Coborn’s Plans To Double Presence In Bakken Region With Five New Grocery Stores

Page 4 Mountrail County Promoter, Inc., Stanley, ND Wednesday, Aug. 1, 2012

Coborn’s Plans To Double Presence

In Bakken Region With Five New Grocery Stores

Coborn’s, Inc. announced plans last week to build five new grocery stores in western North Dakota now through 2014. The new Coborn’s and Cash Wise Foods stores will more than double the company’s presence in the state’s Bakken region. “North Dakota is a prime market for Coborn’s to expand,” said Coborn’s President and CEO Chris Coborn. “We currently operate six grocery stores throughout the state, including three in the Bakken region. Building five new stores in the Bakken will strengthen our brand across North Dakota and will bring new fresh food options to these rapidly growing communities.” Coborn’s, Inc. has owned and operated Cash Wise Foods stores

in Fargo/Moorhead and Bismarck, ND since 1988. The company also has a Coborn’s store in Jamestown, which opened in May 2012. In April 2012, Coborn’s, Inc. partnered with Williston, ND-based JK Foods to co-own an Economart in Williston, ND, and Food Pride stores in Stanley and Tioga, ND., where they serve the significant population growth that is occurring as part of the North Dakota oil boom. Among the new stores being planned are Coborn’s stores in Stanley and Tioga, which will replace the company’s existing Food Pride stores; a Coborn’s store in Watford City; and Cash Wise Foods stores in Dickinson and Minot. Twin-Cities based Oppidan Investment Company will be the development partner  for these new stores. “Expanding our family of stores to include these new locations represents positive, strategic growth for our employee-owned company,” said Chris Coborn. “We look forward to serving our customers in the years to come and will work hard every day to meet their needs.” Currently, Oppidan’s real estate interests are in Dickinson, Minot, Stanley, Tioga, Watford City, and Williston. In addition to the five commercial projects, they are also working on two housing projects,one in Watford City and the other in Williston. Specific projects include: Dickinson: Commercial project that includes a 500,000-square foot commercial development on 55 acres. Confirmed tenants include Menards, Cash Wise Grocery, Cash

Wise Liquor, Holiday Station Store, Holiday Car Wash, Holiday Gas Station, Petco, and Dollar Tree. This will be a phased development led by Menards; construction is expected to begin in September. Minot: Commercial project that includes a 180,000-square foot commercial development on 19 acres. Confirmed tenants include Cash Wise Grocery, Cash Wise Liquor, Holiday Station Store, Holiday Car Wash, Holiday Gas Station, Petco, Shoe Carnival, and Gordmans. The land purchase agreement is in place; construction is expected to begin in September. Stanley: Commercial project of up to 150,000-square foot commercial shopping center on 20 acres. Confirmed tenants include Coborns Grocery, Coborns Liquor, Holiday Station Store, Holiday Car Wash, and Holiday Gas Station . Land is currently under contract; construction is expected to begin in the spring of 2013. Tioga: Commercial project of 34,000-square foot Coborns Grocery store and Coborns Liquor Store on two acres. Land is currently under

contract; construction is expected to begin in September. Watford City: Commercial project of a 118,000-square foot commercial shopping center on 12 acres. Confirmed tenants include Coborns Grocery, Holiday Station Store, Holiday Car Wash, Holiday Gas Station, Alco, Z Wireless, and McDonald’s. Land is currently under contract; construction will begin in August. Watford City: Residential project of one 42-unit apartment building on two acres. Construction will begin in August; building will open on February 1. Williston: Residential project of two 36-unit apartment buildings on a total of five acres. One apartment complex is currently under construction and will open on October 1; construction will begin on the second apartment complex on August 1.

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