Red Mountain Retail Group (RMRG) recently announced that four former drug store locations that are part of a seven drug store portfolio RMRG purchased in 2007 will be the first in the United States to open as Wal-Mart's new Marketside neighborhood grocery store concept. The four stores are in Gilbert, Mesa, Chandler and Tempe, Arizona and are scheduled to open on October 4th.
Wal-Mart will sell a limited selection of typical grocery store offerings, as well as a wide selection of prepared meals and produce. RMRG said the design includes polished concrete floors, muted colors and organic styling. The typical Marketside store will be 15,000 square feet and Wal-Mart has speculated that if successful, the chain could grow 1,500-stores strong.
This article appears in CoStar's Retail News Roundup: Sept. 28 to Oct. 4, 2008, a weekly column covering retail store expansions, closings, bankruptcies, acquisitions/mergers/sales, new retail developments, personnel changes, sustainability, and more.
This week in the Retail Roundup, CoStar reports on expansions or new concepts at Republic of Couture, Marshalls' Shoe Megashop, Lowe's, Ikea, Home Depot, Ulta, Wal-Mart Marketside, and Burberry; new retail developments in MA, AK, OK, CA, and IL; acquisition, merger, loan or sale activity at Citi and Wachovia, JP Morgan and Washington Mutual, CVS and Walgreens and Longs, Forest City, CBL, Cole Companies, Childress Klein and CBRE, and One Liberty; closings, cutbacks or bankruptcies at Barbeques & More and Shells Seafood; personnel announcements at Resource Commercial Real Estate; sustainability at Transwestern; and more.