Whole Foods Market’s patience finally ran out on Willits Town Center in Basalt last week.
The natural grocery chain notified project-owner Bank of America and landlord Joseph Freed and Associates (JFA) that it is terminating its lease for a Willits store, said Will Paradise, regional president of Whole Foods’ Rocky Mountain Region, on Friday.
Paradise said the company is frustrated over the lack of progress at the development. He didn’t specifically criticize Bank of America or JFA, but expressed general frustration about lack of progress at the development.
Whole Foods signed its initial lease almost four years ago for a 44,000-square-foot grocery store at Willits Town Center. JFA ran out of financing and construction on the store stalled in September 2008 after the foundation was poured.
Whole Foods signed a new lease for a smaller store in March 2010, but JFA lost part of Willits Town Center to foreclosure by Bank of America later in the year.
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