REAL ESTATE

Aldi plans 650 new U.S. stores in next five years

BY Dan Berthiaume

Batavia, Ill. – Discount grocer Aldi is launching a five-year strategic plan to open 650 new stores across the United States. The chain launched its expansion efforts with the decision to build its regional headquarters and distribution center in Moreno Valley, Calif.

To reach its aggressive five-year goal, Aldi plans to accelerate the pace of new store openings to an average of 130 per year, up from an average of 80 stores per year in recent years. Aldi also is planning to invest more than $3 billion to pay for land, facilities and equipment. When the expansion is complete, Aldi will have stores coast-to-coast and anticipates serving more than 45 million customers per month.

The expansion is expected to create more than 10,000 new jobs at Aldi stores, warehouses and division offices. Today, Aldi has nearly 1,300 stores across 32 states and employs more than 18,000 people

"We’re ramping up our expansion plans to meet growing demand for Aldi from customers across the country," said Jason Hart, president, Aldi. "Recently, we successfully entered new markets such as Houston, and expanded our presence in competitive markets like South Florida and New York City. At Aldi, we believe that great quality can be affordable, and we are eager to bring the Aldi difference to new markets like Southern California."

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REAL ESTATE

DDR signs anchors for Seabrook Commons in N.H.

BY Michael Fickes

Beachwood, Ohio — DDR Corp. has announced he lease-up and construction of Seabrook Commons, a 380,000-sq.-ft. power center slated to open in the summer of 2014 in Seabrook, N.H.

Anchored by Wal-Mart, Dick’s Sporting Goods, PetSmart, Michaels, Ulta, Five Below and Panera, the center will open 95% leased.

The trade area has a population of 251,000 people and an average household income of approximately $90,000.

The opening of Seabrook Commons next year will mark DDR’s second-consecutive year of developing a power center from the ground up. In May of this year, the company opened Belgate Shopping Center, a 900,000-sq.-ft. center in Charlotte, N.C., anchored by Ikea, Wal-Mart, Marshalls, Ulta, Old Navy, PetSmart, Cost Plus World Market, Hobby Lobby and Shoe Carnival.

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REAL ESTATE

JLL expands into Phoenix

BY Michael Fickes

PhoenixJones Lang LaSalle is expanding its retail brokerage platform into Phoenix. Tyson Switzenberg will lead the firm’s new Phoenix practice. Senior Associate John Reva and Associate Trask Switzenberg will join him.

All three have come to JLL from SR Commercial Real Estate and have brought with them a strong roster of local and national clients. In their new roles, they will be responsible for developing and executing strategies that serve the full range of clients’ real estate needs, while developing new business opportunities for current and future investor and retailer clients.

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