Real Estate News | June 2011

 

 

Supermarket and Convenience:

 

7-Eleven is planning to nearly double its number of stores in Hawaii to 100 during the next five years. The expansion will mean millions of dollars of investment for Seven-Eleven Hawaii Inc., which will employ twice as many people when all 100 stores are open, the report noted. Total head count would grow from 870 employees now to nearly 1,600, according to President and CEO Greg Hanna, who took over the top job at Seven-Eleven Hawaii in September.

Albeco Inc. is seeking growth opportunities throughout the San Francisco Bay area of CA during the coming 18 months.  Typical leases run 35 years.  Preferred demographics include a population of 20,000 within one mile earning $100,000 as the average household income.  Major competitors include Whole Foods Market.

Alliance Foods, Inc. is seeking growth opportunities throughout OH during the coming 18 months. 

Murry’s – Family of Fine Foods is seeking growth opportunities throughout Washington, DC during the coming 18 months, with representation by Solomon Real Estate, Inc. The company requires sites with adequate loading and parking areas.

Superior Grocers is seeking growth opportunities throughout central and southern CA during the coming 18 months.  The company will not consider sites north of Bakersfield, CA.  A land area of four to five acres is required for freestanding locations.

SUPERVALU plans to add 160 Save-A-Lot stores this year to 1,280 already operating, after opening 92 in 2010. SUPERVALU is focusing on the value chain after seeing same-store sales decline at its regular chains, said a spokesman.

Weis Markets announced an increase of its 2011 capital expenditure budget by 7% to $110 million. The current budget includes 14 major remodels, two additions and three new/replacement stores

Home Center & Hardware:

 

Aubuchon Hardware has opened a new location in Cohasset, MA.  The new 11,000-sq.-ft. store is located in a former Chevrolet dealership.

Menards continued its Midwest expansion with a soft opening followed by a grand opening in Marshall, a town in southwestern Minnesota.  Site preparation and construction for the store had been going on since August 2008.  Menards is also hoping to open a store in Bemidji, Minn., this spring.

Menards opened the first of two planned stores in Columbus, Ohio on April 12.  The Eau Claire, Wis. retailer purchased the land for the site in 2008 but did not start construction until last May. The company is also preparing to build a second location on the east side of Columbus.

Department Stores and Apparel:

 

The Bon-Ton Stores, Inc. announced the remodeling of a 60,000 sq. ft. facility located in Markland Mall in Kokomo, IN to be completed in November 2011, at which time the company will open a new store under the Carson’s nameplate, replacing its current Elder-Beerman store presently located in the Kokomo Mall.

Forever 21 Inc. recently announced plans to open a three-story, 39,000 sq. ft. flagship store in Miami in September 2011.

Golfsmith International Holdings Inc. plans to enter the Washington, D.C. area with its first metro-area Golfsmith location in Tysons Corner in June 2011. The new Golfsmith store will be located at in Vienna, VA.

H&M will open a new store in Denver, CO at Denver Pavilions this fall, and recently announced plans to open a flagship store occupying 22,000 sq. ft. of the Lincoln Theatre in Miami in 2012. H&M is opening its first Utah store this fall, a 23,000 sq. ft. store at Fashion Place mall in Murray.

Macy's Inc. has announced the planned locations for three new Bloomingdale's Outlet stores to open in fall 2011. Stores will open in the following shopping centers: Miromar Outlets, Estero, FL (25,000 sq. ft. opening planned for September 2011), Wrentham Village Premium Outlets, Wrentham, MA (24,000 sq. ft. opening planned for October 2011), Woodfield Village Green, Schaumburg, IL (24,000 sq. ft. opening planned for October 2011).

Mango opened a new 5,500 sq. ft. store in Manhattan's Herald Square.

Nordstrom Inc. opened the doors to its new store in Newark, DE. The 123,000 sq. ft. store, at Christiana Mall, is the first Nordstrom store in Delaware. The company also announced plans to relocate its Nordstrom Rack store at the Mall at the Source to the Gallery at Westbury Plaza in Westbury, N.Y. The new store will be located approximately one quarter mile from the existing location and is expected to open in fall 2012. By relocating, Nordstrom Rack will be able to open a new 36,000 sq. ft. store in a new development that is closer to the Nordstrom full-line store at Roosevelt Field.

Prada will open its first Arizona store at Scottsdale Fashion Square later this year.

Recreational Equipment Inc. will enter South Carolina with a new one-story, approximately 22,000 sq. ft. store in Greenville, which is slated to open in fall 2011.

Rue21 Inc. opened its 500th etc! store on May 5, in Franklin Mills, PA.

The Sports Authority Inc. recently opened a new Beaverton, OR. The 56,000 sq. ft. store, located in Cedar Hills Crossing, is more than 15,000 sq. ft. larger than Sports Authority’s previous Beaverton location and will mark the eighth Sports Authority in the state of Oregon.

The Timberland Co. opened a new 2,300 sq. ft. store in San Francisco, CA at the Westfield San Francisco Centre.

Topshop recently announced plans to open a new flagship store in Chicago. The 49,000 sq. ft., three-level corner location will open on Sept. 7. The company also plans to launch a 12,000 sq. ft. store in Toronto in late September 2011.

UNIQLO Co. will continue its North American expansion, with the opening of its third New York location in fall 2011. 

 

Foodservice:

 

AFC Enterprises (dba Popeyes Louisiana Kitchen) is targeting a number of markets for growth in 2011, including Tampa and Orlando, FL, San Diego and Los Angeles, CA, Phoenix, AZ, and Philadelphia, PA, among others. The goal is to open 120-140 new restaurants, about 60 of which will be located outside the U.S.

Applebee’s plans to renovate 25-30% of its locations each year over the next several years.

Baristas Coffee Company Inc. announced that it has begun to franchise its business model and that its first franchise agreement has been signed for territories in Texas that will result in 10 locations over the next three years with an option for 20 additional units over the next eight years.

Burger King’s "20/20" design has been discontinued and plans to remodel additional restaurants to it are no longer in place.

Café Rio Mexican Grill is planning nine locations in the DC metro area.

Covelli plans to open a new Panera restaurant every two months in its FL market over the next several years.

Del Taco announced a major growth initiative for UT with the signing of a development agreement which will result in the addition of 13 new Del Taco locations in the state.

Dunkin’ Donuts announced the signing of a multi-unit store development agreement for five restaurants in North Kansas City. The first restaurant will open in 2012 and the remaining four units will be developed by 2016 in the suburbs of Liberty and Gladstone.  In addition, Dunkin’ Donuts is seeking new and existing franchisees to develop restaurants throughout MO in Columbia, Jefferson City, Springfield, St. Joseph, Joplin and Pittsburgh. Opportunities also exist in Ottumwa and Des Moines, IA.

Firehouse Subs has announced the signing of nine area representative development agreements set to add 429 restaurants within IA, LA, MA, MI, MN, NE, OH, PA and TX; the company has set goals to open 2,000 locations by 2020.

Francesca's Restaurants is targeting Minneapolis, St. Louis and Indianapolis for growth, in addition to new locations under construction in AZ, CA, and NC.

Gosh Enterprises (dba Charley’s Grilled Subs) introduced a new brand, Charley’s Philly Steaks in a company-operated location in OH. More re-models are expected but not all existing restaurants will be converted.

Jamba Inc. has signed a development agreement with tennis superstar Venus Williams to open five stores over the next two years in the Washington, DC, market.

Mama Fu’s Asian House launched a new prototype that shrinks Mama Fu’s footprint from 3,000 to 2,500 square feet. Mama Fu’s also recently signed a franchise deal for six new restaurants in NM and El Paso, TX.

Native Foods Café plans to open three restaurants in Chicago this summer.

Newk's Express Café will add five new restaurant in northeast FL in the coming years; they are among the 24 new units expected to open throughout the South.

OSI Restaurant Partners LLC said it planned to remodel as many as 150 Outback Steakhouse units and focus new unit development on the Bonefish Grill brand.

Panchero's Mexican Grill plans to open about 20 new locations each year for the next several years, expanding to NY, NJ, Boston, the Phoenix area and Sioux City.

Pei Wei Asian Diner opened its first IN location.

Sizzler will soon be opening its first new restaurant in more than three years, in addition to remodeling and reopening two closed locations. The new restaurant will open in Salt Lake City in July, and two newly reopened units are in CA. Sizzler also plans to open 12 to 15 stores in the San Diego area in the next two to three years.

Wingstop plans to add 20 additional locations in Atlanta over the next several years.