Weekly Retail Real Estate News
Markets rise after Federal Reserve hits pause again on rate hikes
What we covered here
- US stocks surged Wednesday after the Federal Reserve announced it would hold its target rate steady at the conclusion of its two-day monetary policy meeting.
Appealing To New Palates, Ethnic Grocers Expand Into New SoCal Territory
On the hunt for the freshest sushi-grade fish, the puffiest pita or the spiciest Thai peppers, a growing group of authenticity-seeking home cooks is driving demand for ethnic grocers to expand into parts of Southern California where they have never been before.
Available retail space hits 18-year low
Expanding brands are now contending with the biggest seller’s market in retail real estate in nearly 20 years, according to one of the world’s largest real estate services companies.
Net-Lease Giant Realty Income To Become Even Bigger With Deal To Buy Spirit Realty Capital
One of the largest publicly traded real estate investment trusts plans to buy rival single-tenant, net-lease property giant Spirit Realty Capital Inc. in an all-stock transaction valued at roughly $9.3 billion. Realty Income Corp. executives said the acquisition would make the REIT the fourth-largest on the S&P 500, as well as the index's 150th-largest company, with an enterprise value of $63 billion.
Denny’s To Grow Location Count for Its New Breakfast-Focused Chain
Denny’s is looking to expand the footprint of Keke’s Breakfast Cafe beyond its Florida home base after signing 14 franchise agreements to open at least 100 locations nationwide over the next five years.
Inglewood transit project gets favorable rating from federal government
INGLEWOOD – The city of Inglewood announced they have achieved a major milestone in receiving federal funding towards the Inglewood Transit Connector (ITC) project. The City received a positive rating which declares the project eligible for funding from the Federal Transit Administration’s Capital Investment Grants (CIG) program which moves the project closer to groundbreaking.
Noodles Finds Gold with ‘Under the Rainbow’ Growth Strategy
Thanks to available markets in warmer climate states, the fast casual believes it has room for 2,000 restaurants in the next 10 to 15 years. Noodles & Company believes the future of franchising is “under the rainbow,” according to a new development strategy. The national fast casual has been monitoring guest migration patterns, which show a pot of gold in the southern region of the U.S.
BJ’s to make Alabama debut
Bj’s Wholesale Club is getting ready to enter its 20th state as it continues to grow its footprint in the Southeast.
The membership warehouse club retailer will open a store in Madison, Ala., on Friday, Nov. 10. The club is part of Town Madison, a mixed-use development close to Toyota Field.
Walmart invests over $500M to upgrade 117 stores
Walmart on Friday will celebrate the grand reopening of 117 stores representing over a half a billion dollars in capital investments across 30 states, the company announced Monday. Walmart is investing more than $9 billion over two years to modernize over 1,400 stores across the U.S.
American Freight expands into Utah with SLC locations
Appliance and furniture retailer American Freight is expanding its presence into a new state: Utah. The retailer is expanding its footprint of stores into the Beehive State with four locations in Ogden, Layton, Orem and Logan, all in the Salt Lake City metro area. The 23,000-sq.-ft. Ogden store is slated to open first, with a grand opening celebration scheduled for Nov. 10-12.
Authentic Restaurant Brands completes acquisition of Pollo Tropical parent Fiesta Restaurant Group for $225 million
Authentic Restaurant Brands has completed its previously announced acquisition of Fiesta Restaurant Group, parent of the Pollo Tropical chain, for $225 million, or $8.50 per share, the acquiring company said Monday, taking the company private. Trading of Fiesta’s stock on the NASDAQ Global Exchange was also halted on Monday.
The Nuances of Calculating Net Operating Income (NOI)
Commercial Real Estate is an industry in which the numbers tell the story. Between rent growth, vacancies, cap rates, and more, it can be difficult to get a quick idea of how a given property is faring in today’s CRE environment. This is especially true in a turbulent CRE landscape, where different sectors face different levels of success given various economic factors. This is where Net Operating Income (NOI) comes in.
Can Kylie Jenner’s Khy follow in Skims’ $4 billion footsteps?
The Kardashian-Jenner clan’s business venture successes are numerous at this point. Between the billion-dollar Skims and the continuously growing Good American, the family has now had multiple major fashion successes. That’s been thanks, in part, to partnerships with the serial entrepreneur couple of Emma and Jens Grede, who co-founded both brands.
