Photograph courtesy of Kennedy Wilson Brokerage
Japanese grocery chain Mitsuwa Marketplace will soon operate 12 stores in the U.S., after it signed a 10-year lease in Northridge, Calif., bringing its market and culinary experience to the North San Fernando Valley for the first time, Kennedy Wilson Brokerage, which completed the lease, said in a statement earlier this month.
Mitsuwa Marketplace will move into a 9,600-square-foot space at 8940 Tampa Ave. in Northridge, Calif., and is expected to open in fall 2022. Currently operating in five states, Mitsuwa Marketplace’s new location, previously occupied by Pier 1 Imports, will promote the neighborhood shopping center location as a grocery-anchored destination. The new store will feature food courts, fast food stalls, bakeries, matcha shops, prepared sushi and sashimi, and an expansive offering of Japanese groceries.
“Mitsuwa will bring a unique market and culinary experience to the North San Fernando Valley that’s been missing,” said Kyle Fishburn, senior associate of Kennedy Wilson Brokerage, who represented the landlord in securing the 10-year lease. “It’s exciting to introduce the brand to Northridge, and I’m excited to see the impact it has on an already busy commercial corridor.”
Based in Torrance, Calif., Mitsuwa Marketplace was founded in 1998. Its current president and CEO is Takeshi Izuma. The company operates stores in California, Illinois, Texas, Hawaii and New Jersey.
Looking to tap into the growing ethnic grocery space Fremont, Calif-based Weee, known for itswide assortment of Asian and Latin American grocery items, is also looking to grow in the ethnic grocery market. In a Feb. 16 statement, Larry Liu, CEO and founder of Weee, said the company is at “a pivotal moment in the transformation of how ethnic consumers purchase food, celebrate traditions, and experience culture.”
Founded in 2015, Weee has received more than $835 million in funding from Arena Holdings, Blackstone, DST Global, Goodwater Capital, Greystone Capital, iFly.vc, Lightspeed Ventures, SoftBank Vision Fund 2, Tiger Global, VMG and XVC.