A&G Real Estate Partners markets closed Sprouts locations in five states as popular specialty grocer continues to expand nationwide
NEW YORK, May 2, 2023 /PRNewswire/ -- Ten Sprouts Farmers Market locations in five states are available for sublease by grocers and other large-format retailers, announced A&G Real Estate Partners, which is marketing the locations on behalf of Phoenix-based Sprouts.
Sprouts continues to open new stores across the country and closed these particular locations—in California, Florida, Georgia, Texas and Washington—as part of its overall strategic plan for real estate portfolio optimization, noted Joe McKeska, an A&G Principal and leader of the firm's grocery and restaurant industry practices.
"At a time of high occupancy and rents in strong retail corridors, not to mention astronomical costs for ground-up construction, these sublease deals are a rare opportunity to tap new markets and expand your reach," McKeska said.
The majority of the stores, which range in size from 20,000 to 44,000 square feet, have from five to ten years or more of remaining term. They are located in:
Sprouts is one of the largest and fastest-growing specialty retailers of fresh, natural and organic food in the United States, with approximately 380 stores in 23 states.
"This year alone, Sprouts has opened, or announced plans to open, new locations in Nevada, Florida, California, Maryland, Virginia, Arizona, Tennessee and Texas," noted McKeska. "Like all smart retailers, Sprouts is continually evaluating its portfolio and engaging in strategic store closures, relocations and sublease arrangements. These resulting subleases are a chance for other operators to locate in established retail areas with exceptional visibility."
The full store list is available here:
SOURCE A&G Real Estate Partners