Locally owned and operated Pete’s Fresh Market has leased two adjacent spaces vacated by Whole Foods Market and Sports Authority at Rice Lake Square in Wheaton, Illinois. According to property manager Annette Eastman of Mid-America Asset Management, Pete’s will open a 69,586-s.f. “enhanced concept grocery store” at this location in fall 2018.
A multiple Talk of the Town winner and Illinois produce distributor, Pete’s Fresh Market began as a small produce stand on Chicago’s south side in the early 1970s. Over the last 40-plus years, the family-owned grocer has grown and expanded its concept into a full-service supermarket with prepared foods, bakery, deli, in-house butchers, groceries to include international, gluten-free and organic items, wines and spirits, and hand-picked fruits and vegetables.
Pete’s currently operates 12 stores in the Chicago area. The company says it saw an opportunity to expand into the Wheaton market when Whole Foods relocated from Rice Lake Square and Sports Authority closed its location.
“We recognized that the residents of Wheaton have a lot of grocery options, but we knew we could close the gap between high-end experience and affordable pricing,” said Stephanie Dremonas of Pete’s. “This is a wonderful location, and Pete’s is looking forward to serving the Wheaton area.”
Mid-America Principal Marget Graham represented the landlord, Grosvenor Americas, in lease negotiations.
Rice Lake Square is located east of the northeast corner of Butterfield and Naperville roads. Owned by Grosvenor Americas and managed/leased by Mid-America Asset Management, it is anchored by Studio Movie Grill, PetSmart and Stein Mart. Other stores and restaurants include Panera Bread, Houlihan’s, Orange Theory Fitness, Men’s Wearhouse and Tuesday Morning.
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