Harps grocery in Grove purchased to kick off retail development
BY ROBERT EVATT World Staff Writer
Wednesday, December 19, 2012
12/19/12 at 3:50 PM
Clarification: A Wednesday Tulsa World business story about the purchase of a Harp’s grocery store in Grove left out the involvement of several other Wheeler companies in the action. The land was originally purchased by Wheeler Interests, then purchased by Harp’s, then purchased by Wheeler Real Estate Investment Trust. Wheeler Development is the entity that is actively pursuing development within Tulsa. Wheeler REIT itself only owns nine properties; the rest are divided among the other Wheeler companies.
GROVE - The $4.55 million purchase of the Harps grocery store is the first step in continued retail development at the site.
Wheeler Real Estate Investment Trust Inc., a Virginia Beach, Va.-based company, purchased the 31,705-square-foot building and surrounding land in Grove along Har-Ber Road between South Broadway Street and U.S. 59 from Harps Food Stores, said Randy Wheeler.
The grocery store has signed a long-term lease and will remain in operation, though other changes will soon come, he said.
"We'll be building out three additional buildings totaling 44,000 square feet once we lease them out," Wheeler said.
Construction on the first new building should begin in early 2013, he said.
Wheeler REIT will pursue a variety of tenants for the new buildings, including dollar stores, nail salons, fitness studios and auto parts stores, Wheeler said.
The purchase brings the property full-circle. Wheeler REIT originally owned the land and prepared it for development, then sold it to Harps, which built the store.
Wheeler REIT owns 46 retail centers, including Perimeter Center at 31st Street and Garnett Road in Tulsa. Wheeler said the company is actively pursuing additional properties for development in northeastern Oklahoma.
Original Print Headline: Grove store purchased to kick off development
Robert Evatt 918-581-8447
robert.evatt@tulsaworld.com
