Kmart building in Atmore now under contract
A representative of the auction company that recently accepted bids for the Atmore Kmart building said Friday that his company has an agreement to sell the property but the deal has not yet been closed.
The 94,841 square-foot facility, located on Lindberg Avenue, has been empty since Kmart closed in the spring of 2003. The closing was part of massive changes in Kmart's retail structure. The Atmore location was auctioned along with 11 other Kmart properties put up for sale by one of Kmart corporation's lenders.
Tom Hanley of Tranzon Hanley said there was quite a bit of interest in the property, and that the auction was competitive.
None of the bids reached the seller's reserve price, he said, but a deal was brokered between the two parties.
The property is under contract now, he said, as are nine of the other Kmart buildings offered at auction.
The buyer's name was not revealed, pending finalization of the contract.
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