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Closely held grocery chain Roundy's Supermarkets, Inc. has signed off on a long-term lease for a 60,000-square-foot grocery store on a mixed-use parcel in Chicago, according to local press reports.
Milwaukee-based Roundy's plans to open the new supermarket in the fall of 2010 in the Bronzeville neighborhood of Chicago, which was described by an executive of investor group Capri Capital partners, LLC as suffering for decades from a "chronic lack of commercial retail." Capri chairman and CEO Quintin E. Primo III said the Roundy's store will serve as "the catalyst for the rebirth in this underserved market."
Chicago-based Prime Group Inc. is the developer of the 123,000-square-foot commercial/retail site that is located at the intersection of South State St. and Pershing Rd. in Chicago.
Roundy's Supermarkets, Inc. operates 152 retail grocery stores under the Pick 'n Save, Copps, Rainbow and Metro Market banners in Wisconsin and Minnesota.