Back in June and again in July, CVS Pharmacy held public meetings inside 3132 Clement to bring neighbors up to speed with their plans to move into the retail space in 2011. The 36,500 square foot building has been unoccupied since 2006, when grocery chain Albertson’s abruptly vacated the premises.
The building’s lease has since been taken over by another grocery chain, Fresh & Easy Neighborhood Market, and it was expected they would move in last year. However due to the souring economy, their expansion plans for Northern California slowed in late 2009 and this year.
Enter CVS Pharmacy, who plans to move in and take over 40% of the interior retail space on the southern side. Fresh & Easy would then occupy the north end once they are ready to move in. CVS is already engaged in a co-tenancy with Fresh & Easy in many of their other locations.
At the June 24 meeting, Supervisor Mar spoke briefly, saying he had met recently with Fresh & Easy and that they are still “totally committed to coming to Northern California.”
Fast forward to yesterday, when the Chronicle ran an article detailing Fresh & Easy’s plans to expand into the Bay Area.
What was wrong with the article? There was no mention of Fresh & Easy’s plans to move into the Richmond District in 2011. According to the article, Fresh & Easy “will move into the Bay Area early next year by opening seven stores, including one in San Francisco’s Bayview neighborhood” at Third Street and Carroll Avenue.
I contacted Supervisor Eric Mar via email to see if he had any comment on the absence of a Richmond District location in Fresh & Easy’s latest announcement. I have not heard back from him.
At the June 24 meeting, the topic of Fresh & Easy pulling out was discussed. Given Albertson’s near overnight abandonment of 3132 Clement in 2006 (“they left us out to dry”), one neighbor asked CVS what they planned to do in the event Fresh & Easy, the lease holder, changed their plans to open in the other half of the building.
CVS responded that though they are subletting their space from Fresh & Easy, they are entitled to take on the lease of the entire building if needed and pursue another co-tenant. The representative added that they are “very optimistic” about the business opportunity for CVS and that they are in for the long haul.
Let’s hope CVS is already vetting some new co-tenants. Looks like Fresh & Easy is off the table, unless they plan on coming into 3132 Clement later in 2011. But if they’re opening 7 stores in the Bay Area already, I am guessing they’ll have their hands full.
Trader Joe’s, are you listening?
Sarah B.
3:22 pm | Posted under
Business,
Real Estate |
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