In addition to creating uncertain futures for some 1,300 workers in the St. Louis area, Supervalu’s plan to sell off its Shop ‘n Save stores in the region also raises questions for the local real estate market.
Minneapolis-based Supervalu last week agreed to sell 19 Shop ‘n Save supermarkets to St. Louis-based Schnuck Markets, Inc. That leaves the fate of 14 Shop ‘n Save stores up in the air.
The situation is compounded by a glut of retail space still vacant from the departures of Toys R Us and Sports Authority, which together have vacated about 700,000 square feet of retail space in the area in recent years.
Kirkwood-based Shop ’n Save averages about 55,000 square feet per store, meaning the locations are likely too big for most retailers to take over.
Free-standing Shop ‘n Save buildings are easier targets for redevelopment.
Others may be candidates for purchases by chains like Whole Foods or Aldi, although neither of those grocers have signaled any interest in the Shop ‘n Save properties.
Read more: St. Louis Post-Dispatch