Some foods are expected to cost more in 2024
The U.S. Department of Agriculture predicts a 0.6 percent decline in food prices in 2024. However, experts say some items could still cost more this year.
German grocer Aldi, which is rapidly expanding its presence in the greater Phoenix area, is moving forward with construction of a grocery store in Gilbert, to be built near Arizona Avenue and Desert Lane.
The store will be built on a 3.6-acre site that is part of a 10-acre master plan. The small-footprint grocer will build a 19,400-square-foot store with 94 parking spaces, according to documents submitted to the city. The site where the store is planned includes a vacant building and a parking lot that was previously used for auto sales.
“This underutilized site offers the potential for redevelopment as a grocery store that supports surrounding residential, commercial and employment uses,” representatives of the developer wrote in a letter to the city.
According to city records, Aldi had been approved for the site in 2018, but the permit had expired and required a new filing.
According to a study by Chain Store Guide, Aldi has 12 open stores in Maricopa and Pinal counties, making it the ninth most open store in the metropolitan area. The chain generated $78.87 million in sales in the metropolitan area in 2023, representing a 0.40% market share.
Four-storey residential building planned
The Gilbert store is part of a master plan for a 10-acre site that also includes an apartment complex.
According to real estate database Vizzda, Aldi sold the remaining land in the master plan to Wood Partners in March 2024 for $3.45 million.
The apartment building will be four stories high and will have a total of 257 residential units on the 4.9-hectare site. There will be a parking garage that will be “wrapped” by the residential units and located inside the building.
You can reach the reporter at [email protected]. Follow her on X, formerly Twitter: @CorinaVanek.
