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PALM COAST, FL – June 30, 2015 – More shopping and eating options are headed to Palm Coast. The 12.37-acre parcel on the southeast corner of Belle Terre Pkwy and SR100, local politicians’ favorite election campaign sign location, has been sold. Clear Lake Holdings Inc., of California sold the property to PV-Palm Coast LLC (Paradise Ventures), of Safe Harbor, for $2,980,000. Newmark Grubb Phoenix Realty Group, of Jacksonville, brokered the transaction. The transaction closed on April 20, 2015.
Paradise Ventures calls their new shopping center “Shoppes of Palm Coast.” As readers know, “shoppes” are much more upscale than shops. Tenants lined up for the site include an Aldi discount supermarket, a Tractor Supply Co. (TSC) store, a 24-pump Gates gas station and convenience store and two unnamed restaurants.
Germany-based Aldi is a leading global food retailer with over 9,000 stores in 18 countries. Two brothers took over the company upon the death of their father. The two split the company into two separate operations, Aldi Nord and Aldi Sud, when they disagreed over selling cigarettes. The two companies are legally separate but operate under joint branding and purchasing agreements. In the United States, Aldi Sud operated the Aldi branded discount grocery stores while Aldi Nord owns and operates the Trader Joe’s supermarket chain. Trader Joe’s decision to build a massive distribution center in nearby Ormond makes more sense now.
Brentwood, Tenn.-based TSC is the largest operator of rural lifestyle retail stores in the U.S. with 1,400 stores in 49 states. According to the company website, Tractor Supply stores are located primarily in towns outlying major metropolitan markets and in rural communities. The typical Tractor Supply store has about 15,500 square feet of selling space inside, with a similar amount of outside space.
Stores supply the unique products to support their customers' rural lifestyle, from welders and generators to animal care products and men and women's workwear. You can also find pet supplies, animal feed, power tools, riding mowers, lawn and garden products and more. Each store team includes welders, farmers and horse owners who collectively provide an exceptional depth of knowledge and resources.
The new Gate gas station and convenience store will be the company's first in Palm Coast.