Archive for Chester

Aug
14

806,000 SF Industrial Lease Signed

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Newmark Grubb Wilson Kibler, a leading real estate services firm, is pleased to announce the recent lease transaction of 806,000 square feet at 648 Wilson Street in Chester, SC. The building, which is situated on 35 acres, was built in 1973 and has 12 foot clear height.  The tenant, International Auto Logistics (IAL), a subsidiary of International Auto Processing (IAP), stores and maintains private vehicles for military personnel serving overseas.

George McCutchen, CCIM, SIOR, of Newmark Grubb Wilson Kibler, represented the Landlord, Breton Equity Corporation.

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Jul
26

Bi-Lo Grocery Store in Chester Sold

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TNP Strategic Retail Trust, Inc. (the “Company”), a public non-traded REIT that invests in grocery and drug-store anchored, multitenant necessity retail properties and other real estate–related assets, announced today the acquisition of a BI-LO grocery store, a 45,817 square foot freestanding building, located within the Chester Plaza Shopping Center in Chester, South Carolina.

Originally constructed in 1991, BI-LO remodeled and expanded the property by more than 15,000 square feet in 1999, adding a bakery, cafe and pharmacy. BI-LO will implement its “Clean and Bright” store modernization and upgrade program, spending approximately $1.5 million at the Chester location, including exterior paint, new signage, installing new wood flooring in the produce department and increasing marketing and coupon programs. These upgrades are anticipated to increase sales by approximately 20 to 25 percent. BI-LO has occupied this center for more than 19 years and has a long term lease in place through 2019 with options through 2039.

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Jul
27

Great Falls Textile Mill Sale Leads to a Lawsuit

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July 27, 2008

By Charles D. Perry – Herald Online

The town of Great Falls is suing a Chester County commission over the sale of one of the town’s old textile mills, the town’s attorney says.

The lawsuit, filed Friday afternoon, alleges the county’s Forfeited Land Commission doesn’t have a viable contract to sell the Republic Mill No. 2 to Virginia businessman Don Saulsgiver, said Arthur Gaston, the town’s attorney in the case.

Gaston said the property may not have been sold properly and the county would be best served by dealing with all potential buyers, not just Saulsgiver.

Most town and county leaders want the commission to sell the site to Bob and Nancy Harllee, who hope to build a hotel and senior living center in the mill.

The Harllees’ project involves nearly $20 million. Saulsgiver has proposed spending about $2 million on his venture, which until recently involved a plastics recycling operation.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.heraldonline.com/109/story/707625.html
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May
16

No Wal-Mart for Chester

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Wal-Mart won’t ‘Super-size’ in Chester

May 16, 2008

By Stephen Guilfoyle – Onlinechester.com

Wal-Mart is not going to build a supercenter in Chester County.

A company spokeswoman said the retail giant amended its business plan right about the time it was looking at Chester. That changed business plan led to a decision, made about a month ago, not to build a new store in Chester.

One of the company’s real estate arms had looked at a site on the J.A. Cochran Bypass across from the old mall and Pizza Hut, but it was a site that needed wetlands permitting.

The N&R broke the story Oct. 26 of Wal-Mart’s interest, which actually required an Army Corps of Engineers wetlands study.

Wal-Mart had announced its revised business strategy Oct. 23.

“We have dropped the plans for the store in Chester,” Tara Stewart, a public affairs specialist with Wal-Mart, said on Tuesday. “It was a business decision.”

Stewart sent two press releases which she said explains the company’s thinking about Chester.

The statements were about the company as a whole and did not mention Chester, or any specific location, by name.

According to one release, Wal-Mart operations in the United States are “focused on supercenters.”

“Wal-Mart is executing the plan announced June 1, 2007 to moderate its U.S. supercenter growth,” and it plans to open 195 supercenters in the United States this year, down 30 percent from the 281 opened during last fiscal year. Projections for next fiscal year and the following year call for 170 and 140 supercenters respectively, including expansions and relocations, a release from the company says.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://www.onlinechester.com/cgi-bin/storyviewnew.cgi?155+NewsLocal.2008515-4751-155-155007.Lead+NewsLocal
Categories : Chester
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