Grocer ALDI Inc. Opens Doors in Windsor Center
Advance Realty, a leading Northeast U.S. owner and developer of Class A retail, office, multifamily, mixed-use and industrial-flex properties, announced today that ALDI will open its doors at Windsor Center in East Windsor, New Jersey. The national grocery leader recently acquired the Bottom Dollar chain and converted 30 of the 66 Bottom Dollar stores – including the former Windsor Center store – into ALDI locations.
Located at 440 Route 130, the intersection of Routes 130 and 571 (Princeton-Hightstown Road), Windsor Center offers tenants direct access to the growing, upper middle-class population base of East Windsor, Hightstown, Robbinsville and Cranbury. The 130,000-square-foot retail center is currently 77 percent occupied, following a capital-intensive effort by Advance Realty and joint-venture partner Structure Tone Equities to improve the site’s appearance and operational functionality.
Windsor Center’s roster of tenants includes national brands, such as Taco Bell and PNC Bank, both on pad sites, as well as Ross Dress for Less, SmashBurger, Retro Fitness, Staples and Benjamin Moore. The remaining 29,600 square feet is available for lease in various-sized units. Senior Vice President Jay Miller and Vice President John Krause, both of CBRE, represent the owners as the site’s exclusive leasing agents.
Mayor Janice Mironov stated, “East Windsor is a terrific home for new businesses due to our strategic location, high visibility and accessibility. Windsor Center is especially well situated at the intersection of two major roadways and has undergone a dramatic transformation in both look and occupancy with an array of great tenants. Windsor Center is a major shopping destination for the many residents in East Windsor and the surrounding region.”
Added Barry Quiner, Director of Asset Management for Advance Realty: “We’re very pleased that ALDI will join the growing list of blue chip retail tenants enjoying success at Windsor Center. We invested in this center because the combination of an affluent population base and convenient location promised a great deal of value to be unlocked. In attracting brands of ALDI’s caliber, the site’s potential is coming to fruition.”
About Advance Realty
Advance Realty is a privately owned real estate development, investment and management company headquartered in Bridgewater, N.J. Since its inception in 1979, Advance Realty has acquired or developed more than 10 million square feet of commercial, residential, R&D, industrial and mixed-use projects. Today, the company owns, manages and invests in a diversified portfolio of office, retail, industrial, residential and mixed-use assets in key urban and suburban markets along the Northeast Corridor. The company actively pursues real estate investments that provide opportunity to enhance value through development, repositioning and redevelopment. Advance’s strong capital base, fully integrated platform, outstanding talent and flexibility as a privately held organization position the company for continued growth. For more information, visit www.advancere.com.
About Structure Tone Equities
Structure Tone Equities is a private equity real estate investment company focused on value-added investments involving development, redevelopment, renovation and repositioning of asset. Structure Tone Equities plays a crucial role in protecting the return for each asset – managing risk, ensuring execution, and maximizing operating efficiencies. The firm focuses on commercial office, higher education, hospitality, retail and medical office properties.
About ALDI, Inc.
A leader in the grocery retailing industry, ALDI operates nearly 1,400 US stores in 32 states, primarily from Kansas to the East Coast. More than 30 million customers each month save up to 50 percent on their grocery bills, benefiting from the ALDI simple and streamlined approach to retailing. ALDI sells more than 1,300 of the most frequently purchased grocery and household items, primarily under its exclusive brands, which must meet or exceed the national name brands on taste and quality. ALDI is so confident in the quality of its products, the company offers a Double Guarantee: If for any reason a customer is not 100 percent satisfied with any ALDI food product, ALDI will gladly replace the product and refund the purchase price. ALDI was named the 2014 Retailer of the Year by Store Brands Magazine for its strong commitment to value and innovation-focused private brand product development. For more information about ALDI, visit www.aldi.us.
