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Company newsDevelopmentNevadaNewsRestaurants

Bojangles Signs Development Agreement for 20 Restaurants in Las Vegas

by Hayden Spiess

Las Vegas —Bojangles has signed a development agreement for 20 new restaurants in Las Vegas, as well restaurants within 10 TravelCenters of America franchise locations. TravelCenters of America franchisee LVP Restaurant Group LLC, an entity of LV Petroleum, and its investment partner, Kingsbarn Realty Capital, will lead the projects. In partnership with LVP Restaurant Group, Kingsbarn will identify and acquire properties suitable for the new Bojangles developments. In July, Bojangles launched its expansion strategy, including a streamlined menu, new building design and new staffing model. 

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Chick-fil-A-drive-thru-concept
Company newsDevelopmentGeorgiaLeasingNew YorkNewsRestaurants

Chick-fil-A to Test Two New Restaurant Concepts in Metro Atlanta, New York City 

by Hayden Spiess

Atlanta and New York City — Chick-fil-A has announced plans for two new restaurant concepts. Beginning in 2024, the brand will open an elevated drive-thru concept in metro Atlanta as well as a walk-up restaurant in New York City. Both concepts are designed to enhance efficiency and convenience, with plans for the drive-thru restaurant including a kitchen built above the drive-thru lanes and dedicated lanes for mobile orders. Targeted toward urban areas with heavy foot traffic, the walk-up concept will allow guests to order through the Chick-fil-A app and pick up …

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J.C.-Penney-Plano
Company newsLeasingNewsTexas

JCPenney Reopens 320,000-Square-Foot Office Campus in Texas

by Hayden Spiess

Plano, Texas — JCPenney has reopened its 320,000-square-foot corporate office at The Campus at Legacy West (CALWest) in Plano, welcoming back some 2,000 associates in the process. The department store chain originally opened in CALWest campus in 1992 when it relocated to Texas from New York City, but the offices were largely shuttered after the company filed for Chapter 11 bankruptcy protection during the early days of the COVID-19 pandemic. The office now features an open floor plan to encourage collaboration among employees, who will also have access to amenities such …

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WHP-Global-New-Flagship-American-Dream
Company newsLeasingNew JerseyNews

Babies”R”Us Opens Flagship Store at American Dream Development in Metro New York City

by Hayden Spiess

East Rutherford, N.J. — Babies”R”Us has opened flagship store at American Dream, a 3 million-square-foot retail development located in East Rutherford, roughly 13 miles outside New York City. In addition to a baby registry lounge, nursery design center, learning center and comfort zone, the store features interactive experiences. This marks the return of the chain to the U.S. following WHP Global’s acquisition of both the Babies”R”Us and Toys”R”Us brands in 2021 and the opening of a Toys”R”Us flagship store last year. 

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Hardee's
AlabamaCaliforniaCompany newsFloridaGeorgiaInvestment salesKansasMissouriMontanaNewsRestaurantsSouth CarolinaWyoming

High Bluff Capital to Acquire 81-Restaurant Hardee’s Portfolio

by Hayden Spiess

San Diego — High Bluff Capital Partners will assume ownership of a portfolio comprising 81 Hardee’s locations following an auction. Located in Alabama, Florida, Georgia, Kansas, Missouri, Montana, South Carolina and Wyoming, the restaurants were previously owned by franchisee Summit Restaurant Group, which filed for Chapter 11 bankruptcy in May of this year. The transaction is expected to close in August. Dave Dixon will oversee operation of the restaurants. “High Bluff is the ideal partner to support our efforts…while making critical investments in restaurant remodels and other initiatives to boost traffic …

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Company newsFinanceNew JerseyNews

All 120 Buy Buy Baby Stores to Close

by Hayden Spiess

Union, N.J. — All 120 Buy Buy Baby stores will close following the bankruptcy of its parent company, Bed Bath & Beyond, reports CNBC. Bed Bath & Beyond, which filed for Chapter 11 bankruptcy in April, previously planned to sell the chain, with brand management firm Go Global Retail interested in acquiring Buy Buy Baby and continuing to run its stores. Instead, Dream on Me Industries has purchased the brand’s trademark and digital assets for $15.5 million. Buy Buy Baby’s website reports that though stores currently remain open, they have “made the difficult …

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Company newsDelawareIndianaInvestment salesKentuckyMarylandMichiganNew YorkNewsOhioPennsylvaniaRestaurantsVirginia

Necessity Retail REIT Sells 44 Bob Evans-Leased Properties for $93 Million

by Hayden Spiess

New York City — The Necessity Retail REIT Inc. (RTL) has completed the sale of 44 properties leased to Bob Evans restaurants for a total $93 million. The restaurants are located in Kentucky, Indiana, Ohio, Michigan, Delaware, Pennsylvania, Virginia, West Virginia and Maryland. “With this sale, we have intentionally reduced our total portfolio exposure to fast casual dining to less than 2 percent from 4 percent, based on annualized straight-line rent,” says Michael Weil, chief executive officer of RTL. 

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Company newsMassachusettsNews

Christmas Tree Shops to Close All 70 Stores

by Hayden Spiess

Middleborough, Mass. — Massachusetts-based Christmas Tree Shops will close all of its roughly 70 stores, reports CNN. Previously, the chain planned to sell, following filing for Chapter 11 bankruptcy in May. Now, all stores will be closed, unless a last-minute buyer comes forward. Formerly, the brand was owned by Bed Bath & Beyond, which sold the concept to Handil Holdings in 2020 and filed for bankruptcy itself earlier this year. 

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Lance-Taylor
ColoradoCompany newsNews

Lance Taylor Joins NewMark Merrill as Vice President of Acquisitions and Development 

by Hayden Spiess

Westminster, Colo. — Lance Taylor has joined NewMark Merrill Cos. as vice president of acquisitions for the firm’s Mountain States division, based in Westminster. Taylor, who has 30 years of experience in the industry, will source and oversee property acquisitions and identify and manage new development projects in the region. Most recently he served as principal of real estate investments and development for SL Taylor Investments LLC. NewMark Merrill Mountain States currently owns and operates 10 retail centers totaling 1,500,000 square feet. 

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CaliforniaCompany newsFinanceNews

Westfield Pulls Out of San Francisco, Surrenders Mall to Lender

by Hayden Spiess

San Francisco — Westfield plans to pull out of San Francisco and surrender the San Francisco Centre mall to the property’s lender, reports CNN. The decision follows the closure of stores including Banana Republic and Nordstrom. A spokesperson for Westfield previously attributed the closure of the latter to “unsafe conditions for customers, retailers and employees.” According to SFGATE, Westfield and its partner, Brookfield Properties, have ceased loan payments on the mall. In a statement provided to the publication, Westfield noted that it has operated San Francisco Centre for more than …

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