Nick Chop Commercial Appraisals

Commercial real estate valuation throughout North Florida.

Food Lion Closes in Middleburg

Food Lion Closes

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I’m late to announce this as it looks to have been closed for a bit.  The Middleburg location (sort of South Orange Park at corner of CR 220 and College Drive) has closed.  Food Lion, 2570 County Rd 220, Middleburg.  Can’t say I’m surprised, but unfortunate for the employees and the nearby residents that will have to travel either to Blanding Boulevard or Fleming Island to shop.

Village Shoppes at Doctors Inlet

This shopping center has struggled keeping their second tier anchor occupied (it has been a number of restaurants) containing 4,800 square feet.  This along with the 38,000 square feet of ex-Food Lion space.  The asking lease rate is $10.00 PSF for the restaurant space and $13.50 PSF for the ex-Food Lion Middleburg space.

Jacksonville Restaurants

The “too large” empty restaurant space is becoming a norm in the Northeast Florida area.  I see many spaces too large for their location/demographics.  New restaurants have a tough enough time surviving (in this case) without nearly $50,000+ annual lease payment.

What to do with closed grocery stores?

Regarding the empty Food Lion space and the 11 other locations that closed in the Northeast Florida area.  When a Steinmart (37,000 square feet) closed nearby my house, I thought with this economy why not an indoor flea market.  Seems the demographics and spending habits have significantly changed since say 2007 to support it.  I’ve proved I’m not going to move on that idea alone, so I suggest it to all.  Some large vacant spaces here in Northeast Florida would be prime spots for this use.  I have a few suggestions.  The Steinmart that closed in Fleming Island Shopping Center (aka Eagle Harbor Publix shopping center) is opening back up as a pet store, at least a portion of it is – about half.  Anyone interested in joint venturing with this flea market idea, let me know.

Contact Nick Chop, MAI Appraiser

Florida real estate appraiser with commercial appraisal services including the valuation and consultation of retail, office, restaurants, industrial, convenience stores, vacant land, other uses and eminent domain appraisal.

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