Chain Store Age - July 2009

GROCERY-ANCHORED CENTERS

Grocers Shine in ’09
Premier grocery-anchored projects feature solid supermarket lineup

By Katherine Field

Not immune to the recession, but continuing to post solid performances, the supermarket seg- ment is providing developers with a still-powerful shopping center anchor.

In fact, the consensus is that if you’re going to open a store, then a grocery-anchored center is your best option right now, simply because people still have to eat.

Not every successful, or potentially successful, grocery-anchored center conforms to the “norm,” however; you’ll find supermarkets anchoring more than the traditional neighborhood center, but also mixed-use projects, big-box centers, upscale open-air developments and urban centers.

No matter the format, there are some widely accepted grocery-anchored leasing rules of thumb to consider.

First, make sure the center is the right center for your store concept — just because it is anchored by a grocer doesn’t make it the perfect center for you; second, examine the tenant mix to ensure the customer the center draws is your customer as well; and, third, make sure the location within the center is optimum in terms of sight-lines, adjacencies and parking.

On the following pages, Chain Store Age has highlighted four grocery-anchored centers that represent the various, and best, options available to retail tenants today. From the more traditional neighborhood format to mixed-use, all are anchored by highly successful grocers that act as customer magnets for not only the anchor but the ancillary retail as well. ■