The specialty grocer market remains a hot one across the Midwest. Marcus & Millichap Real Estate Investment Services recently cited expansion plans by Trader Joe’s and Whole Foods as providing a significant boost to the retail sector in Minneapolis. And late last year, the company said the same thing about the Milwaukee market, which has seen increased competition among specialty grocers and the grocery offerings of such big-box stores as Wal-Mart and Target.
Chicago, too, has seen its share of new grocers entering the market.
Steve Frishman, principal and vice president with Oak Brook, Ill.-based Mid-America Real Estate Group, said during the TCN Worldwide Conference earlier this year that customers in Chicago and its suburbs are flocking toward smaller, independent grocery stores that offer gourmet, pre-made meals.
He points to Mariano’s Fresh Market. These stores always draw a crowd when they open in the region, he said.
“Mariano’s is the big name right now,” Frishman said. “They become the talk of the town when they open up.”
Now a new specialty grocer is entering the Chicago market, with The Opus Group begining construction of a new 31,175-square-foot grocer-anchored retail center in the suburb of Glen Ellyn. The Fresh Market grocer is serving as the anchor tenant of this development, set to occupy 20,300 square feet of space.
“The Fresh Market is one of the most active grocers in the Chicago market, and we’re thrilled to be working with them and the village of Glen Ellyn to bring their store to the area,” said Sean Spellman, vice president and general manager of Opus Development Company, in a written statement.
The project will turn a vacant car dealership into a retail center that includes patio seating and 186 customer spaces. The center is already 75-percent leased with additional tenants including Great Clips and Tide Dry Cleaners. This will mark the first Tide Dry Cleaners in the Chicago area.
Construction on the project is scheduled to wrap up in late 2013, with The Fresh Market store expected to open in late 2013 or early 2014.
And it’s clear that the new Fresh Market won’t be the last specialty grocer to set up shop in Chicago. This is one trend not ready to slow.
