Founded by Eligio“Leo” Pena, 100-store chain plans to open grocery store at the former 24,650 square foot Shoppers Food space by the end of March 2020
Compare Foods, grocery stores founded by Eligio“Leo” Pena - which has now expanded to 100 locations throughout six states - has selected Alameda Marketplace for its initial entry point into the greater Baltimore metropolitan region. Compare Foods acquired the lease from Shoppers Food (Shoppers) and will occupy 24,650 square feet in the former space that recently closed. Late last year, Shoppers announced its intentions to sell 13 stores and shutter four others in Maryland and Virginia as part of a nationwide divestiture of its more than 40-store network. Compare Foods intends to open by the end of March, 2020 and will employ more than 50 part-time and full-time workers. The grocery store also intends to open a second Baltimore City location at Anchor Square on Eastern Avenue as well as three in Prince George’s County, all acquired from Shoppers.
Alameda Marketplace is a nearly 125,000 square foot neighborhood shopping center located at 5600 The Alameda, anchored by Planet Fitness, Family Dollar and Adventure Dental and includes 10 complementary retailers. Baltimore-based commercial real estate development and investment firm Leap Tide Real Estate Partners acquired the asset last year.
Operating in six states including New York, Connecticut, New Jersey, Pennsylvania, Massachusetts, North Carolina, and Florida Compare Foods is using the purchase to initiate a Mid-Atlantic expansion program. Compare Foods sells more than 50,000 grocery items including fresh meat, fruits and vegetables and features deli and seafood departments. The location will also feature a hot bar buffet and prepared foods area and bakery with all products produced daily and on-site.
“Alameda Marketplace serves as the primary neighborhood retail center for a dense North and Northeast Baltimore population,” explained Aaron Loeb, Vice President of Leap Tide Real Estate Partners. “We are thrilled that the significant demand for this location was recognized and that it is among the first transactions to commence among the Shopperschain-wide divestiture. We are extremely impressed with the entrepreneurial skills of the management of Compare Foods who has demonstrated the ability to successfully compete with large supermarket chains head-to-head in an extremely challenging industry. We believe this privately-owned and community-oriented company, which emphasizes customer service and low prices, will resonate in Baltimore City.Its presence within Alameda Marketplace will also provide a positive impact to our entire tenant roster.”
“Compare Foods is configured as a traditional grocery store and there will be something for everyone in the surrounding community,” explained Eligio “Leo” Pena, Founder of Compare Foods. “Our operation is comparable to the former Shoppers butwill also include a larger and more varied selection of fresh fruits, vegetables and meats.”
More than 540,000 people reside within a five-mile radius of Alameda Marketplace including nearly 290,000 during the daytime and more than 215,000 households. More than 19,000 vehicles pass the site on a daily basis from The Alameda, with an additional 15,000 driving by the center from Chinquapin Parkway.
