The real estate
The more than 40 stores in play will ripple through the area’s retail real estate market.
Franklin Street Senior Vice President Carrie Smith said July 11 that she expects the conversions and market transition to unfold strategically.
“Up until the Edgewood Square announcement, Aldi’s plans for the Winn-Dixie and Harveys boxes has been relatively unknown, but from what we understand they are being thoughtful in the transition, with a specific strategy tied to each location,” Smith said.
“We’re highly doubtful we’ll see a one-size-fits-all strategy with this acquisition, given the varying dynamics for the shopping centers Winn-Dixie currently operates in,” she said.
“What we do know, is that Aldi is a well-loved brand within Northeast Florida that caters to a wide range of customers, so we anticipate the transition to Aldi to be a welcome addition to both consumers and retailers alike. “
Smith said the size difference in the stores offers an opening for new retailers to enter the market.
“Given the size difference between Southeastern Grocers’ footprint and Aldi’s, we anticipate there being opportunity for retailers in the 10,000-20,000 SF range to take advantage of Aldi rightsizing most, if not all, of the boxes,” Smith said. “Because of the continued demand for space in our market, this inventory should lease up relatively quickly.”
