Weekly Perl: A Commercial Real Estate News Recap
Aldi vs. Lidl: How do the German discount grocers differ?
German grocers Aldi and Lidl are taking the U.S. grocery market by storm, but while the two discount grocers expand rapidly across the country, they appear to be targeting different customers, according to a new report from data analytics firm Placer.ai.
The report “Aldi & Lidl Making the Cut” shows that Aldi experienced increased year-over-year and month-over-month visits between February 2023 and February 2024. During that same period, Lidl experienced year-over-year monthly visit increases, except for January 2024.
These 10 retail brands are the fastest growing in the U.S., Yelp says
- Chains owned by publicly traded restaurant companies accounted for half of the top 10 fastest-growing retail brands in the U.S. last year, according to a new Yelp report.
- Jack in the Box, First Watch and Dutch Bros. were among the public restaurant chains included in the report, but they didn't crack the top 10.
- Here are the top 10 fastest-growing brands, based on Yelp's research:
Batteries Plus continues aggressive expansion
Batteries Plus has ambitious expansion plans for the remainder of 2024 — including putting down roots in new territories. The consumer and business specialty battery franchise opened eight new stores in the first quarter, with locations spanning Connecticut, Nevada, California, Colorado, New York and Florida. These new stores kicked off the company's goal of opening 39 stores and signing 45 additional locations before the end of the year.
Papa Johns to add 50 new stores through new agreement
Papa Johns will expand its footprint in several key markets through a new agreement with one of its largest franchisees. The pizza chain has announced plans to open 50 new restaurants by 2028 in partnership with franchisee Nadeem Bajwa and his company, The Bajco Group, which has grown over the past 20 years to become one of Papa Johns’ largest domestic franchisees.
IKEA to Vacate Napa Valley Distribution Center
IKEA is planning to close its 646K SF distribution center in Napa Valley as it consolidates its West Coast logistics operations and increases in-store deliveries. The Swedish home furnishings giant announced this week that layoffs will begin in June at the warehouse it has occupied since the building was delivered in 2018 at 1 Middleton Way in.
Former Big Lots President Wants To Save SoCal 99 Cents Only Stores
Former Big Lots President Mark J. Miller told local news station ABC7 he has assembled investors, some of them former 99 Cents Only executives, with the aim of acquiring some of the Southern California locations and keeping them open. The chain has a high concentration of locations in SoCal. Of its 371 total stores, 143 are in the region. Miller has changes in mind for the store, but none that seem to deviate from the brand's core offerings.
99 Cents Only Files for Chapter 11, Begins Marketing Leases
Retail discounter 99 Cents Only Stores is seeking Chapter 11 bankruptcy protection and begun marketing leases for the hundreds of stores it's closing as it winds down its business and a potential buyer emerges for some of its Southern California locations. Number Holdings, the direct parent company of Commerce, California-based 99 Cents Only, on Monday said it had filed voluntary petitions for relief in the U.S. Bankruptcy Court for the District of Delaware in order to "implement the previously announced orderly wind-down of its business and pursue a value-maximizing sale of its real estate and other assets.
Uniqlo To Expand This Year With 11 New Stores in California, Texas
Global apparel retailer Uniqlo is staging a comeback in the United States, with plans to open nearly a dozen stores this year by entering Texas for the first time and expanding its footprint in California after a troubled initial roll-out of the chain. Uniqlo, part of Japanese holding company Fast Retailing, said it will debut 11 new stores, with six in California and five in Texas, making up a significant number of the 20-plus new-store openings slated for North America in 2024.
Randy’s Donuts to add 7 shops with eye toward 50 locations by year-end
On the heels of opening a store in North Hollywood, the Inglewood, California-based donut chain will next expand in the Los Angeles area in Culver City.
