Aldi Readies to Open Long-Awaited Fairmount Avenue Store in Center City

Aldi, the German-based discount grocery chain, is scheduled to open a long-awaited store at 1300 Fairmount Ave. in Center City early next month.

It will join other grocers such as Giant, Acme and Whole Foods that have been expanding in Center City as its population has grown. Amazon is also expected to open a new store at a development proposed for 5th and Spring Garden streets in Philadelphia.

Aldi had signed in the fall of 2018 a long-term lease on 25,427 square feet at 1300 Fairmount but is now occupying 15,000 square feet. Why the store size shrank by roughly 10,000 square feet couldn’t be determined. A spokeswoman wasn’t immediately available for comment.

A New York real estate firm, developed 1300 Fairmount, a $190 million, 14-story, 624,575-square-foot building at the intersection of North Broad Street, Fairmount Avenue and Ridge Avenue. It has 478 apartments and is part of an ongoing renaissance underway along North Broad Street.

The Aldi is scheduled to open Dec. 3 and will be chain’s 11th in the Philadelphia area and part of its strategy to be the third largest grocery retailer in the United States by the end of 2022.

*Articles Courtesy of Philadelphia Business Journals

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