The Ridge Shopping Center at the southeast corner of Elk Grove Boulevard and Bruceville Road continues to move forward during the novel coronavirus (COVID-19) pandemic.
The center, which is being built in three phases, is located near the Costco Wholesale store that opened in 2018. The first six buildings of The Ridge were completed last year.
Both Costco and The Ridge sit on property owned by Pappas Investments.
Recently signing leases to operate in the center were the gourmet cookies business, Crumbl Cookies, and the European Wax Center, a hair removal salon that includes waxing services.
Also planning to open in the center soon is the casual dining and sports bar, Buffalo Wild Wings.
Kelly Rule, senior vice president of leasing for Pappas Investments, spoke about The Ridge’s continued progress.
“Actually, things haven’t slowed down,” she said. “We probably have about 10 deals we’re working on that are very close (to being finalized), but these things take time.
“I think it’s very exciting that people are still moving forward. We’re getting new proposals all the time. I think it’s great.”
Rule added that European Wax will be located next to a business spot that will house a national coffee chain. Last month, the eateries, West Coast Sourdough and Pieology Pizzeria, began operating at The Ridge. Also currently operating in the shopping center are Olive Garden restaurant and Stanton Optical.
Rule mentioned that the first phase of the shopping center project is built and that much of the second phase is complete. Six new buildings will soon be built soon as part of the project’s second phase, which is anticipated to conclude next year, Rule noted.
As for Phase 3 of the project, Rule estimated that it will be completed in 2022.
Regarding major, Phase 3 tenants for the center, Rule noted that efforts are being made toward acquiring agreements for their future operations at The Ridge.
“We’re working on a few letters of intent,” she said. “However, with COVID (-19) and everything, those bigger box tenants struggle a little bit more. We’re not going to build those (Phase 3 structures) until we get the leases finalized.”
Rule also mentioned that the COVID-19 situation caused some tenants of The Ridge to take a “wait-and-see” approach.
“We have had a couple tenants say that they would like to go on hold until they see what happens,” she said. “So, I have had (about four) deals pause.
“The ones on hold, I’m in contact with and it looks like a couple are coming back around and a couple are still on hold.”
She added that a particular nail salon that was interested in operating in the center is “an unsure.”
Rule said that in the event that tenants are lost, there are other potential tenants that have expressed interest in operating in the center.
“I would replace those (tenants) with new deals,” she said. “Things have not really slowed down for us. We’ve been busy.
“We’re still moving forward on most of the deals. And like I said, even during this COVID(-19), we had two signings.”
Rule credited the business environment of Elk Grove for The Ridge’s early success and this center’s ability to prosper during a downturn in the economy.
“(Elk Grove has) got great density (and) daytime and evening traffic and good demographics,” she said. “Elk Grove is very appealing to a lot of tenants.
“There’s so much growth in Elk Grove. If you think about where the growth is in Sacramento, it’s Elk Grove, west Roseville and Folsom. Elk Grove is a great market.”