Weekly Perl: A Commercial Real Estate News Recap
Raising Cane’s chicken restaurant will open on the Promenade
Louisiana-based chicken chain Raising Cane's will open its first Santa Monica location on the Third Street Promenade as the company continues its aggressive California expansion and the city continues to relax restrictions on chain restaurants in its flagship retail district.
The new restaurant will be part of Raising Cane's broader push across the Golden State, where the company now operates roughly 117 locations — the second-highest state total behind Texas. The chain has been rapidly expanding its California footprint since opening its first West Coast location in Costa Mesa in 2015...
Fed’s Powell opens door to rate cut, citing job market risks
JACKSON HOLE, Wyoming — Federal Reserve Chair Jerome Powell hinted Friday that the Fed might cut interest rates soon but added a subtle bit of context: It’s not because President Donald Trump is pressuring him.
Powell, delivering a closely watched speech at the central bank’s annual conference in Grand Teton National Park, said the U.S. economy faces two competing risks: that inflation could get worse, which would call for more elevated rates, and that the labor market could weaken, which would call for lower rates...
Retailer Car Toys plans sale of 35 stores as part of bankruptcy
Car Toys, an auto parts and accessories retailer, plans to sell most of its store fleet after joining the growing group of chains that are seeking bankruptcy protection.
The 38-year-old Auburn, Washington-based company on Aug. 18 filed for voluntary Chapter 11 and is looking to sell 35 of its 47 brick-and-mortar retail locations. The buyers are "five different parties consisting of highly tenured employees and regional competitors," Car Toys said in a statement. It also plans to close stores, according to court filings...
Dillard’s joins list of retailers-turned-landlords with Texas mall purchase
A Texas mall has sold in a deal to its anchor tenant Dillard’s, along with developer Trademark Property Co., as U.S. retailers buy shopping centers where they have stores to get more control over the places where they sell.
It’s a sign of optimism for brick-and-mortar retail, even as new construction of such space has slowed due to oversupply and rising costs...
Immersive Netflix House locations scheduled, marking atypical openings for a studio
Streaming giant Netflix has set the debut dates for a different type of opening for a studio owner: its new interactive entertainment-and-retail venues near Philadelphia and in Dallas.
The first-ever Netflix House, slated for a former Lord & Taylor store at King of Prussia mall outside Philadelphia, is scheduled to open on Nov. 12. A second one, taking over part of a former Belk store at Galleria Dallas, is to launch roughly a month later, on Dec. 11, Netflix said Monday...
Ace Hardware on track to open 175 new stores by end of 2025
Ace Hardware is marching forward with store expansion.
The Illinois-based hardware retail has opened 100 new stores so far this year, and is on pace to open more than 175 new locations by the end of 2025. Over the past five years, Ace has opened more than 930 new stores as it continues to expand its presence nationwide. The chain operates almost 5,200 retail stores in the United States...
White Castle to open first Texas restaurant next year
A pioneering quick-serve chain is planning to open its first location in the Lone Star State.
White Castle will debut in Texas in the summer of 2026 with a location at the Grandscape dining and entertainment complex in The Colony, a northern suburb of Dallas. The chain says the new restaurant is anticipated to create 80 to 100 jobs.
Abercrombie & Fitch posts strong quarter fueled by Hollister; raises outlook
Abercrombie & Fitch Co. reported a better-than-expected second quarter as another strong performance by its Hollister brand helped compensate for declining sales at its namesake division...
