Bed Bath & Beyond finds temporary home

FORT COLLINS – Bed Bath & Beyond (NASDAQ: BBBY) in Fort Collins has found a temporary location while its main store at 110 W. Troutman Parkway is under repair.

The company plans to occupy the former Steele’s location at 802 W Drake Road in Fort Collins.

Dave Larson, a partner with The Legend Retail Group in Denver and broker for the former Steele’s space, said Bed Bath & Beyond plans to open the doors at their temporary location by July 1.

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“Bed Bath & Beyond is very committed to their customers in the area,” Larson said. “The move is perceived as inefficient, but it is really important for Bed Bath & Beyond to provide a store in Fort Collins.”

A source that requested anonymity confirmed the domestics retailer is setting up a temporary location in Fort Collins.

The source expects the Troutman Parkway building to re-open in late August or September, depending on steel delivery. The roof collapsed during the March snowstorm that dumped three feet of snow and damaged up to 100 roofs in the city.

Forensics on the building performed by the insurance company showed the roof drainage system operated properly during the storm. If the system had faltered, the supporting walls would have been compromised. The forensics report showed there was no exterior wall damage.

The building was built in 1979 and was occupied by the Best catalog store until the corporation filed for bankruptcy in 1998. The 67,000-square-foot building was remodeled in 1999 when Bed Bath & Beyond and Old Navy moved in to the space.

Based on estimated an average sales per square foot for the two retailers nationwide, the two-and-a-half month long closure has cost at least $3.5 million in sales for the combined operations.