The Eastgate Shopping Center at Central & University avenues is being demolished for the Cobalt condo development - as soon as Aug. 15 - and that means new temporary homes for Cost Cutters and Snyder Drug, and the closing of Rick's Market.
Rob Stolpestad, chief financial officer for developer Exeter Realty, said that Cost Cutters and Snyder Drug would be relocated "within walking distance."
Lund Food Holdings spokeswoman Michelle Croteau said the company is working on arranging shuttle service a couple times a week from the Rick's location to the Lunds store at 50th & France in Edina. Lund owns Rick's.
Stolpestad and Cost Cutters Manager Daniel Linderman confirmed that Cost Cutters will move around the corner to 328 E. Hennepin Ave.
Snyder Drug Store's Vice President of Real Estate Dave Leonard said his company is still in negotiations on lease terms and the cost of relocation. Snyder's current lease runs through 2010. Leonard would like the new lease to run longer - probably 20 years, he said.
Cost Cutters and Snyder Drug are both expected to move back into the new building a year after they depart, Stolpestad said.
Linderman said that Exeter has agreed to cover all costs involved in Cost Cutters' relocation. He said the move should not interrupt business.
Leonard said the drug store must move within a block of the current location. The August or September time frame sounds realistic, he said.
Stolpestad said work could begin at the existing center's south end for a couple weeks before the stores need to relocate.
Stolpestad said the Lunds store - the project's retail anchor - will open a few months before the other still-operating retail is relocated back into the new building. An additional 15,000-18,000 of the 44,000 square feet of retail remains unclaimed; Stolpestad said that Exeter is not focusing on prospective tenants at this time.
Peter Solac is moving his Woodland Stoves and Fireplaces business from 1203 Washington Ave. S. - and his brother Michael is moving in.
Peter Solac, a former East Downtown Council board member, has owned and operated his business on Washington Avenue for 28 years. Now that he's run out of space in the family-owned building, he's sold his share to Michael Solac, who will expand Bloomington-based Scandia Furniture into the 2,000-sqaure-foot retail space.
Peter Solac will move Woodland Stoves and Fireplaces to a 6,000-square-foot store at 2901 E. Franklin Ave. Aug. 1.
Floor and demonstration models will be one-third to half off, Peter Solac said. He carries "out-of-the-ordinary products and services," he said.
Scandia Furniture should open for business Downtown around Aug. 15, Michael Solac said. The store also delivers.
Both brothers said their stores are "destination locations" that draw customers from all over the Twin Cities and that they have and will benefit from the proximity to I-35W and I-94.
Meanwhile, Woodland's phone number and Web address will remain the same - 339-3391 and www.woodlandstoves.com.