Former Costco and Goal buildings, among the largest industrial actual property in St. John’s, offered to KMK

ST. JOHN’S, NL — Ikea? Bass Professional store? Big Tigers? The world’s greatest Tim Hortons? All of those names — besides the final one, clearly — are being thrown round as potential companies shifting into the previous Costco location in east-end St. John’s.

The 142,000-square-foot constructing, together with the roughly 120,000-square-foot former Goal/Zellers subsequent door was offered lately to St. John’s based mostly KMK Capital Inc. and an unnamed associate.

SaltWire spoke with KMK CEO Justin Ladha, who mentioned presently the identification of the associate is confidential, as are plans for the buildings.

“We do have one thing in thoughts, contemplating the situation and dimension,” he mentioned, referring to the previous Costco. “It is proper on the freeway so it is obtained entry from anyplace within the metropolis and even exterior town. We like the situation, and we just like the property.”

Ladha confirmed they do have the identical associate for each buildings and mentioned they hope to share extra of the plans within the coming months.


“It is proper on the freeway so it is obtained entry from anyplace within the metropolis and even exterior town. We like the situation, and we just like the property.”
— Justin Ladha


The constructing that previously housed Goal has been largely empty because the US-based division retailer retailer pulled out in 2015, with some smaller companies renting out elements of the area over time.

Each properties have been among the largest vacant retail properties within the metropolis.

“The longer these properties sit there the development prices hold going up and up,” Ladha mentioned, referencing how lengthy that they had been vacant. “We see nice worth in them given the configuration, its location and entry to the freeway.”

SaltWire contacted among the bigger retailers, together with Ikea, Big Tiger and Amazon, to see if that they had any plans to maneuver into the St. John’s metro area however didn’t obtain replies as of print deadline