Aldi Acquiring Colonial Landing Lucky’s Market Location
Lucky's Market released a list of stores being acquired by Aldi (Website) Wednesday and the location across from Fashion Square Mall at inside Colonial Landing shopping center at 3230 E Colonial Drive (MAP) was on the list.
The store is across the street from Fashion Square Mall which will soon undergo a large transformation including the addition of a hotel, apartments, 500,000 SF of retail, restaurants, and a parking garage.
Lucky's is selling a total of five leased stores and one owned location to Aldi including one at 11601 Regency Village Drive (MAP) in Orlando. The rest are in Coral Springs, Oakland Park, Sarasota and Venice.
Aldi, known for no-frills, low-priced grocery shopping, typically offers up a smaller store footprint than the average Lucky's Market 25-30,000 SF. However, it appears the chain is going in a bigger direction as evidenced by its signing of a lease in 2019 for a 25,000 SF space in Washington DC and another in New Jersey.
In 2018 Aldi began refurbishing its 1,800 stores and plans on opening 700 news ones by 2022 according to Kiplinger. Aldi has more than 1,900 stores in 36 states.
The fate of another Orlando area Lucky's Market also came to light this week. Publix is purchasing the lease of the Lucky's Market in SODO at 3171 S Orange Avenue (MAP). It is unknown if a Publix or its other brand, Greenwise Market, will fill the space. It's also buying leases for stores in Clermont, Ormond Beach, Naples, and Neptune Beach.
The Melbourne location of Lucky's is being sold to the original founders of the company, Bo and Trish Sharon along with the other 6 surviving stores of the 39 that got shut down across the country.
The other Orlando area locations waiting to be announced are one in Orlando at 11750 E. Colonial Drive, one in Winter Park and another on Hunter’s Creek.
The Lucky's Market leases became available because Kroger divested themselves of their investment and 55% ownership stake in December 2019, leaving the company to close 32 of its 39 stores across the US and eventually declaring bankruptcy. Lucky’s Market said in its Chapter 11 filing it had $100 to 500 million in assets along and $500 million to $1 billion in liabilities "owed to thousands of creditors."
Kroger is building a $125 million online and delivery customer fulfillment center in the city of Groveland which is expected to be completed by 2021.
The first Orlando Lucky's Market location started construction in 2015 in the Wateford Lakes area and held its grand opening in 2016. In 2017, the chain announced the locations of four other Orlando area stores. The newest location just opened June of last year across from Fashion Square Mall.