Aldi buys Lone Star for Bradenton store

Aldi buys Lone Star
for Bradenton store

BUYER: Aldi (Florida) LLC, Batavia, Ill.

SELLER: Dispropco LLC

PROPERTY: 4705 W. Cortez Road, Bradenton

PRICE: $1.88 million

PREVIOUS PRICE: $1.22 million, June 1994

LAW FIRM ON DEED: Hunton & Williams LLP, Dallas

PLANS, DESCRIPTION: Batavia, Ill.-based discount grocer Aldi USA purchased a 10,076-square-foot former Lone Star Steakhouse restaurant building southwest of Cortez Road and 47th Street for $1.88 million.

The purchase price equated to $186 per square foot of building space.

The grocer plans to demolish the restaurant and develop a 16,929-square-foot grocery store on the 2.2-acre site. The new store, which will have 10,000 square feet of retail space, is scheduled to open in the fall or late summer and probably employ 10 people.

Lone Star Steakhouse & Saloon closed the Bradenton restaurant in early 2008.

It is apparent that the Tampa area factors heavily into the grocer's growth plans. Along with Bradenton, Aldi is currently developing new stores in Port Richey and Holiday; it plans to grow from nine stores to 20 in the region over the next two years.