Smithfield Fresh Meats Corp. has purchased the former Shopko building in Monmouth—once slated for a Hy-Vee grocery store—for $1.6 million to use as warehousing.
Hy-Vee abandoned plans for the site last year.
The transaction for the property at 1190 N. 6th St. appeared in recent Warren County Clerk and Recorder’s Office postings.
Senior Director of External Affairs Ray Atkinson confirmed to WGIL that Smithfield bought the building, which is adjacent to its facility, for storage.
“It allows us to achieve new efficiencies by replacing warehousing capacity that was previously handled off premises by a third party,” Atkinson said.
City Manager Lew Steinbrecher told WGIL that Smithfield has not inquired about Tax Increment Financing incentives, though the property is in a TIF district.
Eligible expenses, such as acquisition or redevelopment costs, could qualify for rebates, Steinbrecher said.
He reiterated the city’s interest in retail development for resident needs and sales tax revenue but added that uses supporting economic development—including Smithfield’s warehousing expansion—are welcome.
