By now you know that Whole Foods is a-coming to town – which for some is even more exciting than anticipating Santa (of course then we can leave him organic gluten free cookies with milk from cows raised without hormones).
We are going to bypass the debate about whether people are happy or sad to see Johnnie’s Foodmaster on its way out, or whether Whole Foods is a blessing or a curse to town, and focus on what it means in terms of real estate.
Coincidentally, Business Insider just covered this topic: If A Starbucks Opens In A New Neighborhood, It's Time To Buy A Home There.
It states that towns – particularly those in metro areas – where Starbucks or Wholefoods come in and replace a lesser known or struggling entity are going to see an increase in home values.
Arlington is hardly "in transition, struggling, or neglected," however, getting the nod from Whole Foods is certainly an economic indicator of sorts that the town is movin’ on up.
Here is another article, Whole Foods is Coming? Time to Buy, which says that:
“…the Austin, Texas-based retailer has made a science of putting down roots in urban locations at what often seems to be just the right moment….— areas that other specialty grocers might have considered unworthy of goat cheese and ostrich eggs… were actually on the verge of a boom that, lo and behold, kicked into high gear as soon as Whole Foods moved in.”
You can bet your aesthetically pleasing produce aisle that Whole Foods doesn’t just throw darts at a map when selecting a location for a store. Teams of marketing experts analyze scores of data, comparing purchasing habits, population growth, and demographic make-up before making a decision.
And they are betting that Arlington is a town that will continue to grow and prosper.
The fact that Whole Foods selected an Arlington neighborhood is something of a celebrity endorsement – remember the Oprah-bump, where Oprah’s stamp of approval could turn a little-known product into an instant craze?
Likewise, Whole Foods setting up shop here makes Arlington even more of a draw for potential home buyers, and will in turn increase home values.
So whether you opt to shop there or not is a personal choice. But your home value will likely benefit from the Whole-Foods-Effect in the long-run.