Home improvement retailer Menards isn’t saying why it bought the 2.2-acre property next to its store in Richfield, Minn., according to an article in the Minneapolis Star Tribune. But there’s much speculation that the Eau Claire, Wis.-based retailer, which has torn down other stores and rebuilt bigger units, might have the same plans in Richfield, a suburb of the Minneapolis-St. Paul twin cities.
Menards paid $5 million for the land, which currently holds a Chinese restaurant. A Richfield city official said that the retailer has already expressed an interest in expanding its local store. Last month, Menards opened a teardown/rebuild unit in Eden Prairie, Minn., and the company is getting ready to raze a 128,000-sq.-ft. store in Golden Valley and replace it with a two-story, 250,000-sq.-ft. store, according to the newspaper.