Kroger moves into Florida with shopping center purchase
Kroger is getting in on the action in the Sunshine State, where competitor Publix Super Markets reigns supreme.
Topvalco, Inc., a wholly-owned subsidiary of The Kroger Co., has purchased a 73,841-sq.-ft. shopping center in Delray Beach, Florida, for $15 million, reported The Palm Beach Post. The retailer also paid $2 million for an outparcel that includes a bank.
The Delray Commons shopping center property will reportedly be the future location of Lucky’s Market, a value-priced natural and organic foods grocery chain backed by Kroger. The new 29,000-sq.-ft. Lucky’s is expected to open in 2019, according to the Palm Beach Post report.
Lucky’s expects its store count to total more than 35 stores by the end of 2018. It recently signed four new leases for stores in Florida, all of which are expected to open in the next 18 to 24 months.
R.J. Brunelli hires manager of new tenant representation
A retail real estate pro who was recently named one of Chain Store Age’s “Real Estate’s 12 to Watch” in 2018 has joined the R.J. Brunelli & Co. team.
Julie Fox joins the Old Bridge, New Jersey-based retail real estate brokerage as manager of the newly-created position of new tenant representation.
With over 13 years of experience in property management, brokerage, landlord leasing, tenant representation, and land disposition, Fox will primarily focus on the development and servicing of tenant representation accounts, but will also handle leasing and sales on behalf of property owners.
She comes to R.J. Brunelli from Philadelphia-based Shopcore Properties, where she directed the leasing of The Shops at Skyview, a mixed-use urban retail project in Flushing, New York.
“Julie is a consummate professional, whose wide-ranging experience on behalf of tenants and landlords, work across multiple states and vast contacts throughout the retail real estate industry make her an ideal addition to our team,” said Danielle Brunelli, president/principal of R.J. Brunelli.
She currently serves as the ICSC PA/NJ/DE Next Generation Chair and co-founded The Pipeline, a women’s networking group comprised of professionals in retail real estate.
Top 10 Retail Center Experiences: No. 10 Plymouth Meeting Mall
In a search for innovators in experiential retail, Chain Store Age asked readers to nominate retail centers worthy of being named among the Top 10 Retail Center Experiences in the nation. The editors’ picks conclude with No. 10 Plymouth Meeting Mall:
Plymouth Meeting Mall
Joe Coradino could well go by the moniker “The Great Reclaimer” in retail real estate circles.
For several years, PREIT’s CEO has divested underperforming properties and re-curated the keepers to make them suitable for the new generation of retail.
To Coradino, a closing Macy’s just smells like opportunity. That happened last year at Plymouth Meeting Mall, which needed a major makeover to keep from getting overwhelmed by Simon’s King of Prussia Mall a few miles down the Pennsylvania Turnpike.
“We filled that Macy’s with dining and fitness, and we really differentiated ourselves with restaurants,” he said, naming Redstone, P.F. Chang’s, Dave and Busters, and Benihana as popular destinations.
One of the first things PREIT did upon acquiring the mall was to seek out a Whole Foods. Legoland Discovery Center and 5 Wits were big gets on the entertainment side in recent years.
“From the beginning, the only thing we thought about was how to change it from being a traditional mall,” said Coradino.