By Independent Newsmedia
German grocer Aldi has sold part of a lot it owns in Gilbert to an apartment developer, according to commercial real estate website vizzda.com.
An entity tracing to Wood Partners acquired the property near Baseline and Country Club on March 18 for $3.45 million, or $16.30 per square foot, from Aldi with an unspecified amount of new debt per affidavit.
Aldi is planning to build one of its discount supermarket chain stores on the front of the lot while the Aldi Commons is built on the back end.
The sold land is 4.8591 acres, or 211,662 square feet, of vacant land zoned multifamily/high density by the town of Gilbert.
