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Home Depot Building’s Buyers Come Forward

homedepot082009-3
Home Depot Store (closed)

Home Depot closed in 2008 after only three years.

After weeks of speculation, the buyers of the former Home Depot building in Bismarck have finally come forward. The building was purchased by a small group of local investors, headed by Gary Schumacher, Bob Savageau, and Dick Savageau.

The investment group has stated that they have no definitive plans for the building, but are hoping to draw another big box retail store to the building.

I predicted this as a likely outcome in both the articles “Predictions For 2010” and “Potential Uses For Former Home Depot Building”, so I must stay that I’m pleased to see another of my predictions come true.

“The former Home Depot building will likely remain empty throughout 2010, although it wouldn’t surprise me if an investor buys it at the upcoming auction for possible future use.” – Predictions For 2010

As I stated in the aforementioned articles, I anticipated that the former Home Depot would be purchased by investors for future use, but would likely remain empty through 2010. I also predicted that, when ultimately filled, it will likely continue to house major retail tenants.

Bismarck Pride has been monitoring the former Home Depot building’s situation closely, and was even the first to report its confirmed sale, having provided hourly updates throughout the final day of its auction.

Keep checking back to Bismarck Pride for further updates on this and other important topics.

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