REAL ESTATE

CBRE: VERTS expands to Dallas and Houston

BY Michael Fickes

Austin, TexasCBRE has announced three more Austin-area locations for local fast casual restaurant VERTS, bringing its store count to 10. In 2014, VERTS plans to open 13 new locations, including expansions into Dallas and Houston.

The newest locations are in North Austin. Locations in Round Rock and Cedar Park will open in the next two months.

In Houston, VERTS has signed leases at Washington Heights, Vintage Marketplace, River Oaks Plaza and Cyfair Town Center, and there are more on the way.

The first Dallas-area location will open at Jellico Square in Southlake.

VERTS is built around Döner Kebap, Germany’s favorite street food, and is one of the first to bring authentic Döner Kebap to the United States. CBRE is the exclusive tenant representative for VERTS throughout Texas.

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REAL ESTATE

Whole Foods opens two stores in Chicago area

BY Michael Fickes

Chicago — Two new Whole Foods Market grocery stores will be coming to Shops on Main and Hinsdale Lake Commons, according to Regency Centers, the owner of both centers.

Currently under construction for opening this spring, the Shops on Main is a 200,000-sq.-ft. community shopping center in Schererville, Ind., which is located 25 miles southeast of downtown Chicago. An additional location benefit is the centers’ strategic location at the intersection of two main arterial roads, U.S. Route 41 and Main Street. Whole Foods Market will be joining other previously announced tenants, including Gordmans, Ross Dress for Less, HomeGoods and DSW Designer Shoe Warehouse, in a 40,000-sq.-ft. space.

The 178,960-sq.-ft. Hinsdale Lake Commons center is located in Willowbrook, Ill., at the intersection of Robert Kingery Hwy (SR 83) and 63rd Street, approximately 22 miles southwest from Chicago. The center serves a local population of more than 100,000 with 67,000 – plus vehicles per day trafficking the intersection. Whole Foods Market will take over the 69,540-sq.-ft. space vacated by the recently closed Dominick’s Finer Foods. Other tenants in the center include Hallmark, Phillies Pizza Bar & Grill, and LaVida Massage.

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News

Bi-Lo, Delhaize get green light on acquisition

BY CSA STAFF

Bi-Lo Holdings and Delhaize Group have received approval from the Federal Trade Commission to proceed with the transaction in which Bi-Lo Holdings will acquire substantially all of the stores in the Sweetbay, Harveys and Reid’s supermarket chains from Delhaize.

Bi-Lo Holdings agreed to divest 12 Delhaize America stores in the states of Fla., Ga., and S.C., and Delhaize Group has agreed to retain two additional stores and convert them to the Food Lion banner, pursuant to a consent order accepted by the FTC for public comment on Feb. 25. The order is subject to final approval by the FTC after the close of a 30-day comment period.

“We have been preparing for the integration of the Sweetbay, Harveys and Reid’s banners and store associates for many months and are delighted to now move forward and welcome them to the Bi-Lo Holdings family,” said Randall Onstead, president and CEO of Bi-Lo Holdings.

Bi-Lo Holdings initially acquired the Sweetbay, Harveys and Reid’s chains from Delhaize for $265 million in May of 2013. The deal at the time included 72 Sweetbay stores, leases for 10 prior Sweetbay locations, 72 Harveys stores and 11 Reid’s stores, for a total of 165 stores throughout the Southeast.

Following news of approved acquisition, Bi-Lo said it plans to close eight of the acquired Delhaize America and five Bi-Lo Holdings stores because of close geographic proximity.

“Given the number of stores we are acquiring, we anticipated that we may be asked by the FTC to divest some stores to close the deal. In addition, with the close proximity of some of the Bi-Lo Holdings and Delhaize stores, we also knew that we would have to close a few stores as part of the acquisition,” said Onstead. “We appreciate the many contributions our associates in these stores have made, and we will ensure they are treated respectfully and have the opportunity to pursue other open positions in nearby stores.”

The stores planned for closure are as follows:

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