- May 2024
German Family Office acquires ALDI ground lease in Florida
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A German Family Office, represented by International Capital, purchased an Aldi ground lease in Port St. Lucie, approx. 51 miles north of West Palm Beach, on the Atlantic cost in Florida.

The Aldi grocery store is located on the northeastern city limits of Port St. Lucie, directly on US Highway 1 with traffic counts of 50,000 vehicles per day. Aldi has located itself along the dominant retail corridor in the eastern part of the city, relying on the proximity of other national retailers in the area.

The location has excellent visibility near Florida's Turnpike and Interstate 95. Port St. Lucie (population around 200,000) offers more affordable housing than the neighboring cities in South Florida and is very popular with commuters due to its good transport connections.

The new location is the third Aldi in the city area, which speaks for the strength of the location from Aldi's perspective.

The 20-year ground lease (plus six 5-year options) commenced in January 2024. The 19,209 square-foot building meets Aldi's latest size and equipment standards and is one of approximately 220 Aldi branches in Florida.

Martina Crevecoeur, CCIM, International Capital’s Senior Vice President of Acquisitions/Dispositions represented the Family Office in the transaction.

Martina Crevecoeur III
Martina Crevecoeur, CCIM
Senior Vice President, Acquisitions / Dispositions