Industry News: Commercial Real Estate
Heinen’s Fine Foods will open its 18th store in a Chicago suburb where the company has spent $10 million building its first location outside Ohio. The 38,000-sq. ft. store will feature nearly everything the company’s Ohio stores do, but it will not offer parcel pick-up service.
Thorntons Inc., an independent gasoline/convenience-store retailer, will open its first Florida location in Clearwater on the site of the former Krispy Kreme doughnut shop in late November 2012.
Whole Foods Market said it will triple its store count to 1,000, adding locations in smaller markets and underserved communities. The chain, which will open its first Detroit store in 2013, is in talks to bring stores to parts of Chicago and Newark, N.J., which have little access to fresh food.
16 Handles is opened four new locations in the New York metro area.
Bennigan’s Franchising Company and shopping center owner Brixmor Property Group formed a strategic partnership to market Bennigan’s franchising opportunities at select Brixmor centers; the two companies are now evaluating up to 30 potential locations for Bennigan’s restaurants for the initial phase of the partnership.
Buffalo Wild Wings announced an agreement for four locations in Puerto Rico by the end of 2016.
Del Taco announced a development agreement for 20 locations in new markets in AL and north FL; the first store is planned for early 2013.
Dunkin’ Donuts announced that the company is recruiting franchisees for the markets of Reno, NV; Wichita and Topeka, KS; as well as portions of TX, including territories in the western, southern and eastern portions of the state that include cities such as Amarillo and Corpus Christi. The company expects that restaurants in these markets will begin to open in 2014. Dunkin’ Donuts also signed a multi-unit store development agreement for 24 new restaurants in AL over the next several years and four more agreements for 29 restaurants in Houston and Waco between 2013 and 2019.
F2o Holding (dba Fresh To Order) plans to open at least 25 new restaurants in the Carolinas over the next four years and is actively seeking franchisees statewide.
Front Burner Brands (dba Burger21) is targeting the Atlanta area for expansion.
Garbanzo Mediterranean Grill awarded franchise development rights for 10 locations in OK.
Habit Restaurants LLC announced plans to open four additional restaurants in Orange County CA by the end of the year.
Jamba Juice Inc. signed a five-store development agreement for CT.
Mama Fu’s Asian House plans to open 20 locations across AL in the next few years, including six in Birmingham.
Moe’s Southwest Grill will open 25 new locations throughout the Midwest.
On The Border Mexican Grill & Cantina is remodeling its locations, using a quieter color palate, a large screened-in patio, and a more open kitchen.
Pancheros Mexican Grill announced five development agreements, adding 39 locations, which include its first commitments on the West Coast. The new commitments will open restaurants in three new states including CA, NV, OR, and additional units in MN.
Papa John’s is hoping to entice new franchisees by offering an incentive package that includes no franchise fee, $50K in equipment, royalty waiver for up to 18 months, and $3K food credit with PJ Food Service.
Pizza Patrón has executed a development agreement with SA Pizza, Inc. to bring eight more stores to the San Antonio area within the next 31 months. Pizza Patron also opened up the San Diego DMA for development and plans to add 15 more locations in the market. Pizza Patron is also expanding in the Chicago metro area, with 30+ locations being projected for the DMA.
Pizza Ranch has opened its first restaurant in Billings MT that also marks the first location in the state.
Quaker Steak & Lube signed a three-unit development agreement for cities in ND and SD.
TCBY is looking to add 20 stores in the Dallas/Ft. Worth TX market and 25 stores in Chicago in the next three to five years.
American Eagle Outfitters, Inc. announced it plans to expand in the Philippines.
American Rag is looking to open a New York flagship. Aiming to open the store by spring 2013, the retailer is considering spaces ranging from 3,000 sq. ft. to 17,000 sq. ft.
The Bon-Ton Stores Inc. said that it plans to close its Carson’s store in the River Oaks Mall in Calumet City, Ill., when the lease expires in January.
Cabela’s Inc. announced plans for new stores, including its first-ever locations in Virginia and Delaware. Construction is expected to begin on the new locations in 2013, with the stores expected to open in 2014. Cabela’s said it will build an 85,000 sq. ft. store in The Falls, in Bristol, VA and a 100,000 sq. ft. store adjacent to Christiana Mall in Christiana, DE. Cabela’s Inc. plans to build a 50,000 sq. ft. store in Regina, Saskatchewan, Canada in the new Grasslands Shopping Centre. The new store is expected to in fall 2013 or spring 2014.
Chico’s will open a 2,369 sq. ft. Soma Intimates store this fall at Will Grove Park, located in Willow Grove, PA.
Dick’s Sporting Goods opened stores in Bluffton, SC, Clovis, CA, and Oxnard, CA.
Dots LLC announced that it plans to grow into a 1,000-store national fashion retailer.
DSW Inc. has opened stores in Mesquite, TX, and West Covina, CA. DSW Inc. announced the opening of a new store at Coldwater and Coliseum in Fort Wayne, IN. The company plans to open 27 new stores in the second half of the year.
The Gymboree Corp. will open a 2,505 sq. ft. Crazy 8 store this fall at Moorestown Mall in Moorestown, NJ.
Hibbett Sports is on track to open 55 to 60 new stores by the end of fiscal 2013. The company also plans to expand approximately 15 high-performing stores and close up to 18 underperforming stores by the end of the fiscal year.
Joe’s Jeans Inc. has opened a 2,700 sq. ft. West Coast flagship store on Melrose Place in Los Angeles.
Nordstrom Inc. will open its outlet format Nordstrom Rack at The Newbury in Boston’s Back Bay area. The bi-level, 38,000 sq. ft. store is scheduled to open in spring 2013. It will replace the former Filene’s Basement space.
Nordstrom Inc. plans to open full-line stores in The Woodlands, TX, and Jacksonville, FL in fall 2014.
PVH Corp. will open its first freestanding Calvin Klein location in Alberta, Canada. The 10,000 sq. ft. store will be located at the Cross Iron Mills Shopping Centre. It will be the fifth Calvin Klein lifestyle location to open in Canada, with a total of approximately 40 stores planned for the next five years.
Saks Inc. will open its ninth Texas location of Saks Fifth Avenue OFF 5TH. The new 27,548 sq. ft. store will be located in Grand Prairie at the new Paragon Outlets. The company also announced it will close its Highland Park, IL store located in Renaissance Place, and its Austin, TX store located in the Arboretum Market. Both stores are slated to close on Dec. 31.
Spanx is gearing up to expand into standalone branded stores, starting with the U.S., in the fourth quarter. Three stores are scheduled to open in October located in Virginia, New Jersey, and Pennsylvania. There is also a Spanx store slated for the international terminal at Atlanta’s Hartsfield-Jackson airport.