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Potbelly Sandwich
Company newsGeorgiaIllinoisInvestment salesNewsRestaurantsRetailers

RaceTrac Agrees to Acquire Potbelly Sandwich Shop Chain for $566 Million

by Abby Cox

Atlanta and Chicago — Convenience retailer RaceTrac Inc. has entered into a definitive merger agreement to acquire all outstanding shares of fast-casual sandwich chain Potbelly Corp. for $17.12 per share. The all-cash transaction is valued at roughly $566 million, representing a premium of approximately 47 percent to Potbelly’s 90-day volume-weighted average price as of Sept. 9. The acquisition is expected to close in the fourth quarter, subject to customary closing conditions and regulatory approvals. Founded more than 40 years ago in Chicago, Potbelly sells toasted sandwiches, salads, soups and hand-dipped …

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Maria Toliopoulos
Company newsIllinois

Cullinan Properties Appoints New Chief Strategy Officer

by Abby Cox

Peoria, Ill. — Peoria, Illinois-based Cullinan Properties has appointed Maria Toliopoulos as chief strategy officer. Toliopoulos is an industry veteran with more than 20 years of leadership experience in real estate strategy, leasing and legal counsel. In her new role, she will be responsible for expanding Cullinan’s footprint while advancing the company’s growth initiatives. Toliopoulos joined Cullinan after most recently leading her own consulting firm, The Hyperion Group. Prior to that, she served as senior vice president of real estate at Ashley Global Retail and spent a decade at Retail Properties …

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Company newsInvestment salesNewsPennsylvania

DICK’S Sporting Goods Completes $2.4 Billion Acquisition of Foot Locker

by Abby Cox

Pittsburgh — Pittsburgh-based DICK’S Sporting Goods has completed its $2.4 billion acquisition of Foot Locker. With the merger, DICK’S will now operate more than 3,200 stores across 20 countries, while maintaining Foot Locker’s portfolio of brands including Foot Locker, Kids Foot Locker, Champs Sports, WSS and atmos. The transaction is expected to generate $100 million to $125 million in cost synergies and become earnings per share accretive in the company’s 2026 fiscal year. Goldman Sachs served as financial advisor to DICK’S for this transaction, and Wachtell, Lipton, Rosen & Katz served as DICK’S …

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Company newsIowaLeasingNews

Macerich, CBRE Develop Leasing Partnership for NorthPark Mall in Davenport, Iowa 

by Abby Cox

Davenport, Iowa — Macerich and CBRE have formed a leasing partnership for NorthPark Mall, an 855,000-square-foot regional mall located in Davenport. Riley Hogan of CBRE is the local lead CBRE representative and will oversee marketing and leasing strategies for the property. Dillard’s, JCPenney and Von Maur anchor NorthPark Mall, which features a mix of additional tenants including H&M, Windsor, Dry Goods, Barnes & Noble, Olive Garden, R&C Brazilian Steakhouse, Osaka Sushi Bar and Chick-fil-A.

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Academy Sports + Outdoors
AlabamaCompany newsDevelopmentFloridaGeorgiaIndianaMississippiNewsOhioSouth CarolinaTennesseeTexasVirginia

Academy Sports + Outdoors Opens 11 New Stores in Third Quarter 2025 

by Abby Cox

Katy, Texas — Katy, Texas-based Academy Sports + Outdoors has opened 11 new stores in the third quarter of this year, with plans to debut a total of up to 25 new locations in 2025. The sporting goods and outdoor recreation retailer has already launched three new locations in Boardman, Ohio; Beaufort, South Carolina; and Virginia Beach, Virginia; and will open eight more stores in fall 2025 in Rome, Georgia; Cullman, Alabama; Mishawaka, Indiana; Lakeland, Florida; Columbia, Tennessee; Albany, Georgia; Palestine, Texas; and Batesville, Mississippi. The 11 new store openings this …

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Eaglewood Shops
Company newsMassachusettsNew HampshireNewsRhode Island

Wilder to Manage 74 Retail Properties Across Three States

by Abby Cox

Boston — Boston-based Wilder has been selected to provide management services for 74 retail properties across Massachusetts, New Hampshire and Rhode Island on behalf of Linear Retail Properties. With the addition of these properties, Wilder’s portfolio now exceeds more than 100 locations, ranging from Maine to Florida.

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Carriage Square
CaliforniaCompany newsNews

NewMark Merrill Cos. to Manage Carriage Square in Oxnard, California

by Abby Cox

Oxnard, Calif. — Calabasas, California-based NewMark Merrill Cos. has been selected to provide management services at Carriage Square, a 205,565-square-foot shopping center located in Oxnard. NewMark Merrill now owns and/or manages 110 shopping centers across California, Colorado and Illinois. Originally built in the 1960s, Carriage Square underwent a major redevelopment in 2011 to improve its existing retail space, such as constructing a new 171,069-square-foot retail pad for Lowe’s. Other tenants at the center, which is fully occupied, include KFC, IHOP, O’Reilly Auto Parts, 7-Eleven, Master’s Donuts and Pacific Oaks Federal …

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Rita’s Italian Ice & Frozen Custard
Company newsMichiganNewsOhioSouth Carolina

Rita’s Italian Ice Continues Expansion, Plans for 19 New Store Openings in Fourth-Quarter 2025

by Abby Cox

Philadelphia — Pennsylvania-based Rita’s Italian Ice & Frozen Custard plans to open 19 new stores in the fourth quarter as part of an initiative to launch nearly 40 locations in 2025. In the first half of the year, the restaurant chain opened 16 new shops, including locations in Grand Rapids, Michigan; Nexton, South Carolina; and Liberty Township, Ohio. Newly debuted drive-thru models in Fort Worth, Texas, and Cleveland, Ohio, have been a contributing factor to Rita’s expansion efforts, according to company representatives. Founded in 1984, Rita’s Italian Ice & Frozen Custard …

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Company newsDevelopmentEntertainmentNewsTexas

The Pickle Pad Signs Four-Unit Franchise Agreement Across Four Markets 

by Abby Cox

Dallas — Dallas-based pickleball-themed entertainment venue The Pickle Pad has signed a four-unit franchise agreement across four different markets including Oak Bridge, New Jersey; Port Arthur, Texas; Hoover, Alabama; and Tampa, Florida. The company currently has seven locations under development, while preparing to open three new venues in Myrtle Beach, South Carolina; St. George, Utah; and Newport News, Virginia. While opening dates have not been announced, each location will feature multiple pickleball courts, food-and-beverage offerings, open green spaces and social and lawn games.

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Bojangles
Company newsDevelopmentNew YorkNews

Bojangles Signs 20-Unit Franchise Agreement in New York City

by Abby Cox

New York City — Bojangles has signed a franchise agreement to open 20 new units in New York City. Restaurant owner and operator Habib Hashimi of Hashimi Holding Corp. will bring the fast-food concept to the city over the next decade, after a nearly 40-year absence. Construction is underway with Bojangles’ first location in NYC in the East Flatbush neighborhood of Brooklyn, which is anticipated to open this winter. As part of Bojangles’ broader expansion across the New York metro area, the company also recently signed an agreement with a …

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