Shop N Save Maplewood to close

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Well its not good news if you work there, also it will make grocery shopping harder in Maplewood, but...

This is destiny knocking Maplewood - Answer it - a dense mixed use development would enhance a nice urban strip into a great urban center -

http://40southnews.com/maplewood-shop-n ... -facebook/
I would guess the always busy Aldi had something to do with the closing. Not to mention the pending sale of Shop N Save stores.
Brixmor is the owner, so slim chance they sell it and even less chance they develop it into something other than its current form, but you never know. Considering the momentum that area has had the past 5-10 years, I don't think they'll have a problem filling it with another big retailer.

I had heard rumors at one point that Schnucks was poking around the Shop N Save sale and had particular interest in this location, although they have three other stores all within 2 miles (Arsenal, Hampton Village, Clayton Rd). It also wouldn't surprise me if one of the niche grocers tried to grab it - Lucky's, Fresh Thyme, etc.

Would certainly make for a nice piece of property to clear out and build mixed use on.
jbacott wrote:
Tue May 15, 2018 4:56 pm
Brixmor is the owner, so slim chance they sell it and even less chance they develop it into something other than its current form, but you never know. Considering the momentum that area has had the past 5-10 years, I don't think they'll have a problem filling it with another big retailer.
Like what? Big box stores are dying.
jbacott wrote:
Tue May 15, 2018 4:56 pm
I had heard rumors at one point that Schnucks was poking around the Shop N Save sale and had particular interest in this location, although they have three other stores all within 2 miles (Arsenal, Hampton Village, Clayton Rd). It also wouldn't surprise me if one of the niche grocers tried to grab it - Lucky's, Fresh Thyme, etc.

Would certainly make for a nice piece of property to clear out and build mixed use on.
I certainly hope this doesn't turn into a repeat of their National takeover where they hold buildings hostage and prevent them from being groceries. (South Broadway, Twin Oaks, Affton etc)
Depends on what you consider big box. Shop N Save is +/- 50,000 square feet, which opens it up for far more users than just grocery. If Brixmor decides to split that space into two junior box spaces the user pool becomes even bigger. Deer Creek already put a handful of those in the market - Ross, Marshalls, Buy Buy Baby, JoAnn, Dollar Tree, etc. - and obviously Brentwood is close enough to rule out most of the ones already in those centers. Gyms are becoming more prominent in large box spaces as well because they love the parking.

I think the reason that space can be attractive to a lot of national retailers is because real estate of that size that exists within the heart of a walkable, modern neighborhood yet has some of the traditional suburban retail qualities (mainly a massive parking lot) is not very common. You'll see a lot in markets like Lincoln Park in Chicago where they've integrated traditional retail into highly urban areas. Obviously Lincoln Park is a tad more high profile than Maplewood, but for St. Louis, Maplewood is an attractive market.

Schnucks can't squat on it because they don't own it and Brixmor won't lease it to them unless they're going to open for business.

Obviously the wild card is if Brixmor selling it. They only have a few centers in St. Louis, so it wouldn't shock me if they decided to get rid of it. That area would look a whole lot different if a developer decided to scrap the retail and build mixed use. I'd consider that a longshot.
https://www.brixmor.com/

The three slides on their main page cycle between Kroger, TJ Maxx and Whole Foods.

https://properties.brixmor.com/cre/comm ... s/missouri

Their for lease page only lists the 3 side parcels to the Maplewood Shop n Save that they never seemed to be in a rush to lease out.
jbacott wrote:
Wed May 16, 2018 10:55 am
Schnucks can't squat on it because they don't own it and Brixmor won't lease it to them unless they're going to open for business.
I wasn't sure what you meant when you said Schnucks was poking around. If that was for a store or for Desco to buy it and then bank. Because they have history of it.
Regarding Schnucks it was more a rumor about them potentially negotiating to buy some of the Shop N Save stores, in part to assume this location. But it sounds like the lease is up, so wouldn't make much sense for them to do it now.

Brixmor's wheelhouse is grocery anchored or power centers. While this one is certainly grocery anchored, it doesn't really fit that traditional model b/c it has such a small amount of small shop space which is where they typically make the most money. That's why it wouldn't be a total shock if they looked to sell it, although if they did I'd imagine they'd want to fill the space first so they're not selling it at a heavily discounted rate.
jbacott wrote:
Wed May 16, 2018 1:32 pm
Regarding Schnucks it was more a rumor about them potentially negotiating to buy some of the Shop N Save stores, in part to assume this location. But it sounds like the lease is up, so wouldn't make much sense for them to do it now.

Brixmor's wheelhouse is grocery anchored or power centers. While this one is certainly grocery anchored, it doesn't really fit that traditional model b/c it has such a small amount of small shop space which is where they typically make the most money. That's why it wouldn't be a total shock if they looked to sell it, although if they did I'd imagine they'd want to fill the space first so they're not selling it at a heavily discounted rate.
No doubt the owner will market it as is, but it is 20 years old, whoever would be the next tenant would probably have a large upgrade budget, especially since S&S finishes are usually on the lower end

What makes me think about redevelopment is a possibility -

1- aforementioned age - who knows how much they have spent on upgrades, but there are probably some big ticket items coming due

2- A few years ago a broker was telling me that regional demographics are playing a diminished role to traffic counts on local arterials - Manchester has to have lower traffic east of Big Bend

3- Developers have been trying to do high density projects in Richmond Heights/Brentwood/Maplewood but good sites are hard to find - If someone has the financing to make it work they can make an offer to the owner that is cash in hand now vs. marketing and redeveloping 50,000 SF

That being said - I do think you are correct, they will try to to flip it quick, but if it sits around a year or so... who knows
This is Maplewood's chance to get things right. They tore down the north half of downtown in the 1970s for a Kmart (that eventually became the Shop N Save), now they can rebuild a walkable, mixed-use community.

Pictures of what was:
http://40southnews.com/maplewood-histor ... -district/
Would love to see retail with 2-3 floors of residential fronting Manchester along here. I think the increasing desirability of Maplewood could make doable from a financial perspective.
Looks like it is official. Schnucks is reopening the former Maplewood Shop-N-Save
as a grocery store.
The pie-in-the-sky mixed use proposals that everyone would have preferred was never really going to be on the table since we were talking about just the space being on the market rather than the whole property. The fact that they turned around and put Schnucks in there so quickly probably confirms that Brixmor isn't selling it, but who knows.

I've always wondered why they've had such little momentum leasing up the small shop space next to it. They also have plenty of space to drop a street-hugging outparcel to capitalize on the walking traffic in the area.