There’s a new location for grocery shopping coming to a centrally located Connecticut city.
Price Rite Marketplace will open a new location at Waterbury Shopping Center in Waterbury, according to Asher Zelson, of Charter Realty.
According to Charter Realty, it is Price Rite’s first new lease signing in more than five years, and the location is seeing a “retail resurgence.” Price Rite signed a 10-year lease.
“It’s exciting for the brand,” Zelson said.
The store will be a “new major anchor” and traffic driver, and will join TJ Maxx, US Furniture, Jersey Mike’s, Once Upon a Child and others on Wolcott Street, he said.
“There’s going to be a lot happening there,” Zelson said.
He said William Cafero of Charter Realty brokered the deal on behalf of the landlord, Tartaglia Commercial Properties.
Price Rite will use about 34,000 square feet in the building that formerly housed Ollie’s Bargain Outlet.
Efforts to reach a spokesperson for Price Rite were unsuccessful.
The company bills itself online as “on average,” able to save shoppers “up to 20 – 50% versus your regular grocery store.”
The company describe its product assortment as “fine-tuned and limited,” but said it has “diversity in the categories and brands we offer,” as well as leading national brands and a “high-quality private brand,” designed to give shoppers choice and selection.
Grocery prices have been an ongoing issue for Connecticut residents and came up during the recent election.
Senate majority leader Bob Duff, a Norwalk Democrat, said early this year that he has been stunned, like other consumers, when shopping for groceries.
“If you also leave the grocery store shocked by the amount that’s on the receipt, you are not alone and it is not in your head,” Duff told reporters. “Publicly available data suggests that the increase in grocery prices is due to stores’ increasing revenue — not inflation. … Corporate profits are at a 70-year high.”
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Price Rite is owned by Wakefern; it has Connecticut stores in Bridgeport, Hamden, Willimantic, Danbury, Wethersfield, Torrington, West Hartford, Windsor and New Britain.
“It’s great for grocery shoppers,” Zelson said. “It’s will bring an enhanced shopping experience and more choices to the Waterbury community.”
Charter Realty is a commercial real estate brokerage firm based in Westport.
Wakefern describes itself as a “retailer-owned cooperative” of 50 member companies that “independently own and operate 365 retail supermarkets.” Other members are ShopRite, The Fresh Grocer, Dearborn Market, Gourmet Garage, Fairway Market, and Di Bruno Bros., according to Wakefern.
