Weekly Retail Real Estate News

Marc Perlof • September 22, 2023
The Fed Maintains Its Wait-and-See Stance


The Federal Reserve’s policy-setting committee on Wednesday voted to leave its policy rate unchanged, suggesting that the economy is moving in the right direction and inflation impulses are easing. The decision leaves the overnight lending target rate for banks at between 5.25% and 5.5%, which the Fed believes is restrictive territory or a level that constrains economic growth.The last time the committee raised rates was at its July meeting.

 

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Portillo's Bolsters Growth Projections to 920 Restaurants


Portillo's has been around for six decades, but no era in the company's history matches up to its current growth trajectory. At a minimum, the brand said it has room for 920 U.S. stores, a more than 50 percent increase above its previous projection of 600. This larger whitespace projection calls for 120 drive-thru-only units and urban-based walk-up locations. These outlets would only appear in markets with six to eight full-scale Portillo's locations. The brand foresees additional alternative formats in airports, college campuses, and overseas.

 

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Beverly Hills Seeks To Eliminate Confusion Over Retail Image


An attempt to create an elegant image for luxury retail real estate in Beverly Hills, California, can cause confusion, real estate professionals say, potentially creating the appearance of a lack of property demand in the home to wealthy celebrities and corporate CEOs. Online news stories and social media posts have claimed that some shops and restaurant spaces around famed Rodeo Drive are empty or boarded up due to perceived theft issues.

 

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First Look: Walmart opens its first-ever pet services center


Walmart’s transparent, affordable health care model is going to the dogs. Literally. In a pilot that expands its traditional pet supplies business, the retail giant has opened its first-ever dedicated Pet Services center, in the Atlanta suburb of Dallas, Ga. It’s located in the same store where Walmart opened the doors to its first walmart health center in 2019.

 

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Inside Jack in the Box’s Franchise Revival


Salt Lake City is Jack in the Box’s first new market in over 10 years and marks the first step in an aggressive expansion effort. The 72-year-old legacy chain is making significant progress on its push to reignite franchise growth nationwide.

 

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Nontraditional Site Competition Heats Up in Fast Food


Sbarro CEO David Karam knows how to capture an impulse occasion. It starts with igniting the senses and creating a craving, then satisfying it with a slice of New York-style pizza. That’s how the chain became the quintessential food court operator synonymous with mall culture back in the early 2000s.

 

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The 24 Fastest-Growing Fast-Food Chains in America


As brands seek growth, they're still dealing with equipment issues, permitting delays, and a potential recession. All of there factors are under deep consideration as chains pick and choose real estate.

 

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Chicago Studies Possibility of City-Owned Grocery Store

The city of Chicago said it is partnering with a national nonprofit organization to explore the feasibility of opening a city-owned grocery store in an underserved area of Chicago. Chicago would be the first major U.S. city to open a municipally owned grocery store to address food inequity, according to a statement from the office of Chicago Mayor Brandon Johnson.

 

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6 Shifting Consumer Trends Affecting Quick-Service Restaurants

Consumers’ preferences are shifting like never before, due to a variety of societal and economic dynamics. How can quick-service restaurants adjust to maintain—and potentially increase—foot traffic during these transformative times? The first step is to gain awareness of the consumer mindset, and then develop a strategy to add value and growth.

 

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Birkenstock files for IPO


An iconic, German-made footwear brand with a devoted global fan base has filed to go public in the U.S. Birkenstock, which was founded some 250 years ago, has filed for an initial public offering. The company, whose filing didn’t how many shares it will list or a price range, plans to list on the New York Stock Exchange under the ticker symbol BIRK. The IPO could be valued at more than $8 billion, according to Bloomberg.

 

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L.A.'s Thriving Sycamore District Is Home to Beyonce's Management, SiriusXM, Top Restaurants and a Record Store


Los Angeles has a new, hidden hub of music, art, retail and restaurants frequented by some of the biggest stars in music who are increasingly lured to the area by industry staples including SiriusXM, Jay-Z’s Roc Nation, Beyoncé’s Parkwood Entertainment, Kobalt Music Group, recording studio Record Plant and, soon, Sony Music Publishing.

 

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Growth-Minded Freddy’s Keeps the Focus on Franchisees


Freddy’s Frozen Custard & Steakburgers has added more than 100 commitments to its growth pipeline this year already. That after just shy of 130 last year and 117 the calendar before. As one of QSR’s Franchise Council members phrased it recently, “this quiet success story from the Midwest” has left its low profile behind. But how and why the burger brand charted rapid growth during an era of delays, surging inflation, and the continued recovery of the sector out of COVID, trails back to the origin, says Chris Dull, CEO and president, who took over the top post in May 2021.

 

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No Fred Meyer stores are included in Kroger, Albertsons deal with C&S


Kroger and Albertsons agreed to sell hundreds of stores to C&S Wholesale Grocers as part of a divestiture plan for their proposed $24.6 billion merger, but the deal will not include any Fred Meyer stores, reports the Oregonian. Instead, Kroger will sell stores from their QFC chain — in addition to some Albertsons Safeway banners — in an attempt to alleviate competitive concerns in the Northwest Region.

 

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By Marc Perlof September 18, 2026
10-year Treasury yield hits highest level since 2007 ahead of Fed rate decision New York — The bond market sell-off is raising the stakes for the Federal Reserve’s monetary policy meeting this week and putting a spotlight on the central bank’s commitment to reining in inflation. Traders widely expect the Fed to raise its benchmark interest rate on Wednesday for the first time since 2023. Traders are pricing in a 92% chance of a rate hike, according to CME FedWatch, a real-time forecasting tool...
By Marc Perlof September 14, 2026
By Marc Perlof | @MarcRetailGuy CA #01489206 September 14, 2026 If you own retail real estate, here’s what just changed for you. Why CASp Reports Matter A Certified Access Specialist (CASp) report can help a California retail property owner understand accessibility issues before they become a bigger problem. It may identify concerns involving parking, paths of travel, entrances, doors, restrooms, signage, counters, slopes, and common areas. The value of a CASp report is clarity. It helps an owner understand what issues exist, what may need to be corrected, what may affect a lease or sale, and what requires legal guidance. But owners should be careful. A CASp report should not be ordered casually with no plan. If a report identifies issues and the owner does nothing, the owner may create a record of known problems without a strategy to address them. For retail property owners, the real value of a CASp report is not the report itself. It is reducing uncertainty before that uncertainty turns into buyer leverage, tenant demands, settlement pressure, or a lower sale price. What Is a CASp Report? A CASp inspection is performed by a trained accessibility professional who reviews a property for construction-related accessibility issues. For retail owners, a CASp report may review customer-facing areas such as parking, access aisles, ramps, walkways, entrances, doors, restrooms, counters, signage, slopes, and common areas. The exact scope depends on the property, the tenant use, and the purpose of the inspection. That matters because many owners do not know where the problems are until someone else points them out. That someone may be a plaintiff, attorney, tenant, buyer, lender, or inspector. Why Timing Matters Timing matters with CASp reports. In some situations, getting a CASp inspection before a claim may provide more options than waiting until after a lawsuit is filed. Owners should confirm the timing, legal effect, and any potential benefits with an Americans with Disabilities Act (ADA) attorney before relying on a CASp report. This is one reason retail owners should think about accessibility before there is pressure. Before a lawsuit, sale, refinance, major lease negotiation, tenant turnover, or remodel, an owner may have more control. The owner can speak with an attorney, decide whether a CASp inspection makes sense, evaluate the findings, budget for work, and create a plan. After a lawsuit or during escrow, the owner may have less control. Deadlines are tighter. Buyers may use the issue as leverage. Tenants may resist responsibility. Repairs may need to be priced quickly. That is when unknown risk becomes expensive. Can a CASp Report Create a Problem? Yes, if the owner handles it poorly. A CASp report can be helpful, but it can also create pressure if it identifies issues and the owner ignores them. The problem is not the report itself. The problem is having knowledge of potential issues with no plan to address them. That is why owners should speak with an ADA attorney and a qualified accessibility professional before ordering inspections, making written statements, or starting repairs. The right sequence matters. Get the right guidance. Define the purpose of the report. Review the findings. Create a realistic plan for what can be corrected, what may need more review, and what should be documented. How CASp Reports Can Affect Property Value CASp reports can affect value because they reduce uncertainty. Buyers do not only look at rent, Net Operating Income (NOI), lease term, cap rate, and tenant strength. They also look at risk. If a buyer sees unresolved ADA concerns with no report, no explanation, and no plan, the buyer may assume the worst. That can lead to a lower offer, a repair credit, a price reduction, a holdback, a longer due diligence period, or stronger seller protections. A CASp report can help shift the conversation from guessing to facts. That does not mean every buyer will ignore the issue. It does not mean the property is perfect. But it can help the owner show that the issue has been reviewed and that there is a plan. In real estate, fear often creates bigger discounts than facts. If a repair costs $20,000, the owner wants the discussion to be about $20,000, not a buyer guessing the issue could cost $100,000. That is how clarity can protect value. How CASp Reports Can Affect Leasing CASp reports can also affect leasing. A restaurant, medical tenant, dental tenant, franchise operator, or service tenant may care about accessibility before signing a lease or opening for business. If the owner understands the property’s accessibility issues before lease negotiations, the owner can better decide what work belongs to the landlord, what work belongs to the tenant, and whether the issue should affect rent, tenant improvement money, free rent, or delivery condition. Without that information, the owner may negotiate blind. That can cost money. What Retail Property Owners Should Do Retail owners should not treat CASp reports as a box to check. They should treat them as part of a risk and value strategy. Speak with an ADA attorney before ordering reports or making written statements. Use a qualified CASp professional who understands commercial properties and retail access issues. Define the purpose and scope of the report before the inspection begins. Create an action plan for items that may need correction and consider how the findings could affect a sale, refinance, lease negotiation, or tenant relationship. The goal is to avoid surprises. A surprise during escrow can become a price reduction. A surprise during a lease negotiation can become extra landlord work. A surprise after a lawsuit can become settlement pressure. Final Thought A CASp report is not magic. It does not eliminate every risk, replace legal advice, or automatically protect property value. But it can give a retail property owner something valuable: clarity. For retail property owners, the real value of a CASp report is not just knowing what is wrong. It is knowing what to do next. If you are considering a CASp report before a lease, refinance, or sale, I can help you think through how the findings may affect value, timing, and buyer leverage. In next week’s blog, “Readily Achievable ADA Repairs: What Retail Property Owners Should Understand,” we will discuss why some accessibility fixes may be more manageable than owners think, how year built can matter, and why current property condition matters more than assumptions. Based in Los Angeles. Serving Southern California. Active across California. Advising clients nationwide. #RetailRealEstate #CommercialRealEstate #CaliforniaRealEstate #RetailPropertyOwners #ADACompliance #CASp #PropertyValue #CommercialProperty #MarcRetailGuy
By Marc Perlof September 11, 2026
Morning Consult: Five Below, other retailers among 25 fastest-growing brands Five Below is one of the fastest-growing brands in the U.S. The tween and teen extreme value retailer is the No. 10 fastest-growing brand overall and the only retailer to crack the top 10 in Morning Consult’s “Fastest Growing Brands 2026” report. The study ranks the top 25 brands according to year-over-year purchasing intent. A re-launched, decades-old soda brand, Mr. Pibb, ranked No. 1. Five Below’s purchasing consideration increased 3.2 points this year, according to the report. (The retailer recently reported that its second-quarter sales r ose 22.9% to $1.26 billion...)
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