Business

Coral Ridge Younkers building sold, future plans uncertain

Furniture Mart owner pays $2 million for site

The former Younkers store at Coral Ridge Mall in Coralville on Thursday, Feb. 14, 2019. (Liz Martin/The Gazette)
The former Younkers store at Coral Ridge Mall in Coralville on Thursday, Feb. 14, 2019. (Liz Martin/The Gazette)
/

A South Dakota company has purchased the 98,000-square-foot former Younkers building at Coral Ridge Mall in Coralville for $2 million. But plans for the former anchor store have not been finalized.

Furniture Mart USA of Sioux Falls, S.D., made the acquisition Jan. 22 through Coralville Shores LLC, a company incorporated in Iowa on Jan. 17.

William Hinks, the founder of Furniture Mart USA, is listed as the managing partner.

The sale, which also includes an adjacent parcel of vacant land, occurred before a scheduled Jan. 28 auction of former Bon-Ton Stores buildings that would have included the Coral Ridge Mall property.

No plans have been disclosed for the building. Calls seeking comment from Troy Eichmann, chief operating officer of Furniture Mart USA, were not returned by deadline.

The Coral Ridge Younkers closed in August 2018 after Bon-Ton announced in April that it was shuttering stores and beginning liquidation sales.

Furniture Mart USA, founded in 1976, has grown from a single store in Siouix Falls to 40 locations in six states.

The company is ranked the 40th largest furniture retailer in America by industry publication Furniture Today.

ARTICLE CONTINUES BELOW ADVERTISEMENT

As a licensee of Ashley Furniture HomeStore in Arcadia, Wis., Furniture Mart USA operates several locations in Iowa, including a store at 3750 Williams Blvd. SW in Cedar Rapids. The company also operates the Furniture Mart store in Spirit Lake.

Give us feedback

We value your trust and work hard to provide fair, accurate coverage. If you have found an error or omission in our reporting, tell us here.

Or if you have a story idea we should look into? Tell us here.

Give us feedback

We value your trust and work hard to provide fair, accurate coverage. If you have found an error or omission in our reporting, tell us here.

Or if you have a story idea we should look into? Tell us here.