Earth Fare Leases Sold to 10 Companies
MELVILLE, NY - Earth Fare—the organic grocery chain that filed for Chapter 11 bankruptcy reorganization back in February—leases are officially in the hands of a few retail heavyweights following a deal amounting to over $6 million. A&G Real Estate Partners announced this week that it has completed the sale of 10 store leases and negotiated lease termination agreements on nine other former Earth Fare locations.
The final leasehold sale to winning bidders closed on April 10, with the following retailers snapping up locations averaging 26,000 square feet and ranging in size from 21,000 square feet to 38,000 square feet:
- Four Florida stores (Boynton Beach, Jacksonville, Lakewood Ranch, and Viera) went to Southeastern Grocers’ Winn-Dixie chain
- Three stores (Athens, Georgia; Asheville, North Carolina; and Roanoke, Virginia) went to an investor group that includes one of Earth Fare's founders and several of the chain's former executives, who also acquired Earth Fare’s trade name and other intellectual property
- Two stores (South Asheville, North Carolina, and Chattanooga, Tennessee) went to Whole Foods Market
- One store (Tallahassee, Florida) went to Aldi
According to a press release, lease termination agreements were facilitated by A&G with landlords for sites in Gainesville, Ocala, and Palm Beach Gardens, Florida; Columbia and Rock Hill, South Carolina; Charlotte, North Carolina; Williamsburg, Virginia; Carmel, Indiana; and Portage, Michigan.
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