Sprouts to Open 35 Stores in 2024 The natural and organic grocer is expanding as it is on track to finish 2023 with over 30 store openings and expects another 35 locations to open in 2024. Sprouts is keeping the smaller-format design as they continue to open new stores, with an average size of 23,000 square feet. (Chain Store Age 10/31) [Read]

Publix Going Bigger The popular grocer is opening several new locations this fall, including one in Lakeland that is expected to be 55,000 square feet, larger than the typical new store sizes of 45,000-49,000 square feet. The closing of its GreenWise concept earlier this year could explain why stores may be going bigger as Publix mentioned it would try to bring some of the GreenWise concepts to traditional Publix stores. Publix has opened over 50 stores since 2022. (Progressive Grocer 10/13) [Read]

Trader Joe’s Opens in Sarasota-Bradenton The California-based grocer has renovated a former 12,000-square-foot Party City to make the space their own in The Shoppes at University Town Center. With a Publix, Whole Foods, and Fresh Market all within 1 mile, their location is a center point of grocery traffic. They opened this location on October 26^th. (Business Observer 10/19) [Read]

Lotte Plaza Market Opens in Tampa The Asian grocery store will open its first Tampa location after primarily operating out of Orlando. They currently operate 12 locations throughout Florida, Virginia, and Maryland, but the company has their eyes set on expanding with a goal of opening 50 new locations by 2030. (That’s So Tampa 10/20) [Read]

Macy’s to Open 30 Small-Format Stores The company is ramping up expansion of its off-mall concept that is considerably downsized from their typical mall format. The new store concepts are roughly 1/5^th of a full Macy’s store and currently operates 11 locations since its 2020 debut. Macy’s plans to open up to 30 of these concept stores by fall 2025 as their store opening plans begin fall 2024. (Chain Store Age 10/3) [Read]

Ross Hits 2023 Growth Target The off-price retailer opened 43 Ross Dress for Less stores and 8 DD’s Discounts across 22 states in September and October, officially achieving their growth plan by opening 97 new locations in their fiscal 2023. Looking forward, Ross is remaining confident that they can grow to 2,900 Ross stores and 700 DD’s Discounts over time. (Chain Store Age 10/11) [Read]

Michaels Signs at Causeway Shopping Center The 21,000-square-foot space that was formerly Office Depot prior to their closing in June is now set to become a Michaels location. They have signed a lease with The Sembler Co. to take the space and join Ross, Bealls Outlet, and others at the center. Michaels plans to open the new store by the end of this year. (RE Business Online 10/24) [Read]

Tropical Smoothie Opens 141 Stores Continuing to see growth in 2023, Tropical Smoothie has officially opened 141 new locations as well as signing 166 franchise agreements. They opened 51 stores and signed 77 franchise agreements in Q3 alone as they continue to add to their pipeline for future growth. (Retail & Restaurant Facility Business 10/9) [Read]

International Brands with U.S. Expansion Plans Brands such as Intimissimi, Zara, and On are looking to expand their footprint in the U.S. as their growth plans will begin to take shape in 2024. Foreign retailers are looking to establish themselves further in the U.S. as consumer spending continues to stay resilient and attractive for new businesses. (Chain Store Age 10/2) [Read]

Ford’s Garage Comes to South Florida Plantation Walk is now home to the only Ford’s Garage restaurant in South Florida after they opened earlier this month. Ford’s Garage is a casual burger and beer restaurant featuring Ford Motor Company branding and memorabilia. There are now 25 locations, 19 of which being in Florida. (South Florida Business Journal 10/24) [Read]

Superica Tex-Mex Coming to Florida The Georgia-based tex-mex restaurant is set to open in Orlando next month as the first location in Florida. Superica currently has 11 locations open, six in Georgia, and the rest spread between Nashville, Houston, and North Carolina. (FOX 35 Orlando 10/25) [Read]

Canadian Chain Opens in Miami Vancouver-based restaurant, Cactus Club Café, secured a 10,000-square-foot space to open their eatery on Biscayne Blvd. Cactus Club has 34 locations across Canada and this Miami location will be their first in Florida as they expand. (South Florida Business Journal 10/18) [Read]

Netflix to Open Retail Stores The streaming giant plans to open physical locations called “Netflix House” to bring in more revenue. The stores will feature curated in-store dining and live events as well as featuring merchandise based on some of their popular shows. Netflix plans to open their first 2 locations in the U.S. in 2025, followed by global expansion. (Chain Store Age 10/13) [Read]

Toys R Us Plots Return 6 years after declaring bankruptcy, the big-box toy store is planning to make a return to retail with the goal of opening 24 stores nationwide in 2024. They also have plans to expand in a smaller format in airports and on cruise ships. (Business Insider 9/30) [Read]

Mister O1 Pizzeria Opens in Orlando The South-Florida based pizzeria is opening its first Orlando location this Halloween. Mister O1 is one of the most critically acclaimed pizzerias in the nation, being named “Best Pizzeria in Florida” in 2021 and recommended in Florida’s MICHELIN guide. The company has plans to open two more locations in the region in 2024. (Foodgressing 10/18) [Read]

Scooter’s Coffee Reaches 700 Stores The Nebraska-based coffee chain remains on track to hit its goal of 1,000 locations by the end of 2024 as they have opened over 200 locations in the past 10 months. Scooter’s currently operates in 29 states and has risen to the fifth largest branded coffee chain in the U.S. behind Starbucks, Dunkin’, Panera Bread, and Dutch Bros. (World Coffee Portal 10/2) [Read]

Bad Ass Coffee Plots Growth The Hawaii-founded coffee chain has appointed a new CEO as part of its aggressive expansion plan. Founded in 1989, Bad Ass Coffee has 30 locations currently with plans to open 150 new locations over the next five years. (Chain Store Age 10/3) [Read]

Banks Warn of Future CRE Losses, Office Sector Big banks JPMorgan Chase, Wells Fargo, and Citigroup reported a combined $81B in revenue, resulting in more than $22B in profits as interest rates stay high. But, as commercial real estate borrowers face an increasing number of defaults, banks are citing these loans as potential risks in the future. Office building portfolios specifically are where banks are seeing the most weakness currently and in the future forecast. (Bisnow 10/13) [Read]

Walgreens to Close Stores, Exit Markets As part of the company’s $1B cost-cutting program, they will be closing at least 60 clinic locations and exit 5 markets entirely. Stores also plan to alter store hours based on local conditions while evaluating which locations are least profitable. (Bisnow 10/12) [Read]

Rite Aid Files Chapter 11 After rumors of bankruptcy loomed for so long, the struggling drug store has finally filed for bankruptcy protection. As part of the process, some Rite Aid lenders have agreed to provide $3.45B in financing needed for liquidity. The company will begin to assess its footprint and close underperforming stores, which may range from 400-500 stores. (Chain Store Age 10/16) [Read]

Trail Plaza Sells for $49.3M Longpoint Realty Advisors acquired the 181,558-square-foot center anchored by Fresco Y Mas for $49.3M in a deal brokered by CBRE. MetLife Real Estate Investment purchased the property back in 1990 for $16.6M. (Commercial Property Executive 10/23) [Read]

Retail Sales Rose in September Consumers showed unexpected strength in September despite high interest rates and worries over the economy. Retail sales rose 0.7%, beating the Dow Jones estimate of 0.3%, and showing a 3.8% gain year-over-year. Electronic and appliances stores, as well as clothing retailers, were the only sectors that showed a decline. (CNBC 10/17) [Read]

5 Chain Restaurant Trends Investors and restaurant owners continue to look for concepts and trends that they believe will generate a return in the next 5-10 years. One of the top concepts includes eatertainment venues such as pickleball concepts with eateries and bowling eatertainment concept Pinstripes. Drive thrus and experiential donut shops are rising the ranks of trending concepts as well. (Restaurant Business 9/29) [Read]