Dallas, Texas – A German investor represented by International Capital (IC) acquired a new Aldi Food Market 20-year ground lease in Palm Coast, Florida at the beginning of August. The property is located on the Atlantic coast between St. Augustine and Daytona Beach.
The new store opened at the end of July 2017.
The market is located on a busy East-West artery in Palm Coast on Highway 100, directly across the street from a large Target anchored shopping center
The Aldi is part of a new retail development on separate parcels with tenants such as Tractor Supply, Starbucks, and Taco Bell. This store is an example of the new Aldi US prototype. The retail area is with approx. 17,825 sq.ft. about 10% larger than older markets. Aldi is currently operating 112 stores in Florida with a total of more than 1,600 stores in the US.
The acquistion represented the customer’s first US investment through IC and was acquired without financing.
Martina Crevecoeur, CCIM, International Capital’s Vice President of Acquisitions/Dispositions represented the buyer in the transaction.
International Capital, LLC is a boutique real estate advisory firm with over 35 years experience representing more than 100 legal entities in its capacity as asset manager and as property manager. The company handles a portfolio of more than 20 properties in the southwestern United States. Offering a wide range of commercial real estate services, specialties include the acquisition, disposition, management and administration of commercial investment properties. Land and property development, funds conception, mezzanine financing and cash management are also integral parts of the company’s portfolio.