Moline-based Centennial Contractors has bought the former K's Merchandise, 1320 W. Kimberly Road, Davenport, and plans to turn it into a space for retail businesses.|
The 79,000 square-foot building was listed for $1 million, but Centennial co-owner Zack Sottos said they bought it in December for $850,000.
Mr. Sottos said he and co-owners Jim Massa and Jayme Massahave the property listed with Ruhl and Ruhl Realty. If they are unable to resell it, they will subdivide it into two retail spaces for lease.
"I think it's a good area; we've been watching it for a while," Mr. Sottos said. "The building is in great shape, and everything's functional."
He said they have removed all the shelving inside and are cleaning up the outside, and they are workingwith the city of Davenport to draw up plans to subdivide the lot.
Centennial wants to parcel the corner of the parking lot on Marquette Street and Kimberly Road to attract another retailer or restaurant, Mr. Sottos said.
"It's a high-traffic area and good for business."