A church with locations in Iowa City and North Liberty has purchased a 58,420-square-foot section of Pepperwood Plaza in Iowa City, at 959 Highway 6 E, that houses the Stuff Etc. consignment store.
Parkview Evangelical Church, which has been leasing space in the back of the building at 1030 Cross Park Ave., bought the property on June 21.
The $3.5 million sale price paid to Pepperwood Plaza LLC was the highest paid for a single commercial property in Iowa City this year, according to the Iowa City Assessor’s online database.
Parkview’s leased space houses Faith Academy, an 88-student school, and provides a location for about 200 people for worship services each Sunday.
Parkview will expand into the space vacated by Stuff Etc when it moves in early February.
The congregation, which also meets at 15 Foster Rd. in Iowa City and 70 Kansas Ave. in North Liberty, has grown rapidly since moving into the Foster Road location.
Constructed in 1986 as part of the Pepperwood Plaza shopping center, the building purchased by Parkview originally housed a Best Buy store. The national consumer electronics retailer vacated the space after it signed a lease at Coral Ridge Mall in 1997.
Other tenants in the structure — Angel Nails, Express Fitness and the Iowa City Police Department’s substation — will not be effected by the change of ownership. Slumberland Furniture and the U.S. Postal Service are located in an adjacent building that was not part of the sale.
ARTICLE CONTINUES BELOW ADVERTISEMENT
Stuff Etc in June announced it plans to move to a 24,000-square-foot space in the remodeled 97,000-square-foot former Kmart building nearby, at 851 Highway 6 E.
Sara Sundblad, Stuff Etc director of operations, said the new space will be roughly the same as its current location, but rectangular as opposed to the existing L-shaped store.
“We will have a storewide half-price sale toward the end of January,” Sundblad said. “The goal is to clean out a lot during that sale to have less stuff that we have to move.
“We aren’t moving it very far, but we are moving it in the middle of winter in Iowa. We feel a solid rectangular space will be easier to merchandise, and we’re really excited about the move.”
Also moving to the former Kmart building are Planet 3 Extreme Air Park and Crowded Closet, a thrift store and gift shop. Planet 3, a trampoline park, will take about 25,000 square feet and Crowded Closet will move into the remaining space from its current location at 1213 S. Gilbert Ct. in Iowa City.