Archive for Chester
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.
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:
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.