The center will be built on the site of a Kmart that was closed about a decade ago, when a Kmart Supercenter was built at the nearby Westland Town Center, also along West Colfax Avenue. However, the Kmart Supercenter, a huge anchor for the center, will close this year also, a victim of Kmart's bankruptcy. It is one of 316 Kmart stores being closed nationwide by the Troy, MI-based retailer.
The Wal-Mart will help offset some of the retail sales tax lost by the Kmart, which is Lakewood's third-largest revenue generator.
Last December, however, Lakewood City Manager Mike Rock told GlobeSt.com that there were some fears that Wal-Mart would not be able to acquire the land it needed at a low enough price to make the deal work. Now, the center is scheduled to open in 2004.
In Colorado, there already are 20 Wal-Mart stores, 22 Supercenters and 12 Sam's Club warehouse stores.
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