Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/122387
Pet Valu plans to open about 50 stores this year, in both Canada and the U.S., and roughly 60 each year for the foreseeable future. stores in the U.S. and roughly 120 in Canada. The current total is about 500 in North America, 80 percent of them in Canada and the rest spread across Maryland, New Jersey, Pennsylvania and Virginia. Pet Valu has plans to open about 50 stores this year, in both 138 SCT / m a y 2 0 1 3 Canada and the U.S., and roughly 60 each year for the foreseeable future. Some 70 percent of the Canada stores are franchised, but all of the U.S. stores are corporately owned and operated. The company says it does want to open franchises in the U.S., in time. "We are excited about the progress we have made entering into and expanding into Nova Scotia, Alberta, Saskatchewan and New Brunswick in the past two years," McNeely said. "We remain equally excited about expanding our footprint in the United States with new market entry into Connecticut and Long Island in 2013." Pet Valu stores range from about 2,000 to 4,800 square feet, but typically measure about 3,200 square feet. The chain makes an excellent shopping center tenant, says David Goldbloom, a senior vice president at Owings Mills, Md.–based Greenberg Gibbons Commercial, who started leasing space to Pet Valu about five years ago. "This retailer brings in a lot of customers because it's a service that is needed," he said. "They are typically located in densely populated areas that are mostly residential in order to service families. In my estimation, nobody does it better in their category in terms of service. They bring an added use to a center that's a little different, and it's a good use to add to the mix." Having national anchor tenants is fine, Goldbloom says, but it is retailers like Pet Valu that make for a good family-oriented shopping center. "The types of centers we have are mostly open-air, mixed-use lifestyle centers," he said, "and Pet Valu is a perfect fit." SCT For leasing information in the U.S., contact Jennifer Green, real estate manager, at jgreen@petvalu.com. In Canada contact John Fleming, vice president of business development, at jfleming@petvalu.com.