Featured Pic: Foodland has got curb appeal

4 Responses to Featured Pic: Foodland has got curb appeal

1. 

   Adam March 11, 2011 at 8:50 pm #

   matt, who owns this property? are they asking for an exorbitant amount of money or is there just no interest? i can’t believe that such a prime location — adjacent to lafayette square, benton park and fox park — has been idle for so long…

   anyway, just wondering.

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     Matt Kastner March 11, 2011 at 9:53 pm #

     It’s listed for $2 million on Loopnet. I always heard that the current owners are somehow connected to Schnucks and that although there has been interest by a few other grocers through the years, but they refuse to sell to them. Don’t know if that is just one of those rumors or if there is some truth to it, but there is no doubt it is a critical parcel. I plan on doing a couple focus articles on this property and some of the glut of vacant commercial just south of 44 on Jefferson in the near future. Maybe I’ll find out more specifics when doing that research.

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   Jim Reid March 18, 2011 at 1:37 pm #

   I looked into this a bit and according to the City of STL website, the property owner is “FT-KRG (ST LOUIS) LLC”, which happens to be a subsidiary of public company, Winthrop Realty Trust. I took a quick look at the company’s 10-K and there is a note that on 2/8/11 they entered into a contract to sell the property. They expect the sale to be completed in the 2nd quarter of 2011. Interesting.

   The city website also mentions that there an occupancy permit issued in March 2010 for a charter school at this location.

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     Matt Kastner March 20, 2011 at 1:23 pm #

     Hmmm. I had asked around a few places about the building and was told that there would soon be a food coop in the parking lot. I hope you are right about the place being under contract though.

     Reply

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