National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Major Asian American Grocer Selects Cushman & Wakefield for National Roll Out
iFresh, Inc., the first Chinese supermarket to be listed on a major American exchange (Nasdaq), has its eyes on rolling out across the U.S. The grocer, which envisions filling a need for hard-to-find food and other merchandise that mainstream grocery stores overlook, selected Cushman & Wakefield as its exclusive real estate services agent.
The supermarket chain, which aims to provide fresh products and quick service to satisfy Asian Americans’ demand, is making big waves in the U.S. Its planned national expansion comes at a time when the entire grocery retail sector is rapidly evolving to keep up with consumer demands of speed, convenience and quality.
iFresh plans to keep up with the evolution using its full-service approach. The chain has the ability to import and export goods, run wholesale and retail businesses, and manage its warehousing and logistics all under one roof. iFresh also touts an in-house proprietary delivery network, and maintains a strong relationship with farms that produce Chinese specialty produce.
Headed by Executive Managing Director Diana Boutross and Executive Director Harry Krasman, Cushman & Wakefield’s team will lead the efforts to find locations for iFresh’s nationwide expansion. Boutross said, “We believe that iFresh is well-positioned in this evolving retail environment. With coverage on both fronts, iFresh is positioned to take their sector to great strides.”
Headquartered in New York, iFresh currently has nine brick-and-mortar stores along the East Coast, two in-house wholesale businesses in locations with high Asian populations, six managed stores, and an online grocery business.
For comments, questions or concerns, please contact Daniella Soloway
