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Jack in the Box
CaliforniaCompany newsNews

Jack in the Box Relaunches Franchise Development Program, Will Open 64 New Restaurants

by Julia Sanders

San Diego, Calif. — Jack in the Box Inc. will build 64 new restaurants as part of 16 franchise development agreements. The 64 new locations will be located in Arizona, California, Idaho, Texas and Utah. Jack in the Box has opened 10 locations year-to-date with the goal of reaching 4 percent annual restaurant growth by 2025. In addition, Jack in the Box announced a new prototype earlier this year, which features a lane for drive-thru as well as a lane for online pickup and third-party delivery. These new prototypes are …

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Carver Shopping Center
Investment salesMassachusettsNews

Marcus & Millichap Brokers Sale of 85,199-Square-Foot Shopping Center in Metro Boston

by Julia Sanders

Carver, Mass. — Marcus & Millichap has brokered the sale of an 85,199-square-foot shopping center in Carver, about 45 miles south of Boston. Grocer Shaw’s anchors the property, which was built in 2005. Other tenants include CVS/pharmacy, Anytime Fitness and Jamie’s Fine Wine & Spirits. Glen Kunofsky, Josh Kanter and Anthony D’Ambrosia of Marcus & Millichap brokered the deal. The buyer and seller were not disclosed.

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Investment salesMontanaNews

Lee & Associates Brokers Sale of 145,637-Square-Foot Shopping Center in Billings, Montana

by Julia Sanders

Billings, Mont. — Lee & Associates has arranged the sale West Park Promenade, a retail center in Billings. A Ketchum, Idaho-based private investor sold the property to a Bellevue, Washington-based 1031 exchange investor for an undisclosed price. Jan Finchman and Shane Jimenez of Lee & Associates represented the seller in the deal. A new Town & Country Foods anchors the 145,637-square-foot retail center, which is situated on 12 acres. The asset recently underwent a $13 million renovation to transform from a mall to a community shopping center. Other current tenants …

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IndianaInvestment salesNews

Ziff Real Estate Sells Pyramid Place Shopping Center in Indianapolis for $10.6 Million

by Julia Sanders

Indianapolis — Ziff Real Estate Partners (ZRP) has sold Pyramid Place Shopping Center in Indianapolis for $10.6 million to an undisclosed buyer. The neighborhood shopping center is located at the intersection of Michigan Road and West 86th Street and features a gross leasable area of 51,974 square feet. The property was 86 percent occupied at the time of sale by tenants such as Five Guys, Einstein Bagels, Chicken Salad Chick, Qdoba and Tavel Eye Care. ZRP acquired the property in 2015 from LNR Property LLC.

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FloridaLeasingNews

MAB American Signs Publix to 48,387-Square-Foot Lease in Wynnehaven Beach, Florida

by Julia Sanders

Wynnehaven Beach, Fla. — MAB American Management LLC has signed Publix to a lease to anchor Wynnehaven Plaza, the company’s newest shopping center development located at the northwest corner of US Highway 98 and Rosewood Drive in Wynnehaven Beach. Wynnehaven Plaza will feature a 48,387-square-foot Publix store along with a 2,100-square-foot Publix Liquor store on 10 acres of land. In addition to Publix, MAB is now preleasing business storefronts in the eight-unit inline building adjacent to Publix, as well as a two-unit freestanding pad site. MAB recently broke ground on …

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Company newsMinnesotaNews

Target to Add More Than 100 Disney Shops to Stores Ahead of Holiday Season

by Julia Sanders

Minneapolis — Target (NYSE: TGT) has announced plans to expand to over 160 Disney shop-in-shop locations by the end of 2021. The Minneapolis-based retailer began opening Disney shops in select stores in 2019. The new stores will offer a collection of Disney items including toys and costumes ahead of the busy holiday shopping season. Target’s fiscal report for the second quarter of 2021 showed that toys have been a growing category for the company, according to CNBC. The news outlet also reports Target plans to join with FAO Schwarz to …

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Taco Bell
DevelopmentMinnesotaNews

Taco Bell to Reinvent Drive-Thru Concept With Futuristic Restaurant in Suburban Minneapolis

by Julia Sanders

Brooklyn Park, Minn. — Taco Bell is building a restaurant with a new drive-thru concept in Brooklyn Park, a suburb of Minneapolis. Construction is underway on the 3,000-square-foot, two-story restaurant. Completion is scheduled for summer 2022. Known as Defy, the new restaurant concept was developed in partnership with Minneapolis-based Vertical Works Inc., a design company that works with quick-serve restaurants, retailers and healthcare tenants. In 2020, Border Foods, one of the largest privately held Taco Bell franchisees in America, enlisted Vertical Works to create a new restaurant design. With Defy, …

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Imperial Plaza
FloridaInvestment salesNews

Matthews Arranges $12.4 Million Sale of Imperial Plaza Shopping Center in Auburndale, Florida

by Julia Sanders

Auburndale, Fla. — Matthews Real Estate Investment Services has arranged the sale of Imperial Plaza, a Winn-Dixie-anchored, 129,807-square-foot shopping center located at 303-413 Havendale Blvd. in Auburndale. Jonah Yulish and Ben Snyder of Matthews Real Estate represented the undisclosed buyer, which purchased the property for $12.4 million. Palomar Group represented the seller, Core Imperial Plaza, in the transaction. For 44 years, Imperial Plaza has been anchored by Winn-Dixie, and the retailer completed a $1 million interior renovation in 2020. About 97 percent occupied, Imperial Plaza is co-anchored by Harbor Freight, …

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NewsWashington DC

NRF: Retail Sales Slowed in July Amid Rising Cases of Delta Variant

by Julia Sanders

Washington, D.C. — The National Retail Federation (NRF) reports retail sales have decreased 1.1 percent in July over the prior month on a seasonally adjusted basis — not including automobile dealers, gas stations and restaurants — and up 9.5 percent unadjusted year-over-year. Retail sales in July were worse than the Dow Jones’ prediction of a 0.3 percent decrease, according to CNBC. The Centers for Disease Control and Prevention reports the delta variant is more than 98.8 percent of all COVID-19 cases currently in the United States. In June, the NRF …

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ArkansasCompany newsNews

Walmart Sees Increase in Second-Quarter Revenue Due to E-Commerce, Grocery Shopping

by Julia Sanders

Bentonville, Ark. — Bentonville, Arkansas-based Walmart Inc. (NYSE: WMT) has seen an increase in revenue during its fiscal second quarter of 2021, which ended on July 31. Walmart’s total revenue was $141 billion, an increase of 2.4 percent year-over-year. According to Refinitiv, the discount retailer’s earnings per share was $1.78 adjusted, while it was expected to be $1.57, and the company’s revenue was $141.05 billion, higher than the $137.17 billion expected. The retailer revised its 2021 forecast and is now predicting its earnings per share to range from $6.20 to …

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