The Genuardi's list - sold, closing and still for sale...

Below is an excerpt from the blog “Running with Equity Retail,” posted by David Goodman , agent at Equity Retail Brokers, on 1/27/12.

 (http://equity-retail-brokers.blogspot.com/)

The news of the sale of 16 Genuardi's stores to Giant is old news already (it was announced yesterday after months of rumors). Giant (Ahold USA) is paying $106 million in a sale that is expected to close later this year.

Safeway, which operates more than 500 stores nationwide under banners such as Safeway, Vons, Dominick's, Randalls and others, bought the once-popular Genuardi's chain in 2001. It has been slowly selling or closing stores over the last couple years as sales have continued to decline.

According to Safeway's Eastern Division President, Steve Neibergall, "We have made the decision to exit the Philadelphia market."

Here's exactly how it's happening:

Stores included in the sale to Giant (all in PA):
Abington (Roslyn)
Flourtown
King of Prussia
Lower Moreland (Huntingdon Valley)
Maple Glen
Marlborough (Kennett Square)
Middletown (Langhorne)
New Britain
Newtown
Springfield
Spring House
St. Davids
Upper Gwynedd (North Wales)
Warwick (Jamison)
West Chester
Wynnewood

Stores that will soon close (all in PA):
Exton
Norristown (West Main Street)
Royersford

Stores that are on the sales block:
Audubon
Barnegat (NJ)
Cherry Hill (NJ)
Conshohocken
Doylestown
Egg Harbor Township (NJ)
Evesham (NJ)
Norristown (Germantown Pike, East Norriton)

By the end of the year - and probably even earlier - it is likely that Genuardi's will be gone.

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Equity Retail Brokers is a full-service commercial real estate firm that specializes in retail properties located in eastern Pennsylvania, southern New Jersey and Delaware.  Equity Retail Brokers offers leasing, management, and investment sales services to owners of retail properties.  Equity also has a corporate real estate service group that offers tenant representation, consulting and disposition services to retail corporations.  Equity Retail Brokers is an affiliate of the Retail Brokers Network.  The Retail Brokers Network is an affiliation of over 60 real estate offices in North America.  For more information on Equity Retail Brokers, please contact Edward Ginn at 484-417-2201.