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Kroger Limited Partnership I Purchases 13.511 Acres in Portsmouth for New Kroger Marketplace Location

For Immediate Release
Contact: Susan Childress Corporate Marketing Director schildress@slnusbaum.com 757-282-6505
SL Nusbaum X Team

Norfolk, VA - (November, 2013) - S.L. Nusbaum Realty Co. is pleased to announce that The Kroger Limited Partnership I has purchased 13.511 acres at the former I.C. Norcom High School site at Frederick Boulevard and Turnpike Road in Portsmouth, VA from the Economic Development Authority of The City of Portsmouth for $1,823,985.00. Tommy Drew, John Litz and Jim Gresock represented Kroger.

The new 124,000 square foot Kroger Marketplace to be built on the site will bring hundreds of jobs to the City and will generate more than $850,000.00 per year to Portsmouth in tax revenue.  The new concept Kroger store will feature 94,000 square feet of grocery and approximately 30,000 square feet of general merchandise, pharmacy, health and beauty and jewelry.

S. L. Nusbaum Realty Co. was appointed as Exclusive Representative for Kroger Mid-Atlantic in its search for sites in the Greater Hampton Roads region of Virginia for the new Kroger Marketplace concept store. This will be the second Kroger Marketplace location to-date in the Hampton Roads region with plans for an additional four to five locations within 2014 and 2015.

Kroger, one of the world's largest retailers, employs more than 339,000 associates who serve customers in 2,425 supermarkets and multi-department stores in 31 states under two dozen local banner names including Kroger, City Market, Dillons, Jay C, Food 4 Less, Fred Meyer, Fry's, King Soopers, QFC, Ralphs and Smith's. The company also operates 788 convenience stores, 342 fine jewelry stores, 1,124 supermarket fuel centers and 37 food processing plants in the U.S. 

Kroger recently purchased Harris Teeter Supermarkets in a $2.4 billion deal in which Kroger acquired 212 stores in what Kroger called attractive, high-growth markets in the eight Southeast and Mid-Atlantic states and Washington, D.C.

With over 111 years of expertise in the real estate industry, S.L. Nusbaum Realty Co. manages, develops and provides sales and leasing services for shopping center projects, apartment communities, office and industrial properties throughout the Mid-Atlantic.

 

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