OAKLAND, CA-Ralphs Grocery Co., a wholly ownedsubsidiary of supermarket chain, the Kroger Co.,acquired 4.95 acres as part of the redevelopment of FoothillSquare, a 13.5-acre commercial mixed use projectlocated just west of I-580 here in southeast Oakland. The$45-million project is being developed by Jay-PharesCorp. on behalf of MacArthur BoulevardAssoc.
Construction financing will be provided by Bank of theWest. Ralphs/Kroger will be building a 72,000-square-footFoodsCo Market-Drug.
According to a prepared statement, it is expected the projectwill employ as many as 500 people and provide significant newrevenue to the City of Oakland. Construction will beginimmediately for completion in early 2013.
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