Weekend Recap- June 22 Edition

“Starbucks is decaffeinating its expansion with plans to close 150 U.S. units, three times as many stores as its usual fleet-rationalization rate, reflecting slowing growth and a performance that is undeserving of shareholders, said Kevin Johnson, Starbucks president and CEO, during an Oppenheimer conference yesterday.”

As Business Stalls, Starbucks Triples Store Closure Rate With Plans To Shutter 150 U.S. Locations
Starbucks reins in expansion, ramps up store closings
Starbucks says it will close 150 stores next year
Starbucks to accelerate store closings next year

Below are a few articles that I found interesting this week.

Local:

D-FW investment property buys slowed in the first quarter
Landmark Deep Ellum hotel will fly Kimpton flag
Uptown Dallas office high-rise project will include park and restaurant buildings
DFW Economy Growing at a ‘Blistering Pace’: Federal Reserve
Help From Across The Pond: London And Dallas-Fort Worth Ink Partnership
Maple Avenue building sells for redo in Dallas’ Oak Lawn district
How a strip mall parking lot could become a park in Far North Dallas
One year and $30 million later, Dallas’ Hotel Crescent Court marries old with new
Allen Premium Outlets expansion ends with H&M opening, food truck row and stores relocating

National:

Supreme Court Widens Reach of Sales Taxes in E-Commerce
Dollar General jumps into self-checkout game
Texas Has Six Most Prosperous Cities
Retailer GameStop is in talks with buyout firms after receiving takeover interest
BJ’s Wholesale expects its IPO to price at $15 to $17 a share
Subway hires Bain to help with sales slump
Aldi, Big Lots, and Ashley pick up some Toys ‘R’ Us stores
Rent-A-Center to be acquired for $1.37 billion

What have you been reading this week? Please comment below with any interesting articles or topics you would like to see covered.

Some of these articles may only be available for a limited time and may require registration to view. Rubicon Representation, LLC and Tim Lepore are not affiliated with these organizations.

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Weekend Recap- June 15 Edition

“The Federal Reserve on Wednesday announced that it decided to raise interest rates, and it signaled plans to do so more times than expected this year.

In a two-day meeting, the Federal Open Market Committee voted to lift the target range for the federal funds rate by 25 basis points to between 1.75% and 2%. In a few hours, several banks will respond by raising their prime lending rate, the starting point of borrowing costs for nonmortgage loans like credit cards and auto loans.

This was the seventh rate hike since late 2015, when the Fed first began lifting interest rates from almost zero. It kept borrowing costs that low after the financial crisis to encourage businesses and consumers to spend and grow the economy.”

Fed raises interest rates, expects 2 more hikes this year
Fed Raises Interest Rates and Sees 3.6% Unemployment
Fed hikes rates, points to two more increases by year’s end

Below are a few articles that I found interesting this week.

Local:

$370M Texas 121 Project Begins Summer 2018
Walmart plans a Lower Greenville return, but with a store you wouldn’t expect
Dallas City Council OKs Sending Millions to Red Bird Mall Redevelopment
$1.5 billion Lewisville project will bring office, retail and apartments to S.H. 121
More apartments on the way near Dallas’ Love Field
Frisco project will include huge fitness center, offices and retail
If Dallas wants to revive Deep Ellum’s most historic landmark, we will have to help pay for a new building
Japanese manufacturer closes deal on 318-acre Denton County spread
Dallas on List of Cities for New U.S. Army Command Headquarters
Grapevine lands a second major corporate office deal in one week

National:

Sears expands Auto Center partnership with Amazon to more stores
California company buys Quiznos, but Denver-born sandwich chain to keep its HQ local, new owner says
Kroger to exit one of its markets
The next stock market crash will simply be a warm-up for an even bigger issue facing Main Street
Target launching design-focused home brand to bring better functionality to everyday items
The co-founder of By Chloe, the chain that wants to be the McDonald’s of vegan fast food, just opened a new restaurant. Here’s what it’s like to eat there.

What have you been reading this week? Please comment below with any interesting articles or topics you would like to see covered.

Some of these articles may only be available for a limited time and may require registration to view. Rubicon Representation, LLC and Tim Lepore are not affiliated with these organizations.

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Weekend Recap- June 8 Edition

Another icon closes… Hudson’s Bay has had their struggles in the past few years and they are the latest of the big chains to close an iconic store(s). What I find most interesting about the 5th Ave store closing, is the WeWork acquisition. Shared work space is on the rise and this is just one of the latest buildings to be turned over!

Lord & Taylor closing 10 stores in United States
Richard Baker Starts Tear-Down At HBC, Closing Lord & Taylor’s Flagship And Selling Gilt Groupe
It’s Just About Time For Full-On Panic At J.C. Penney
Hudson’s Bay to close up to 10 Lord & Taylor stores, including Fifth Avenue in New York
Lord & Taylor: WeWork Startup Buys Iconic 5th Ave Building
This Is What Employee Amenities Looked Like In 1919, At Lord & Taylor’s 5th Ave Flagship

Below are a few articles that I found interesting this week.

Local:

Macy’s carving out more of its D-FW space for its off-price Backstage
Frisco’s Wade Park ducks foreclosure for fourth straight month
Automotive giant investing $175 million and hiring hundreds in Grand Prairie
Tech Firm Launches Property-Matching Service For Tenants, Targets Former Xceligent Customers
Hedge fund provides $105 million for new Frisco hotel
Toyota adds to its North Texas presence with a distribution center in Lewisville
Investor snaps up McKinney apartments with $40 million loan
From Phoenix To Frisco: Texas Extends Incentive Dollars To Lure Contractor HQ
What is Project Apollo? For Dallas, it could mean a $50 million investment

National:

Wells Fargo is selling all its branches in three Midwestern states
Bed Bath & Beyond’s new $29-a-year membership is actually a really good deal — it can pay for itself in a single purchase
Fashion Designer Kate Spade Dies At 55
Fred’s Closes Specialty Pharmacy Sale To CVS, Hints At More Deals
McDonald’s to add self-order kiosks to 1,000 stores each quarter
Fashion Brand’s First NYC Location Marshals Data To Enhance The In-Store Experience
3 Retail And CRE Trends To Watch In The Second Half Of 2018
Walmart Takes A Swig Of The $62 Billion Wine Industry With Its Own Bottling
Hawaii, Wisconsin are fastest-growing real estate states
16 Ways Malls Are Filling Space Besides Stores

What have you been reading this week? Please comment below with any interesting articles or topics you would like to see covered.

Some of these articles may only be available for a limited time and may require registration to view. Rubicon Representation, LLC and Tim Lepore are not affiliated with these organizations.

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ICSC RECon 2018 &Weekend Recap May 18

Are you heading to ICSC Recon Las Vegas this year? If so, shoot me an email, TLepore@RubiconRep.com, and let’s sit down!

Amazon is back in the news again this week:

“The online giant visited all 20 finalist locations, a move that indicates the company is closing in on the site of its new headquarters, reported NBC News. There is no indication if list has been narrowed down, or if there is a leading contender, according to the report.

The final 20 contenders are Toronto, Canada; Columbus, Ohio; Indianapolis; Chicago; Denver; Nashville; Los Angeles; Dallas and Austin, Texas; Boston; New York City; Newark, New Jersey; Pittsburgh and Philadelphia; Montgomery County in Maryland; Washington, D.C.; Raleigh, North Carolina; Northern Virginia; Atlanta, and Miami, Florida.”

Amazon has visited all contenders for new HQ

Arlington offered nearly $1 billion in incentives for Amazon HQ2, says it’s no longer in the race

North Texas City Bows Out Of HQ2 Race

Below are a few articles that I found interesting this week.

Local:

Legacy Central Scores Another Large Tenant

Downtown Dallas’ new East Quarter redevelopment kicks off construction

Here’s what developers are planning at Braniff Airway’s old digs at Love Field

Allen’s Stacy Green mixed-use project is attracting an all-star lineup of restaurants

Dallas Is A Retail ‘Buy’ Market, And Out-Of-Towners Are Taking Notice

Howard Hughes Building 8.7M SF Mixed-Use In Allen

True Mixed Use Features Library, Hotel, Retail

$40 million seniors living project coming to McKinney

Luxury hotel on the way in Dallas’ Uptown area near Crescent

New Highway Planned for Collin County

Demand For Urban Walkability Is Unmatched

National:

Toys ‘R’ Us to sell Geoffrey the Giraffe … and sex-toys-r-us.com

Retail sales post second straight monthly gain

Walmart has a new website for wealthy shoppers — here’s what it’s like

GameStop CEO resigns after three months, shares drop

Amazon opens showrooms in model homes to demo, sell smart home products

Fast-growing fashion brand gets $120 million investment

What have you been reading this week? Please comment below with any interesting articles or topics you would like to see covered.

Some of these articles may only be available for a limited time and may require registration to view. Rubicon Representation, LLC and Tim Lepore are not affiliated with these organizations.

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Friday Feels January 18

Amazon Effect part 15… This past week every city/state/province has been talking about the Amazon 20 and where HQ2 will end up. Everyone’s views differ on this subject but here are mine:

Being from Boston and having lived in Manhattan for a few years, I think that NY, NJ, MA are all terrible decisions for different reasons. I understand the logic behind them, however, all 3 are far too overpopulated, the 4 airports (6 if you include CT and RI) between them cannot handle the amount of foot traffic that Amazon will bring/need, and beside the MTA, the other public transits are simply not reliable enough to handle 50k more people.

I won’t bore you with full explanations on why I believe or don’t believe in each location ,but my top 3 in no particular order are:

Dallas, Miami, and Washington D.C.

Dallas-

Pros: 2 airports (1 international); close proximity to Mexico and middle of the country to get anywhere in the US within 5 hours flying time; shipping ports 4-6 hours South; have enough land to build and house all new employees/HQ buildings; have enough people to likely fill the 50k jobs being brought; great proximity to many Corporate HQs in DFW; Trinity River Park

Cons: DART is not reliable and does not reach a large enough target; not far enough East that it would make complete sense; location would likely be Victory Park or Las Colinas which are both not exactly the location Amazon is seeking

Miami-

Pros: Booming city; International airport and large shipping hub; easy flights to East Coast, Islands, and Europe; have enough land/redevelopment that they could easily accomodate

Cons: Metrorail (don’t know too much about it); Hurricanes/Natural Disasters are a large worry down here; Cost of living is high downtown

Washington D.C.-

Pros: 2 large airports and many others close by; great proximity to many Corporate HQs in Alexandria; East Coast access; M-Metro

Cons: Building heights due to the height restriction laws; shipping ports (Potomac is a pain); not much area to build downtown.

 

Below are a few articles that I found interesting this week:

Breaking News: Amazon Narrows HQ2 Search to 20 Markets

Japanese retailer to enter the United States

Kroger is said to consider buying online wholesaler Boxed for up to $500 million

Amazon to pop 23% this year to near $800 billion value on new advertising venture, analyst says

The Energizer Bunny Is Buying Rayovac in a $2 Billion Deal

Why the death of retail jobs may be greatly exaggerated

DFW Retail Occupancy in 2017 Was Second-Highest in 30-plus Years, Weitzman Report Says

Apple is now free to bring home its overseas cash — here’s what it might do with it

‘Entire aisles are empty’: Whole Foods employees reveal why stores are facing a crisis of food shortages

What have you been reading this week? Please comment below with any interesting articles or topics you would like to see covered.

Some of these articles may only be available for a limited time and may require registration to view. Marcus & Millichap and Tim Lepore are not affiliated with these organizations.

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