New Retail Development in Schererville (Highland, Munster: real estate, 2013, leases)

[svillechris]

Folks in Lake County driving on 41 recently may have seen a sign for a new retail development where the currently unoccupied Krispy Kreme building is located. It appears they're going to tear down that building (thank god) and build a new smaller retail center. There's a link with very basic information and a picture of the planned building below. I'd be interested to know what tenants will be filling this space. I'm no real estate agent but the picture makes it look like there's about 10 spaces in the building and it says 1 space available so I would have to think most have already been filled. With this, coupled with the plans for building Shops on Main moving forward, it looks like things are finally headed in the right direction again.

320 US Hwy 41, Schererville, IN, 46375 - Strip Center Property for Lease on LoopNet.com

[Northwest Indiana]

Yes! Saw that a while ago. If the development is like that, then I don't think an Olive Garden will work there as you previously had been told. However, I hope some good places come.

[richb]

It would be a max of 7 storefronts. Minimum of 2,000 sq. ft. per unit. They are adv. the whole building, so I doubt they have any signed leases. Hopefully they won't regret putting coming spring 2013 on the sign. Olive Garden was always a rumor, they would have to have a 3 way liquor license (very hard to get) before even thinking of being in Schererville.

[Mads912]

[Northwest Indiana]

Will now be a new location for Accelerated Physical Rehabilitation Centers...they have quite a few NWI locations already so business must be getting much better!

[tvida42]

You know, speaking of shops of Main - do you think there's a snowball's chance that we'll get a Trader Joes?

[Northwest Indiana]

Originally Posted by tvida42

You know, speaking of shops of Main - do you think there's a snowball's chance that we'll get a Trader Joes?

At this point, it is a toss up.

[svillechris]

Originally Posted by tvida42

You know, speaking of shops of Main - do you think there's a snowball's chance that we'll get a Trader Joes?

I doubt it. Whole Foods recently came out and said they have no plans of opening up a store in NWI due to the demographics. Considering the fact that the target market for TJ is comparable to that of Whole Foods, I'd be surprised to see Trader Joe's come here. I hope I'm wrong.

[tvida42]

You know, Whole Foods really oughta throw us a bone: their distribution center is based in Munster! Actually, I don't really care about Whole Foods: overpriced for my budget. But man do I miss Trader Joes. Although, I have to say, my husband and I awaited the opening of Munster's Chipotle with almost as much excitement as the birth of our second child. Guess how many times we've been since it opened: exactly once! Goes to show how you adapt to your surroundings and find new things to love. Like Albanese Candy: ooooo, now I'd LOVE to see another Albanese shop open up this way: it's pretty far to the ones on 30

[richb]

Not a chance on Trader Joes. They have said no repeatedly. I have talked with both TJ and WF real estate guys personally. Sorry to rain on peoples parade.

The high level of competition in grocery stores in NW Indiana have pushed the overall prices to much lower levels then either TJ or WF want to go. In that way we should be happy we have lower food prices then the rest of the Chicago area (just look at the prices at Meijer in Highland compared with a Meijer in Bolingbrook, its not just because of the lower tax rate). I think that is a bigger factor then even the income levels they use to say they don't want to come.

The fact that WF warehouse and office in NW Indiana has nothing to do with having local stores. Its largely a tax and business climate decision, they save a fortune by being here then in some business park in Illinois or Wisconsin. The warehouse serves most of the Midwest.

Shops on Main will not have larger stores. The largest size is too small for a grocery. Shops on Main will be mostly mall type stores in an outside "lifestyle center" format. The "anchors" will be no larger then midsize box store. Restaurants will be the real anchors in "Shops on Main". Oak street shops had a larger size anchor space (100,000 sq. ft) but I think that project is dead for good.