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Storm Properties Announces Grand Opening of ALDI at Its Redondo Plaza, Gardena

November 29, 2018

GARDENA, Calif., Nov. 29, 2018 (GLOBE NEWSWIRE) -- A recent ribbon-cutting ceremony celebrated the grand opening of leading grocery retailer ALDI’s 20,000 square-foot store, at Storm Properties Inc. ’s Redondo Plaza located in Gardena, Calif.. Several hundred people lined up on the morning of November 1 as ALDI opened for business. Gardena Mayor Tesha Cerda welcomed the new tenant as a great addition to the city, after which a ribbon-cutting ceremony marked the official opening.

The ALDI store anchors the 100 percent leased center that boasts a desirable mix of regional and national tenants. It is located at 1550 W. Redondo Beach Blvd., on one of the main thoroughfares in Gardena that boasts more than 33,000 vehicles per day, and more than 230,000 residents within a three-mile radius. The Gardena store’s convenient layout focuses on what people want most: fresh food, produce, dairy and baked goods. ALDI stores also feature open ceilings, natural lighting and environmentally-friendly building materials.

This is the first location to open in Gardena and is a part of the firm’s $3.4 billion U.S. investment plan which calls for 2,500 stores nationwide by 2022. There are currently 1,600 stores in 35 states. ALDI also was named 2018 Retailer of the Year by Supermarket News.

“ALDI stores look and feel different, and that’s by design. Our shopping experience was created to make life easier for our customers,” said Tom Cindel, Group Director of Operations and Logistics, Moreno Valley division, for ALDI. “Our exclusive and streamlined selection gives shoppers the food they need at the prices they want, including hot new trends and healthy-living options.”

Storm Properties currently manages a diverse portfolio of industrial and retail properties and is targeting significant growth through further acquisitions. Its efforts are focused on core-plus to value-add retail and industrial properties in the $5-million to $30-million range in major Western metro markets. Additionally, Storm is seeking additional land opportunities for residential entitlement and commercial/industrial development.

Storm Properties, Inc. is a subsidiary of Torrance-based Storm Industries, Inc., an innovative and entrepreneurial organization with a growing family of companies. Over its 86-year history, Storm Industries, Inc. has evolved from a single brass foundry in Los Angeles to a highly diversified group of businesses operating across the globe.

For more information, contact Alan Kwan, Senior Director of Acquisitions, at (310) 986-2432, or via email at akwan@storm-properties.com. Also, visit the website at www.storm-properties.com.

Contact: Ann Romano

(949) 496-1076

(949) 310-5876 cell

annromano@cox.net

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/cd9752ce-19c2-443c-87d7-946e6410270a

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