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California Firm Acquires Evanston Trader Joe’s

Loja Real Estate purchased the Trader Joe’s store in Evanston, as well as another store in Albuquerque, New Mexico, or approximately $15 million.

A California-based real estate company recently snapped up Evanston’s new Trader Joe’s store from local developer Terraco. 

Loja Real Estate paid a total of $15 million for Evanston’s Trader Joe’s store and a second store in Albuquerque, New Mexico, on Oct. 2, according to a press release from the company. Loja already owns three other Trader Joe’s stores, according to the release.

“These recent acquisitions fit our overall strategy of acquiring single-tenant retail properties supported by best in class retailers located in highly desirable locations,” vice president of acquisitions Scott Kyman said in the release. “At Trader Joe’s Evanston we are drawn by the economic drivers of being located in a college community in an irreplaceable location.” 

Loja is a real estate investment firm that manages $190 million in commercial properties, according to its website.

In other grocery store news this week, Safeway announced that it would be selling all 72 of its Chicago-area Dominick’s stores. There are two Dominick’s stores in Evanston, one at 2748 Green Bay Road and another at 1910 Dempster St.

 

 

 

 

 

 

Jim Osburn October 14, 2013 at 11:12 AM
The article is unclear, did Loja just acquire the land (a sale/leaase back) or is it going to operate these Trader Joe stores? This would make a big difference on how we view how this would affect this transaction.
Jennifer Fisher (Editor) October 14, 2013 at 11:17 AM
Jim, thanks for reading. I'm fairly certain that they are not going to operate the Trader Joe's stores, but I'll see what I can find out.
Jennifer Fisher (Editor) October 14, 2013 at 11:40 AM
To answer your question, Jim, a representative from Loja told me that Trader Joe's will continue to operate the store.

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