ARLINGTON, VA - Lidl continues to make moves to grow its presence in the U.S. before opening its first stores. The retailer has reportedly bought up another site, this time in Philadelphia, for $2.88 million.
“They came in very aggressively with a lot of capital, with the intention of buying the best real estate in every one of the nodes in this entire area,” said Lars Kerstein, a Vice President with brokerage Metro Commercial Real Estate, according to The Inquirer. “They’re trying to blanket the region.”
While Kerstein is not currently involved in any deals entailing Lidl, he said that some of the chain’s moves, like that of choosing a location near a Walmart Supercenter and ShopRite store, add to its confidence of being able to compete with the big names in our market.
The latest spot is two parcels of land equaling about four acres, about $720,000 per acre, placing it just outside of the city’s center.
As we reported previously, Lidl is looking to own and operate up to 150 stores, mostly on the east side of the U.S., by 2018 alone. Already it is holding hiring events, the most recent taking place today in Eastern Carolina for stores it is building in Greenville, according to local news source WITN. While the plan is in motion, open dates for the retailer’s first U.S. stores have still not been released.
Will Harwood, Lidl US Public Relations and Communications Manager, declined to discuss specific locations with The Inquirer, but said the company is “actively preparing a number of sites in the area, and throughout Pennsylvania.”
While there haven’t been solidified announcements for its U.S. debut, the retailer appears to have its plans locked on several shopping hubs and a desire to make a big entry. AndNowUKnow will report on any updates with this and other expanding names in the retail market.
