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Real Estate
Home Depot selling property that was potential store site

Area outlined in this aerial photo shows the property along Bethel Road in Port Orchard owned by Home Depot that is for sale. (Photo courtesy Home Depot)The site where Home Depot once had considered building a store in Port Orchard is now for sale, with an asking price of $7.4 million for the 20.74-acre property south of the Walmart supercenter on Bethel Road.

“We’re opening very few new stores,” said Brian Cannard, real estate manager for Home Depot in Seattle. He said the Port Orchard location — which was purchased before the recession — did not have sufficient sales projections for the company to invest in building a store there.

The property, listed in April with Northwest Retail Partners, consists of several parcels that Home Depot purchased separately several years ago. Of the 20.74 acres, only about 12 acres is usable for development, in accordance with a wetlands plan that was approved by the Corps of Engineers and remains in effect for the property.

After Home Depot purchased the property, which was outside city limits at the time, the company opted to hold off on its building plans until the city of Port Orchard completed its Bethel Corridor annexation. That annexation was approved in late 2011, but since then Home Depot has decided not to build a store on Bethel.

“We tried to make it work, but unfortunately it’s not going to be one that’s opened,” Cannard said.

There are three Home Depot stores on the Kitsap Peninsula, in Poulsbo, Silverdale and Gig Harbor.

As for marketing the Port Orchard property, Charlie Footh of Northwest Retail Partners said the site’s approved wetlands plan is a plus for any interested developer, along with the property’s annexation into the city. He also said it’s a prime location with cross-access allowed to the adjacent Walmart lot and the ability to have a service road coming into the south side of the property off Salmonberry Road.

The only site work completed since Home Depot purchased the land was removal of some old houses and other structures.

“It’s relatively ready to go,” Footh said. “It’s a great piece of property, given its location.”

As for whether Home Depot would only sell the entire property or might sell smaller parcels of it, Footh said “We’ll consider all offers.”

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