Shoppers are increasing their holiday budgets across income levels, but for those starting to repay student loans nearly half may cut back on spending. Dive Brief: As holiday retail sales are expected to increase, holiday shopping budgets are expected to grow 14% from last year to $1,652 on average, according to Deloitte’s 2023 Holiday Retail Survey…
UP TO 40 SMOKEY BONES COULD BECOME TWIN PEAKS UNDER FAT BRANDS’ RECENT OWNERSHIP. FAT Brands has hinted at the possibility of acquiring a concept that could be easily converted into Twin Peaks for a while. Smokey Bones, a full-service barbecue chain with a lively sports bar atmosphere, appears to fit the bill. The company acquired…
Pizza Hut extends hours into late-night daypart The restaurant chain is leaning on technology to jump on the latest trend Pizza Hut on Monday announced that it is extending its hours into the late-night daypart at “thousands” of restaurants, with units staying open until midnight or 2 a.m. The restaurant’s full menu will be…
The once bankrupt retailer Toys ’R’ Us is expanding by “land, air, and sea” as it looks to rebound next year with stores in airports, cruise ships, and in department stores. It has increased its global retail footprint by more than 50% with openings in the United States, United Kingdom, India, Dubai, and Mexico, and…
The 10 consecutive quarters of demand growth have pushed the retail market to its tightest position in nearly 20 years, according to CoStar data, and there is less space available for lease now than at any point since national tracking began in 2006. “Retail is suffering from its own success,” CoStar said. Retail tenants leased…
The Casual-dining Chain Will Be The 18th Brand To Join The Portfolio. FAT Brands announced Monday that it purchased Smokey Bones for $30 million, adding to a portfolio that already spans roughly 2,300 restaurants globally. The acquisition is expected to raise annual adjusted EBITDA by roughly $10 million. The barbecue concept, with 61 locations in…
Starbucks, Target Headline High-Profile Closings, as Concerns Rise Over Operational Challenges Starbucks is closing multiple locations across San Francisco in response to lower foot traffic and the company’s pivot to newer store formats. (Starbucks) By Katie Burke Some of the nation’s largest retailers are taking a harder line when it comes to deciding whether to…
Convenience or C-stores offer a good business model: convenient locations, a mix of merchandise, and smart pricing. With their rise in recent years, some are beating out other retailers, according to another GlobeSt.com report. Many aren’t quite as well known as the big examples such as 7-Eleven and Circle K yet have clout in their…
Taco Bell recently unveiled a 2.0 version of its digital-forward Go Mobile restaurant, about three years after the initial concept was introduced in the throes of the pandemic. The updated asset will play a big role as the chain targets 10,000 units “in the coming years,” and will also support parent company Yum Brands’ goal…
More quick-service restaurant visits are happening at night. McDonald’s and Wendy’s reported a surge in late-night sales from the first quarter to the second. At Jack in The Box, 19.2% of second-quarter sales happened between 10 p.m. and 4 a.m., compared with 16.1% in the fourth quarter, according to Placer.ai. At Taco Bell, 15.2% of second-quarter…
Sun Belt Markets With Stronger Population Growth Post Larger Retail Rent GainsSun Belt Markets With Stronger Population Growth Post Larger Retail Rent Gains CoStar Analytics The strength of the U.S. retail real estate recovery has surprised some market watchers over the past three years, as growing demand from a wide range of tenants has pushed…
Commercial real estate has long been a favored investment option, offering the potential for stable income streams and capital appreciation. Among the various commercial property types available, gas stations and convenience stores (c-stores) have gained prominence in recent years. One key reason for this is the significant tax advantages associated with owning such properties, particularly…
Macy’s announced the locations of four new small-format stores scheduled to open in fall 2023. These openings mark the first expansion of its small-format locations into the Northeast and Western regions of the United States, with openings in Boston, Las Vegas and San Diego. With small store opening momentum growing in the Midwest, the expansion…
There are signs of distress in CRE markets — jumps in distressed loan statuses and banks increasing CRE charge-offs — and yet the big wave of distress that everyone has been expecting doesn’t seem to have come. Marcus & Millichap CEO Hessam Nadji has said that all asset classes other than office have healthy fundamentals…
QDOBA, America’s #2 fast-casual Mexican restaurant brand, is planning for rapid expansion. With 750 restaurants in 45 states, the privately held company expects to double in size over the next decade, with plans to open 40 new restaurants this year, followed by 60 in 2024, and 80+ annually beginning in 2025. “QDOBA is an exceptionally…
During a conversation with Smalls Sliders CEO Maria Rivera earlier this year, she said she believes that “modular is the future.” Indeed, the reason her company is targeting ambitious growth is because it’s leveraging 800-square-foot modular shipping container units manufactured elsewhere and then shipped to their location. Once a plot is prepared, Smalls can open…
As the U.S. grocery sector consolidates, store foot-traffic data shows the different trajectories of German discounter Aldi’s and the two grocers — Winn-Dixie and Harveys — it plans to acquire. The analytics firm Placer.ai reported Aldi has benefited from strong foot-traffic growth this year. In July, visits were up 3% over July of last year…
Do you have a loan maturing with a balloon that is coming due in the next 24 months? Was your current loan generated in the past two to five years? Are you willing to invest liquid capital into your property for a refinance to meet its new loan to value ratio with an interest rate…
Dick’s Sporting Goods is starting to build out its roster of House of Sport locations, opening nine of its new hands-on stores that permit customers to try out gear on real fields and to do some rock climbing in between shopping. The Coraopolis, Pennsylvania-based retailer is in a major expansion mode with House of Sport,…
Wendy’s franchisees have opened the first of the chain’s “Global Next Gen” restaurants, in Oklahoma and Kansas, The Wendy’s Co. announced on Tuesday. Meritage Hospitality Group opened a unit in Edmond, Okla., and Wenspok Companies opened one in Great Bend, Kan. The first company-owned location using the new prototype that was slated to open in…
TGI Fridays has 58 years’ worth of history, and that’s a blessing and a curse, says newly named CEO Brandon Coleman. “Depending on which point in time you last visited a Fridays, you may have a different expectation,” Coleman says. “And I think setting that expectation for the guests and making sure that we create…
There are signs of distress in CRE markets — jumps in distressed loan statuses and banks increasing CRE charge-offs — and yet the big wave of distress that everyone has been expecting doesn’t seem to have come. Marcus & Millichap CEO Hessam Nadji has said that all asset classes other than office have healthy fundamentals…
Bed Bath & Beyond has selected the successful bidders for 109 of its store leases, and Burlington Stores will win the lion’s share. The off-price giant is slated to take over 50 former Bed Bath & Beyond locations for $13.53 million. Michael’s, Haverty, Macy’s and Barnes & Noble were among the other winners. Bed Bath…
How long have we been talking about a looming recession at this point? Eight months? A year? I certainly started bracing for one when banks started failing in March, but the economy actually seems to be chugging along pretty well. It’s not doing awesomely, mind you. With Q2 earnings season well underway it’s clear that…
Online sales rose nearly 2% in July. After slowing retail growth, sales got a midsummer boost amid multiple promotions by retailers, including Amazon’s Prime Day mega-event. Retail sales in July rose 1% from June, and were up 3.2% year-over-year, according to the National Retail Federation, whose calculation excludes automobile dealers, gasoline stations and restaurants to…
Dear Valued Investors, After being completely immersed in this business for numerous years, we made it a priority from the beginning when conceptualizing our business model, platform and process to make sure we listened intently to our most successful clients. While maintaining this strategy over the years, we have been able to glean complete…
Coffee chains like Starbucks and Tim Hortons are witnessing a growing trend among customers, particularly from the younger generation, who are favoring cold drinks and iced coffees over traditional hot options. Cold beverages account for a significant portion of sales for these chains, with Starbucks reporting that cold drinks make up 75% of its beverage…
Planet Fitness, a major gym franchise, is facing challenges in its expansion efforts due to various factors impacting the commercial real estate landscape. While there is a growing demand for convenient and affordable gyms like Planet Fitness, the company is struggling to open new locations due to persistent inflation, limited suitable space, and high construction…
The recent decline of Boston Market, an American rotisserie chicken chain, has been attributed to a series of missteps and challenges faced by the company. After undergoing brand transformation efforts, the chain was acquired by Engage Brands in 2020, which led to a downward trajectory in its performance. The current state of Boston Market involves…
After being completely immersed in this business for numerous years, we made it a priority from the beginning when conceptualizing our business model, platform and process to make sure we listened intently to our most successful clients. Maintaining this strategy over the years, we have been able to glean complete clarity in what most of…
A rent to sales ratio is a financial metric used in commercial real estate to evaluate the relationship between a tenant’s sales revenue and the amount of rent they pay. It is calculated by dividing the annual rent by the annual sales revenue of a tenant. The occupancy costs, which include the base rent and…
Executives of major restaurant chains are hungry for location expansion as some get enough long-awaited relief from soaring food and supply costs to make up for still-elevated construction expenses. Sales for many chains rose amid resilient consumer spending in recent months, with the escalating prominence of digital sales boosting restaurant development and design plans. Those…
Tim McLaughlin wanted to streamline the customer experience at his Caboose Brewing Co. in Vienna, Virginia, and the POS system he developed also has made accounting and percentage rent a snap for tenants at food halls. The multiple-points-of-sale model has grown cumbersome for vendors and landlords, said McLaughlin. His GoTab, he said, attracts bookkeeping-averse vendors…
July was the second lowest month for rent delinquencies this year for independent restaurant operators. New data from Alignable shows that 36% of independent restaurant operators couldn’t pay their rent in July, a material improvement from 45% who reported delinquencies in June. Julye was the second lowest month for rent delinquencies in the…
From taking global culinary tours to watching TikToks about the latest foodie trends, First Watch doesn’t draw any boundaries to where it can source its inspiration from to create new dishes and stay relevant. First Watch recently introduced a new line-up of permanent specialty iced coffees—like Honey Caramel Crunch and Mint Mocha—plus a seasonal summer…
Futuro Academy is a lot like many schools. Its mission is to provide a high level of education that helps develop the leaders of tomorrow. But unlike other public schools, Futuro Academy got its start in an empty grocery store. It’s one of the U.S.’s about 8,000 public charter schools. As public schools, they’re free…
CEO Maria Rivera weighs in on how this upstart brand is leaning into efficiencies and discipline ahead of exponential growth. Smalls Sliders is only about 4 years old. The brainchild of Brandon Landry, founder of Walk-On’s Sports Bistreaux, Smalls was spun off that Baton Rouge, La.-based sports-bar concept and is laser-focused on high-quality sliders served…
Since expanding to the U.S. in 1997, Fogo de Chão (pronounced fogo-dee-shown) has grown around the world with locations in North America, South America, the Middle East, and soon Asia. Why Fogo de Chão’s Sizzling Model is Sparking Rapid Expansion The most anticipated moment in dining—and the most fleeting—is the first bite, and one emerging…
WHILE CONSTRUCTION BIDS ARE STABILIZING, PERMITTING AND EQUIPMENT TIMELINES ARE STILL NOT WHERE THE COMPANY WANT THEM TO BE. Two years ago during a call with investors, former Darden CEO Gene Lee lamented how COVID delays were harming unit growth. He hoped the company would soon reach the higher end of its 2-3 percent expansion target.…
Fitness tenants are flexing their muscles by bringing in new, frequent visitors, according to new data. In May 2023, year-on-year visits to fitness tenants were up by 7.8% compared to 2022, according to placer.ai. That’s on top of a 30.3% increase in January, a 17.2% surge in February, an 11.4% climb in March and an…
Introduction: The Experience Factor Members of Gen Z are graduating into adulthood and many are finding their independence, as the oldest members of this generation get their first taste of the workforce. This cohort of 16- to 26-year-olds is also exhibiting an array of distinctive, and perhaps surprising, consumer habits. They have clear ideas about…
The DLC has never been more bullish on the fundamentals we see at the property level. Retailers are waiting in line for any vacant space. They see a clear migration of consumers and establishments toward the suburbs, and open-air retail is perfectly positioned to flourish in this environment. The numbers do not lie. Open-air retail…
Orlando, Fla. — Darden Restaurants, Inc. has completed its acquisition of Ruth’s Hospitality Group, Inc. The Ruth’s Chris Steak House brand now joins and complements Darden’s portfolio of differentiated brands that include Olive Garden, LongHorn Steakhouse, Yard House, Cheddar’s Scratch Kitchen, The Capital Grille, Seasons 52, Eddie V’s and Bahama Breeze. Ruth’s Chris has 155…
Widespread Spending Gains, While Moderate, Highlight Shoppers’ Resilience Consecutive months of broad growth encouraging. Households increased their spending across a broad spectrum of stores in May, supporting a 0.4 percent rise in core retail sales. For the second straight month, eight categories registered sales growth, a testament to consumers’ spending power. The addition of 339,000…
Traffic at retail clinics within stores has more than doubled over the past five years, growing faster than traffic at urgent care centers, at primary care practices and at hospital emergency rooms, according to a report from health care data firm Definitive Healthcare. About 1,800 such retail clinics are in operation. Only 2% are in…
Earlier this week, local media outlets reported that the location in Silver Spring, Maryland—which opened in September 2022—would close on Thursday. In response, an IHOP representative said “After evaluating the results of our flip’d by IHOP pilot program, IHOP has decided not to continue the concept.” This is the third Flip’d location, following Lawrence, Kansas,…
U.S. shoppers are visiting malls more during the weekdays than they do on weekends, according to a study of traffic patterns. To measure how the pandemic impacted mall-going behaviors, StreetLight Data looked at the distribution of vehicle trips that ended at 13 of the top U.S. malls between 2019 and 2022. It found notable changes…
Golden Corral Corp. plans to open Homeward Kitchen, the first fast-casual version of its buffet concept, in a former Chick-fil-A location in Southern Pines, N.C., a community northwest of Fayetteville, N.C. The Raleigh, N.C.-based Golden Corral said the 4,200-square-foot conversion to Homeward Kitchen will open in the fall, aimed toward counter service and a younger…
Tenants’ Renewed Focus on Profitable Locations Fuels Exodus From Aging, Indoor Properties The American mall is undergoing a transformation, but retail property professionals are still assessing what exactly it’s turning into. Industry analysts agree, after thousands of stores have closed, that the “if you build it, they will come” strategy woven throughout the retail industry’s…
THE CASUAL-DINING BRAND SEEKS 200 STORES BY 2027 AND EXPECTS TO SURPASS $1 BILLION IN SALES IN THE COMING YEARS. Twin Peaks is approaching store No. 100, a milestone resulting from momentum and perseverance. As a casual-dining brand relying heavily on the in-restaurant experience, COVID couldn’t have been more of a nightmare. But Twin Peaks…
First Watch CEO Chris Tomasso described Q1 as one of the best quarters he can remember in his 17 years at the company. Same-store sales increased 12.9 percent year-over-year, lapping 21.9 percent growth in 2022. Traffic increased 5.1 percent, outpacing the brand’s competition. Adjusted EBITDA was $27.4 million, up 42 percent from last year. First…
James and Jim have teamed up and formed their own individual partnership to provide the highest level of specialized commercial retail real estate brokerage services for their clients. The Garner Shiebler Group will continue their specialized brokerage services with the inclusion and enhancement of the below exemplary agents. They are joined by the most incredible…
Jim Shiebler teamed up with David Dorsey from Gulfshore Business once again to share his insights on the latest news regarding Bed Bath & Beyond’s financial troubles and what’s in store for the Bell Tower Shops once they vacate. See Jim’s Points Below: Bed, Bath & Beyond Positives BB&B has very attractive store…
FED JUST ANNOUNCED ANOTHER .75% INTEREST RATE INCREASE Fed officials pushed up their short-term rate by a fourth consecutive hefty three-quarters of a percentage point four times in a row, bringing it to a range of 3.75% to 4.00%. More information, reports, forecasts, perspectives, and strategies to come as they are announced from…
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. “We generated a total of 11 offers for the asset and ultimately…
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. Robert Freeman, James Medefind, James Garner, and Jim Shiebler, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to…
FED JUST ANNOUNCED ANOTHER .50% INTEREST RATE INCREASE 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%. More information, reports, forecasts, perspectives, and strategies to come as they are announced from your trusted advisors at Medefind Garner Shiebler Group.…
FED JUST ANNOUNCED ANOTHER .25% INTEREST RATE INCREASE Fed officials pushed up their short-term rate by a slightly reduced quarter of a percentage point, bringing it to a range of 4.50% to 4.75%. More information, reports, forecasts, perspectives, and strategies to come as they are announced from your trusted advisors at Medefind Garner…
FED JUST ANNOUNCED ANOTHER .25% INTEREST RATE INCREASE Fed officials pushed up their short-term rate by a quarter of a percentage point, bringing it to a range of 4.75%-5.00%. More information, reports, forecasts, perspectives, and strategies to come as they are announced from your trusted advisors at Medefind Garner Shiebler Group. Don’t…
he Brand’s New Off-Premises Concept Is Thriving, but that Doesn’t Mean it’s Veering Away from the Dining Room Experience. Photo Courtesy of ColleenMichaels. P.F. Chang’s didn’t need an unprecedented global pandemic to know that off-premises is the future. The chain’s To Go concept debuted on February 2, 2020, when there were fewer than 20…
Photo Courtesy of Brett. Petco is extending its move beyond food and supply sales by looking to add 50 to 55 locations of its growing slate of veterinary offices in the coming year. The retailer aims to capitalize on the rise of pet adoptions since the start of the pandemic, especially among Gen Z…
CEO Wants to Take Combined Company to ‘New Heights Domestically and Globally’ Photo Courtesy of JHVEPhoto. Dave & Buster’s Entertainment, an experience-based restaurant chain with games and arcades created in the early 1980s, is readying itself for “a fresh new look” in the coming years after completing a nearly billion-dollar acquisition that brought a…
Olive Garden and Longhorn Set Total Sales and Weekly Sales Records in the Third Quarter, Further Widening Their Gap With the Industry. Photo Courtesy of Brett. Throughout the pandemic, Darden has championed pricing below inflation. Consumers are responding by staying put, CEO Rick Cardenas said. In the past three years, the company has underpriced…
One of the Brand’s Latest Prototypes Set Records When It Opened in January, Creating Momentum for the Decades-Old Breakfast Chain. Photo Courtesy of wolterke. Sixty-year-old Huddle House is boasting unprecedented financial figures coming out of COVID, and it’s doing so with new prototypes and nontraditional franchisee experience. A restaurant in Decatur, Illinois, opened…
Swedish Furniture Retailer To Roll Out Eight Stores, Nine Smaller Studios, 900 Pickup Locations Photo Courtesy of Pixarno. Ikea, the global retailer of furniture and household goods based in Sweden, is dramatically beefing up its brick-and-mortar presence in the United States, investing about $2.2 billion over the next three years to open eight big-box stores,…
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…
