ADVERTISEMENT

ADVERTISEMENT

First State Southwest Bank purchases long-vacant property

WORTHINGTON -- A highly visible corner commercial property has a new owner after sitting vacant for nearly five years. First State Bank Southwest recently purchased the vacant property at 1401 Oxford St., which sits on the northeast corner of Oxf...

110318.N.DG_.FSBSWELCOMESIGN.jpg
A rendering of what the First State Bank Southwest welcome sign is expected to look like. (Submitted photo)

WORTHINGTON - A highly visible corner commercial property has a new owner after sitting vacant for nearly five years.

First State Bank Southwest recently purchased the vacant property at 1401 Oxford St., which sits on the northeast corner of Oxford Street and Humiston Avenue - one of the busiest intersections in Worthington.

“It’s exciting to have it now and to be moving forward,” said FSBS President and CEO Greg Raymo about the recent transfer of ownership after months of negotiation.

According to public records, the bank purchased the property for $450,000 from a number of members of the Darling family.

According to Johnson Builders and Realty, the property - which had most recently facilitated a mattress store before being vacated - had been on the market for 1,799 days before its purchase.

ADVERTISEMENT

The immediate plan, Raymo said, is to demolish the vacant building that sits directly west of the bank’s Oxford Street location and curb it in to create irrigated green space.

The landscaping will include a large First State Bank Southwest “Welcome to Worthington” sign and flour flagpoles, which will wave American, Prisoner of War (POW), Minnesotan and Worthington flags. The sign structure and flagpoles will all be lit at night.

“We think it’s going to be a very welcoming site to the people visiting our community,” Raymo said.

Johnson Builders is contracted to begin demolition as early as next week, with the goal of completing much of the concrete work yet this fall before finalizing the irrigation in the spring.

While the green space is what’s guaranteed thus far, Raymo said it wasn’t what drove the purchase.

“If we want to expand our business here, that's the direction we have to go,” Raymo said.  

While there are no concrete plans to do so at the present time, Raymo is hopeful.

“We’re bursting at the seams right now here,” he said. “We don’t have any internal space left, so we’re really hoping that’s a future expansion possibility.”

ADVERTISEMENT

According to Worthington Community/Economic Development Director Jason Brisson, the city’s paper trail for that property dates back to a request to improve a Family Dollar Store at that location in 2001. In 2010, the city issued a sign permit for a Furnish 123/Furniture Outlets USA.

The latest activity before the recent purchase was in 2017, Brisson said, when the city received inquiries about possibly opening a Domino’s Pizza and Caribou Coffee at that location. The idea never came to fruition.

What To Read Next
Newspaper industry peers from the Kansas Press Association judged the 3,453 contest entries submitted from 132 Minnesota newspapers.
Louis and Cyril Keller are the inventors of the Bobcat skid-steer loader and were selected as 2023 inductees into the National Inventors Hall of Fame.
Awards were announced during Friday’s annual FORWARD Worthington Extravaganza at Lerma’s Event Center.
“They’re totally new. They’re sophomores, they’ve never competed in BPA.”