Acme Markets is still in active negotiations with ShopRite over the vacant store in Collegeville.
Acme, which holds the lease at 222 E. Main St., left the location in February. Spokeswoman Taryne Williams explained the decision Friday.
“We made the decision to close Collegeville because we discovered we were over-stored in the area,” Williams said.
There is a relatively new Acme store in Limerick and another in Phoenixville.
In June, Collegeville Borough held a meeting during which Jim Madanci outlined ShopRite’s proposal to make $10 million in capital improvements to the Collegeville location. ShopRite operates under the Wakefern Food Corp. banner.
“The offer made by ShopRite was $300,000,” Williams said.
She acknowledged that handing over the lease to another grocery store would not be in Acme’s best interest. However, Acme is not “shutting down offers,” as reported in a local newspaper, Williams said.
“We’re not blocking an offer … Right now, the ball is in ShopRite’s court,” she said.
Messages left with Andrea Baptiste, a member of Collegeville Council and the borough’s Economic Development Council, were not returned. She had criticized Acme in a story published in The Mercury.
Linda Flederbach, director of Collegeville’s Main Street Program, deferred questions to Baptiste.
Recently, a petition has been circulating Collegeville in an attempt to pressure Acme into selling the lease to ShopRite. Small business owners in the shopping center have reported deceases in revenue.
Williams said the supermarket cares about the community. But she compared the real estate negotiations to someone selling their home. They would be reluctant to accept an offer below fair market value, Williams stated.
Acme has been “actively marketing” the location through Fameco Real Estate, according to the spokeswoman.
August 14th, 2009 at 8:51 pm
“Williams said the supermarket cares about the community. But she compared the real estate negotiations to someone selling their home. They would be reluctant to accept an offer below fair market value, Williams stated.
Acme has been “actively marketing” the location through Fameco Real Estate, according to the spokeswoman.”
Somehow I don’t think Acme cares too much about the local community. Those other stores are hurting a lot, due to the closing of the Acme and the vacancy left there. Rite Aid has already closed, and supposedly some other stores are dangerously close.
Does the Acme spokesperson quoted in this article really think that people will believe that they are open to reasonable offers, but only waiting for a “fair market” offer. How does she have the nerve to compare it to someone selling their house?
The “fair market value” of any property is whatever someone is willing to pay for it. Shoprite, according to the Acme spokesperson, has offered them $300,000 for their lease. The store has now been vacant for almost 7 months, and that has been their best offer. If you want to compare Acme to someone selling their house, I would compare it to someone who has put their house on the market for an unreasonably high price, and is refusing to lower their price, even though nobody is interested. Their house just won’t sell at their unreasonable price.
If Acme hasn’t gotten a better offer than from Shoprite in the past 7 months, there is a reason- nobody else is willing to give them as much. That should be a sign to them. Instead, they continue to pay the rent and leave the store vacant. They obviously don’t care about the ill effects on the community.
August 15th, 2009 at 11:56 am
Alex is right on! And what Ms. Williams did not disclose is that after Acme turned down Mr. Madanci’s offer of $300,000, the company has refused to tell him exactly what amount they will accept! That behavior does not sound like Acme is “actively marketing” the property at all–but rather stringing Mr. Madanci and the Borough of Collegeville along to keep out any competing grocery store as long as possible.
Acme’s business practices are morally wrong–and espeically so during this economic downturn. As the anchor store for the Collegeville Shopping Center, Acme’s choice of profits before people has adversely affected every single business in that center. Shame on you, Acme!
August 19th, 2009 at 3:01 pm
Shoppers,
Please avoid the ACME in Limerick. ACME is trying to get you to drive to Limerick rather than shop locally. Once they realize that they are gaining nothing with their tactics they will take the $300,000.00 and run.
August 20th, 2009 at 10:25 am
I suggest a boycott of not only the Limerick ACME but all ACME stores everywhere. Beginning immediately, I will bypass ACME for any other option. We have the power. We are the consumers. Thanks ACME management! I’ve been looking for a new cause to champion…….
August 20th, 2009 at 3:10 pm
in response to majority of anti acme. who are you to tell acme how to run their business? i’m sorry is this north korea? plain and simple, if they are paying the lease, it is up to them what they do with their building. it is not their obligation to carry everyone else in that shopping center. they did not say that they would not rent it out at all, just to another supermarket. their store in limerick has not done well at all, word is that they may pull out of there and come back to collegeville. the bottom line is, the choice is theirs. smart business is to keep their options open and not listen to the vast minority.
August 21st, 2009 at 9:30 pm
Frankie:
You are right in that Acme does apparently have the right to do what they are doing legally. The issue/concern that us residents have is the domino effect on the neighboring businesses and our community. Acme must not only consider their financial aspects of their business, but also another extremely important factor in their business- the value of goodwill. Acme’s goodwill is definitely taking a hit on this one.
August 23rd, 2009 at 10:02 am
Frankie,
“their store in limerick has not done well at all, word is that they may pull out of there and come back to collegeville.”
What are your sources?
August 23rd, 2009 at 3:13 pm
it’s what i know. the bottom line is all you guys want to do is bust thier chops, boycott, sign petitions, bitch n moan that they aren’t taking care of the shopping center by staying there. you guys would all change your tune if they choose to comeback, since the option is THEIRS since they still own the lease. it’s called business. they aren’t there to be a goodwill store.
August 28th, 2009 at 10:59 am
It is just business. And if we convince enough people to not shop at ACME its just business. I agree.
September 10th, 2009 at 8:08 am
It should not surprise anyone that Acme would act in it’s own best interest, and reducing the competetion in the area, and potentially keeping it’s options open, may well be in it’s best interest. Similarly, it should not be surprising that the residents of Collegeville would act in thier best interest in seeking a new tenant for the location, and potentially boycotting a business seen as not acting in good faith.
What surprises me most is the abscence of comment from the property owners. Perhaps the owners are still collecting on the lease from Acme, but as more tenants of the shopping center find turning a profit more difficult without the anchor store, this is likely to reduce the value of the property. And it is my understanding that it is the lower property values that risks lowering the tax base for the local real estate taxes, potentially placing the burden on the people of Collegeville to make the difference.
So I, for one, as a tax payer in the borough, will boycott Acme markets so long as thier actions risk making my tax bill higher and my shopping choices fewer.
October 3rd, 2009 at 10:24 am
I just discovered this site (Alex turned me on to it, and though I was aware of most of the facts, somehow I’d missed this tidbit:
“We made the decision to close Collegeville because we discovered we were over-stored in the area,” Williams said.
Does Acme actually think we’re that stupid? In all likelihood, some corporate hotshot saw the other stores going up in the Limerick area, said we’ve got to get in on it, and planned to close the Collegeville store all along . They thought they could force Collegeville shoppers to battle traffic (15-25 mins travel time) in order to use the new store. Sorry. Although I’ve been shopping at various Acmes for much of my adult life, and have probably spent thousands, if not tens of thousands of dollars there, I’ve been boycotting Acme for several months, and urge others to do likewise.