Food Lion Shuttering First Coast Stores

Food Lion has been fighting the war with Winn Dixie, Save-A-Lot, and new players Family Dollar and Dollar General and cannot get ahead. The losses have been mounting for some time and they have finally decided to pull out of the market. All in all 20 First Coast Shopping Centers are losing out on the anchor or one of the anchors. Further complicating the issue for Landlord's that are tight on Debt Coverage Ratio's or having balloon notes coming due. With the economy still fighting to come back to the old normal many of the smaller co tenants in the Food Lion centers will suffer another huge blow as the customers that were attracted to the Grocer are no more. It will be imperative to back fill the space as quickly as possible but that will be a daunting task. As you travel the city their are numerous big box spaces to be filled. Many old Winn Dixie boxes are vacant and even a few Pic n Saves. Let's hope things continue in a positive manner and that the vacant boxes can be filled. Maybe we get lucky and another Grocer enters the market and can compete.