Discount retail chain Grocery Outlet now has a presence in Times Square following its announcement of a new store in Idaho Falls.
Grocery Outlet, a well-known food price discounter, opened its 11th store in Idaho Falls on July 14. The store is located at 2455 E. 25th St., just east of the Grand Teton Mall in the 16,000-square-foot building formerly occupied by Big Deal Outlet. The new store was celebrated in both Idaho Falls and New York City, where digital signage at Times Square heralded the event. Grocery Outlet became a publicly traded business, joining the Nasdaq exchange in June 2019. It trades under the stock ticker of “GO” with a market cap of $3.28 billion, according to Nasdaq. It is part of the S&P MidCap 400 index.
Brian Wilson and Brent Wilson of TOK Commercial represented the property owner in marketing the space and facilitated negotiations between Grocery Outlet’s local owner/operator and the landlord, the real estate firm stated in a recent announcement, adding that the property’s signalized, hard corner location featuring exceptional visibility as well as adjacency to major employers and national retailers, were key to landing the Grocery Outlet tenancy. The over 18,000-square-foot interior space was finished to tenant specifications and officially opened to the public on July 14, 2022, after a ribbon-cutting ceremony.
“It was exhilarating to play a role in bringing Grocery Outlets to the Idaho Falls market. Our team enjoyed achieving both the landlord and tenant’s top priorities as we all worked together toward our shared goal,” Brian Wilson said in a statement.
Grocery Outlet stores have been running on a franchise model since 1973, with Grocery Outlet Holding Company as the franchisor. The company was founded by Jim Read in San Francisco in 1946 and is still managed by the third generation of the same family. Grocery Outlets, with over 400 stores across the nation and more than 1.5 million regular shoppers, is touted as the nation’s largest extreme value retailer offering consumers bargain deals on brand name groceries including fresh meat and produce, as well as natural and organic NOSH items.
Douglas Everett, Idaho Falls’ Grocery Outlet store owner/operator, stated that his team is “thrilled to provide the community with an exceptional, value-centric, friendly shopping experience each and every day.”