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June 10, 2010

Grocery Outlet plans East Bay expansion

By George Avalos, Contra Costa Times

Grocery Outlet is making good on expansion plans. The discount realtor said Wednesday that it had agreed to leases for new stores in Concord, Dublin, Gilroy and Watsonville, and it is opening a store in Pinole.

"We are in very high gear and expansion mode," said Marc Drasin, vice president of real estate for Grocery Outlet Inc. "We are signing a record number of leases and opening a record number of stores."

The retailer, like others, is attempting to capitalize on the tough commercial real estate market, a sector whose property values and rental rates have plunged during the past few years.

Complete article can be found at: http://www.insidebayarea.com/business/ci_15262208

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