Constructed in 2017, Centre Square Commons provide a best-of-class roster of service-oriented internet-resistant tenancy, anchored by the leading discount grocer in the United States, Aldi, in their latest prototype of 22,450 square feet.
Aldi, with over 13 years remaining on their lease, has sales that are up 55% since relocating within the market. With the chain having over 1,900 stores, rapidly growing and $18.4 billion in revenue last year, Aldi is the market leader in the discount grocery category while also reinventing their concept in the past few years by adding more fresh, natural, and organic and pre-made products, including a bakery feature to appeal to a higher income customer.
Weighted average remaining term for all tenants of 9.2 years speaks to the security of the shopping center
Average Base Rent of $30.00 per square foot and a 5-year CAGR of 2.40% through contractual increases provides for attractive institutional metrics on a market-leading asset