ALDI SIGNS LEASE IN WILLOUGHBY HILLS, OHIO

Carnegie Management and Development Corporation announced that it has executed a 20-year lease with ALDI for its freestanding building located at 2821 Bishop Road in Willoughby Hills, Ohio. This marks the fifth ALDI store in Carnegie’s retail portfolio, joining locations in Medina, Westlake, Middleburg Heights and North Ridgeville. The 25,000 square foot facility was originally constructed for Sears Hardware and will be extensively renovated by ALDI into its current prototype grocery store. Construction commenced in early June and the store is expected to open to the public in late 2019. Dr. Rustom R. Khouri, President and CEO of Carnegie Management, said, “We are thrilled to extend our strong relationship with ALDI to yet another excellent location. We and ALDI both expect that this store will be a strong performer for many years to come and we look forward to exploring more opportunities with ALDI in the future.” Aldi is one of the world’s largest grocery store chains, with over 1,600 stores in the United States and more than 10,000 stores worldwide.

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