Million-dollar makeover starts at former Pier One store for new Kennewick retail outlet
The former Pier One Imports store on Columbia Center Boulevard is getting a $1 million makeover.
The property prominently located across from Columbia Center mall will soon reopen as a new Ulta Beauty store.
The Pier One outlet closed in Kennewick last year after nearly 25 years.
Nationwide, the company had filed for bankruptcy reorganization in February 2020, before COVID restrictions, and had hoped to keep about 450 stores, but was forced to liquidate when a buyer could not be found.
The Kennewick site was sold for $1.9 million in March to Argo Kennewick or Argnonaut Investments of California, according to county property records.
Argo Investments already has a broad range of retail and commercial properties in the Tri-Cities.
The commercial real estate investment management firm describes itself as focusing on the acquisition, management and redevelopment of neighborhood and community shopping centers in the western U.S.
Its Tri-Cities portfolio includes The Colonnade shopping area on Canal Drive in Kennewick that has Ross Dress for Less and Office Depot and the Court Street Plaza at 20th Avenue and Court Street with Albertson’s grocery and Rite Aid.
The company also owns Columbia Square in Kennewick where the new Ulta is going in the lot in front of Bed Bath & Beyond and TJ Maxx.
A lease at 1232 N. Columbia Center Blvd. filed with the Benton County Auditor’s office shows Argo Kennewick leased the property to Ulta Beauty for 10 years. Ulta has the option to extend for three renewal periods of five years each.
Ultra Beauty already has a location near Columbia Center mall that opened in April 2012 with a 10-year lease with Columbia Center Partnership that expired this month.
The lease had a renewal option but it’s not clear if that store will close and moved to the new location across the street.
A manager at the store referred Herald questions to corporate officials. A corporate spokesperson could not immediately be reached.
The Ulta chain opened its second Tri-Cities store in 2017 at Vintner’s Village at 2911 Queensgate Drive in Richland.
Ulta Beauty has nearly 1,300 stores across the U.S. including 34 in Washington. It carries 20,000 products and offers some salon services such as hair stylists and a brow bar.