Over the past five years, the many major MSAs have seen tremendous growth and diversification within the food and beverage space. But the onset of COVID-19 has cut into consumers’ disposable incomes, essentially shrinking the customer base and creating another
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Miami — Federal Realty Investment Trust, The Comras Co. and Grass River Property have welcomed eight new retailers to their CocoWalk development in Miami. The three retailers that recently opened are vegetarian restaurant Planta Queen and women’s clothing and accessory
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Nashville, Tenn. — Burger Republic has launched its “Defend Heroes” gift card promotion. For every $50 spent on a gift card, the Nashville-based burger chain will donate one meal to a frontline worker or first responder in the Music City.
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Fayetteville, Ga. — Faris Lee has arranged the $7 million sale of Satterfield Marketplace, a 12,277-square-foot strip center in Fayetteville. Tenants at the time of sale included a Chipotle Drive-Thru, My EyeLab and Aspen Dental. The property is situated at
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Plano, Texas — Mooyah Burgers, Fries & Shakes, a Plano-based fast-casual concept, will open 10 new restaurants throughout the metroplex, an expansion that is expected to create about 250 new jobs. All 10 of these locations will feature the brand’s
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Athens, Ga. and New York City — Goldman Sachs Merchant Banking Division has agreed to purchase a “significant stake” in Athens-based Zaxby’s, with plans to grow the quick-service restaurant chain’s footprint into new markets. Terms of the financing were not
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Fullerton, Calif. — Calbay Development has completed the disposition of a single-tenant restaurant building located at 1101 S. Harbor Blvd. in Fullerton. A Los Angeles-based high-net-worth buyer acquired the property for $6.2 million, or $2,067 per square foot. Constructed in
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Batavia. Ill. — JLL Capital Markets has brokered the $2.5 million sale of a Raising Cane’s Chicken Fingers ground lease in Batavia within suburban Chicago. The 3,343-square-foot, single-tenant retail building sits on one acre at 1998 McKee St. Construction of
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Shopping Center Business and Southeast Real Estate Business hosted “Southeast Retail Investment Outlook — Will Retail Investment Activity Bounce Back in 2021?” A panel of retail experts covered topics like the lending atmosphere, impacts of e-commerce and tenant types likely to expand or contract.
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Santa Clara, Calif. — Despite shelter-in-place mandates and temporary closures due to COVID-19, Westfield US has opened 42 stores and restaurants this year at Westfield Valley Fair, a 2.2 million-square-foot Bay Area shopping and lifestyle destination located at 2855 Stevens
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Newport Beach, Calif. — Chipotle Mexican Grill plans to launch a digital restaurant concept dubbed Chipotle Digital Kitchen. Customers will be required to order in advance via the Chipotle app, website or third-party delivery service; there will not be a
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Chicago — McDonald’s Corp. has reported its third-quarter sales rose 4.6 percent year-over-year in the United States. The Chicago-based restaurant chain cited its utilization of delivery, digital orders and drive-thru to recover from its second-quarter sales dip. Globally, sales were
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