0313 Walgreens shell Omelet shoppe
The Riverchase Shell and the former Omelet Shoppe building at the corner of Lorna Road and U.S. 31 will be torn down in late March and early April. In their place a new Walgreens will be built and opened before fourth quarter, said Traci Fassina, president of Rogina Investment Corp, the landowners.
"It's a very busy intersection, and [Walgreens] likes high traffic areas," Fassina said.
Fassina said Walgreens originally approached the corporation in 2003 and initiated plans in 2005. Shell has been operating on a month-to-month lease since the corporation bought the land from their lease three years ago. The station owners have been completely aware of the deal being worked with Walgreens, Fassina said.
The Omelet Shoppe, which has been vacant for more than a decade, will be torn down to accommodate parking requirements of the city for the Walgreens. Before owning the land, the Rogina group had a long-term lease with the former owner with special terms prohibiting the Omelet Shoppes removal.
"It's a great location," Fassina said. "There's a lot of opportunity to do something better for the city."
Walgreens will usually spend $4-5 million for a building, Fassina said, and construction usually take six months but could take fewer because of it is a clean site. Walgreens will be an asset to the city and help in sales tax revenues, Fassina said.
"The fourth quarter is the biggest quarter," Fassina said, "They'll probably be operating before then."
The Rogina Investment Corp. will also have a new tenant to occupy the former Blockbuster building behind the Omelet Shoppe, but cannot reveal further information because of a non-disclosure agreement.
