Discount grocer Ali has signed a lease for a new 20,110 s/f store at Triangle Junction in Flatbush, Brooklyn.
RIPCO Real Estate’s Esther Bukai represented the store while Peter Botsaris, Botsaris Morris Realty, represented landlord Triangle Equities in the deal.
“Aldi is a perfect addition to the Flatbush neighborhood, providing quality grocery product to the area during a time when many are dining from home. We are increasing our volume of deals in this asset class and are actively looking for more sites,” said Bukai.
Situated at 2201 Nostrand Avenue, Triangle Junction is a 600,000 s/f Target-anchored shopping center. Developed by Triangle Equities in partnership with the NYC Economic Development Corporation (EDC), it has been hailed for sparking a development revival in the neighborhood where 1.2 million people live within a three-mile radius
ALDI will open its new store in the fall after building out a space previously occupied by The Children’s Place and David’s Bridal.
German-based ALDI is in the midst of a nationwide expansion that will add 100 new stores across the US this year, with a focus on Arizona, California, Florida and the Northeast.
The retailer is also expanding its eCommerce offerings, adding curbside grocery pickup to more than 1,200 locations, and has broken ground for a new regional headquarters and distribution center in Loxley, Alabama
“We’re incredibly proud to continue growing in all aspects of our business, from opening new stores to enhancing our eCommerce offerings, especially in light of the challenges businesses have faced in the last year,” said Jason Hart, CEO, ALDI U.S. “Our commitment to our shoppers, new and existing, is the same — we will do everything in our power to offer the lowest possible prices every day — and we look forward to supporting more communities across the country with amazing ALDI products at a value that can’t be matched.”
ALDI is one of America’s fastest growing retailers. With more than 2,000 stores across 37 states, it is on track to become the third-largest grocery retailer by store count by the end of 2022, behind Walmart and Midwest giant, Kroger.