Benderson Development, a University Park, FL-based real estate company, today announced its major portfolio purchase of 28 dominant Fred Meyer stores located throughout the Pacific Northwest and Alaska. The acquisition adds approximately 4.5 million square feet of high-quality properties to the company’s growing portfolio, which now totals over 45 million square feet.
The Fred Meyer store chain is a wholly owned subsidiary of The Kroger Co. that began in 1931 in Portland, Oregon and merged with Kroger in 1998. Fred Meyer stores were among the nation’s first to offer one-stop shopping and have grown to become one of the largest supercenter operators in the U.S.
Marking a significant milestone, the purchase increases Benderson’s current footprint in Washington, Oregon, Idaho and Alaska. With four flagship Fred Meyer locations already in its portfolio, the transaction enhances a 20-year relationship between Fred Meyer/Kroger and Benderson.
“The Pacific Northwest has always been one of our top areas of interest to grow our national footprint,” said Randy Benderson, president and director of Benderson Development. “Fred Meyer is a leader in these markets, and we’re very pleased to strengthen and enhance our long-term partnership with them.”
Benderson has been aggressively growing its portfolio over the last few years. The Fred Meyer portfolio represents the company’s sixth major acquisition in the past 18 months, with total purchases exceeding $1.5 billion. Other significant purchases include the new Pioneer Natural Resources headquarters in Dallas, TX; Thrivent Financial headquarters in Minneapolis, MN; an interest in Duke Energy’s Metro Tower in Charlotte, NC; and ground leases under the Hampton Inn Manhattan/Times Square Central, The Highland Dallas, Curio Collection by Hilton, and Willard Towers in Washington, DC.
Founded in 1949, Benderson Development is one of the nation’s largest privately held real estate companies. Its portfolio includes more than 800 properties totaling over 45 million square feet in 40 states. For more information, visit www.benderson.com