“ALDI is hot right now and a top commodity among many real estate investors, and this location is just 10 minutes from the grocer’s southeast distribution center,” said Neal Pringle, the director of investment sales and finance for The Shopping Center Group, which represented property owner Gipson/Loggins Corners II LLC in the transaction.
The store is located near the Jefferson Kroger, reportedly one of the highest-volume Krogers in Georgia.
Pringle believes Aldi wanted the space so that it could be close to Kroger, which is one of its major competitors.
″[The Aldi will] provide some diversity in the pricing and types of products that are available in that market,” said Pringle. “Aldi is known as a discount grocery store with very competitive pricing with Kroger and Publix.”
Pringle says that being able to support a second grocery store is symptomatic of the area’s economic growth. The Amazon Fulfillment Center being built in that area is expected to bring in 1,100 new residents, in addition to the more than 212,000 potential customers who already live within 15 miles of the Aldi. SK Innovation is also building a battery plant, which is expected to create 2,000 new jobs by 2025.
“I think [the Aldi will] promote general retail growth in that corridor. Grocery stores are reflective of the expansion of the residential growth in that market, too,” said Pringle.
This location is one of many Aldi stores that will open in the country this year. It is at 1718 Old Pendergrass Road and is open from 9 a.m. to 8 p.m. daily.