Written by John Lindt
Electronics powerhouse Best Buy will relocate from its 30,000 square-foot Visalia location to a larger 41,000 square-foot space.
The move will only take the retailer across Mooney Boulevard into a former Sports Chalet building next to a Target store in the Packwood Creek shopping center. Plans are to open the new location by February 2019.
That’s word from agent Jon Stansbury of Cushman & Wakefield, who represented the seller of the building. Stansbury says the buyer is not Best Buy but DBO Development, also known as the Orosco group, which built the Packwood Creek shopping center and will be leasing the space to Best Buy.
The fast moving deal leaves another tenant, Bobs Discount Furniture, out in the cold looking for another place to land. Bob’s had applied to the city for tenant improvements at the Sports Chalet building but was unexpectedly displaced when the owner agreed to sell the place to DBO in a deal that is set to close later in September, Stansbury said.
The current Best Buy building’s private owner will now be looking for a tenant come February with no word on who might go in.
“Junior anchor spaces are hard to fill right now,” said Stansbury, who saw the Sports Chalet space sitting idle for several years.