Albertville to negotiate Kmart building deal - WAFF-TV: News, Weather and Sports for Huntsville, AL

Albertville to negotiate Kmart building deal

ALBERTVILLE, AL (WAFF) -

The City of Albertville has its eyes set on the Kmart building.

The company announced recently plans to shut down the last Kmart in the state and it's located on some prime property.

The Kmart property sees a lot of traffic running next to it with Hwy. 431 and Hwy. 75, but city officials say they have no plans of using the property as its own.

The location might very well be one of the hottest retail properties up for grabs right now in Albertville.

The store will soon close and it's for sale.

City Council President Nathan Broadhurst says he's aware of multiple offers being made to Sears Holdings for the property.

In recent days, the city council agreed to have Mayor Tracy Honea negotiate an offer for the city to buy the property.

Broadhurst says the city could then use the property and give incentives to prospective buyers who may bring in higher revenues to the city.

"We don't have anything necessarily in mind, but we feel like the city has a vested interest in that property and are doing what we can to try and make sure we have a say in what happens," said Broadhurst.

Broadhurst says they hope to have their bid either accepted or rejected by the end of the month.

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