Orlando, Sarasota and Tampa, Fla. — Beverage concept Sip Fresh has signed a franchise deal for the development of three new stores in Florida. Franchisee Ryan McGrail will own and operate the stores, which will be located in Orlando, Sarasota and Tampa. Sip Fresh also recently signed multi-unit deals throughout California.
Fayetteville, Ark. — Arkansas-based Slim Chickens has signed a franchise deal for seven new restaurants in the state of Maryland. Franchisee DDR Holdings, a venture between Darrin and Dennis Atlas, will open the units. DDR Holdings currently owns and operates two Slim Chickens stores in the state. The Slim Chickens brand has opened in more than 255 locations across the U.S. and the U.K., with more than 1,200 stores currently in development.
Atlanta — Matthews Real Estate Investment Services has hired Pierce Mayson and Kyle Stonis as senior vice presidents, Jeff Enck as first vice president and Boris Shilkrot as associate vice president. The veteran retail specialists join the company’s shopping center division from SRS Real Estate Partners, where they managed the sales of shopping centers in 17 different states across the Southeast, Midwest and Northeast. Collectively, Mayson, Stonis, Enck and Shilkrot have brokered the sales of $4 billion in career transactions over a combined 50 years. The group will operate from the …
New York City — JPMorgan Chase & Co. (NYSE: JPM) announced plans today to expand its brick-and-mortar footprint by adding 500 Chase bank branches over the next three years. The New York City-based institution also plans to renovate 1,700 existing bank locations across the United States. New branches will expand JPMorgan Chase’s footprint in existing markets like Boston; Washington, D.C.; Charlotte, North Carolina; Philadelphia; and Minneapolis. The company will also enter several new markets, including low- to moderate-income rural communities that previously had little access to traditional banking service. The multi-billion-dollar …
Bentonville, Ark. — Walmart (NYSE: WMT) has announced plans to expand by more than 150 new stores over the next five years, both through new construction and converting existing buildings. The first two stores under this initiative — both under the company’s smaller-format Walmart Neighborhood Market banner — are scheduled to open this spring in Santa Rosa, Florida, and Atlanta. The company is currently finalizing plans for 12 new projects, one of which will be the conversion of a smaller existing location into a large-format Walmart Supercenter, which serves as both …
New York City — Retailer Macy’s has rejected a $5.8 billion buyout offer from Arkhouse Management Co. and Brigade Capital Management. In December 2023, the investor group submitted a bid to acquire the outstanding shares of the company not already owned by Arkhouse and Brigade for $21 per share in cash. The Macy’s board of directors has since determined “not to enter into a non-disclosure agreement or provide any due diligence information to Arkhouse and Brigade,” according to a press release from the company. A letter to the would-be buyers cited …
Conshohocken, Pa. — IKEA will open four stores featuring its new Plan & Order Point with Pick-Up format. Scheduled to open this year, the stores will be located in Austin, Texas, metro Atlanta and the greater Los Angeles area. Situated within Domain Shopping Center, the Austin store will open this summer and will mark the second IKEA location in the city. Plan & Order Points are “dedicated to kitchen, bedroom and living room projects,” according to the company’s website. The stores feature a smaller layout with no merchandise to be taken …
Toronto and Syracuse, N.Y. — Toronto-based Restaurant Brands International Inc. (RBI) has agreed to acquire Syracuse-based Carrols Restaurant Group Inc. for $1 billion. RBI (NYSE: QSR) owns the Burger King, Popeyes, Firehouse Subs and Tim Hortons brands. Carrols (NASDAQ: TAST) is the largest Burger King franchisee in the United States, operating 1,022 locations in 23 states. Burger King says the transaction is part of its “Reclaim the Flame” plan to accelerate sales growth and drive franchisee profitability. The transaction follows the brand’s initial $400 million investment announced in September 2022 to …
Charlotte, N.C. —Big V Property Group has appointed Eric Zimmermann as the Charlotte, North Carolina-based company’s chief acquisitions officer. Zimmermann previously served as a managing director with Eastdil Secured before joining Big V in 2023 as an advisor to the executive committee. His track record includes arranging the $660 million sale of Country Club Plaza in Kansas City, Missouri, and the $494 million sale of Avalon in Atlanta. “We are very excited that Eric has agreed to lead our acquisition and disposition efforts on a permanent basis,” says Jeffrey Rosenburg, president …
Toronto, Canada and Washington, D.C. — Avison Young has entered into an agreement to acquire Madison Marquette’s retail platform for an undisclosed price. The acquisition will include the Washington, D.C.-based firm’s retail property management, marketing and leasing services throughout the U.S.; and a portfolio comprising more than 6.1 million square feet of properties managed and leased by Madison Marquette. Madison Marquette teams will integrate with those of Toronto, Canada-based Avison Young in Los Angeles, New Jersey, Philadelphia, Indiana, Arkansas, Maryland, Virginia, Atlanta and Florida, and the acquisition expands Avison Young’s presence …
