Kroger buys Florida shopping center

Started by retailisking, July 31, 2018, 05:30:36 PM

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giantsfan2016

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August 01, 2018, 05:29:09 AM
I always find it to be interesting when a retailer buys a shopping center. Rhode Island based close-out retailer Ocean State Job Lot owns many shopping centers in the states where their stores operate.

Meanwhile Centennial Plaza in Meriden, Connecticut is owned by Cornerstone Realty of Farmington, but the master lease is controlled by Stop & Shop, which operates a small and dated store in the plaza. I would assume since they control the lease Stop and Shop has to approve all new tenants. There are numerous vacancies in the plaza including a 68,000 square foot former AMES store that most recently was a location of the now defunct Connecticut based close-out chain Railroad Salvage.

I think Stop & Shop also controls the master lease of Columbus Plaza in New Britain, Connecticut where the discount supermarket Price Rite is located. They operated a small store there until the early 2000s. The city told them to either let Price Rite open a store in their former store or reopen Stop & Shop.
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