In addition to triple ginger snaps, orange chicken and wild mushroom & black truffle flatbread, here’s another reason to like Trader Joe’s: It might drive up property values.
Both nationally and in the Tampa Bay area, homes near Trader Joe’s markets have shown a greater increase in value from time of purchase than homes near the stores of rival chain Whole Foods, a new RealtyTrac study says.
Why in the world did RealtyTrac look into this?
Given that two of the most basic human needs are food and shelter, the online real estate data company thought it might be “enlightening” to run an analysis combining those elements as related to “two iconic grocery store chains with cult followings.”
Realtor Julia Brazier knows the cultlike appeal of Trader Joe’s, a California-based chain that in February opened a store near her home in St. Petersburg’s Old Northeast.
“My niece visited for three months from L.A., and she practically lived at Trader Joe’s,” Brazier says.
Brazier recently sold a house to a couple who were happy to be within walking distance of Trader Joe’s at 2742 Fourth St. N. But another couple, from Texas, had their doubts while looking for a home.
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