12A — May 26 - June 8, 2017 — Shopping Centers — M id A tlantic

Real Estate Journal


S hopping C enters By David Goodman, Equity Retail Brokers Sprouts Farmer’s Market coming to Philly, South Jersey

S prouts Farmers Market, an organic and natu- ral foods grocer with

in South Philadelphia, a mixed- use development that Kimco is involved in. The Moorestown store would inhabit part of the space in the Moorestown Mall that Macy’s recently vacated. Sprouts expansion to the northeast comes at a time when sales of organic food has been soaring in the U.S. Until recently, Whole Foods has owned most of the organic mar- ket in Greater Philadelphia. However, Mom’s Organic Mar- ket and bFresh have recently entered the market, and sev- eral traditional and discount

grocery stores - like Aldi and ShopRite - have been increas- ing their organic and natural foods offerings. Newcomer Lidl is expected to offer a significant variety of organics, as well. What this all leads to is “a price war of unprecedented proportions,” according to Burt Flickinger III, managing di- rector at Strategic Resource Group. Nationally, Sprouts had re- ported that they have 63 sites approved for new stores and 43 signed leases “for the coming years.” As reported previously, Al- bertsons (Acme) is exploring an acquisition of the Sprouts chain. n Durkin of Roddy brokers lease expansion at Langhorne Square SC Levittown, PA —R oddy Inc . announced that it repre- sented Habitat for Humanity of Bucks County in expanding their lease by an additional 7,715 s/f, bringing the total leased to 26,389 s/f within the Langhorne Square Shopping Center located on E. Lincoln Highway, Levittown. Habitat for Humanity of Bucks’ mission is to build af- fordable homes, better lives, stronger families, and safer re- vitalized communities through partnerships with people and organizations throughout Bucks County. Habitat for Humanity of Bucks County has an open-door policy: All who believe that everyone needs a decent, affordable place to live are welcome to help with the work and they accept volun- teers and supporters from all backgrounds who are willing to serve people in need of de- cent housing. The organization plans to use the space for a Habitat for Humanity ReStore, providing for the sale and dis- play of construction materi- als, furniture, and household furnishings to the local com- munity. Revenue from Habitat ReStore provides a source of sustainable funding for the con- struction and repair of homes throughout the county. The Habitat Bucks Home- ownership Program provides an opportunity for low-income fam- ilies to increase their indepen- dence and economic well-being through home ownership and educational opportunities. n

268 stores in 15 states, is r e p o r t e d l y planning on a new store in Philadel- phia, PA and Moorestown, N J . B o t h stores would

David Goodman

represent the first in each state. The Philadelphia store is planned for Lincoln Square at Broad St. and Washington Ave.

Sprouts Farmers Market stock image

Made with FlippingBook - Online catalogs