Weekly Perl: A Commercial Real Estate News Recap
Pacific Coast Highway affected by flooding, debris
A stretch of Pacific Coast Highway (PCH) was fully closed in both directions on Saturday due to flooding and debris flows caused by rainfall near State Route 27 (Topanga Canyon Boulevard), Tuna Canyon, and Big Rock, following a late-season storm.
DTSM Board urges caution on alcohol-allowed Promenade plan
As Santa Monica’s City Council moves to create a permanent entertainment zone allowing open-container alcohol consumption along the Third Street Promenade, members of the Downtown Santa Monica, Inc. (DTSM) board has raised serious concerns about security, enforcement and cost.
Open Alcohol Consumption on 3rd Street Promenade Could be Allowed by Summer
Santa Monica officials are advancing a plan to allow open alcohol consumption seven days a week on the city’s Third Street Promenade in an effort to boost economic recovery and revitalize the downtown area.
Burlington on lease-buying spree — to assume 45 Joann leases
Burlington Stores is capitalizing on the demise of bankrupt Joann to grow its footprint. The off-price retailer won the lease assignments of 45 Joann store locations, according to a court filing.
Is Burger King’s Massive Remodel Plan Working?
Burger King has been clear about the company’s urgency to modernize. It even built a 40,000-square-foot “Royal Innovation Center,” complete with a life-sized “Sizzle” prototype at the center.
Cargo Slowdown Threatens Warehouse Demand and Retail Inventories
The sharp slowdown in cargo shipments from China, triggered by the Trump administration’s imposition of 145% tariffs, is poised to reverberate through the U.S. commercial real estate sector, particularly in industrial and retail spaces.
Big Lots to reopen 132 stores in May — here are the locations
Big Lots continues its store comeback under its new owners. The discounter will reopen 132 stores across 14 states in May, with the first wave on May 1 and a second on May 15. North Carolina, Ohio and Pennsylvania lead the list with the most reopenings.
Aldi introduces itself to Las Vegas and gets ready to add 14 stores in Florida
Aldi plans to open more than 225 stores in 2025, marking the most store openings in a single year for the German discount grocer.
Rite Aid is considering another bankruptcy
The retail pharmacy is reportedly considering filing for another bankruptcy as it attempts to get back on its feet after years of financial complications, according to the Wall Street Journal.
Walmart bets that free Burger King will continue to drive memberships
Walmart is betting that consumers will consider signing up for its premium membership tier in order to get free food.
Tariffs and Tax Refunds Drive Surge in Retail Foot Traffic
Retail foot traffic rose 6.1% year-over-year for the week ending April 20, fueled by rising tax refunds, pre-tariff buying, and the Easter holiday.
Smoothie King expansion on track with strong Q1 growth
After opening its 1,200th store last year, Smoothie King is showing no signs of slowing down its expansion.
