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William Warren Group/StorQuest Self Storage Pursues Conversion of Englewood, CO, Kmart

Update 7/3/19 – The Englewood, Colo., Planning and Zoning Commission voted on June 18 to move forward with WWG’s request to convert a former Kmart store. Commission members agreed to a “findings of facts” process, which allows the city to review the application. The commission will begin the procedure at a July 16 meeting, according to a source.

“We're excited about the project. We're all in on improving this project, and we're going to dramatically enhance it,” added Zeb Ripple, managing partner at Capital Pacific.

The commission will then provide a recommendation to the city council. “The uses will remain retail at that existing Kmart and some possible restaurant uses and so on. There's not a change proposed that would heavily or inversely impact [the site],” said city planner Erik Sampson.

The proposal includes one bike stall per 25 parking spaces, but resident Roger Newmann hopes WWG will add more. “They're planning on putting [in] retail. If it's a coffeeshop or something like that, you're going to have more than two bicycles [at the site],” he said.


6/22/18 – The William Warren Group (WWG), a privately held real estate company that operates the StorQuest Self Storage brand, is looking to convert a former Kmart store in Englewood, Colo., to a mixed-use space that will include self-storage and retail. The company held a community meeting earlier this month to discuss its vision for the property at 200 W. Belleview Ave. Kmart closed the 140,000-square-foot building in November, according to the source.

The plans include converting about 60,000 square feet of the building into a StorQuest facility with a drive-in loading area. The storage units would be built toward the rear of the building, with the remaining space marketed to small retailers and restaurants. Chuze Fitness, which operates gyms in Arizona, California and Colorado, has agreed to lease 40,000 square feet on the south end.

The building is about 230 feet deep, which isn’t ideal for retailers, but great for storage, said Jon Suddarth, vice president of real estate for WWG. “We don’t need the frontage, but we need the space, whereas the retailers need the frontage, but not the space,” he said.

Capital Pacific, the company with the land lease on the site, contacted WWG after Kmart vacated. WWG will develop the storage facility and retail space, except for Chuze. Legend Partners will lease the remaining square footage.

WWG will need support from city officials, who must amend the zoning to allow for storage, the source reported. If approved, construction would begin on the self-storage component next year. It’ll be WWG’s first Colorado conversion involving a big-box store, Suddarth said.

Founded in 1994 and based in Santa Monica, Calif., WWG acquires, develops and operates more than 125 self-storage facilities in Arizona, California, Colorado, Florida, Hawaii, South Carolina and Texas.

Sources:
Business Den, Self-Storage Facility Developer Looks to Convert Shuttered Englewood Kmart
Englewood Herald, Planning/Zoning Panel Moves Forward With Kmart Site Plan

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