Lori Willis, Director of Communications,
Schnuck Markets, Inc., 314-994-4602
Kelly Hoskins, Director of Marketing
David Rose, Managing Partner,
Coral Ridge Companies, 248-646-0517
March 29, 2005
Coming Soon to The Residents of Normal...
New Wehrenberg Theatres and Schnucks Supermarket Now in Development
Normal, Ill. - Thanks to a multi-million dollar retail development planned for the northern part of town, residents of Normal, Ill. will soon get a brand new, 63,000-square-foot Schnucks full-service food and drug store and a 15-screen, state-of-the-art Wehrenberg Theatres in addition to a number of other top retail operations.
According to David Rose, managing partner for Coral Ridge Companies, of Bloomfield Hills, Mich., the two businesses will be the main attractions of a 76-acre development on the East side of North Main street between I-55 and Raab Road that is set to open in summer of 2006. "Final site development plans will be completed soon and once all governmental approvals are in place, construction can begin." Rose expects to break ground this summer.
Rose said, "This property is unusual in that there are three major street frontages including an interstate highway (Highways 39-55) that provides easy access for an estimated daily count of 60,000 vehicles. It holds promise and excitement for retailers and consumers alike, but because of its size, we had to reach required critical mass before we could move forward," Rose said.
Normal Mayor Chris Koos, himself a businessman, recognized the impact such a development would have on the community, and Rose says the mayor was instrumental in helping get this project off the ground. "We knew we needed a grocer like Schnucks with a reputation for quality products and customer service to move things forward," Rose said. Once Schnucks and Wehrenberg were signed, Rose says everything else fell quickly into place.
Craig Schnuck, chairman and chief executive officer of Schnucks, says, "The new Schnucks Marketplace prototypes feature a customer-friendly floor plan that is more like several smaller stores, within a larger one, allowing customers to save time and steps." He added, "In Normal, we are going for a totally new store environment with a more modern look and feel that I am sure will appeal to our new customers."
Mayor Koos said, "It's an exciting time for Normal and I am pleased to be part of an effort that will provide such a wide range of goods and services to the people of our community." He added, "The project will provide more than $1.6 million in additional property, plus obvious significant sales tax revenues. In addition, we now can spend more dollars in our own community, which will strengthen our town and help make it an even better place to live. We estimate that 1000 jobs will be created because of this new venture."
Schnucks, positioned in the center of the development, will anchor the retail portion of this mixed-use development. The theater complex will occupy the northeast corner. Additionally, there will be a 200-unit upscale apartment building, five restaurants, a hotel and a bank. Rose confirms that Blockbuster Video, Fashion Bug, Shoe Show, Longhorn Steakhouse and Starbucks also have signed onto the project."
About 1,500 acres in the northern portions of Normal area have been zoned residential which helps guarantee another influx of residents and steady customers. "We now are working with a 60,000-square-foot lumber and hardware operation. We've also had inquiries from two different car dealerships," said Rose. "This development is going to be a great asset to the community. I believe the whole northern corridor of the town will experience accelerated retail and residential growth as a result."
Schnucks operates a 72,000-square-foot supermarket in Bloomington, Ill. that opened in 1990 and was remodeled in 2001. Founded in St. Louis in 1939, Schnuck Markets, Inc. currently operates 101 stores (including five Logli stores) and 96 pharmacies in Missouri, Illinois, Indiana, Wisconsin, Tennessee and Mississippi. The family-owned company ranks 94th in the Forbes magazine listing of the nation's "Largest Private Companies."
Now in its 99th year, St. Louis-based Wehrenberg Theatres is the oldest family-owned and operated theatre circuit in the U.S. Ronald P. Krueger, 3rd Generation, Chairman and Co-CEO of Wehrenberg, Inc. Ronald P. Krueger II, 4th Generation, Co-CEO and President of Wehrenberg Inc.
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