REBusinessOnline

Jersey Mike’s Sandwich Chain Invests in Delivery, Pick-Up

By Alex Patton During the business lull caused by the outbreak of COVID-19, fast casual sandwich chain Jersey Mike’s made news by rolling out a $150 million nationwide retrofit project for its stores. The project will include aesthetic and comfortability upgrades for 1,700 franchise stores, as well as expanded functionality for delivery and pick-up services — all paid for by the company. “Paying for the retrofits ourselves is a tactical move on our part,” says Peter Cancro, CEO of …

Wanted: Essential, Durable Retailers in Boston

By Alex Patton Retail real estate investors in Boston are cautiously evaluating the risk profiles of tenants even as businesses reopen following temporary closures due to the COVID-19 pandemic. The emerging consensus is that until a vaccine is developed to safely treat the virus, the safest investments are tied to essential tenants with reliable incomes. That short list includes grocers, drugstores, home improvement businesses and liquor stores. Like the rest of the country, all nonessential …

What’s Up Next For San Antonio?

Interviews conducted by Taylor Williams During the 10-year expansionary cycle, San Antonio posted one of the highest rates of population growth in the country, bringing new development of luxury apartment communities, modernized e-commerce facilities, bustling entertainment destinations and a landmark Class A office building. While some short- and long-term pain from COVID-19 is inevitable, there is also some optimism on the horizon. Industrial broker Cody Woodland of NAI Partners, …

Far North Oklahoma City Retail Market Hits Its Stride

By Stuart Graham, Senior Vice President, CBRE; Mark Inman, Senior Vice President, CBRE; and Kendra Roberts, Associate, CBRE The Oklahoma City retail market has had a growing and changing landscape over the past few years as the sector’s healthy fundamentals continue to draw both local and national investors. Although much of the growth has been focused on the downtown Oklahoma City area, we are beginning to see a new hotspot emerge in the Far North neighborhoods.[caption …

Reimagined Milwaukee Retail Scene Meets Consumer Lifestyle Needs

By Ray Balfanz, Outlook Management Group What does Milwaukee bring to mind? Beer? Cheese? TV’s “Happy Days?” Perhaps the city chosen as the site for the 2020 Democratic National Convention? Yes, that’s us — being recognized and happy about it. But since I began penning this piece in March, we’ve experienced a world of change in the realities of group gatherings: we can hardly have 10 people in a group now, let alone thousands of delegates filling our new Fiserv Forum. It’s …

Amid COVID-19, Texas Retail Owners Have Tenants’ Backs

As COVID-19 disrupts the American economy, healthcare system and way of life, retailers and restaurants — the commercial real estate users whose very profitability and essence thrive on social congregation — have already been pegged as immediate casualties of war. According to data from the U.S. Department of Commerce, total U.S. retail sales fell by 16.4 percent between April and March, well above the projected drop of 12.3 percent. And specifically within the Lone Star State, the Texas …

Innovative, Tech-Savvy Retailers Better Equipped to Survive, says Texas Panel

Brick-and-mortar retailers in Texas that have found creative ways to develop new income streams and to leverage technology to directly engage their customer bases have proven most resilient in battling the financial headwinds the sector faces as a result of the COVID-19 outbreak.A panel of retail real estate professionals in Dallas and Austin spoke to this trend and others during the Texas Retail Reboot webinar, which was held on Thursday, May 7. Shopping Center Business and Texas Real …

Texas Retail Landscape Evolves Before Our Eyes

It’s no question that 2020 has become a turning point in history. Within a few short weeks, what was a booming time in our industry has changed in the blink of an eye. Although the good times may not last forever, it’s safe to say many didn’t expect a sudden change so soon — and on such a large scale. While health remains the nation’s top priority, COVID-19 has taken a toll in some shape or form on plenty of industries in the weeks following its arrival in the United States, with …

Occupancy, Sales Per Square Foot Support Omaha Retail Scene

Over the past few decades, Omaha has grown in both size and reputation as a Midwest gem that offers affordable housing, a solid job market, excellent schools and a central location that makes both business and leisure travel a relative breeze. As our city has grown, our lifestyle has adapted, which has had an interesting impact on commercial real estate. While some developments are flourishing, others have been struggling. Overall, retail growth in Omaha is slow, but occupancy is robust in …

Influx of Out-of-State Capital Creates Cap Rate Compression in Twin Cities Market

In 2019, the Twin Cities net lease retail market experienced a historic year, benefitting significantly from aggressive western U.S. capital. The Twin Cities saw an unprecedented number of buyers from the western United States who were willing to pay a premium above local buyers for quality net leased real estate. There were 95 net lease transactions in the Twin Cities in 2019 that sold below a 7.5 percent cap rate, according to CoStar Group. Of those transactions, 33 percent were sold to …

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