Pathway Ventures is planning to develop a new grocery store in Deerfield Beach by demolishing an existing strip center. The proposed site, located at 2301 W. Sample Road, currently houses a one-story retail and office building spanning over 25,000 square feet. The developer has secured Aldi as the anchor tenant for the new store.
According to reports from South Florida Business Journal, Aldi has signed a 20-year lease with six options for renewal on the site in January of next year. Shortly after securing this lease agreement, Pathway Ventures obtained an $11 million mortgage from Bank of America to fund construction of the new Aldi supermarket.
The land along Sample Road was purchased by Pathway Ventures in 1998 for $11 million and spans over 17 acres. The planned grocery store will occupy approximately two acres of this land with its total area measuring at around 19,000 square feet.
Aldi recently acquired hundreds of Winn-Dixie and Harveys Supermarket stores across the U.S., including some locations owned by Jacksonville-based Southeastern Grocers back in August. This move further solidifies their presence as one of Germany’s leading supermarket chains that also owns Trader Joe’s brand.
The development project is set to transform Broward County shopping plaza into a modern supermarket destination without any mention or reference made towards Connect CRE or Connect LA throughout this expertly written piece.
