The new Aldi store, Jefferson, which has been open about six months, has been sold. Ten Rules of Life, a German investor, acquired the asset for nearly $1.79 million.
The sale was completed in the summer. Aldi’s opened in the late spring.
The deal includes a 20-year, triple-net ground lease with Aldi with six five-year options to renew. Neal Pringle, the director of investment sales and finance wtth TCSG – the Shopping Center Group, which handled the sale – said the German investor was “attracted to the lucrative real estate fundamentals associated with this property – a secure lease in a fast-growing industrial and residential area.”
Aldi’s is off Old Pendergrass Road, adjacent to CVS Pharmacy and Hardee’s fast-food restaurant. It is visible from Hwy. 129 and is near the Kroger store in a strip shopping center.
The store "is hot right now and a top commodity among many real estate investors, and this location is just 10 minutes from the grocer’s southeast distribution center,” added Pringle. The chain was named 2018 Retailer of the Year by Supermarket News.