Developer Sues Whole Foods over Halted Seattle Store Project
Oct 6, 2008
A Seattle developer is suing Whole Foods Market for $67.9 million
in damages because it has stopped construction on a new unit
planned as the anchor for a project in Seattle's Interbay
neighborhood.
The developer of the Interbay Urban Center project, TRF Pacific,
said the Austin, Texas-based natural grocer has not responded to
the lawsuit. Whole Foods declined to comment on the suit for an
article in the Seattle Times. On its Web site, the chain stills
lists the stores as "in development."
Whole Foods said in August it would proceed with plans for new
stores at Interbay and West Seattle, even though it scaled back
new-store openings after a third quarter drop in profit.
In the suit, TRF Pacific, which completed two other stores for the
natural/organic grocer, accuses Whole Foods of breach of contract.
When construction halted, Whole Foods told TRF that sales
projections required shrinking the store from 60,000 square feet to
about 40,000 square feet, according to the lawsuit. The chain
delayed the store opening from Dec. 2008 to Oct. or Nov. 2009 due
to cash flow problems, said TRF. In September, a week before TRF
was scheduled to turn over the building shell to Whole Foods, the
grocer told the developer it was terminating its lease due to TRF's
failure to satisfy unspecified conditions in their agreements, the
lawsuit said.
Developer Sues Whole Foods over Halted Seattle Store Project
Oct 6, 2008
A Seattle developer is suing Whole Foods Market for $67.9 million in damages because it has stopped construction on a new unit planned as the anchor for a project in Seattle's Interbay neighborhood.
The developer of the Interbay Urban Center project, TRF Pacific, said the Austin, Texas-based natural grocer has not responded to the lawsuit. Whole Foods declined to comment on the suit for an article in the Seattle Times. On its Web site, the chain stills lists the stores as "in development."
Whole Foods said in August it would proceed with plans for new stores at Interbay and West Seattle, even though it scaled back new-store openings after a third quarter drop in profit.
In the suit, TRF Pacific, which completed two other stores for the natural/organic grocer, accuses Whole Foods of breach of contract. When construction halted, Whole Foods told TRF that sales projections required shrinking the store from 60,000 square feet to about 40,000 square feet, according to the lawsuit. The chain delayed the store opening from Dec. 2008 to Oct. or Nov. 2009 due to cash flow problems, said TRF. In September, a week before TRF was scheduled to turn over the building shell to Whole Foods, the grocer told the developer it was terminating its lease due to TRF's failure to satisfy unspecified conditions in their agreements, the lawsuit said.