"Aldi continues to live up to its reputation as the nation’s fastest-growing grocer."
Aldi estimates 120 new store openings this year, bringing to a total of 2,400 locations in the US.
We have seen other discount stores prohibiting them and LIDL whenever possible.
At ~123,000 sq ft -the size of 2.5 football fields- the main library in McAllen, TX is the largest single story library in the US
It stocks ~375,000 items, has 16 mtg areas, >70 computer labs, a cafe, used book store and an auditorium
And is an #adaptivereuse of a fmr @Walmart
Later this month @KansasCity and the @Chiefs will be hosting the @NFLDraft
The @Chiefs are 1 of 6 @NFL franchises that operate branded fitness centers in their hometowns
The first @ChiefsFit is a 37,000 sf #adaptivereuse of a fmr Michaels craft store in a suburban shopping ctr
Some of the 700+ #ToysRUs stores vacated in #bankruptcy were adapted for other uses
But ~80% of the backfills were by other retailers:
~22% of new $OLLI stores opened since 2018 and ~17% of net new $BURL and #HobbyLobby store openings over the past 5 yrs were in a fmr Toys R Us
In 2018 @Lowes closed 20 US #BigBox retail stores.
Just 1% of #Lowes 1700+ US store base, these 20 were part of a rare Lowes mass store closure event.
But this real estate was not vacant for long.
Virtually all have been re-tenanted.
Though most no longer have a retail use.🧵
Five Below to open 200 stores as it widens location strategy...
"In addition to our traditional focus on suburban power centers, we are now accelerating urban, as well as semi rural stores, and are testing alternative venues" - CEO Joel Anderson
https://t.co/zilescTwpI
Sprouts Farmers Market closing 11 stores, focusing on smaller concept...The closing stores are larger, and in some cases, in “wrong” locations, CEO Jack Sinclair said.
https://t.co/O85Y2q59Sc
Want to know how much transaction activity is falling?
Perhaps the clearest indications come from brokerage revenues. With the last major brokerages reporting year-end results earlier this week, we have a clear (albeit unwelcome) view of activity trends. We reviewed leasing and capital markets (investment sales, mortgage brokerage, etc.) activity and found the following...
Across the board, leasing revenues fell by 14% in 2022 and capital markets revenues fell by 48%. Executives consistently messaged that activity would continue to be slow for at least the first half of 2023 with an expected rebound in late 2023. And cost cutting will likely be a theme for 2023.
#realestatebrokerage #realestate #cre #realestateinvesting #leasing #capitalmarkets #mortgagebrokerage
Amazon Go is closing over 1/4 of their 29 locations.
This comes less than a month after they paused their grocery concept, Amazon Fresh.
So many thought these stores were the future of Retail.