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U-Haul Buys Queensbury Kmart Site for $7.1 Million

Posted: 2/5/2019 Link: PostStar.com
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U-Haul has purchased the former Kmart on Dix Avenue for $7.1 million, according to Warren County property deed records.

The property at 308 Dix Ave. was sold to an entity called AREC 34 LLC, which is a holding company for U-Haul.

The moving company had identified the property for its self storage business.

The Dix Avenue site was on a December list of more than 80 Sears and Kmart stores that were being closed.

A U-Haul official said customers will be able to rent storage lockers or large “u-boxes” for their driveway as they are moving out and the boxes can then be stored at the U-Haul facility until they are ready to be shipped to a new address.

U-Haul said in December that the company does not build new storefronts generally but adapts existing vacant space and big box stores are ideal for this purpose.

The Queensbury store was built in 1993 as a “supercenter” and is 176,238 square feet, according to assessment records, which is a little bigger than 4 acres or four football fields. The property is assessed at $4.9 million.

The Greenwich Kmart on Route 29 will be closing on March 23, according to a store representative.

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