But in Positive Sign for Retailers and Their Landlords, Two of Nine Store Categories Saw Gains Photo Courtesy of Jelena. The holiday shopping season didn’t turn out to be quite as jolly and robust as some forecasters predicted. But in a positive sign for retailers and their landlords, two of nine store categories still...
The Company Believes There’s a Strong Leadership Pipeline in Place to Grow the Brand in the Coming Years, but at a Measured Pace. Photo Courtesy of Restaurant Business Magazine. While meeting and greeting at the ICR Conference in Orlando, Darden CEO Rick Cardenas noted he ran into Ian Baines, who served as CEO of Cheddar’s...
The restaurant chain was a compelling target for casual-dining company Dine Brands because it is a heavily franchised, high-growth concept that can add long-term value. In the casual dining segment, it doesn’t get more legacy than Dine Brands Global. The company owns both IHOP, established in 1958, and Applebee’s, founded in 1980. So,...
Traditional ‘Anchors Away’ n The demise of department store chains such as Sears and Lord & Taylor has prompted mall owners to take another look at what retailers they want as anchors. In some cases, former anchor space isn’t be filled by retailers at all but is being transformed for new uses. Apartments are being...
As early as 2019, the Mexican chain saw promise in its digital pickup lanes, and now plans to include them in the bulk of its restaurant pipeline. In 2018, Chipotle was facing a problem. While same-store sales and transactions were up, customers felt the chain had too few restaurants. Diners were frustrated that the only...
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By the End of Next Year, the Nextgen Casual Will Have Opened Its Smallest Ground-Up Design Ever in Central, Louisiana. Photo Courtesy of RestaurantNews.com. One of the few benefits Walk-On’s gathered from COVID is understanding its business model from a different perspective, says president and CEO Scott Taylor. When restaurants shut down, sales immediately dropped...
The local mall is changing fast, along with consumer habits that were jolted in the pandemic, as traditional stores make room for nontraditional uses including apartments, warehouse clubs and self-storage spaces. nn Adding different types of retail tenants to shopping venues is one way mall owners are trying to drive foot traffic as e-commerce grabs...
Development Agreements in Place for More Than 300 New Locations Jack in the Box is looking to ride rising sales and extended operating hours into added locations, with development agreements in place to add more than 300 restaurants and enter new markets in the coming years. nn The operator of more than 2,700 restaurants is...
Grocery Giant Says It’s Making Headway on the Pending Tie-Up Amid Questions From US Senators Kroger, the nation’s largest grocery chain, said it’s forging ahead with “integration planning” and working with regulators on its proposed $24.6 billion acquisition of rival Albertsons Cos. nn Rodney McMullen, chairman and CEO of Cincinnati-based Kroger, offered a brief update...
AUV Has Grown by More Than $500,000 in the Past Five Years, and the Chain Is Closing Fewer Units Than It Has in a Decade. Applebee’s is in its “glory years,” says brand president John Cywinski. He argues the chain is in a better position now than it’s ever been across 42 years of history....
Retailer Says It Won’t Pursue Sale-Leaseback Deals Right Now Photo Courtesy of Wolterke. Beleaguered Kohl’s, after conducting a “robust” analysis, has decided against putting its real estate up for sale, according to one of the retailer’s C-suite executives. The Menomonee Falls, Wisconsin-based chain, which has over 1,100 stores, has been under pressure from activist...
Photo Courtesy of Forbes. Sometimes Smaller Is Better A wide variety of retailers are opening up smaller-format stores, and each day a new company seems to be added to that list. For some of them, the forays are an attempt to have a brick-and-mortar presence outside of large malls and get closer to customers efficiently...
Sometimes Smaller Is Better A wide variety of retailers are opening up smaller-format stores, and each day a new company seems to be added to that list. For some of them, the forays are an attempt to have a brick-and-mortar presence outside of large malls and get closer to customers efficiently and economically. The...
Over the course of the pandemic, Chili’s off-premises segment ballooned to $1 billion—enough success for the casual-dining to build a store around the business. In November, the brand opened its first to-go-only location, following several other full-service concepts that’ve dived into the quick-service world, like Hooters, Buffalo Wild Wings, IHOP, TGI Fridays, Hooters, P.F. Chang’s....
FED JUST ANNOUNCED ANOTHER .50% INTEREST RATE INCREASE nn Fed officials pushed up their short-term rate by a slightly reduced half a percentage point, bringing it to a range of 4.25% to 4.50%. n More information, reports, forecasts, perspectives, and strategies to come as they are announced from your trusted advisors at Medefind Garner Shiebler...
Simon & Retail Startup, Leap, Plan Debut of Four Stores in California & Florida Simon Property Group, the nation’s largest mall owner, drew attention earlier in the pandemic by financially aiding some struggling retailers that rent space in its properties. Now the landlord is helping small online sellers enter the world of brick-and-mortar retailing —...
The sale of the 8,705-square-foot net-leased property located at 5743 Williamsburg Lane at State Road 44 at the main south entrance of The Villages was announced Monday by Marcus & Millichap Inc. nn Robert Freeman, James Medefind, James Garner, and Jim Shiebler, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to...
Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Market Square, a 65,688-square-foot shopping center in Fort Myers, Florida. The property sold for $13.2 million. nn “We generated a total of 11 offers for the asset and ultimately...
Data shows malls and shopping centers see increased cross-shopping, more visits during nontraditional hours and greater spend per visit at locations where consumers routinely come to stay in shape. A retailer located in a shopping center that also has a gym receives, on average, 2.5% more visits per month compared with the same retailer’s other...
Company Looking to Grow Locations 7% Annually, Focused on Sun Belt Cheesecake Factory is looking to turn rising foot traffic into 7% annual location growth, with up to 24 restaurant openings planned for 2023 following at least 13 expected to debut by the end of this year. nn The Calabasas, California-based operator of more than...
BY DAVID DORSEY DECEMBER 6, 2022 PHOTO CREDIT:MARCUS & MILLICHAP The southeast chunk of the Market Square shopping center in south Fort Myers sold for $13.2 million. The stretch of four mid-sized retail stores combines 65,688 square feet of space, costing about $201 per square foot. Jim Shiebler, a commercial real estate broker with Marcus &...
The restaurant chain was a compelling target for casual-dining company Dine Brands because it is a heavily franchised, high-growth concept that can add long-term value. In the casual dining segment, it doesn’t get more legacy than Dine Brands Global. The company owns both IHOP, established in 1958, and Applebee’s, founded in 1980. So,...
Any retrospective about how Southwest Florida fared in 2022 must be cut into two parts—before and after Hurricane Ian. On the 271st day of the year, Sept. 28, Hurricane Ian’s destructive force of 155 mph winds and 6 to 15 feet of storm surge devastated the coastal region. As of this writing, there have...
A record 196.7 million Americans shopped over the Thanksgiving holiday weekend, with a resurgence of consumers returning to stores during that period despite inflationary headwinds. The total number of shoppers from Thanksgiving Day through Cyber Monday increased by nearly 17 million from 2021 — up about 9% from 179.8 million — and marked the highest...
BY DAVID DORSEY DECEMBER 1, 2022 PHOTO CREDIT:DENNIS WRIGHT PLAY ARTICLE 0:00 / 20:41 1X BeyondWords Any retrospective about how Southwest Florida fared in 2022 must be cut into two parts—before and after Hurricane Ian. On the 271st day of the year, Sept. 28, Hurricane Ian’s destructive force of 155 mph winds and 6 to 15...
Retail and food service sales* ballooned to $1.47 trillion in Q3 2022, with non‑storen retailers experiencing the highest growth of any sector at 13.8% year‑over‑year. September started off fall with a bang as most categories showed year‑over‑year sales per square foot (psf) growth. n Beauty supplies led the way at $766, followed closely by fast...
The Italian Chain Opened a Restaurant for the First Time in Seven Years, and More Is To Come in Markets Like Florida, Texas, Tennessee, and Georgia. In the third quarter, Carrabba’s opened a restaurant in Tampa—the chain’s first new unit since 2015. nn Bloomin’ CEO David Deno said the Italian brand earned the right to...
A two-tenant building that’s just under 7,000 square feet just sold for $5.1 million in the heart of Cape Coral – at $734 per square foot. And a three-tenant building, about 7,100 square feet, at the epicenter of Southwest Florida’s largest growth corridor off Alico Road in south Fort Myers, also just sold for $3.8...
In the Know: ‘Man behind the curtain’ sells chain restaurants for millions David Dorsey Fort Myers News-Press I’m aware of the hysteria surrounding the rapid and worldwide spread of the coronavirus. That’s just a disclaimer. With that out of the way, onward to the rest of this week’s column, which will be coronavirus-free. I’ve been...