by Tony Chai | Chief Editor | Asia In Dallas
Less than two weeks after Lotte Plaza held its groundbreaking ceremony in Carrollton, a major Korean-owned supermarket chain has announced its plan to expand into the Dallas Fort Worth area.
Zion Market, one of several Korean-owned supermarket chains that have strong presence in California, has announced that it completed the purchase of former Sears building in the Music City Mall in Lewisville.
According to DALLAS4989.COM, a Korean website that specializes in real estate news, Zion Market plans to open its Lewisville branch in late 2019.
The two-story former Sears building is about 160,000 square feet in size. Zion Market will anchor the building on the first floor, with a food court in the lobby area. The second floor will be mostly filled with independent businesses such as retail shops, restaurants, bars, bakeries, etc.
Zion Market plans to transform the building into a ‘Korean mall’, according to DALLAS4989.COM, meaning it plans to make it the ‘new Korean landmark’ and destination for shoppers in North Texas.
There have been rumors about Zion Market’s expansion into DFW area among Korean-Americans for a while. But now it’s official.
According to DALLAS4989.COM, fierce competition between H Mart Carrollton branch and Zion Market Lewisville branch seems inevitable.
Zion Market’s announcement is of particular concern for Lotte Plaza, which plans to open its doors in late 2019 as well.
Lotte Plaza will be located at the southwest corner of Sam Rayburn Tollway(SH121) and Hebron Parkway. The shopping center will be anchored by Lotte Mart, which is NOT affiliated with the famous South Korean brand Lotte Group or any of the Lotte brand businesses operating in other parts of U.S.
Whether or not Lotte Mart can compete with Zion Market in terms of price competition and range of selection remains to be seen.
Lotte Mart and Zion Market will be less than 5 miles apart along Hebron Parkway.
Zion Market currently operates branches in San Diego, Irvine, Los Angeles, Buena Park, and Duluth, GA.