The nine stores total an estimated 500,000 sf.
Although neither party would disclose the purchase price, Mark Sellers, president of Winn-Dixie's Central Florida division, says in a published statement the chain could have built nine comparable stores for less than the acquisition price.
Construction industry sources tell GlobeSt.com the estimated hard cost for nine 50,000-sf stores would be about $45 million, or $5.55 million per store.
Winn-Dixie plans to keep the Gooding's name on its new acquisitions for at least a year to appease loyal shoppers who have patronized the chain during its 36-year existence.
Jacksonville, FL-based Winn-Dixie is experiencing its roughest financial year in its 75-year-old history. The company lost $229 million in the first half. The stock is trading at $14 on the New York Stock Exchange.
Winn-Dixie has 149 stories in the 12-county Central Florida market.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
