ANN ARBOR, MICH. — Domino’s Pizza Inc. (NYSE: DPZ) reported that its U.S. same-store sales grew 17.5 percent in the third quarter compared with the same period last year. The Ann Arbor-based pizza chain says it was positively impacted by customers ordering more takeout during the COVID-19 pandemic. Global retail sales increased 14.4 percent in the third quarter to more than $3.7 billion. Revenues increased $146.9 million or 17.9 percent, while net income increased $12.8 million or 14.8 percent. As of Oct. 5, Domino’s estimates that fewer than 300 international stores are temporarily shuttered. There are more than 17,200 Domino’s stores in over 90 markets.
COLUMBUS, OHIO — True Food Kitchen has opened its first Ohio restaurant at Easton Town Center in Columbus. The restaurant brand was founded in 2008 by Sam Fox and Dr. Andrew Weil, creator of the anti-inflammatory diet, which involves selecting foods that help fight chronic inflammation. True Food Kitchen serves a variety of vegetarian, vegan and gluten-free options. As a result of COVID-19, the restaurant is currently offering family to-go meals and carryout cocktails. The dining room includes 27 tables that are spaced six feet apart. The restaurant also includes an outdoor patio. There are 34 True Food Kitchen locations in 15 states.
MARYVILLE, TENN. — Ruby Tuesday Inc. has filed for Chapter 11 bankruptcy protection with plans to permanently close 185 restaurants that were shuttered during the COVID-19 pandemic. The company’s 236 open locations will remain operational throughout the reorganization process. The Maryville, Tennessee-based chain is the latest restaurant group to fall victim to the economic pressures caused by the coronavirus pandemic. California Pizza Kitchen filed for Chapter 11 protection in July citing similar struggles. “This announcement does not mean ‘Goodbye, Ruby Tuesday’ — this is ‘Hello, to a stronger Ruby Tuesday’,” said CEO Shawn Lederman in a statement Wednesday, playing off the lyrics to the popular Ruby Tuesday song recorded by The Rolling Stones, which was released prior to the company’s founding in 1972. In response to the pandemic, Ruby Tuesday implemented a number of new practices including an expansion of third-party delivery and off-premise services, the introduction of a virtual kitchen initiative and the launch of ‘Ruby’s Pantry,’ an option which allows customers to purchase uncooked food, groceries and other essentials for delivery through the company’s website. With in-store dining historically representing over 90 percent of the company’s total sales, these initiatives are expected to play a part in Ruby’s Tuesday’s …
CHICAGO — McDonald’s reported that its U.S. same-store sales rose 4.6 percent in its third quarter, which ended Sept. 30. President and CEO Chris Kempczinski cites the fast food chain’s drive-thru presence, delivery and digital capabilities as furthering its competitive advantage. The Chicago-based company says that more Americans turned to McDonald’s for dinner and promotional activity such as the Travis Scott meal drove sales. McDonald’s plans to release full third-quarter earnings before the market opens Nov. 9 and will also broadcast its investor earnings conference call that day.
DELAFIELD, WIS. — SRS Real Estate Partners has arranged the $2.8 million sale of a Chick-fil-A ground lease in Delafield, about 30 miles west of Milwaukee. The 5,012-square-foot, single-tenant building sits at 2980 Golf Court and opened in February of this year. Sheree Strome and Michael Berk of SRS represented the buyer, a Virginia-based private investor who completed a 1031 exchange. Jon Thoresen of Founders 3 Real Estate Services represented the seller, a Georgia-based developer. The cap rate was 3.96 percent.
AUSTIN, TEXAS — An undisclosed, locally based investment firm has purchased a 1,922-square-foot retail property in the South Lamar neighborhood of Austin that is occupied by Maria’s Taco Xpress. Brad Bailey and Adam Rabin of CBRE brokered the deal on behalf of Maria Corbalan, the owner of the restaurant, which has been open since 1997. Weitzman is working with the new ownership to re-tenant the building.
O’FALLON, ILL. — Knoebel Construction has completed building a new Drake’s restaurant in O’Fallon near St. Louis. The 6,014-square-foot restaurant and entertainment venue features two full-service bars and an outdoor patio. Drake’s, an entity of parent company Bluegrass Hospitality Group, is a Kentucky-based chain with 15 locations across the Midwest and Southeast. The restaurant offers more than 20 craft beers on tap as well as sandwiches, salads, burgers and sushi. Drake’s says it is closely following government guidelines for reopening during COVID-19 and working alongside state and local officials to ensure health and safety.
STANTON, CALIF. — Dan Almquist of Frontier Real Estate Investments plans to debut Rodeo 39 Public Market, a collection of eateries and retail spaces in Southern California, in mid-October. Located at 12885 Beach Blvd. in Stanton, Rodeo 39 will feature hangar doors that open up for an inside/outside setting, original artwork and murals from five different local artists and several first-to-market retail and restaurants concepts. The Rodeo 39 mix includes Banh Xeo Boys, Bearded Tang Brewery, Beleaf Burgers, Bestea, Dot & Dough, Fika Fika Creamery, Hook & Anchor, Joystix, Kra Z Kai’s BBQ, My First Kiss, Nandomo by HiroNori, Oi Asian Fusion, Phoholic, Primal Cuts, Pvsta Lab, Rodeo Bar, RTE, Shootz, Sizzle, Steel Pan Pizza, Skin Design Tattoos, Tenori, Orng Cnty, The Nail Boss, Utopia Studios, WNTD and ZeroUV. Additionally, Rodeo 39 will offer a seamless to-go ordering system called Rodeo39Go that allows for the choice of pick-up, curbside, delivery or contactless ordering via QR codes from tables within Rodeo 39 Public Market. Rodeo 39 is currently in the soft-open phase as tenants train their staff and team members. An official grand opening to the public is slated for Oct. 17 and 18.
RICHARDSON, TEXAS — Benders Sports & Spirits will open a 4,086-square-foot restaurant at 300 N. Coit Road in the northeastern Dallas suburb of Richardson, its second in the metroplex. Andy Anderson of Restaurant Properties Group represented the tenant in the negotiations for the seven-year lease. Andrew Shaw of NAI Robert Lynn represented the landlord, Pipit Partners LP.
FORT WAYNE, IND. — The Boulder Group has brokered the sale of a 2,400-square-foot property occupied by Arby’s in Fort Wayne for $1.2 million. Located at 10112 Maysville Road, the building serves as an outparcel to a Walmart Supercenter. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Midwest-based partnership. A Southeast-based buyer purchased the asset. The cap rate of 4.58 percent represents a record-setting low cap rate for an Arby’s-leased property, according to Boulder.