IRET

The Official IRET Properties Blog

We’re back: Arrowhead MarketPlace reopens — April 5, 2012

We’re back: Arrowhead MarketPlace reopens

Arrowhead Marketplace Cake
Arrowhead Marketplace "We're Back!" Cake

Re-post of story by: Dan Feldner – Staff Writer, Minot Daily News

Minot took a big step forward in its recovery from the devastating Souris River flood last June as MarketPlace Foods at Arrowhead Shopping Center reopened Wednesday morning to a throng of excited shoppers.

While the grocery store opened bright and early at 8 a.m., a press conference was held at 11 a.m. with local and state dignitaries on hand to share some remarks. After the press conference a ribbon-cutting ceremony was held in Arrowhead Shopping Center, then another one took place immediately afterward in MarketPlace Foods.

Along with a drawing for shoppers to sign up for, a light lunch, including an elaborately-decorated cake in the shape of the Arrowhead MarketPlace Foods grocery store, was spread out for everyone to enjoy.

The press conference took place in Arrowhead Shopping Center just outside the entryway to MarketPlace Foods, and was jam packed with people from wall to wall who were on hand to celebrate a large milestone in the city’s recovery efforts.

Tim Mihalick, president and CEO of Investors Real Estate Trust, which owns and operates Arrowhead, said the reopening of MarketPlace has been a long time coming.

“I know I speak for many, not only within Arrowhead but throughout the city of Minot, when I say it’s been a long road to get to the state of recovery where we are at today,” Mihalick said. “Though we have a long way to go in our efforts (to recover) from last summer’s Souris River flood, I am happy to be here among so many distinguished guests to celebrate the post-flood grand opening of Arrowhead Shopping Center as one sign that we are all moving in the right direction.” Continue reading

MarketPlace Foods to reopen Arrowhead location next spring — November 30, 2011

MarketPlace Foods to reopen Arrowhead location next spring

Re-post of story by: Dan Feldner – Staff Writer, Minot Daily News

Down but never out, MarketPlace Foods plans to reopen its store at Arrowhead Shopping Center next spring.

Ralph Towery, area director of MarketPlace, said while there was some discussion about not reopening the Arrowhead location, ultimately it was encouragement from employees and customers that made them realize reopening was the right thing to do. He said they run the company just like a family, a family which they consider the employees and customers to be a part of.

After MarketPlace realized just how many people were returning to the Arrowhead area, Towery said it was just a matter of sitting down with Kay Brunner, commercial property manager with IRET, which owns Arrowhead, to hammer out a long-term lease.

Arrowhead Shopping Center, Minot, ND - IRET Properties
Members of Marketplace Foods and IRET Properties gather beneath a banner declaring the grocery store's return to Arrwohead Shopping Center this spring.

“We got that done, so we are coming back,” Towery said.

“And IRET wanted to make sure that we had a store that was committed to the community in this area,” Brunner added. “It was obvious that people were going to be returning and rebuilding, and they need this type of a facility.”

The new lease is for 30,000 square feet, which will be roughly the same size as the old store. Brunner said an employee break room is being moved from the grocery store to another location in the mall, but it’s not a change that will affect customers in any way…

Read the rest of the story here, at MinotDailyNews.com

Arrowhead Plans Comeback — September 19, 2011

Arrowhead Plans Comeback

Arrowhead mall, Chateau Apartments Preparing to Reopen

Jill Shramm – Staff Writer – Minot Daily News

When the electronic message board at Arrowhead Shopping Center lit up again this past week, it was a sign from the mall owners that the flood didn’t get the last word.

“We are committed to restoring both Arrowhead and the Chateau Apartments to even better than their pre-flood conditions,” said Justin Fisk, director of marketing and communications for IRET Properties.

IRET reports the mall should be re-opening in early October. Although IRET still is going over lease terms with previous tenants, it is possible that most, if not all, will be back, Fisk said.

Tenants had included White Drug, Ace Hardware, the North Dakota motor vehicle and driver’s licensing divisions and a MarketPlace Foods grocery as well as other small shops, including a barber, pizza place, physical therapy and doctor’s offices.

Visitors might walk in the door and find that little has changed.

Photo by Jill Schramm/MDN •The flood shut down Arrowhead Shopping Center in June, but IRET Properties has plans to re-open the mall next month.

The current restoration aims to reproduce the look created during remodeling about five years ago. IRET is accommodating tenants who want some changes in their spaces, but the mall is otherwise going to look the same as pre-flood, said Kay Brunner, commercial properties manager.

Continue reading