A long-vacant Kmart store at a highly visible Oxnard intersection is finally getting leased up, with three new retail tenants set to open there next year. LA Fitness is taking 37,500 square feet, Smart & Final has leased 31,044 square feet and Star World, a new appliance and electronic company, signed for 26,487 square feet, said Scott Siegel, vice president with CBRE in Camarillo. He brokered the deal along with CBRE colleagues Larry Tanji and Lisa Engel, and Kristin Ambrose at Red Mountain Retail Group in Santa Ana. Red Mountain, which has converted other Kmart properties across the country, owns the 137,175-square-foot shopping center at Ventura Road and Channel Islands Boulevard. It had been shuttered since the recession hit in 2008, with various unsuccessful redevelopment attempts over the past seven years. “We knew it would be a challenge given how many years the property was vacant and the numerous other developers who attempted to re-develop the property, but we were very optimistic,” said Graham Allchorn, vice president of leasing at Red Mountain. The company plans to completely renovate the shopping center, putting in new storefront elevations, a new parking lot and landscaping and updated lighting. The remodel is scheduled to be completed during the second quarter of 2016, with new tenants opening for business next year. “This is the last second-generation infill site with real prominence in the west Ventura County, and is located at one of the most visible intersections in Oxnard,” Siegel said. LA Fitness, Smart & Final and Star World all signed 15-year leases.
