OAKLAND, CA-Ralphs Grocery Co., a wholly owned subsidiary of supermarket chain, the Kroger Co., acquired 4.95 acres as part of the redevelopment of Foothill Square, a 13.5-acre commercial mixed use project located just west of I-580 here in southeast Oakland. The $45-million project is being developed by Jay-Phares Corp. on behalf of MacArthur Boulevard Assoc.
Construction financing will be provided by Bank of the West. Ralphs/Kroger will be building a 72,000-square-foot FoodsCo Market-Drug.
According to a prepared statement, it is expected the project will employ as many as 500 people and provide significant new revenue to the City of Oakland. Construction will begin immediately for completion in early 2013.
Foothill Square was originally developed in 1961-1962. The redevelopment will include the demolition of over 60,000 square feet of existing buildings.
Upon completion of the redeveloped center it will contain 10 buildings having over 202,000 square feet of building area. More than 1,000 linear feet of new facades will also be constructed on existing buildings to remain after redevelopment.
Other tenants will include Ross Dress for Less, Anna’s Linens, Rainbow Apparel, a new DaVita Hemodialysis Clinic, and the second largest Headstart Parent Child Center in the San Francisco East Bay operated by the Unity Council, Oakland’s second largest non-profit, after Kaiser Permanente, according to a prepared statement. Twenty other tenants will also participate in the project including a bank and new restaurants.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.