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The site was vacated by Scott, which opened its new $3.5 million, 3.2ha facility in Kaikorai Valley Rd, last October.
Construction company Lund is expected to have completed the stage one 600sq m office space by May.
Stage two, a 1300sq m bulk retail space, was expected to be completed towards the end of the year, Oakwood Properties director David Marsh said.
Mr March said several retailers had expressed interest in the space.
Most were established, out-of-town businesses.
Parking for almost 60 cars was a key attraction, he said.
The interior will be completely renovated, but the footprint of the building and its exterior walls will not be changed.