Grocery Outlet Bargain Market has signed-on to take over the end portion of the former ShopRite property in Gibbstown, NJ.
The newly empty larger space is being split into 3 units (with Grocery Outlet on the end), and the leasing firm indicates another national tenant is in the process of completing their lease for one of the other 2 units.
ShopRite in Gibbstown closed last month. The new ShopRite Center Square location is due to open in about a week! (Note: also coming to the Gibbstown Center is Tacqueria El Compadre! I’ll have more on them soon!)
If you are unfamiliar with Grocery Outlet, they have over 400 locations in United States but are newer to our area. They recently opened a location in Delran NJ and have a few locations in Philadelphia.
They describe themselves as the largest “opportunistic buyers” of grocery items in the country, as they travel the world looking for the most exciting deals.
They state they carry the same name brands you would find in traditional supermarkets but at heavily discounted prices… pennies on the dollar in many situations.
The model appears to be working for them because recent reports state that same store sales increased 12.1% in the first quarter of 2023, driven by a 7.9% increase in transactions. Things are going so well they had to raise their financial guidance for year!
I know everybody wants to know what the timing is for Grocery Outlet’s opening in Gibbstown is, as well as what the other stores are planned for the two remaining larger units.
Well this is breaking news and I really just became aware of it a few hours ago.
I have sent a few questions to the leasing firm (for the shopping center) and I likely won’t hear back from them for a bit, but I wanted to get this information online for folks, regarding Grocery Outlet.
Indications are that as part of the effort to bring Grocery Outlet on board (and the two other large units once signed) that the front façade of the building is likely going to be stripped off and rebuilt to represent it as three distinct retail units. A similar process as to what happened over in Glassboro for their former Kmart building.
If you are interested in renting space in the Gibbstown Shopping Center, reach out to Equity Retail Brokers.
Keep scrolling and reading to learn more about Grocery Outlet!
Grocery Outlet – Opportunistic Buyers
Grocery Outlet is looking to be a one-stop shopping experience for their customers, but blending two buying methodologies which balance providing amazingly discounted product deals, filled out with a well-rounded inventory which provides a complete shopping experience.
Grocery Outlet is very honest and up front about their “opportunistic” buying model which in part targets excess inventory from packaging changes, manufacturing overruns or other opportunity deals.
They are able to buy the excess products for pennies on the dollar for example, passing the savings on to consumers.
It would seem that the product selection changes based on the deals at the time, but Grocery Outlet aims to offer a full array of products in every category, so that you can make it your one-stop grocery shopping experience.
As an example they also fill out the store inventory with basic necessity items such as milk, eggs and meat… things that typically aren’t going to get drastically big discounts from suppliers. but they know you’re going to want them to fill out your full shopping experience.
Of course they’ll be sold at the best prices possible.
And to help you take advantage of all of their amazing deals (which could arrive at any time), they offer Wow Alerts. Grocery Outlet says they get deals that are just so amazing, in real-time they will send you an e-mail of the top selling, unadvertised deals from your local store directly to your inbox.
Remember many of these deals are opportunistic so the product may not be around for long! When you get your Wow Alert you may need to act fast on it!
Another interesting twist on their model is each grocery store is individually owned, somewhat in a franchise model.
While other Supermarkets do have a model where groups of stores are owned by independent businesses, Grocery Outlet says they look for owners who are local to the marketplace. Say, a family that is looking to branch into something new and exciting.
I’ll have more on Grocery Outlet and the other stores to come to Gibbstown, as I learn more details.
And guess what… more Grocery Outlet stores are planned for South Jersey! More on that later, also!
Links and Locations
Grocery Outlet Gibbstown (Planned)
401 Harmony Road