Here's what's happening to a former Kmart site in Concord

CONCORD, N.C — An affiliate of MPV Properties in Charlotte has bought a former Kmart property in Concord with plans to redevelop it for retail and entertainment uses.

MPV wants to create a “multitenant income producing investment” in the former 175,000-square-foot building. Construction work on the site is scheduled to begin next month.

Last month, Concord Retail Investment Group, a company with connections to MPV, paid $5.9 million for the 26 acres at the now-closed Kmart, at 545 Concord Parkway North in Concord. The former owner was listed as Seritage KMT Finance of New York.

[Here’s what will replace Kmart in Rock Hill as part of center’s planned redevelopment]

“MPV intends to re-tenant the remaining space in the building with other entertainment and retail uses, however, no new tenants are being announced at this time,” MPV says.

Here's what's happening to a former Kmart site in Concord

Most Read

Photos: Passengers evacuated after American Airlines flight makes emergency landing

Chinese money laundering operation deposited cartel money into Charlotte banks, feds say

Plane returns safely to Charlotte airport after ‘maintenance issue’

Texas 10-year-old admits to killing man when he was 7, authorities say

Fewer teenagers are getting driver’s licenses. Here are the reasons why.