Weekly Retail Real Estate News
Amazon offers on-demand primary care benefit to Prime members
Amazon is expanding its presence in health care — and enhancing its Prime subscription program — with a new benefit for Prime members. The online retail giant is now offering Prime members unlimited access to 24/7 on-demand virtual care from One Medical, the membership-based primary health care provider it acquired for $3.9 billion in February 2023
Dutch Bros brews up strong quarter; sees potential for 4,000 locations
Dutch Bros Inc. reported top- and bottom-line growth for its third quarter as it continues its aggressive expansion.
The fast-growing drive-thru coffee chain is on track to open at least 150 new shops this year. It opened 39 new locations across 11 states — including its first ever in Alabama and Kentucky — during the quarter, for a total count of 794 stores in 16 states as of Sept. 30, a 23.9% year-over-year increase. (It has since reached 800 locations.) Of the 39 new shops, 37 were company operated.
Jersey Mike’s Has No Plans to Let Up
If you just hear Jersey Mike’s growth agenda, it sounds aggressive, CEO Peter Cancro admits. In 2024, the sandwich chain expects to open 350 locations. The same figure, or thereabouts, is on deck for the following year. Then, come 2026, the real breakout—400, 450 openings before settling into a cadence of 13–15 percent annual unit growth after that. We’d be talking 10–15 openings per week for a brand (then called Mike’s Subs) Cancro acquired in 1975 at 17 years old—famously too young to legally slice a sub—with a $125,000 loan backed by his football coach. Or, viewed from above, 5,000-plus domestic locations within five years on the road to 10,000 stores.
Fairfield Inn coming to 3640 W. Century Boulevard in Inglewood
A long-vacant property near SoFi Stadium and Intuit Dome in Inglewood is primed for redevelopment with a Marriott-brand hotel, architecture firm AXIS/GFA has announced. The new Fairfield by Marriott, planned for a site at 3640 W. Century Boulevard, has already received approvals from Inglewood's Planning Division, according to a representative of the firm.
Shake Shack, Now 500 Locations Strong, Keeps Learning and Growing
Shake Shack recently crossed its 500th restaurant globally. It would be a laughable understatement to say much has changed since a Michelin-starred restaurateur introduced a hot dog cart 19 years ago with the goal to benefit New York City’s Madison Square Park. But it’s the last few years that have really shaped the coming act.
