Drivers who either enter or exit Waverly via U.S. Highway 218 on the south end of the city might notice something missing as they pass the intersection of Fourth Street and 29th Avenue Southeast.
A demolition crew has taken down the office and shop buildings for the former Titan Machinery location in Waverly to clear the way for the land to be redeveloped into potential retail and restaurant outlets. Wednesday morning, heavy equipment was seen grabbing the siding and other materials from the knocked-down facility and putting them into a dump truck to be hauled away.
Chris Fischels, owner and broker of the Fischels Commercial Group in Waterloo, which is marketing the site for redevelopment, said the site is being divided into five lots.
“We’re marketing to a number of restaurant users, banks, credit unions, retail-type presence,” Fischels told Waverly Newspapers by phone Wednesday. “We’re going after a different market.
“Those buildings were taken down for the purpose of redevelopment and putting a new structure up there. We’re marketing it to potential customers who would be interested in having the developer build them or purchase the ground and have their own building there.”
Fischels said there has been a lot of interest in the site. However, he added for the prospective restaurants looking to locate there, COVID-19 has made it difficult to keep their current businesses running.
“We’re optimistic we’re going to get a restaurant in one of those two spots (in the front of the site),” he said. “We’ll get them sold or potentially leased. We’ve been getting some good feedback of some businesses looking at them.”
In addition to the two lots along Fourth Street, there would be another two behind them as well as one more near Kwik Star South. Fischels said the two he’s handling could be purchased for about $12-15 per square foot.
“I’ve been fielding a lot of calls,” Fischels said. “The traction’s been good.”