COMMERCIAL REAL ESTATE : K mart Acquires SAVI Ranch Site for Future Anaheim Store
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When WalMart or Price Club buys property, the community responds as if a shrine were about to be built.
The two retailers, still adolescents in the Orange County retailing marketplace, have been getting all the attention lately. But veteran K mart Corp., though perhaps keeping a lower profile, is still a big player. The discount retailer just bought a chunk of land at the SAVI Ranch Business Park in Anaheim for $9.2 million and, at 18 acres, it’s one of the largest such purchases this year.
The new store will be the first shopping center in Anaheim’s portion of SAVI Ranch, a 200-acre mixed-use project in northwest Anaheim. Another section of the business park is in Yorba Linda, which, by the way, already has a Price Club.
K mart is expected to open for business in early 1994. CB Commercial in Anaheim represented SAVI Ranch in the sale.
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