First Midwest Group’s Post

And more to come! 🏗️🛒❤️ "With new stores that opened in 2023 in #McKinneyTX and #AllenTX, H-E-B accounted for a whopping 22% of all retail construction in DFW last year." #iwork4HEB #HEBproud #HEBcareers #HEBNWFD #DFWarea #retailgrowth #TXrealestate (article by Noor Adatia for Dallas Business Journal)

NEW LISTING: Rare opportunity to acquire the fee simple interest (land & building) in a 29,358 SF retail center in the heart of one of Tipton’s County’s premier retail developments, Covington Commons, in Covington, TN. Located between two dominant retailers Walmart Supercenter and Home Depot. This is the only Home Depot & Walmart Supercenter combination within a 30-mile radius & conveniently accessible to over 70,000 plus people, which derives high volume consumer cross-over with increased traffic & exposure. NNN leases with rental increases create long-term upside as they allow the investor to pass-thru the expenses to the tenants. T Priced at only $214 PSF, the subject property is below replacement cost. Clik the link to learn more about the listing: https://lnkd.in/gGxkSg8b #CommercialRealEstate #InvestmentOpportunity #RetailCenter #CovingtonTN #NNNLeases #InvestWisely

Who says shopping centres are dead? Mark Allan & Landsec are betting on a revival. A thought provoking dive into why now could well be the time to buy & invest in ‘prime retail’ assets at the bottom of the market. With shopping centres rediscovering their roles as destinations for a day out (the rise of “competitive socialising” operators in vacant department stores) along with demand for occupiers being the best in years, rents dropping by about a third from their peak & a belief that the glory days of e-commerce have gone for good….now could well be the time to be bold! “There are definitely more opportunities out there for us to deploy capital than we have capital available.” Mark Allan. With the pursuit of of buying a prime retail asset this year & private investment, looking forward to seeing what’s next for Landsec & the retail industry! #retailindustry #insights #investments #shoppingcenters #propertyindustry #retailrealestate #retailtrends https://lnkd.in/ekiYpPGj

This expansion is big for Wawa as they continue to build in their home market as they also continue to expand into new states. Unfortunately while they do this as well as other chains that are going into new markets it is killing the small guys. Not only the franchise owners of 7-Eleven stores that have to compete but even the small business Independent stores. These guys work in their stores open to close to provide for their families. It’s definitely becoming harder and you can see that by the drastic decrease in independent retail accounts since 2020. There’s been 20k+ accounts that have closed in the independent convenience retail channel and still going. While so many say support small business they seldom thing of the c&g channel. A couple of the main drivers of this in my opinion, Covid has driven the need for cleanliness and people feel the chains have a cleaner store. While a good reason but how clean are these chains? Have you checked their health department scores?? I know theirs time I go into a restroom at a chain and they are absolutely horrendous. Now my other opinion, a lot of these independents that don’t have thin “G” in C&G have to face the facts that “one stop shop” is a necessity. People’s time is more valuable than ever. If you don’t mind share my thoughts and help grow my audience.

Big Lots is one of many large-format retailers closing stores, but the retailer's pain turned out to be the landlord’s gain. New tenants are providing landlords with an opportunity to charge higher rents than the previous occupant. Bankruptcy is proving to be an opportunity to deliver rent growth.The retail market saw hundreds of anchor tenant closings over the last year from Bed Bath & Beyond, Buy Buy Baby, Rite Aid and Party City, and the hits have kept coming this year. Macy’s announced it plans to close 150 stores over the next three years. Last year saw an 80% year-over-year surge in retail closings. with more than 4,600 locations shutting their doors. Bankrupt Bed Bath & Beyond shuttered 866 locations, Tuesday Morning closed 463, Rite Aid closed 335 and CVS closed 300. Because the retail construction pipeline has been slow for years, when big-box stores are emptied they are quickly backfilled. Second-generation inventory is where the opportunity is to push rents. There’s so little new product coming onto the market that retailers are increasingly flexible in taking whatever space is available, especially for big-box product #creinvesting #cre #commercialrealestate #Commercialrealestateadviser #commercialproperty #retailrealestate

If you’ve followed Headwall Investments, LLC over the past few years, you've likely seen us discuss the SITE Centers spin-off of Curbline Properties and why it's a pivotal moment for the unanchored convenience retail asset class. Now that it has officially launched, we anticipate this historically underappreciated sub-sector of retail real estate to receive more attention and drive renewed conversations about the institutional quality of these properties. Since COVID, retailers' top priorities have shifted to focus on convenience and accessibility. Businesses across all industries are prioritizing proximity to consumers, maintaining a manageable footprint, and offering seamless accessibility—whether customers shop online or in-store. These evolving dynamics, coupled with a decade of under-supply of new retail properties, have led to historically high occupancy rates in the unanchored convenience retail space, with no signs of slowing. The Headwall team eagerly anticipates continuing to monitor how these dynamics impact our target sector and looks forward to further expanding our portfolio of unanchored convenience properties in major Texas metros like Austin-San Antonio, Dallas-Fort Worth, and Houston. Congratulations to David Lukes and his team at Curbline on a successful spin-off! George Wommack / Sam Peacock / Dillon Hurley / Walt Gober / Michelle Montz Branch / Nick Weinheimer / Sara Houthoofd / Michelle Carrasco-Salas #unanchoredconvenienceretail #stripmalls #TexasCRE

🆕The retail sector in commercial real estate is facing mounting challenges, as several prominent retailers have recently filed for bankruptcy and announced large-scale store closures. How does this wave of store closures and bankruptcies within this segment of the retail sector impact the commercial real estate industry? Find out in our latest blog: https://hubs.li/Q02P_Jxm0 #Trepp #CommercialRealEstate #CRE #CRENews #CREMarket #Retail #Distress

We all look for simple narratives and singular theories in life and business. The reality is almost always more complex and nuanced. Case in point is the continuing narrative around the death of bricks and mortar retail. This week Simon Property Group and Brookfield Properties, joint owners of JCPenney, suggested they may start building ground-up new JC Penney Stores, this follows a triage $1 billion remodelling and repositioning program that they undertook a couple years back. At the close of 2020, Simon and Brookfield outright bought JC Penney for a number for reasons 1) they saw continuing value in the brand 2) they saw strategic value in owning the properties, many of which were a part of the jigsaw of ownerships in their own malls 3) JC Penney failing could and was putting drag on their own brands and businesses. Simon, Brookfield, Kimco Realty Corporation and other retail-developers have had a steady drumbeat of positive investor days and are seeing a strengthening and resurgent market for outdoor and indoor shopping centers. Most every retail developer have over the last few years, gone through their portfolios and divided them into various categories- the big binary being those with potential (and need) for mixed-use redevelopment and those that can continue to be retail-only assets with some repositioning/remodeling. I imagine given a brightening outlook for bricks and mortar retail there will be some reversion to the mean, and some of the properties slated for mixed-use redevelopment may fall back into the retail-only category, or at least some pumping of the brakes on the redevelopment program, particularly given the current costs of financing ground-up development and construction, they may wait for a more positive real estate cycle (see Hines: Riverwalk). Live-work-play, mixed-use redevelopment will continue to be a likely path for many retail centers. And especially as the traditional retail developers have re-tooled themselves as multi-asset developers or/and have formed joint-ventures and collaborations with positive results. But there’s a lot of optionality in what live-work-play means, and there’s complexity on both the asset side and the development side. While the development model is generally portable between properties, most all these redevelopment opportunities have unique circumstances in funding, ownerships, partnerships, catchment demographics, and physical opportunities and constraints. #retail #shoppingmalls #shoppingcenter #mixeduse #liveworkplay

There was a time when alternative department stores like Neighborhood Goods and Showfields were seen as the future. However, both businesses have fallen on hard times. Neighborhood Goods now plans to cease operations after the abrupt closure of another one of its US stores. A more constrained consumer, the financial difficulties of some DTC brands, and high rent costs are all behind the challenges. It was great to speak with CoStar News about the segment and what comes next. #retail #retailnews #departmentstores https://lnkd.in/eqKtFvhj

Join our Retail Openings and Closings (ROC) database where our dedicated research team identifies, validates, and updates numerous new store openings and closings daily! Subscribers gain access to comprehensive lists including all Family Dollar Stores and Dollar Tree Stores locations. Meanwhile, here's a snapshot of confirmed closures, often featuring discounts of up to 50% off, sourced from local media reports. #Retail #RetailNews #OpeningsAndClosings #DollarTree #FamilyDollar #RetailStat #RetailStatROC