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Weekly Perl: A Commercial Real Estate News Recap 6/7/2024

Mini Golf is Coming to Third Street Promenade


A mini golf chain, with fun and unique creative concepts, is set to open a new outpost on Third Street Promenade, according to a report by What Now Los Angeles. Holey Moley, which is owned by Australian entertainment company Funlab, will establish the location within The Gallery Food Hall’s former space at 1315 3rd St. An opening date has not been disclosed at the time of this writing. 



Carvel Builds Upon 90-Year Legacy with New Prototype


Carvel has been around for nine decades, but the past couple of years have been some of the most important in brand history. It was during this recent period the classic ice cream concept began developing a design refresh to breathe new life into its business.

 


Retailers with the best reputations are...

 

Amid price increases, the reputation of retailers took a dip in an annual ranking of the reputations of the “most visible” brands in the United States. Tech giant Nvidia, which didn’t even make last year’s list, took the No. 1 spot with an RQ score of 81.2, followed by 3M and Fidelity Investments. 



How grocers are getting creative in their battle against theft

 

Grocers’ war against shrink wages on with new moves by Kroger, Giant Food and Safeway. Kroger confirmed in an email Tuesday that six of its Columbus, Ohio-area stores recently added safety measures, including receipt checks, in response to increased incidents of theft. Though in the early stages of implementation, Kroger has “received positive feedback from associates and customers,” Mark Bruce, a Kroger spokesperson, said in a statement.  



Dollar Tree acquires leases for 170 of 99 Cents Only’s stores — along with IP

 

Another ultra-value retailer is expanding its footprint with locations that formerly housed 99 Cents Only Stores. Dollar Tree has acquired designation rights for 170 leases of bankrupt 99 Cents Only Stores across Arizona, California, Nevada and Texas.



Abercrombie & Fitch posts record quarter as profit soars, sales top $1B

 

Abercrombie & Fitch Co. maintained momentum in its first quarter with results that smashed expectations as the apparel retailer continues to outperform others in its sector.



Activists celebrate potential plan for the Civic Center while City Hall stays silent


A new actor may audition for the role of Civic Auditorium Savior in the coming weeks after Council is reported to have pushed forward a proposal from a private organization to refurbish and reopen the long vacant property. 



The Weekly Closeout: Best Buy sales fall 6.5% and Sierra hits 100 stores


Best Buy reported Thursday softer than expected earnings in the first quarter, attributing the Q1 6.5% revenue dip to macroeconomic conditions. 



Trader Joe’s to open eight new SoCal stores. Here’s where they will be

 

Trader Joe’s is ramping up its pace of expansion, with plans to open two dozen new grocery stores around the country, including eight in Southern California. The SoCal stores will be in South Pasadena, Northridge, Sherman Oaks, Santa Clarita, Ladera Ranch, Murrieta, Poway and Santee. Opening dates have yet to be announced. 



Meijer to open third smaller-format grocery store

 

Meijer is bringing its scaled-down grocery format to a new state. The retailer will open a 90,000-sq.-ft. Meijer Grocery store on July 11 in the mixed-use Promenade of Noblesville development, in Noblesville, Ind., near Indianapolis. It will be the chain's third Meijer Grocery location and the 43rd Meijer store in the state. 



Dirty Dough Makes its Mark in the Cookie Wars

 

The dessert chain is battling for market share in the red-hot cookie category with some help from a burgeoning platform company. Six years after launching inside an Arizona State apartment, Dirty Dough is surpassing 80 brick-and-mortar locations with dozens of units in development and 460 franchise territories sold.  



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