July 17,2018-
JR Shannon wins bid for COS land on Mooney
Legacy Investments, owned by JR Shannon, has won the bidding to buy land owned by the College of the Sequoias on Mooney Blvd.
The location is the former parking lot across from the college at Myrtle and Mooney, adjacent Habit Burger.
Shannon, a Visalia-based developer, won out over developer David Paynter, just edging out his competitive bid.
The bids received July 2, 2018, were Legacy Investments for $1,125,000 and LA-based Paynter Realty for $1,100,000.
The surplus land,Parking Lot Number 5, is 35,779 square feet and zoned for commercial development. It is considered likely Shannon will work to attract a restaurant tenant to the site.
Shannon has recently developed several Downtown Visalia properties and wants to redevelop the city-owned Main St Theater.That proposal faces an uncertain future with the decision by the city to allow the Enchanted Playhouse to make a bid.
Paynter Reality has several Mooney properties including the Kohl center,Sequoia Mall, the Dicks Sporting Goods-anchored center and the Walmart-based shopping center.
At a special board meeting July 16 the college board accepted Shannon’s bid for the Mooney land.
Auto Zone buys vacant Walgreen building
Auto Zone has purchased the vacant Walgreen’s store at 1407 N Dinuba Blvd at Houston in Visalia. The price was $1.6 million recorded June 8.
Walgreen’s closed the northside location earlier this year. There is another store at Riggin and Demaree. Last year Walgreen said it would close about 600 stores nationwide.
Auto Zone has a store virtually across the street from the new property, but a fraction of the size.
A store employee said they had not been informed when they would relocate.