In that transaction, Sav-A-Lot, a St. Louis-based subsidiary of Supervalu Inc., was represented by Mike Murray of Metro Commercial Real Estate's Mt. Laurel, NJ office. Metro has now orchestrated some 70,000 sf of leases for Sav-A-Lot in the region. The ownership was represented by Dale Mulartrick of Levin Management Corp., North Plainfield, NJ. Terms were not released.
"Sav-A-Lot is emerging as one of the country's top value-added grocery chains," Murray says. "The store's latest lease will better enable the chain to meet its expected level of growth."
The opening brings a grocery element back to the repositioned Capitol Plaza, lacking since Super G closed its 70,000-sf store in 2005. That space has been subdivided by Levin, with Sav-A-Lot joining the recently opened Harbor Freight Tools, among others, in that vacant space. Other tenants include Forman Mills, Ashley Stewart, American Furniture, AJ Wright, Kicks USA and K&G Superstore.
"The Sav-A-Lot lease restores the center's grocery component, but with a smaller space requirement," says Mulartrick. "This enabled us to further diversify Capitol Plaza's tenant mix."
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