Developer purchases Lowe's property

The Lowe’s Home Improvement Warehouse property in Kenai has been sold.

Lowe’s representative Natalie Turner confirmed that JL Properties recently purchased the property located between Marathon Road and Airport Way.

Lowe’s closed its doors in Kenai in August of 2011, along with six other stores around the United States. The building has been vacant since then.

Lowe’s first announced it’s plans to build the store in January of 2006, though construction was put off until 2008. The store opened in November 2008.

JL Properties currently has no plans for the former Lowe’s property, a representative said. According to its website, JL Properties primarily purchases distressed properties and is the largest real estate development and management firm in Alaska.

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