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Week Ending February 12th, 2022

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Brown's Rants

Lockehouse Advisory and Consulting: Retail 2022 Webinar

We will be back next week with more detailed analysis on the news of the week and pertinent issues, though in this edition there are some great articles about the outside impact that inflation (worst in 40 years) and stock market volatility is having on American consumer sentiment (virtually every labor market indicator is at its best in 40 years and Americans still have over $5 trillion more in their bank accounts than before the pandemic).  Also, as has been the case throughout the first six weeks of 2022, retail expansion and growth announcements are far outpacing those for closures and consolidations. This is something I have not seen for well over ten years and reflects a massive post-pandemic shift.

That said, today I am including a link to an online seminar that I gave in conjunction with my friends at the tax advisory firm EisnerAmper a week or so ago about the state of the retail real estate market and my outlook for the coming year. If you have time, I promise it will be an hour well spent, that hopefully you will find not just deeply informative but entertaining as well. In the days since I gave this webinar a few of the growth concepts I mentioned have actually upped their growth plans for the year.

Retail On Demand Webinar: Bust to Boom—The Retail Resurgence

Presentations like these are just one of the many services my consulting team at Lockehouse offers. I frequently speak to groups, ranging from trade organizations to institutional investors, landlords, developers, and retailers about the state of the market and shape these presentations for our clients to address their strategic concerns, point out opportunities and risks, as well as do deep dives on their competitive set to meld the macro and micro trends critical for their teams to understand in pursuing successful real estate strategies. This, as well as site selection and feasibility guidance, creating deep dive analysis of trade areas, competitive sectors and helping to cultivate local market strategies are just a few of the ways that my team and I assist our clients.

Enjoy the webinar. See you next week.

Garrick

Omicron’s Impact on January Consumer Spending Modest
Chain Store Age 2/11

What is it About Amazon’s Retail Profitability We Just Don’t Get
Retail Wire 2/11

Our Economy is Doing Well, but Many Americans Refuse to Believe it
Washington Post 2/10

Consumer Sentiment Falls Sharply
Chain Store Age 2/11

Robust Retail Sales Buoy National Landlords, Fueling Optimism for 2022
Costar 2/10

Retail Returns
Richmond Magazine 2/9

Apparel Brands Rally Holds by a Thread
Wall Street Journal 2/9

Seven Retail Predictions for 2022
Hoffman Strategy Group 2/8

CalPERS and First Washington Near Over $3 Billion Deal to Acquire Donahue Schreiber
BNN Bloomberg 2/8

US Store Owners Worried About Shoplifting—What Can be Done?
The Guardian 2/6

Economic Headlines stories of the week

The Evolution of Shoplifting in San Francisco
San Francisco Standard 2/11

Valentines Day to Bring Shoppers Back as Omicron Subsides
Costar 2/11

What Democrats and Republicans Get Wrong About inflation
Five Thirty Eight 2/10

Prices Climbed 7.5% in January; the Fastest Inflation Since 1982
New York Times 2/10

eCommerce Grows 14.2% in 2021
digitalcommerce360 210

Minimum Wage Tracker
Economic Policy Institute 2/9

Entrepreneurship Surged During the Pandemic: Some Tips for Taking the Plunge
Tampa Bay Business Journal 2/9

1.42 Billion Chicken Wings to be Consumed Super Bowl Weekend
Food Institute 2/9

Looking Back: A Great Holiday Season for Consumer Spending
Robin Report 2/8

Food Companies Rely More on Temp Workers as Labor Shortages Persist
Wall Street Journal 2/7

What Retail Has in Store for 2022
Retail Dive 2/9

Top Economist Predicts Stocks Will Remain Volatile and Fed Rate Hikes Could Hammer Economy
Business Insider 2/8

These are the US Cities Most Expensive to Live In
Business Insider 2/8

Goodbye Cheap Money
Los Angeles Times 2/7

Property Trends stories of the week

Retail West Coast Year in Review and Look Ahead
The Registry 2/11

New Owners of Sikes Senter (Wichita Falls, TX) Look to the Future
News Channel 6 2/11

Tanforan Mall in San Bruno Closing; Transforming to Biotech Campus
SFist.com 2/11

New Circle City Mall Owners Plan Major Revamp
Indianapolis Business Journal 2/11

Allen Matkins UCLA Survey: Optimism Across all CRE Sectors in CA
Allen Matkins 2/10

The Stutz, Historic Auto Factory, to be Redeveloped with more Retail and Restaurants
Indianapolis Star 2/10

Sixty Years Ago, Winter Park’s Mall Was a Revelation. A Revamp Looks to Make it the Mall of the Future Again
Orlando Weekly 2/10

What Happens to a Shopping Center After it Dies?
Clever 2/9

Retail Leasing in San Diego Regains its Footing
Costar 2/9

Denver Launches Rent-Free, Pop-Up Program to Fill Vacant Downtown Stores
Denver Business Journal 2/8

Mall of America Adds 17th Tenant Since Beginning of the Year
Chain Store Age 2/7

Struggling Columbus SC Area Mall, Richland Mall, Could be Redeveloped as Mixed-Use
The State 2/7

Upstart Brands Coming to Bethesda Row
Patch 2/7

Former Neiman Marcus Store at Hudson Yards to be Converted to Office Space
Dallas Morning News 2/5

Retail Headlines stories of the week

San Francisco Losing Another Walgreens Store Months After Retail Crime Shuttered Five Locations
Fox News 2/11

ThirdLove Opens LA Store
WWD 2/11

Lego Opening DC Area Discovery Store
Costar 2/11

Rothy’s Opening First Atlanta Store
What Now Atlanta 2/11

CBD Kratom Opens 50th Unit
Benzinga 2/11

Purchase by Home Depot Puts Retailer on Track for Second New Seattle Store in 12 Months
Costar 2/11

Sheetz Heading to Richmond, VA Suburb
Richmond BizSense 2/10

Activist Investors Suggest That Kohl’s Met with Amazon
Retail Dive 2/9

Peloton Cuts Jobs, Names New CEO
TotalRetail 2/9

AutoZone Opening Mega Store in Austin
REBusinessOnline 2/9

AMC Theaters Takes Over ArcLight Leases in Key Markets
Costar 2/9

IKEA Begins Construction in Downtown San Francisco
Chain Store Age 2/9

Peloton Cuts Jobs, Names New CEO
TotalRetail 2/9

Gold’s Gym Closes at Whitehall Mall (Whitehall, PA)
McCall 2/9

Hobby Lobby Opening First NYC Store
Chain Store Age 2/9

Costco Coming to Sacramento Area–Natomas
KCRW 2/9

Lucid Opening Houston Showroom
Houston Chronicle 2/8

Room & Board Opening in Austin
Furniture Today 2/8

Ollie’s Bargain Markets Opening Two KC Area Locations
Kansas City Business Journal 2/8

Alamo Drafthouse Broadens National Theater Expansion Plans
Costar 2/7

Grand Rapids’ Shuttered 28th Street Mall to Become B2 Outlet Store
Woodtv.com 2/7

Nike & Amazon Both Reportedly Considering Peloton Acquisition
Retail Dive 2/7

Wren Kitchens Cooking up Long Island Locations
The Real Deal 2/7

Marshalls Opening in Amherst NY
Buffalo Business First 2/7

Planet Fitness Expands in Sacramento
Sacramento Business Journal 2/7

Amazon 4 Star to Open in Grand Rapids Mall
WZZM13.com 2/7

Dollar General Bringing PopShelf to Texas
Longview News-Journal 2/6

Gap Opening Four Stores at its SF HQ
San Francisco Business Times 2/6

Amazon Opening First Physical Store (4 Star) in Louisville; First of three in Kentucky
WLKY 2/5

Grocery Headlines stories of the week

Sprouts Opening New Store in Manassas VA
Costar 2/11

Grocers Set to Lose Momentum as Pandemic Fades
Grocery Dive 2/10

Aldi Makes Louisiana Debut
Biz New Orleans 2/10

Sprouts Opening Three Miami Area Stores
South Florida Business Journal 2/10

Save A Lot Completes Transition to Wholesale Model
Chain Store Age 2/10

Grocery Prices Rise Sharply as Inflation Hits 40 Year High
Grocery Dive 2/10

Aldi Opening 150 Stores This Year
Crain’s Chicago Business 2/9

Lidl Signs Deal to Open Second DC Store
Washington Business Journal 2/9

Lowe’s to Open One-of-a-Kind Food Store in Charlotte Area
Charlotte Observer 2/8

Grocery Employment Ticks Down as Job Market Booms
Grocery Dive 2/7

Restaurant News stories of the week

Los Angeles Legend, Porto’s Bakery, Opening New Location in the Valley
Los Angeles Daily News 2/12

Summit Coffee Eyes Triangle for Expansion
Triangle Business Journal 2/10

Here is Why Fast Casuals Flourished During the Pandemic
NACS 2/10

New Food Hall, The Well, Coming to Downtown Colorado Springs
The Gazette 2/10

Teriyaki Madness Sells 100 Units in 2021
Fast Casual 2/10

Hummus + Pita Co Inks 3 Unit Deal
Fast Casual 2/10

Jeni’s Splendid Ice Cream Opening in Dallas
Culture Map Dallas 2/10

Juice It Up Launches in Colton CA
Fast Casual 2/10

Peach Cobbler Factory Adds More Locations in South Carolina
Restaurant News 2/9

Taziki’s Builds Momentum for 2022 Growth
Restaurant News 2/9

Why the Pandemic Only Made Fast Casual Stronger
QSR 2/9

Zaxby’s Opens in Chattanooga TN
Restaurant News 2/9

Raleigh Group Ready to Open Knightdale Food Hall: Craften
Triangle Business Journal 2/9

Chipotle Raises Target for North American Locations to 7,000
Chain Store Age 2/9

Chipotle Heading to Manchester, VA
Richmond Times-Dispatch 2/8

How the Bar is Bringing Consumers Back to Fast Casual
QSR 2/9

Focus Brands to Add More Concepts to Portfolio Following Record Year
Forbes 2/8

Starbird Popping Up in SoCal
Fast Casual 2/8

Shaq’s Big Chicken Checking out Arizona
Fast Casual 2/8

Dunkin Buys 31 Restaurants Back From Franchisees and Plans to Keep Them
Restaurant Business 2/8

Raising Cane’s CEO on Orlando Expansion
Orlando Sentinel 2/8

Chill-N Nitrogen: Cool Concept Ready for Franchising
QSRWeb 2/8

Next Level Burger Levels Up Growth Plans
FastCasual.com 2/7

Krispy Kreme Returns to Indianapolis
Indianapolis Business Journal 2/7

Shake Shack Opens Drive Thru Location in GA
Atlanta Eater 2/7

Long Awaited Astoria Food Hall Set to Open
Patch 2/7

Pizza My Heart Ramps up Bay Area Growth
Restaurant News 2/7

Arby’s Parent Ramping up Rusty Taco Growth
QSR 2/7

Feasting On Leftovers: Restaurants Snap up Fancy Digs Abandoned During the Pandemic
The Real Deal 2/7

Jack in the Box Coming to Fairfield CA
What Now San Francisco 2/5

Qdoba Coming to Walnut Creek CA?
What Now San Francisco 2/5

REITs, Landlord & Development stories of the week

Kimco Buys Out Partner’s Stake in California Shopping Centers
The Real Deal 2/11

Simon, TIAA Refinance Major Mall in Orlando Signaling Tourism Rebound
Costar 2/10

Brookfield CEO Says Pricing is Incredible for Office and Retail
Costar 2/10

Kimco Touts Leasing, Occupancy Gains Helped by Retail Shift Towards Last Mile Fulfillment
Costar 2/10

Bridger Properties Buys Historic Marietta Properties, Food Hall
Atlanta Journal Constitution 2/10

Urstadt Biddle Buys Shelton CT Shopping Center for $33.6M
REBusinessOnline 2/9

InvenTrust Acquires Two Austin Shopping Centers for $189.3M
REBusinessOnline 2/8

Simon Cites strong Rebound Year
Costar 2/7

ecommerce, omnichannel, retail tech stories of the week

Timberlands Launches Gamified Immersive Experience
Chain Store Age 2/11

Gartner: A Quarter of Consumers will Use the Metaverse Daily by 2026
Retail Dive 2/10

Walmart’s Inventory Bots Flopped, Will Sam’s Succeed?
Retail Wire 2/10

Port Congestion Continues; 40 Ships Waiting to Dock in LA
Chain Store Age 2/9

Logistics Companies Accelerating Hiring
Food Institute 2/7

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