Hispanic Retailer Forms Real Estate Company

ELLIOT ZWIEBACH

ANAHEIM, Calif. — The Gonzalez Reynoso family, which owns and operates Northgate Gonzalez Markets, a 29-store chain based here, has formed a real estate development company to acquire and develop retail centers in Hispanic communities in Southern California.

The family said it plans to purchase and develop retail centers with one of its own stores as an anchor tenant — beginning with a store in a 57,000-square-foot center in Wilmington, Calif. The store will be 20,000 square feet, though a spokeswoman told SN the company hopes to eventually increase the size to near the 45,000- to 50,000-square-foot range Northgate prefers. The company currently owns some of the properties on which its stores sit, she added.

According to Miguel Gonzalez Reynoso, chairman of Northgate Gonzalez Real Estate, “The Latino market is vibrant and growing, and we believe this venture is a natural extension of our existing business and will allow us to better serve our customers.”

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