Market at Olive Retail Project Welcomes Dierbergs as Newest Anchor Store
University City, MO — December 17, 2024 – The development team behind the Market at Olive retail project, spanning both sides of Olive Boulevard between I-170 and McKnight/Woodson Roads in University City, announced today that Dierbergs has purchased a 7-acre site within the Costco-anchored development. The team, comprising Bob Clark (Clayco), Larry Chapman (Seneca Commercial Real Estate), Caroline Saunders (general counsel for the project), and David Hutkin (Hutkin Properties Group, LLC), revealed that Dierbergs plans to build a 75,000-square-foot store.
In addition to Costco, Target and Dierbergs, the 47-acre retail project includes notable brands such as Chick-fil-A, First Watch, Chipotle, Chase Bank, Panera, AT&T, Raising Cane’s, Jersey Mike’s, 7 Brew, and Sport Clips. Additional retailers and restaurants will be announced in 2025, building on the Market at Olive’s role as a central gathering place for the community.
“Adding Dierbergs to world-class anchors Target and Costco at the Market at Olive is a proud moment for University City. In addition to great shopping choices for consumers, the Market at Olive also has expanded employment opportunities in our community,” said Terry Crow, Mayor of University City. “It has been very productive working with Bob Clark, Larry Chapman, Caroline Sauders, David Hutkin and their team to attract such outstanding companies to do business in University City.”
Greg Dierberg, CEO of Dierbergs Markets, Inc. stated, “As a local, family-owned business, Dierbergs is excited to grow and become part of this vibrant development, and we look forward to serving the University City community for generations to come.”
“I’m thrilled to see Dierbergs joining The Market at Olive development,” said Bob Clark, Founder and Executive Chairman of Clayco. “A high-quality grocery store like Dierbergs will not only provide incredible options for local families but also enhance the vibrancy and convenience of the area. I’m proud to see this vision coming to life and can’t wait to see how it serves our community.”
About Clayco
Clayco is a full-service, turnkey real estate development, master planning, architecture, engineering, and construction firm that safely and sustainably delivers the highest quality solutions to clients across North America on time, on budget, and above and beyond expectations. With $5.8 billion in revenue for 2023, Clayco specializes in the “art and science of building,” providing fast track, efficient solutions for industrial, commercial, institutional and residential-related building projects. For more information, visit www.claycorp.com.
About CRG
CRG is a privately owned North American real estate development and investment firm founded in 1993 with deep expertise in delivering and owning industrial, office, multifamily, student housing and mix-use assets. The firm serves clients and investors from eight regional offices benefiting from local expertise in Chicago, St. Louis, Seattle, SoCal, Phoenix, Philadelphia and Atlanta. CRG has developed more than 10,000 acres of land and delivered over 210 million square feet of assets exceeding $13 billion in value. For more information, visit CRG’s website at www.realcrg.com.
About Dierbergs Markets
Dierbergs Markets is a privately owned, family-run business in its 4th generation of leadership. Originating in 1854 with its first location on Olive Street Road, it has grown to 27 stores primarily in the St. Louis region, with two stores in Illinois, and one in the Ozarks. In addition, there are two plant facilities: a Central Bakery, Central Kitchen, and a Produce Row warehouse which supports the store operations. Dierbergs currently has more than 3,500 Associates company-wide who share in our 169-year history and uphold our reputation built on hard work, personal service and a commitment to meeting the growing needs of our area through community service. Follow Dierbergs on social @dierbergs.