Commercial Real Estate News
Discount Grocer ALDI Coming to Milford, CT
ALDI, International, the discount grocer headquartered in Germany, is continuing its expansion in Connecticut with the 40-year land lease of 232-242 Boston Post Road in Milford. Formally the landmark Gloria’s of Milford, a new 18,000 square foot state-of-the-art retail building will be constructed on the property to house the new grocery store. The Milford store will become the 10th ADLI store in Connecticut and the first outside the greater Hartford area. Jon Angel of Angel Commercial, LLC, the exclusive broker for the owner of the property, stated “the property was a natural fit for ALDI based on its convenient access to I-95, close proximity to the regional shopping district and location at a signalized full access intersection.” ALDI, a leader in the international grocery retailing industry, entered the US market in 1976. Today, nearly 900 US ALDI stores are located in 28 states from Kansas to the East Coast, serving more than 15 million customers each month. A discount retailer featuring its own private labels, ALDI sells more than 1,300 of the most frequently purchased grocery and household items in manageable, non-bulk packaging. As food prices have escalated in recent years, the rising demand for ALDI is fueling significant expansion. ALDI has been opening about 50 stores per year, with more than 100 new U.S. stores opening in 2008. “Aldi has a very efficient business model,” said Aldi spokesperson Martha Swaney. “If we are continuing to do well, we will expand in certain areas as we see it’s appropriate. We’re very particular about our locations because we choose them based on factors that will translate into savings on our customers’ grocery receipt.” Jon Angel of Angel Commercial, LLC represented TJLV, LLC, the landlord for the premises. This transaction leaves only the 1.2-acre triangular-shaped parcel with frontage on three streets available.