Giant, Stop & Shop sell distribution facilities
Jan 24, 2006 9:00 AM, from staff and wire reports
The Stop & Shop Supermarket Co and Giant Food have completed the sale of Giant Foodís distribution and office facility in Landover MD and Stop & Shopís distribution facility in North Haven CT. The two properties were sold to affiliates of Preferred Real Estate Investments of Pennsylvania in a combined real estate transaction for $89.95 million.
Although no immediate plans for either location were released, the two sites will become part of Preferred Real Estates Investmentsí future development program.
Giant also expects to conclude negotiations soon for its new regional offices at a location near the Landover site.
Stop & Shop plans to close the North Haven distribution facility and transfer its operations to the firmís distribution facility in Freetown MA and to a third-party supplier.
© 2013 Penton Media Inc.
Acceptable Use Policy blog comments powered by Disqus