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LOI signed for new Albertsons in Ardmore, OK
Posted: January 9th, 2023, 10:30 am
by biggins
Albertsons has signed an LOI for a new 50,000 SF store in Ardmore, OK, about 90 minutes north of DFW. I assume this would be run out of the Southern division since Albertsons doesn't exist at all in Oklahoma right now. Curiously enough, this power center is named Market Street at Ardmore because when it was originally conceived back in 2017-18, the store was envisioned as a Market Street out of the United end of the Albertsons brand. It has also morphed over time in various site plans from a larger store (65,000+ SF), to not existing at all, to this smaller footprint as part of a phase two. The site plan below was released in December and is the first time the Albertsons logo has been used without the "proposed" nomenclature.
Ardmore is a heavy regional draw for retail, pulling in over $750-800mm a year in retail sales, and currently Walmart, Homeland, and Aldi are the only mainline grocers in town, so it is ripe for expansion.
Site Plan showing proposed location.
Contractor portal for bids for this store
Re: LOI signed for new Albertsons in Ardmore, OK
Posted: January 9th, 2023, 10:50 am
by pseudo3d
biggins wrote: ↑January 9th, 2023, 10:30 am
Albertsons has signed an LOI for a new 50,000 SF store in Ardmore, OK, about 90 minutes north of DFW. I assume this would be run out of the Southern division since Albertsons doesn't exist at all in Oklahoma right now. Curiously enough, this power center is named Market Street at Ardmore because when it was originally conceived back in 2017-18, the store was envisioned as a Market Street out of the United end of the Albertsons brand. It has also morphed over time in various site plans from a larger store (65,000+ SF), to not existing at all, to this smaller footprint as part of a phase two. The site plan below was released in December and is the first time the Albertsons logo has been used without the "proposed" nomenclature.
Ardmore is a heavy regional draw for retail, pulling in over $750-800mm a year in retail sales, and currently Walmart, Homeland, and Aldi are the only mainline grocers in town, so it is ripe for expansion.
Site Plan showing proposed location.
Contractor portal for bids for this store
They did propose a store in Durant several years ago but it fell through. The lack of real competition is probably a good sign though.
Re: LOI signed for new Albertsons in Ardmore, OK
Posted: January 9th, 2023, 10:58 am
by biggins
pseudo3d wrote: ↑January 9th, 2023, 10:50 am
biggins wrote: ↑January 9th, 2023, 10:30 am
Albertsons has signed an LOI for a new 50,000 SF store in Ardmore, OK, about 90 minutes north of DFW. I assume this would be run out of the Southern division since Albertsons doesn't exist at all in Oklahoma right now. Curiously enough, this power center is named Market Street at Ardmore because when it was originally conceived back in 2017-18, the store was envisioned as a Market Street out of the United end of the Albertsons brand. It has also morphed over time in various site plans from a larger store (65,000+ SF), to not existing at all, to this smaller footprint as part of a phase two. The site plan below was released in December and is the first time the Albertsons logo has been used without the "proposed" nomenclature.
Ardmore is a heavy regional draw for retail, pulling in over $750-800mm a year in retail sales, and currently Walmart, Homeland, and Aldi are the only mainline grocers in town, so it is ripe for expansion.
Site Plan showing proposed location.
Contractor portal for bids for this store
They did propose a store in Durant several years ago but it fell through. The lack of real competition is probably a good sign though.
True. My bias is showing, but I wish H-E-B were further along with their north Texas buildout and were considering some of the markets to the outlying northern areas such as this one. It reminds me of the Winn Dixie setup here in the 1980s through the 2000s, where they operated stores in southern Oklahoma as part of their Texas market.
Re: LOI signed for new Albertsons in Ardmore, OK
Posted: January 9th, 2023, 7:00 pm
by retailfanmitchell019
With this build, they are giving Reasor's (from Tulsa) a store to buy, with this Kroger/Albertsons megamerger going on.
Re: LOI signed for new Albertsons in Ardmore, OK
Posted: January 9th, 2023, 7:19 pm
by biggins
retailfanmitchell019 wrote: ↑January 9th, 2023, 7:00 pm
With this build, they are giving Reasor's (from Tulsa) a store to buy, with this Kroger/Albertsons megamerger going on.
This store would be well outside their footprint though. It seems equally as plausible that this gets stuffed under the United brand or sold off to another regional player like Brookshires if it doesn’t remain an Albertsons. Ideally, it actually does become a Market Street, as it would be the superior brand within 50 miles.
Re: LOI signed for new Albertsons in Ardmore, OK
Posted: January 9th, 2023, 8:27 pm
by architect
biggins wrote: ↑January 9th, 2023, 7:19 pm
retailfanmitchell019 wrote: ↑January 9th, 2023, 7:00 pm
With this build, they are giving Reasor's (from Tulsa) a store to buy, with this Kroger/Albertsons megamerger going on.
This store would be well outside their footprint though. It seems equally as plausible that this gets stuffed under the United brand or sold off to another regional player like Brookshires if it doesn’t remain an Albertsons. Ideally, it actually does become a Market Street, as it would be the superior brand within 50 miles.
Actually, Reason’s is now part of Brookshires, having been purchased in the past couple of years.
Re: LOI signed for new Albertsons in Ardmore, OK
Posted: January 9th, 2023, 11:33 pm
by storewanderer
I guess this will give Kroger a single store in OK.
I can't tell what the Homeland in Ardmore was. It was one of the few Homelands that got a "good" remodel before AWG sold the chain. It does not look like a former Albertsons. Homeland never built a store of their own until very recently so it was someone else's store first...
Re: LOI signed for new Albertsons in Ardmore, OK
Posted: January 10th, 2023, 8:00 am
by biggins
storewanderer wrote: ↑January 9th, 2023, 11:33 pm
I guess this will give Kroger a single store in OK.
I can't tell what the Homeland in Ardmore was. It was one of the few Homelands that got a "good" remodel before AWG sold the chain. It does not look like a former Albertsons. Homeland never built a store of their own until very recently so it was someone else's store first...
The Homeland was originally a Winn Dixie Marketplace, which was constructed a couple of years before WD exited the TX market. It replaced two older WD stores in town, the newer of which was part of Mountain View Mall (now the Shops at Ardmore).
Re: LOI signed for new Albertsons in Ardmore, OK
Posted: January 10th, 2023, 8:01 am
by biggins
architect wrote: ↑January 9th, 2023, 8:27 pm
biggins wrote: ↑January 9th, 2023, 7:19 pm
retailfanmitchell019 wrote: ↑January 9th, 2023, 7:00 pm
With this build, they are giving Reasor's (from Tulsa) a store to buy, with this Kroger/Albertsons megamerger going on.
This store would be well outside their footprint though. It seems equally as plausible that this gets stuffed under the United brand or sold off to another regional player like Brookshires if it doesn’t remain an Albertsons. Ideally, it actually does become a Market Street, as it would be the superior brand within 50 miles.
Actually, Reason’s is now part of Brookshires, having been purchased in the past couple of years.
I forgot this acquisition happened. There's a Brookshires about 45 minutes away in Pottsboro, TX - I still wonder if Brookshires might not be a more appropriate banner for the new store in Ardmore should it be sold off.
Re: LOI signed for new Albertsons in Ardmore, OK
Posted: January 10th, 2023, 6:14 pm
by storewanderer
biggins wrote: ↑January 10th, 2023, 8:00 am
storewanderer wrote: ↑January 9th, 2023, 11:33 pm
I guess this will give Kroger a single store in OK.
I can't tell what the Homeland in Ardmore was. It was one of the few Homelands that got a "good" remodel before AWG sold the chain. It does not look like a former Albertsons. Homeland never built a store of their own until very recently so it was someone else's store first...
The Homeland was originally a Winn Dixie Marketplace, which was constructed a couple of years before WD exited the TX market. It replaced two older WD stores in town, the newer of which was part of Mountain View Mall (now the Shops at Ardmore).
It looked a little small for a W-D Marketplace but this makes sense. Did Homeland get any other W-D Marketplace units?
I'm surprised how much money AWG put into this one- must have been one of Homeland's best stores.
Albertsons will probably cause Homeland problems. Supposedly there are some non-competes when Albertsons left markets, but I guess that wouldn't count here, and I am not clear how long those lasted.