Series; In Today's Market, Grocery Stores are a Critical Anchor for Retail III

By
Commercial Real Estate Agent with KW Commercial

 This is the 3rd of a series that looks at the relationship of grocery anchored centers and the retailers located within the center.

The main nationally ranked grocers located in Clark County are in their rank order for average weekly sales for all locations.

  • Costco:                       $2,605,500
  • WinCo Foods:              $1,181,318
  • Wal Mart Superstore:    $1,089,632
  • Whole Foods:                 $538,461
  • Safeway:                        $453,000
  • Trader Joes:                   $440,384
  • Fred Meyer:                    $402,180
  • Albertsons:                     $343,699

 In today's economy and with high unemployment in Clark County near 13%, my advise to a potential retailer, if you're going open a store, then a grocery-anchored center is the best choice right now, simply because people still have to eat.  And that means they're still shopping for groceries.  Even if consumers may be buying less at the grocery store, they're still making the trip, and that can't be said for regional malls or other shopping destinations that are full of retailers who want to take your disposable income.  In view of the weekly sales statistics listed above, consider that Trader Joes and Whole foods are speciality grocers.  In addition, Albertsons has closed their doors on 164th and in Orchards.  Fred Meyers and Wal-Mart offers additional sales items beyond groceries which means more traffic.  Freddies on 134th, Mill Plain & Chklov and 164th are robust.  Great locations, easy access, heavy street traffic and plenty of roof tops equates to little or no vacancy in their adjacent retail space.  WinCo Foods, a discount, high volume grocer with 90,000 SF space per location now have 4 locations strategically located around the county and are expereincing heavier traffic even in the down economy.  They are a recession proof grocer as is Costco, which is about to break ground on their 2nd location in SW Washington.  Costco, Winco, Wal-Mart and Fred Meyers are nearly can't miss opportunities for potential retailers.  Top variables to consider are access, traffic flow and rental rates.  Even with a great anchor, if lease rates and NNN charges are $3 to $4 per square foot per month, that will make for challenging sale quotas. 

Posted by

Joe Sosky is the Managing Director for KW Commercial in Vancouver, Washington, as well as a developer of NNN leased properties.  Give me a call if you have a client who may want to buy, sell or lease a Commercial or Investment property.  Each month we teach people how to become a Millionare Real Estate Investor.  Our Workshops are held in Downtown Vancouver on the 3rd Tuesday of each month!  Email info@jtsinvesting for more information!

Joe Sosky; Commercial Real Estate Associate Broker and Investment Specialist
KW Commercial
360-816-9652
joe@kwcommercial.com

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate General Information
Location:
Washington Clark County Vancouver
Tags:
grocery anchored retail

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
1,350,060
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Hmmm...interesting, this search for recession/depression-proof businesses.  

Jun 05, 2010 06:24 AM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
109,265

Joe Sosky

Commercial Real Estate Broker - (360) 816-9652
Ask me a question
*
*
*
*
Spam prevention