Stores “have been shopped for many years and buyers have turned away,” veteran grocery analyst David Livingston said. “But everything has some value and, when it’s cheap enough, someone will buy.”
Pittsburgh-based Giant Eagle Inc. operates nearly 230 groceries, including the 125,000-square-foot Market District that opened in Carmel in October 2015. The company also owns five GetGo convenience stores in the metropolitan area but is vague about growth here.
But Livingston, who runs DJL Research in suburban Milwaukee, predicted that only the top stores will be in play.
“Really, I don’t know if there are more than 10 or 15 that are worth acquiring,” he said. “After that, it’s high risk.”
Retail observers say Marsh’s best stores include those at 2350 Broad Ripple Ave., 5151 E. 82nd St. and 1435 W. 86th St. in Indianapolis and 1960 E. Greyhound Pass in Carmel.