It’s time to go beyond the international aisle at your usual grocery store. The number of Asian grocery stores is growing across the region. And now you can find more variety and inspiration at Hung Vuong Food Market’s new location in Newark, New Castle County, Delaware thanks to an SBA 504 loan with Seedcopa and bank partner Meridian Bank.
The almost $11 million project included not only the purchase and renovation of the commercial property on Geoffrey Drive but also FF&E funding to purchase furniture, fixtures and equipment to expand to the 46,788-square-foot building on three acres.
“This is the fourth facility for this successful company, and one of Seedcopa + SeedcoDE’S first SBA 504 loan projects as we expanded into Delaware,” said Sherwood Robbins, managing director of Seedcopa + SeedcoDE. “It is extremely rewarding to assist a business that is not only providing numerous jobs, but also having a profound impact on quality of life by offering convenient access to affordable and nutritious food options.”
Specializing in Korean, Chinese, Japanese and Southeast Asian cuisine, Hung Vuong Food Market began in 2016 at its 38,000-square-foot facility in South Philadelphia. A few years later, it expanded to Northeast Philadelphia, Cherry Hill and recently Berwyn. The company also partners with local restaurants to provide ready-made meals for purchase at Cub and Bunny Korea Food Factory, Chu Shang Spicy and Kokoro Ramen.
Eater Philadelphia calls Hung Vuong Food Market “part of a growing regional empire and a welcome addition for [its] community… as well as its non-Asian residents.” We couldn’t agree more!
Photo courtesy Hung Vuong Food Market
