Development

The Grand at Aliana
DevelopmentNewsTexas

NewQuest Breaks Ground on 87,502-Square-Foot Retail Project in Richmond, Texas 

by Abby Cox

Richmond, Texas — Local developer NewQuest has broken ground on an 87,502-square-foot retail expansion of The Grand at Aliana, a 650,000-square-foot retail power center in the Houston suburb of Richmond. The new space is preleased to Dick’s Sporting Goods (60,249 square feet) and Havertys Furniture (27,253 square feet). Both stores are expected to open before the end of the year. Matt Reed and Greg Bracchi of SHOP Cos. represented Dick’s Sporting Goods in the lease negotiations. Mark Reeder, Ed Heap, Jonathan Probst and Ryan Johnson of SRS Real Estate Partners …

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The-Oaks-of-District-West-Richmond-Texas
DevelopmentFinanceNewsTexas

Forman Capital Provides $37 Million Construction Loan for Metro Houston Retail Development

by Abby Cox

Richmond, Texas — Florida-based Forman Capital has provided a $37 million construction loan for The Oaks of District West, an 87,244-square-foot retail project located in Richmond, approximately 30 miles southwest of Houston. Developed by Ferguson Family Partners, The Oaks of District West will consist of 10 buildings that are 70 percent preleased, as well as central green space. Tenants that have committed to the project include pickleball concept The PICKLR, Grazia Italian Kitchen, Luckie’s Burger, Pacific Coast Tacos, Virtual Golf Bar and Pecan Jack’s Ice Cream. Daniel Eidson of Concord …

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Phenix-Exterior
DevelopmentNewsRetailers

Phenix Salon Suites Ends 2025 with 26 New Locations, Plans to Open 30 More in 2026

by Abby Cox

Las Vegas — Phenix Salon Suites concluded 2025 with 26 new locations, as well as one international venue in York, United Kingdom. Meanwhile, the brand has also recently signed more than 30 new franchise agreements across new and existing markets for 2026, including Texas, Florida, California, New York and New Jersey. Phenix Salon Suites began franchising in 2012 and currently has more than 425 locations across 33 states, with continued plans to expand internationally.

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TGI-Fridays
Company newsDevelopmentNewsRestaurantsTexas

TGI Fridays Unveils New Expansion Plan, Targets 1,000 New Restaurants by 2030

by Abby Cox

Dallas — Dallas-based casual dining chain TGI Fridays has unveiled a new expansion plan. Under its “1-2-3 Strategic Vision,” the company is aiming for more than 1,000 new restaurants and $2 billion in revenue by 2030. The U.S.-based company intends to support its strategy with initiatives such as menu and beverage changes, improved guest experiences and upgrades to restaurant atmosphere. The brand’s growth strategy also includes a diverse mix of formats, including high-volume airport locations to hotel concepts and traditional full-service restaurants. TGI Fridays filed for Chapter 11 bankruptcy in November …

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perimeter-pointe
DevelopmentGeorgiaMixed-useNews

Ardent Cos. Acquires 360,000-Square-Foot Perimeter Pointe in Atlanta, Plans Mixed-Use Redevelopment

by Abby Cox

Sandy Springs, Ga.  — The Ardent Cos. has acquired Perimeter Pointe, a 360,000-square-foot retail property located in Atlanta’s Central Perimeter submarket of Sandy Springs, with plans to transform the property into a mixed-use development. Renovations will include the prioritization of walkability and accessibility, an improved tenant lineup, the lease up of vacant space and remerchandising the existing tenant mix. The redevelopment will also feature the addition of a multifamily component to the property. Current tenants at Perimeter Pointe include Five Below, Office Depot, Dick’s Sporting Goods and HomeGoods.

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grossmont-center
CaliforniaDevelopmentNews

Federal Realty Underway on Redevelopment of 925,000-Square-Foot Shopping Center in La Mesa, California

by Abby Cox

La Mesa, Calif. — Federal Realty Investment Trust is underway on the redevelopment of Grossmont Center, a 925,000-square-foot shopping center located in the San Diego suburb of La Mesa. The first phase of the multi-year renovation will include façade upgrades for storefronts; updated landscaping and greenery; enhanced common areas with new outdoor seating; and improvements to pedestrian foot traffic routes, lighting and overall visibility. Completion of Phase I is anticipated for October 2026. All existing businesses will remain open throughout construction. Federal Realty Investment Trust acquired Grossmont Center in 2021. Tenants …

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Rita’s Italian Ice & Frozen Custard
Company newsDevelopmentNewsPennsylvaniaRestaurants

Rita’s Italian Ice & Frozen Custard Surpasses 600 Locations in 2025

by Abby Cox

Philadelphia — Rita’s Italian Ice & Frozen Custard finished 2025 with more than 600 locations worldwide, with further expansion planned in the year ahead. In 2025, Rita’s opened 35 new shops systemwide, including new shop openings across the Southeast, Texas and Mid-Atlantic, as well as the brand’s first-ever location in Louisiana. This year, Rita’s expects to open approximately 45 additional shops. Drive-thru development emerged as one of Rita’s growth drivers in 2025. Across the system, the company reports that drive-thru locations are delivering more than 30 percent higher performance compared to …

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Aldi_Chicago
Company newsDevelopmentNewsRetailers

Aldi to Open 180 New U.S. Grocery Stores This Year

by Abby Cox

Batavia, Ill. — Aldi, a German discount, small-format grocer, plans to open 180 new stores across 31 states this year. By the end of the year, Aldi will operate approximately 2,800 U.S. grocery stores, including its first Maine location in Portland and 10 new stores in the metro Phoenix area. The grocer has operated stores in the United States for 50 years and has gained a loyal following in recent years as the demand for discount grocery items increases in the face of inflation. The company disclosed that 17 million Americans …

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Smalls-Sliders
DevelopmentNebraskaNewsRestaurants

Smalls Sliders to Open Four Restaurants in Nebraska

by Abby Cox

Lincoln and Omaha, Neb. — Atlanta-based cheeseburger slider concept Smalls Sliders has signed a franchise agreement to open four new restaurants, dubbed “Cans,” in Lincoln and Omaha. Smalls Sliders plans to debut the first of its four Cans in 2026, with development site selections underway. Founded in 2019, Smalls Sliders currently has 375 Cans open or under development and is active across 30 states. 

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ovation-orlando
DevelopmentEntertainmentFloridaMixed-useNews

Accesso Acquires Development Site in Orlando for $70 Million, Plans 670,000-Square-Foot Mixed-Use Entertainment District

by Abby Cox

Orlando, Fla. — Accesso has purchased a 76-acre site in Osceola County to develop Ovation Orlando, a master-planned mixed-use entertainment district located at the northeast intersection of Interstate 4 and U.S. 192 in Orlando, for more than $70 million. The project is scheduled to break ground in the first quarter or 2026. Ovation Orlando will be divided into five adjacent zones across 670,000 square feet, which will offer experiential retail, dining, lifestyle amenities and entertainment, as well as 740 hotel rooms and condominiums. The new development will also feature green spaces, …

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