CHICAGO—American shoppers increasingly look for food options beyond those provided by traditional grocers like Jewel-Osco, Dominick's or Kroger's and instead, hunt for stores that can provide organic or fresher foods. The Opus Group and the village of Glen Ellyn have made use of that craving by bringing in The Fresh Market as an anchor tenant for a new 31,175-square-foot retail center at 285 Roosevelt Rd. just west of Lambert.
“There's a niche that they think they can fill,” says Sean Spellman, vice president and general manager of Opus Development Company, L.L.C. The Fresh Market, which Opus will finish in late 2013 and open later in the year or in early 2014, will occupy 20,300-square-feet in the center.
Fresh Market has spread its 131 stores across dozens of states and will have nine in Illinois following the opening of the Glen Ellyn site and one in Lincolnshire, which the company will open on June 19. Their success in attracting customers has shown up on the bottom line. During the latest fiscal quarter, the company brought in $366 million of revenue, a 13% increase from the first quarter of 2012.
“As these types of retailers look to expand, they typically choose to expand into well-established communities like Glen Ellyn,” Spellman adds. “I'm not equating well-established to income, but I am equating it to a strong, high-density, residential base.”
The balance of the center, now 75% leased, will fill up with service-oriented retail. Great Clips and Tide Dry Cleaners, for example, have agreed to occupy 1,075 and 2,800-square-feet, respectively.
Opus Design Build, L.L.C. will serve as the general contractor and OKW Architects has provided architectural services.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
