With more than 600 locations nationwide (and counting), Atlanta-based Moe’s Southwest Grill remains focused on growth — and on flexibility. According to its chief brand officer, Tory Bartlett, Moe’s will continue expanding in new markets and in new formats to meet guests where they are. Thanks to the introduction of new prototypes, Moe’s is able to provide franchisees with flexibility to develop with competitive real estate and in more urban environments, as well as prioritize the shift in consumer demand from in-restaurant dining to off-premise businesses. In December 2022, after …
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The three managing principals at Irvine, Calif.-based Faris Lee Investments — Shaun Riley, Jeff Conover and Don MacLellan — see retail as the best investment class today. The reason? Strong fundamentals across the board, including low vacancy rates, minimal new construction and strong tenant sales. The trio live in the same world as the rest of us, where interest rates and economic uncertainty have deterred many, but to them, the fact remains that retail has never been stronger as an asset class. “People say it’s a bad market. It’s not …
No market is immune to the consequences of current economic conditions. Certain sectors of commercial real estate, though, are better equipped to weather headwinds, primarily rising interest rates. Retail as an asset class has proven itself to be an exemplar of this. Brokers and developers say that this is especially true of Atlanta’s retail market. In the words of Dotan Zuckerman, executive vice president of retail with Portman Holdings, “retail is the shining star” and one that is “always capable of evolving.” But is difficult to participate in the economy …
Retail in Florida has proven to be a consistent winner, even as the state encounters the same macroeconomic headwinds hitting the rest of the country. Fueled by growing demand and lower supply, the sector, and leasing activity in particular, is boasting unparalleled performance. Brokers and developers working in the state who were interviewed for this article uniformly point to the sustained population surge as the driving force behind the success of retail real estate throughout the entirety of Florida. Joe Gallaher, a partner with NAI Miami|Fort Lauderdale, puts it …
The City of New Orleans is famous for its events — from parades at Mardi Gras to its world-renowned Jazz Fest and food-themed festivals. The New Orleans Downtown Development District (DDD) is intent on using those celebratory events to drive the city’s visitors to experience and enjoy all the retail that the Canal Street commercial district has to offer. New Orleans’ focus on history, experiences and food makes stopping and enjoying Downtown New Orleans a natural activity for visitors. Famous restaurants, upscale retailers, music and cultural attractions, plus exciting events repeatedly draw tourists …
City of Glendale: Support for New Business Bolstered by Streamlining
Glendale, California is home to some of Southern California’s most popular destinations and its draw for merchants, residents and visitors is undeniable. Brookfield’s Glendale Galleria and Caruso’s The Americana at Brand are two of the top shopping centers in California, iconic locations for major retailers. What can Glendale offer to make itself even more attractive for a wider range of businesses? The city is focused on streamlining permitting systems and offering a concierge service to ensure promptness, according to Bradley Calvert, director of community development for the City of Glendale. “Typically we assign a …
Frisco’s New Attractions Draw Tourists, Retailers
Just 25 miles north of Dallas sits Frisco, Texas, a city that’s famous for The Star — the 91-acre Dallas Cowboys’ world headquarters and practice facility. Like many Texans, Jeff Cheney, mayor of Frisco, loves The Star, but he loves even more the opportunities it provides to residents, visitors, nearby businesses and anyone who wants to be a part of the action. “With seven million visitors a year, we’re known as ‘Sports City USA,’” Mayor Cheney says. “One of the biggest things you can do as a city is help local …
North Florida has been a hotbed of retail activity that hasn’t shown signs of slowing, according to Carrie Smith, senior vice president of retail at Franklin Street in Jacksonville, Fla. “Retail is nothing short of being red hot,” she says. “It’s probably in the most aggressive dealmaking mode since I’ve been in business. The deal flow is very high, and it’s hard to keep up.” Jacksonville boasts low vacancy rates, in part due to its rapid population growth throughout 2022. According to Franklin Street’s latest data, Jacksonville saw deliveries of …
Glendale California Retail Hub Pulls in Merchants, Customers
Less than 10 miles north of Downtown Los Angeles is Glendale, Calif., a city with nearly 200,000 residents and an enviable location if you’re a retailer. “Within a 10-mile radius, we have access to more than 2.5 million people,” says Soua Vang, deputy director of economic development for the City of Glendale. “We are strategically located within the LA marketplace, just minutes away from some of Southern California’s most popular destinations.” If you’re a visitor, those popular destinations may include the Griffith Observatory, the Hollywood Walk of Fame or Universal Studios. …
Margaret Caldwell, managing director and senior vice president at Northmarq in Atlanta, thinks this is a great time to be a retail owner. The only problem? Sellers do too. “The biggest challenge is the small supply of retail in this market,” she says. “Sellers are very hesitant to sell, even though the ones who are selling are experiencing great results and achieving their pricing.” Caldwell notes that in the Southeast there has been a slight change in pricing of around 50 basis points over the past year or so. However, …