Whitaker Leonhardt’s Post

#MarketUpdate ❗❗ The table deteriorated again for sellers since last week, but once again only slightly. The average change in CMI over the past month is +0.1%, down from +0.4%. There is a widening gap between the top and the bottom of the table. We have 7 cities showing an increase in their Cromford® Market Index over the past month, while 10 have declined. Mesa and Avondale are primarily responsible for the positive average, aided by Maricopa and Tempe. There are no other cities with percentage increases over 3%. Goodyear and Buckeye are once again leading the downward movement, but they have been joined by Gilbert. Buckeye is now well adrift at the bottom. Chandler has lost momentum over the last couple of weeks, but is so far ahead at the top of the table that it has no serious rival at the moment. 10 out of 17 cities are still seller's markets. We have 3 cities that are balanced and 4 are buyer's markets. #Market #Update #ArizonaMarket #Arizona #Scottsdale #Gillbert #Chandler #Tempe #Mesa #Glendale #Sellers #Demand #Supply

Murphy USA Inc. plans to add 30 to 35 new and remodeled convenience stores in 2024. With three new stores opened in Q1, including a QuickChek location, and more underway, these expansions are expected to significantly boost EBITDA growth. Construction is accelerating with 22 raze-and-rebuild projects and nine new-to-industry stores, setting the stage for a robust opening pace into 2025. Food service remains a key focus for Murphy USA, with President and CEO Andrew Clyde emphasizing the company’s strong positioning through value pricing amidst rising food costs. Upcoming innovative offers and digital enhancements are expected to further strengthen their market presence. The company remains committed to its core innovation, growth, and productivity initiatives, particularly in food, beverage, and center store opportunities, with benefits anticipated in the second half of the year. Reach out to us for more C-store news. Jake Stammen 📞 (972) 755-5209 ✉️ [email protected] Salim Bhaidani 📞 (817) 932-6136 ✉️[email protected] 👉 Click link for details: https://lnkd.in/g4WkpC_4 #NNN #retail #realestate #investment #investing #commercialrealestate #property #passiveincome #cre #investor #realestateinvesting #commercialproperty #netlease #retailrealestate #murphyusa #cstore

Excellent offering Deno Bistolarides #nnn #nn #listing #pricereduced #newprice #valueadd #realestate #realestateinvesting #RealEstateInvestment #InvestmentOpportunity #PropertyForSale #bloomington #indiana #indianapolis #indianarealestate #indianapolisrealestate #encore #encorereis #encorecommercialrealestate #encorerealestateinvestmentservices

Is your local red lobster on the latest closing list? At least 99 locations of the stalwart seafood chain are being auctioned off, raising questions about its long-term viability. The closures cover restaurants throughout Texas, including two in the Dallas area: 10290 E. Technology Blvd. and 9069 Vantage Point Dr. Other closures in Texas include three in the greater Houston area (North Houston, Pasadena, and Lake Jackson,), as well as one in San Antonio. Neal Sherman, founder and CEO of TAGeX Brands, announced on LinkedIn that he is leading the closure of over 50 Red Lobster locations, with their equipment to be auctioned off. A dedicated webpage for these liquidations lists closure locations across the U.S., including Denver, Indianapolis, Rochester, Sacramento, San Antonio, and San Diego. According to Restaurant Business Magazine, 99 locations are set to close. These closures represent approximately 15% of Red Lobster’s 700 locations, though it remains the largest seafood restaurant chain in the U.S. The company has been struggling with significant debt, unfavorable lease terms, executive turnover, and strategic missteps, including a costly all-you-can-eat-shrimp promotion last fall. Last month, CNBC reported that Red Lobster was seeking a buyer to avoid bankruptcy, but no buyer has emerged. 👉 Click link for details: https://lnkd.in/gW-fpW7f #NNN #retail #realestate #investment #investing #commercialrealestate #property #passiveincome #cre #investor #realestateinvesting #commercialproperty #netlease #retailrealestate #redlobster

Retail Today / Retail Renaissance: After numerous requests for a Buc-ee’s update, ok so it was just one. Here it comes, Buc-ee’s is getting ready to open store #50! #bucees Not just any store but there largest store ever at 75,000 sq ft!!! This location in Luling, Texas is the World’s Largest Convenience Store. #conveniencestores This travel center will boost everything you love about Buc-ee’s: Fudge, BBQ, Pastries, Beaver Nuggets, even Beaver Apparel and Home Decor. 😂😂😂 #travelcenter Then you add the World’s Cleanest Restrooms and 120 gas pumps, now you have the most exciting retail concept in the country. With a rabid cult following of shoppers. Who plan their travel around Buc-ee's, Ltd. locations. Buc-ee's, Ltd. #shoppingexperience #exiciting #emotional #entertaining #compelling #merchandising I started talking about them a few years ago, their growth has been amazing. Now spreading their wings headed towards the West in Arizona, Colorado, the Midwest in Wisconsin, etc… #stores “COMING SOON” to a highway near you. The rumor their new store in Ocala, Florida will be even bigger! #retail #retailtrends #retailindustry #TopRetailExperts

Prosper Welcomes Major Grocers: A Catalyst for Economic Growth The town of Prosper is on the brink of an economic surge with the arrival of major grocery chains, including Target, H-E-B, and Costco. This development not only enhances the retail landscape but also promises a significant boost in revenue, paving the way for comprehensive community and infrastructure development. Key Highlights: New Openings: Target has already opened its doors in Prosper, and the much-anticipated H-E-B and Costco are on their way, with Costco's construction starting in March and completion expected within the year. Revenue Impact: The arrival of these major retailers is set to increase the town's revenue significantly, allowing for expanded community services, infrastructure projects, and staff enhancement, as highlighted by Mary Ann Moon, Executive Director of Prosper Economic Development Corporation. Sustainable Growth: Prosper is committed to sustainable growth that aligns with the town's vision, ensuring that the influx of new businesses and revenue will be managed effectively to meet the increasing demand for services and maintain a business-friendly environment. Diverse Development: Beyond big-name retailers, Prosper's economic development includes enhancing The Gates of Prosper with new dining and entertainment options, indicating a well-rounded approach to town growth. The introduction of major grocers in Prosper marks a significant milestone in the town's economic development. It's a clear indicator of the area's growing appeal and potential for further business expansion. For those in the retail and development sectors, Prosper's evolving landscape presents exciting opportunities for investment and growth. https://lnkd.in/g_Sq-cDt #landdevelopment #CRE #dfwrealestate

For all of you unfamiliar with #retail real estate.. I know #apartments have been the hot girl on the block We focus primarily on #shoppingcenters. Think of #grocery anchored centers or centers where you see tenants like TJMaxx, Ross Stores, Inc., Homegoods, PetSmart, DICK'S Sporting Goods, etc. You also find a lot of high traffic driving out parcels: Chick-fil-A Restaurants, In-N-Out Burger, Verizon, AT&T, Chipotle Mexican Grill, Aspen Dental and others I know just about everyone seeing this has been to one of these centers in the last 2 weeks..so yes they are performing very well. #realestate #retail #grocerystore #commercialrealestate #traffic #discount #drivethru #qsr #deal #investments #money #inflation #syndication

We are officially in the market on our strip center (called "Midtown Crossing South") located in Plantation, FL (due west of Ft. Lauderdale). Here's why I like this deal.... - What's not to like when a deal is in Florida! All of the obvious advantages of being in the Sunshine State - growing population base, income tax free, etc. - This strip sits on a road that has 51,000+ cars per day pass through. So it's going to get a ton of visibility - not to mention access is very good to the site. Plus, a brand new WaWa under development next door. - Great lineup - Starbucks is your anchor. Has 2 other restaurant concepts that are local/regional. We understand Starbucks is killing it here (look at that backed up drive-through lane!) - Strong leases in place - on average provide a 2.77% rent growth annually. Better than what you can get in most retail/restaurant deals. We think this is either a great 1031 play or a pride of ownership asset for investors who love to own #CRE in Florida. Matt Spangenberg & Michael Zimmerman are running point on marketing this asset. I'd get with them quick on this one! OM Here - https://lnkd.in/g5Qh3-QB

Route to market In the ongoing debate about the "future of the high street" it's great to see Grainger Market in Newcastle, seemingly alive and thriving. As a way of encouraging small businesses to trade local at affordable rates, it seems like markets are as relevant now as ever. #markets #shoplocal #highstreet #localeconomy #smallbusiness #Newcastle #retail #parking

Convenience store giant, Wawa, Inc., will officially break ground on its first convenience store location in Georgia this month. The company will break ground about a year and a half after announcing their plan to open 20 stores in the state this year. The announcement comes about a week after receiving approval from the Planning Board in Pooler, a town about 12 miles west of downtown Savannah. The site will include 16 fueling spaces and a 6,100 SF convenience store. Wawa’s rapid expansion plan is in full swing, with new locations proposed in Alabama, Indiana, Kentucky, North Carolina, Ohio, and Tennessee. The new stores outline the company’s goal to reach 1,800 locations by 2030. Wawa currently operates over 1,040 stores across the tri-state area, and Maryland, Virginia, Florida, and Washington D.C. If you are a buyer or seller of investment retail real estate, market knowledge of which retailers are in a rapid growth phase is crucial to maximize your investment dollars. NNN Trends is your go-to resource for updated cap rates (both nationally and regionally), comparable sales, and consumer traffic for top locations across the U.S. Check it out here: https://bit.ly/3wPf4K6 #CRE #commercialrealestate #wawa #retailrealestate #crenews