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Alturas Preparatory Academy to move into former Sears property
IDAHO FALLS, Idaho (KIFI) - TOK Commercial has announced the closing of a transaction for the sale of the former Sears retail anchor space in the Grand Teton Mall. It will become the new Alturas Preparatory Academy, a secondary school planned to open in fall 2021.
The 70,000 square foot space was purchased by Building Hope, a nonprofit organization that assists charter schools in the financing, procurement and renovation of educational facilities.
According to Brian Wilson and Brent Wilson of TOK Commercial, which assisted in the selection and negotiation of the purchase, Building Hope plans extensive renovations that will feature 30 classrooms, common areas, and flexible, naturally-lit collaborative spaces.
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5 Surprising Second Acts for Dying Malls GOBankingRates 1/15/2021 © Mike Mareen / Shutterstock.com Szczecin, Poland-July 2018: Amazon logistics center near Szczecin in Poland-panorama.
As brick-and-mortar retailers struggle to stay afloat, many malls around America are slowly dying and Amazon may capitalize on these now-empty spaces. According to a Wall Street Journal report, the e-commerce giant is in talks with mall owner Simon Property Group to take over anchor department-store spaces previously occupied by Sears and JCPenney both of which have filed for bankruptcy and closed numerous locations in recent months and turn them into fulfillment centers. This would allow Amazon to have fulfillment centers in more places and cut down on delivery times.
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