According to news, officials check pricing to see if the discontinued Kroger Marketplace on Tylersville and Cox Roads in West Chester Twp. It can be rejuvenated in the new world resulting from the Coronavirus pandemic.
Ryan Artel, now a consultant to Regency Centers – owner of the Kroger property at the current location and conversations with the grocery giant are ramping up after the deal collapsed last summer.
Things have changed drastically during the pandemic as companies have been forced to close due to strict health mandates, and now everyone is trying to get hold of land. Ertel said he should know more in about a month’s time if negotiations can be resumed in earnest.
We are still exploring it,” Ertel said. “It is clear that there have been some changes with the epidemic and we are just trying to explore that and see what the new world looks like.” “We are interested in that the parties that participated before seem excited to reach an agreement and that is what everyone is trying to do.” There were many moving parts and parties involved in trying to build a new market of 117,166 square feet. The deal was conditional on Regency Centers’ ability to acquire the former West Chester Twp. The center of activities is on Cox Road, Providence Bible Church, a sliver of cheese from Chester wood Village, easements and agreements with about 10 other property owners to complete the complex transaction. The trustees agreed to sell the Activity Center where programs for seniors and other groups were housed for $ 1.8 million in September 2019. The Regency requested an extension of the due diligence period to finalize other deals last March, but canceled the purchase agreement with the township last August. At the time, Guardian Mark Welsh said, “Kroger is basically choking on the rental price.” The activity center remained vacant, but Larry Birx, the town manager, said that while calling Ertel, they also obtained verbal quotes of around $ 100,000 for the site to be demolished in the event that the Kroger deal could not be completed.
“We might go ahead and do this just to get him out of the way so we can enjoy more offers on the property,” Burks said. “Sometimes when people see movement or activity in the property and the old building collapses, it can arouse more interest.” Kroger officials have not confirmed whether there have been resumed negotiations, but Welch said he hoped they would eventually be able to seal a deal. What are your thoughts on it? Let us know in the comment section below!