BRADENTON — The old Shoppers Bazaar near DeSoto Square mall will soon see its first tenant in three years and it’s getting a makeover at the same time.
Wagner Realty closed a deal with Family Dollar Stores to occupy 10,000 square feet of the 55,000 square-foot building at 3620 First St. W. The store is scheduled to open in late fall, said Josh Braverman, spokesman for Family Dollar Stores.
Before the tenant moves in, the building is undergoing much needed improvements. The interior and exterior of the building are being painted to freshen up the building and cover vandalism damage.
Shoppers Bazaar, a former indoor flea market, has been vacant since February 2006 when it closed suddenly, putting about 130 vendors out of business.
David Fletcher, real estate agent for Wagner Realty, said he had been marketing the building for 18 months, and has been in negotiations with Family Dollar for about 12 months.
“No deal is easy at this point,” Fletcher said.
Wagner Realty is in negotiations with two other tenants to occupy the remainder of the building. Fletcher would not disclose the businesses’ names nor the terms of the deal with Family Dollar.
The yearly rental rate for the Shoppers Bazaar was listed at $12 per square foot, according to Loopnet.com, a commercial real estate listing service.
After the Shoppers Bazaar closed, former owner Terry Schneider filed for bankruptcy in June 2007 and in August 2007 he was sentenced to five years in prison for failing to pay $145,000 in state sales taxes.
Manatee County Commissioner Ron Getman said the building had become an eyesore. In addition, the vacant building drew in vagrants and vandalism.
“I for one, as a commissioner, am very pleased somebody will move into that building,” Getman said. “A vacancy like that on the main thoroughfare becomes an eyesore, and detracts from the overall quality of the neighborhood.”
Family Dollar Stores, based in Matthews, N.C., reported a 8.3 percent sales increase for the third quarter of 2009 from the same quarter of 2008.
Manatee County currently has three Family Dollar Stores, located on 53rd Avenue East, Cortez Road West and 14th Street West.
Braverman said the First Street West location was an ideal location for Family Dollar to add another store to Manatee County.
“We like to put our stores where our shoppers are,” Braverman said.
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