Weekly Perl: A Commercial Real Estate News Recap
Popular ice cream brand sold as nationwide chain closes hundreds of locations
WASHINGTON — Rite Aid's bankruptcy proceedings have led to the sale of Thrifty Ice Cream.
Hilrod Holdings was named the successful bidder to acquire the ice cream brand from the nationwide pharmacy chain, according to recently filed court documents. The $19.2 million sale was approved July 1 by a federal bankruptcy judge, court documents show...
Is Wingstop on the Verge of Another Sales Tear?
Not many restaurant chains have surged at the pace of Wingstop. Same-store sales climbed nearly 40 percent over the past two calendars and average-unit volumes ended Q1 at $2.135 million. That latter figure was $1.9 million a year ago, $1.7 million the year before, and $1.6 million in 2022. If you stretch back to 2014—the year before Wingstop went public—AUVs were a shade over $1 million at $1.073 million across 693 restaurants...
Jack in the Box takes poison pill as activist investor increases stake
Jack in the Box Inc. has made a move to defend itself against a potential hostile takeover.
The quick-serve chain has adopted a limited-duration shareholder rights plan, commonly referred to as a poison pill, after Biglari Capital Corp. bought additional shares of stock...
Nordstrom will leave Santa Monica Place in August
Nordstrom has announced it will permanently close its Santa Monica store located at 220 Broadway in Santa Monica Place on August 26, marking the end of operations at one of its Southern California locations despite the company reporting strong fourth quarter earnings that exceeded expectations...
Tacos Por Favor family flips fast food model with first full-service restaurant
After nearly 25 years running fast-casual taco joints across Los Angeles, the family behind Tacos Por Favor has opened their most ambitious location yet: a full-service restaurant and bar in Santa Monica...
Kirkland's Inc. to rebrand; 'move forward' with smaller footprint, store conversions
Kirkland’s Inc. is set to undergo a rebrand and corporate name change – as well as accelerate store conversions into new Beyond portfolio locations...
Mango hits 50 U.S. stores with more on the way
Mango has reached a new milestone in its U.S. expansion.
The Barcelona-based global fashion retailer has opened its 50th U.S. location with its new store in Portland, Ore., in the city's Washington Square shopping center...
Close-out retailer Ollie’s entering two new states; July store openings include…
Ollie’s Bargain Outlet is set for a busy July.
The fast-growing close-out retailer opened its first location in Nebraska, in Omaha, on July 2. The store is located in a space that formerly housed a Big Lots outlet...
Retail sales slowdown does little to dent upward trend for store rents
U.S. retail sales faltered in May as the pull-forward of demand for durable goods and automobiles from the threat of tariffs waned. Headline retail sales fell 0.9% during the month, significantly more than the 0.6% drop expected from consensus estimates. However, most of the decline was driven by just a few retail categories...
