet of empty commercial city.
Harbor Freight Tools, a long time tenant at 105 W. Prospect Road, has signed a lease for half of the former Circuit City building, or about 14,000 square meters, on the northeast corner of Harmony Road and University Avenue. The move doubles its retail presence and provides greater visibility, said real estate agent Debbie Tamlin SullivanHayes Commercial Real Estate in Fort Collins.
Sitting empty after Circuit City is Linens and Things, which closed in December 2008 when the parent company declared bankruptcy.
A national retailer is interested in signing a lease for much of the building, according to David Spriggs, a real estate agent with Legend Retail Group of Denver, which is marketing the building. Spriggs declined to name the store.
“We choose our horses and go with him,” said Spriggs.
Harbor Freight deal about half of its building to 14,000 square meters, leaving gaps in the Circuit City site.
Tamlin has a second retailer interested in sharing the building with the loading port, but no contract signed, however, she said.
The move to one of the most active and recently rebuilt the intersections of the city with over 70,000 cars passing by every day is part of the new business model charging port intended to compete with stores home improvement Lowe’s and Home Depot, Tamlin said.
“There have been a drive-by place that people think to stop and see what they have,” Tamlin said.
Harbor Freight, tucked next to Chuck E Cheese in the College Avenue and Prospect Street, “was more of a destination location,” says Tamlin.
The new location “will give a greater presence of mind that are here in Fort Collins. They could not get before. You saw him if you take your kids to Chuck E Cheese, but that is not the time to think about buying of a new drill. ”
If the retail legend nabs a new tenant for Things Linens’ N, which will help to fill a large percentage of commercial space that has languished vacant for almost two years and increase commercial activity in the intersection that has suffered under the weight of three large buildings, including empty Wal-Mart, Circuit City and Linens’ n Things.
“Getting any of that vacant space along retenanted College is just going to have a positive impact,” said Josh Birks, economic adviser to the city. “Loading the port is moving from one place to another, so it’s not as good as some of the other national tenants in view of the space, but fill an empty space … you can only do good things.”
Harmony / College intersection is a key component of the study corridor from the previous center was seen in the reconstruction opportunities along University Avenue from Prospect Road to Harmony Road.
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