Wal-Mart falls out of escrow

The old Wal-Mart building in Carson City is back on the market.

Jerry Vaccaro of Capital City Liquidators was in the process of purchasing the building, but the deal has fallen through. C.B. Richard Ellis, brokers for the property, are sending out solicitations and accepting offers, Carson City Supervisor Shelly Aldean said late Thursday.

Aldean said she was not in a position to know all the issues, but expressed optimism.

"We were hoping that deal would be consummated. This development is unfortunate, but we're going to pick up and carry on," she said.

Complications arose concerning the sale Feb. 4, when Vaccaro filed a lawsuit in Carson District Court, claiming Wal-Mart Realty and real estate broker Mike Giusti conspired with contractor Ron Weddell to break up his deal to purchase the now-empty store on South Carson Street.

In the complaint, Vaccaro claims he suffered damages in excess of $10,000 because of the conspiracy to break up his real estate deal. The lawsuit asks for damages, plus an order that Wal-Mart sell the property to him, "pursuant to the terms of the original contract."

Aldean said Wal-Mart is sending out solicitations to everyone who previously made offers to purchase the building. Carson City Supervisor Pete Livermore said local businessmen received letters from Wal-Mart officials as early as Feb. 10.

"It's nice, that people are squabbling over property and the right to buy it, but this delays putting it back into productive use," Aldean said. "I'm heartened by the fact that people are interested and I'm optimistic, that the next buyer will close escrow."

Mayor Ray Masayko said he is cautiously optimistic and lauded Wal-Mart's efforts to market the building.

"Wal-Mart is aggressively working around the issue of this failed sale," he said. "By doing so, they're demonstrating their commitment to a partnership with this community."

Wal-Mart decided to relocate its Carson City store after failing to negotiate an agreement with Raley's supermarket, which would have allowed it to expand. The company left behind an empty, 119,000-square-foot building near the northeast corner of Clearview Drive and South Carson Street that Wal-Mart spokeswoman Amy Hill said shouldn't "be vacant long."

Wal-Mart moved its store to Douglas County and took an estimated $1 million in sales tax revenue -- roughly 2.5 percent of Carson City's $40 million budget.