|Whole Foods makes any condo nicer...|
|Subject||Whole Foods has found an answer to the scarcity of urban groceries.|
|Topic||Monopolistic Competition; Product Markets|
Whole Foods, Safeway, grocery stores, condominiums, demand, supply
Texas-based grocery chain Whole Foods believes it has the answer to the scarcity of urban grocery stores: locate stores in new skyscraper condo complexes. Miami's new 74-story Met 3 Tower features a Whole Foods store on the ground floor. Even though the building is 3 years away from completion, a third of its condo units are already sold--and in a city with 50,000 condo units under construction, that says a lot about the appeal of a condo complex with its own on-site grocery store.
|Source||Ryan Chittum. "Metropolitan Magnet." The Wall Street Journal, 11 May 2005. B1+.|
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