Grocery Chains Part of $202M, 7-State Development
Genuardi’s, Acme Markets, Giant-Landover and King Soopers are among the supermarkets that will be a part of 13 new planned retail centers around the country for which financing was recently secured.
Prudential Mortgage Capital Co. closed a $202 million loan for this national portfolio of developments, spearheaded by a joint venture between Regency Centers Corp. and Global Retail Investors, LLC. The portfolio includes 11 grocery-anchored retail centers, one grocery-anchored community center and one community center.
Two of three properties in the Philadelphia area are built around Safeway-owned Genuardi’s grocery stores, with the other around an Acme Markets (Supervalu) store. In northern Virginia, Giant-Landover (Ahold) grocery stores form the hub for two of three properties, with the third by Shoppers Food Warehouse (Supervalu). Similarly, Kroger’s King Soopers grocery stores will anchor two properties in the Denver market.
Also included in the portfolio are properties in northern New Jersey, Minneapolis, Baltimore, Seattle and Boulder, Colo.