Real Estate Weekly
Image default
Featured Retail

Discount supermarket acquires former Toys R Us on Long Island

Discount supermarket chain Lidl has acquired a former Long Island Toys R Us store as it continues its push to open 50 new stores by the end of this year.

Kenneth Schuckman and Jessica Vilmenay of Schuckman Realty represented Lidl Market in the purchase of 1147 Old Country Road Riverhead, NY. Situated on 3.78 acres, the site was a 35,167 s/f Toys R Us before the toy chain went bankrupt in 2018.

Originally built as a Gamaldi’s meat market in the early 1990s, the property was sold by an affiliate of furniture giant Raymour & Flanigan, which had originally planned its own store on the site.

Schuckman Realty Inc represents Lidl in their expansion in Brooklyn, Queens, Nassau and Suffolk; most recently completing deals to bring a ground up Lidl Market to Deer Park and a portion of a former Waldbaums in Garden City Park as well as Riverhead.

 A number of additional deals are in negotiations throughout the territory, to be announced soon.

Lidl currently operates over 11,200 stores in 32 countries, employing more than 310,000 people globally. In June 2015, the retailer established U.S. headquarters in Arlington, Virginia. Today Lidl has more than 100 stores in nine states across the East Coast.

The company has announced plans to open 50 new stores by the end of 2021. In New York, Lidl opened its first store Staten Island Mall. It has also acquired the former Best Market space at 19-30 37th Street in Astoria, which it expects to open later this year.

(Visited 1 times, 1 visits today)

Related posts

Macquarie Group Signs 221,000 s/f Office Lease at Brookfield’s 660 Fifth Avenue


JLL names Erika Schanke Executive Vice President of Global Retail Business Development


The Rainier Companies continues Best-in-Class Retail Acquisition Strategy