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Company newsNewsRetailersTexas

Sport Clips Company-Owned, Franchisees Locations Weather Pandemic, Reopen 98 Percent of Locations

by Alex Tostado

Georgetown, Texas — Sport Clips Haircuts has reopened 98 percent of its more than 1,800 locations in the U.S. and Canada, the Georgetown-based company reports. At the onset of the pandemic, Sport Clips sent out a letter to landlords saying it would waive franchise agreement fees for franchisees in an attempt to make paying rent more feasible. By paying more than $300,000 in rent for 69 company-owned locations in Texas, Arkansas, Nevada and Oklahoma, Sport Clips was able to prioritize tools and resources for franchisees. “Few times does a company get the opportunity to truly …

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Company newsNewsRestaurantsTennessee

Ruby Tuesday Files for Chapter 11 Bankruptcy Protection, Closes 185 Restaurants

by Alex Tostado

Maryville, Tenn. — Ruby Tuesday Inc. has filed for Chapter 11 bankruptcy protection with plans to permanently close 185 restaurants that were shuttered during the COVID-19 pandemic. The company’s 236 open locations will remain operational throughout the reorganization process.  The Maryville, Tennessee-based chain is the latest restaurant group to fall victim to the economic pressures caused by the coronavirus pandemic. California Pizza Kitchen filed for Chapter 11 protection in July citing similar struggles.  “This announcement does not mean ‘Goodbye, Ruby Tuesday’ — this is ‘Hello, to a stronger Ruby Tuesday’,” …

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Company newsDevelopmentNewsRetailersTennessee

Dollar General to Launch New Retail Concept Targeting Wealthier Shoppers, Nashville to House First Stores

by Alex Tostado

Goodlettsville, Tenn. — Dollar General will launch popshelf, a new shopping concept that will offer seasonal and home décor, health and beauty must-haves, home cleaning supplies, party goods and entertaining needs. The Goodlettsville-based retailer says 95 percent of the items will be priced at $5 or less. Each popshelf location will average 9,000 square feet and will house up to 15 employees. The first two locations will open near Nashville this fall with the company expecting to open another 30 locations by the end of fiscal year 2021, which will …

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Company newsMichiganNewsRestaurants

Quarterly Same-Store Sales Rise 17.5 Percent for Domino’s

by Alex Tostado

Ann Arbor, Mich. — Domino’s Pizza Inc. reported that its U.S. same-store sales grew 17.5 percent in the third quarter compared with the same period last year. The Ann Arbor-based pizza chain says it was positively impacted by customers ordering more takeout during the COVID-19 pandemic. Global retail sales increased by 14.4 percent in the third quarter to more than $3.7 billion. Revenues increased $146.9 million or 17.9 percent, while net income increased $12.8 million or 14.8 percent. As of Oct. 5, Domino’s estimates that fewer than 300 international stores …

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DevelopmentEntertainmentGeorgiaNews

Puttshack Breaks Ground on 25,000-Square-Foot Mini-Golf Location in West Midtown Atlanta

by Alex Tostado

Atlanta — Puttshack, a technology-infused mini-golf operator from the same team behind Topgolf, has broken ground on a new location at The Interlock in Atlanta. The 25,000-square-foot Puttshack is expected to open in spring 2021. The property will feature four mini-golf courses, a bar and an indoor-outdoor rooftop patio. The location will open at 1085 Howell Mill Road, three miles north of downtown Atlanta and two miles from an existing Topgolf location. Local firm S.J. Collins Enterprises is developing The Interlock, a $450 million, nine-acre development. The property is expected …

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DevelopmentGrocery-anchoredNew YorkNewsRetailers

ShopRite Opens 70,000-Square-Foot Grocery Store at The Boulevard on Staten Island

by Alex Tostado

New York City — ShopRite has opened a 70,000-square-foot grocery store at The Boulevard, a $200 million retail redevelopment project on Staten Island. Kimco Realty Corp. is leading the redevelopment of the 400,000-square-foot, open-air center, which will add retailers such as Marshalls, Ulta and PetSmart to its roster in 2021. The new ShopRite features specialty prepared foods from Valducci’s pizza, Loon Chuan Asian cuisine, Saladworks, Juice Press and Dunkin’ coffee, as well as onsite access to a registered dietitian and beauty consultant.

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Investment salesKentuckyNewsRetailers

PRG Commercial Arranges $9.3 Million Sale of Stonybrook South Shopping Center in Louisville

by Alex Tostado

Louisville, Ky. — PRG Commercial Property Advisors has arranged the $9.3 million sale of Stonybrook South Shopping Center, a 149,000-square-foot retail property in Louisville. At the time of sale, the 14.5-acre center was leased to Dick’s Sporting Goods, Planet Fitness, PetSmart, Rack Room Shoes and Burkes Outlet, which opened Sept. 21. Stonybrook South is situated at 3500 S. Hurstbourne Parkway, 13 miles east of downtown Louisville. Fred Sutterlin of PRG Commercial was the court-appointed receiver for the property, which was in foreclosure from February 2018 to Sept. 21, 2020. During …

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CaliforniaContent PartnersFaris Lee InvestmentsInvestment salesNewsRetailers

Faris Lee Brokers $4.3 Million Sale of Property Leased to Starbucks in Metro Los Angeles

by Alex Tostado

Santa Ana, Calif. — Faris Lee Investments has brokered the $4.3 million sale of a retail property leased to Starbucks Coffee in Santa Ana. Starbucks recently signed a 10-year corporate-guaranteed lease at the site, which is located at 2701 N. Grand Ave., 30 miles southeast of downtown Los Angeles. Shaun Riley and Nick Miller of Faris Lee represented the buyer, an Orange County, California-based private family investor, in the transaction. The sale closed five days before the buyer’s deadline for completing a 1031 exchange. Patrick Wade and Alex Kozakov of …

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GeorgiaGrocery-anchoredInvestment salesNewsRetailers

Colliers Negotiates $3.8 Million Sale of Grocery-Anchored Retail Property in Metro Atlanta

by Alex Tostado

Stone Mountain, Ga. — Colliers International has negotiated the $3.8 million sale of Indian Creek Crossing, a 63,650-square-foot, grocery-anchored shopping center in Stone Mountain. Food Depot anchors the center, which was 88 percent leased at the time of sale to tenants including Family Dollar and local retailers. Indian Creek Crossing is situated at 4100 Redan Road, 11 miles east of downtown Atlanta. Joe Montgomery and Tony D’Ambrosio of Colliers represented the seller, Tarrytown, N.Y.-based DLC Management. Locally based private investor Vishal I LLC acquired the asset, which was originally built …

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Investment salesNewsRetailersSouth Carolina

Marcus & Millichap Arranges $2.4 Million Sale of Retail Strip Center in Upstate South Carolina

by Alex Tostado

Greer, S.C. — Marcus & Millichap has arranged the $2.4 million sale of Orangetheory Fitness Strip Center, an outparcel to Riverside Crossing Shopping Center, in Greer. The 6,500-square-foot outparcel is leased to Orangetheory Fitness, Greenfield’s Bagels & Deli and Stevenson Tax & Accounting. The sale is the final piece of the Riverside Crossing Shopping Center portfolio, which comprises a Lowe’s Foods grocery-anchored shopping center and two outparcels totaling 58,358 square feet. The asset is located at 870 E. Suber Road, 10 miles east of downtown Greenville. Zach Taylor and Don …

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