fbpx

Yesterday I wrote that Amazon had bid on four Fairway Market stores (Amazon bids on Fairway Market stores in NY and NJ), along with bids from ShopRite operator Village Super Market and Food Bazaar operator Bogopa. In all, Fairway Markets, which had filed for Chapter 11 bankruptcy, operates 14 stores in New York City, Long Island, Westchester County, New Jersey and Connecticut.

Late yesterday the news broke that Village Super Markets emerged as the winner for five of the stores and the perishables distribution center. Amazon was awarded two stores. Key Food member Seven Seas had previously been the winning bidder on a Brooklyn store.

Village Super Market, which operates 30 ShopRite and three Gourmet Garage units, will pay $76.2 million for four Manhattan stores plus one in Pelham Manor, NY (Westchester County). Amazon’s price for the leases in Paramus and Woodland Park, NJ is $1.5 million. Seven Seas paid about $5 million for the Brooklyn location.

A hearing to approve the sale to Village and Amazon will be held on April 14.

Six Fairway Market stores did not receive offers (Westbury, NY; Plainview, NY; Douglaston, NY; Brooklyn/Red Hook, NY; Manhattan/Harlem, NY, and Stamford, CT). Fairway and its debtors have the option to open up a new bidding process if they so desire.

Contact Us:

Equity Retail Brokers
531 W. Germantown Pike, Suite 103
Plymouth Meeting, PA 19462
Main: 610.645.7700

The right space. The right move.

Our Affiliations: