Printer Friendly

Kenai Peninsula: lease lassoed.


Lease Lassoed. Fred Meyer Inc., the company that promised one of its biggest Alaskan stores would be constructed on the Kenai Peninsula, backed out of a lease with the City of Kenai earlier this year, clearing the way for an expansion by Carr-Gottstein Properties, the commercial real estate division of Carr-Gottstein Inc. of Anchorage. In April, Carr-Gottstein announced plans to build a 60,000-square-foot Carrs Quality Center in Kenai and asked the city council to cancel Fred Meyer's five-year-old lease of prime city property. Kenai City Manager Bill Brighton already had urged Fred Meyer to build this summer or risk losing the lease.

Having spent more than $120,000 a year to lease the land and about $400,000 preparing the property for construction, Fred Meyer cancelled its lease after Carr-Gottstein's announcement. Kenai city officials report that the peninsula's economy and corporate restructuring contributed to the company's change in plans. Carr-Gottstein has announced construction on its new grocery outlet should begin by the summer of 1992.
COPYRIGHT 1990 Alaska Business Publishing Company, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1990 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Alaska Business Briefs
Publication:Alaska Business Monthly
Date:Jun 1, 1990
Previous Article:Media: station shopping.
Next Article:Mining: production climbs.

Related Articles
Kenai Peninsula.
After the retail rush.
Kenai Peninsula.
Kenai Peninsula's Diverse Real Estate Market.
Cook Inlet Ripe for Oil and Gas Exploration and Production.
Great hope for Kenai Peninsula oil and gas industry: Exploration continues as new fields are being developed.
CIRI book focuses on Native organizations. (Alaska Native Business News).
Keeping Alaska hog farm-free.
Cook Inlet: an oil and gas report: gas supplies are diminishing in the Southcentral region, but companies are doing what they can to squeeze the last...

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters