On Tuesday, October 8, 2013, Simon Konover Development Corporation (SKDC), along with its partners, Outlook Development Group (Outlook) of Franklin, Wisconsin and Bucksbaum Retail Properties (BRP) of Chicago, Illinois, celebrated the completion of a new retail development in downtown Chicago.
The event featured the grand opening of Mariano’s Fresh Market, a new 65,568 square foot grocery store. The Mariano’s brand is part of Roundy’s Supermarkets Inc., one of the Midwest’s leading grocers.
The retail property features a one story store, along with a two level parking deck on the store’s roof. The project is located at the corner of South Clark Street and 16th Street in Chicago’s South Loop. The partnership assembled and acquired the 3-acre site from the City of Chicago in September 2012. The property is currently being marketed for sale.
“The grand opening of Mariano’s Fresh Market is the culmination of years of focus and hard work for The Simon Konover Company and its partners,” according to James Wakim, President and Chief Operating Officer of The Simon Konover Company. “We are excited to bring the fresh food options offered by Mariano’s Fresh Market to this urban neighborhood, and we look forward to furthering our investment focus in the Midwest.”
SKDC and Outlook signed a joint venture agreement in 2011 to focus on the acquisition and development of projects in the Midwest, with a principal focus on retail and medical office opportunities. Since its inception, the joint venture has purchased properties in Brookfield, Ft. Atkinson, Madison, Milwaukee, and Hartford, Wisconsin. This is the first project that BRP has participated in with the venture.