On Friday, I emitted a rant.
There was this interesting comment …
Did we overhear Kroger managers talking about the company’s plans to move the Kroger gas station to the Hardee’s site?
If so, shouldn’t Kroger pay for the demolition and site remediation?
Even though the city sold a relatively new fire station for much less than the replacement cost to allow Kroger to expand?
This morning over coffee, it was time for some research, prompted by this timely report from another helpful friend who agreed to hit the Internet for me. Let’s have a look at the properties involved …
The Hardees lot is a separate parcel cut from the large State Street Plaza lot. Both are owned by “New Albany Plaza LLC” using Kevin Schreiber as their listed agent. Kevin Schreiber is part of “The Shopping Center Group” – see: http://theshoppingcentergroup.com/people/kevin-schreiber/
Kroger is now listed as the owner of the former fire house lot using their holding company used for retail land purchases:
“Kroger Limited Partnership 1, through its General Partner KRGP, Inc., doing business as Kroger.”
The Principal Officers are as follows:
President/COO: David B. Dillon of 1050 East Rookwood Drive, Cincinnati, OH 45208
Sr. Vice President/Secretary: Paul W. Heldman of 1135 Edwards Road, Cincinnati, OH 45208
Vice President/Treasurer: Scott M. Henderson of 10548 Secretariat Drive, Union, KY 41091.
And a bit more:
The existing Kroger store lot is currently owned by an entity named “B B W T, Inc.” – I can’t find out any information about that group, and I don’t know what the initials represent.
Interestingly, supposedly the Penn Station (former 1st National bank building) comes down, and the Long John Silvers/A & W combo becomes part of the Kroger footprint to the west. When the project was announced, the plans were shown to the front line people, who talked about it for a few days. Now, if you ask any of them about it, all they’ll say is that it’s in the hands of the higher ups.
Here’s a late update from yet another friend:
The Kroger on State Street owns the building that now holds Long John Silver and A & W. The owner of that franchise is looking to build where the Hardees buildig is now. He tried to get it in the contract for Kroger to remove that building and build a new one, but did not. However, the first stage of the Kroger expansion is to tear down the Long John Silver building in order to expand the gas station. Hope this helps.
Thanks to the three of you. Bankers seldom bother containing their enthusiasm for down-low deals of this nature, so it makes me wonder: Just how many deals are going to be cut for Kroger?
As an aside:
Almost from the moment the Kroger store opened on Grant Line Road, just across University Woods Drive from my pizzeria and public house business, the rumors began: Eventually, Kroger would buy Elliott Phillips’s parking area (bounded by University Woods and Plaza Drive) and build a gas station there.
It never happened, but the rumors have not ceased.
Phillips no longer owns the property in question. It was purchased a couple years ago by … the Blairs, from whom NABC leases parking spaces.