Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/122387
r e T a i l i n g T o d a y of driving that strategy," said McLean. Grocery-anchored centers account for about 90 percent of the company's 150-property portfolio. "You will see continued consolidation and shift in this industry," said McLean. "We track that, and we are very conscious of who we are aligning ourselves with brandwise to make sure that we are sending a consistent message to our communities." The firm has opened new centers in the past year with MOM's Organic Market, Trader Joe's and Whole Foods, among others. Grocery sector expansion is presenting both opportunities and challenges for owners and developers as grocery chains battle in an industry notorious Leasing Inquiries: Carlos Guzman, VP 305.779.3173 cguzman@crec.com Steven Henenfeld, VP 305.779.3178 shenenfeld@crec.com the centersof attention Join Publix, CVS, Staples, Starbucks, Anna's Linens, Party City & others Weston Lakes Plaza, Weston, FL Kendall Mall, Miami, FL www.crec.com 888.488.CREC Your Florida Partner 56 SC T / M a y 2 0 1 3 for low margins. Minneapolis-based Supervalu has been struggling under a heavy debt load, which has sparked layoffs and restructuring. The company has agreed to sell a large chunk of its stores, including Acme, Albertsons, Jewel-Osco, Shaw's and Star Markets, to an affiliate of equity fund Cerberus Capital Management. Charlotte, N.C.– based Harris Teeter is shopping for a buyer for its 200-plus stores. There is a sense of vulnerability for a big portion of the grocery market: the traditional grocery, particularly those Walmart's move to roll out its Neighborhood Markets units in several metro areas could break the camel's back for many struggling grocers. local or regional chains that are unionized. The likes of Food Lion, Safeway and Supervalu have hit the wall, says Brown. It is hard for them to compete with the price points from the discount category, and they also face the higher costs associated with unionized labor. Walmart's move to open its Neighborhood Market units in several metro areas could break the camel's back for many struggling grocers, says Livingston. "Developers still want grocery anchors, but they are more cautious about getting into long-term leases with the financially stressed, sterile chain stores," he said. "They are looking for the successful, debtfree grocers." SCT