Shawn Massey, CCIM, SCLS

Weekly CRE and Retail Article Round-Up – November 14, 2012

I hope you enjoy this week’s articles!

Critiquing CRE Websites

Green Girl to Create Indoor Vertical Farm

Real Estate Valuation – How to Use the Income Approach to Value

Brokering in a Broken Landscape

Now May be The Best Opportunity in a Generation to Buy Real Estate

Want to Negotiate the Best Rental Rate?

Pizza Hut to see if chicken concept has legs

LEED Losing Its Appeal, Survey Finds

Cell Site Lease Buyouts – Telecom Company Offering you a Buyout?

Shopping center returns to Carriage Crossing roots

Terranomics Retail   Newsline
Week Ending   November 11, 2012

Of course, the biggest news of   this past week was the election and President Obama’s surprisingly strong   win. His electoral vote count actually surpassed the one predicted by Dr.   Larry Sabato, which I shared with our readers group last week. That being   said, to the handful of people who felt obliged to send me nasty e-mails   regarding that forecast, the reason I shared it is because Dr. Sabato is   considered the most renown and accurate prognosticator in the election   business and he has sterling non-partisan credentials. But this is one of the   reasons I am glad the election is over. There is nothing worse than having to   discuss politics in my business. No matter how objective you try to be, you   are bound to offend someone. Unfortunately, policy concerns have been the big   economic story and so there has been no avoiding it. Unfortunately, this   hasn’t changed. The looming fiscal cliff debate is literally going to   determine whether we have a recession or not in 2013, and the real story   behind this next big political battle is which Republican party shows up.   Will moderates prevail, vastly improving the odds of some sort of compromise?   Or will the Tea Party stand their ground?

My personal expectation is that this debate will be contentious, but nowhere   near as ugly as the debt ceiling fiasco. There is huge political pressure on   both sides to compromise and it also helps that big business and Wall Street   is applying pressure to both sides that some sort of deal will be made, even   if only to kick the can down the road a couple of years. And I also fully   expect the legislative and executive branches of government to sink back into   gridlock and dysfunction for the better part of the next two years. But,   assuming the fiscal cliff issue is dealt with, I can live with that because   there are plenty of other economic indicators pointing towards not only a   gradually improving 2013, but a potentially robust 2014. We’re talking about   the potential of returning to 4% quarterly GDP growth. Just watch, the key   theme of next year will be “Next Year!”

In the meantime, I have heard a lot of people talking about the massive cost   of this election. An estimated $6 billion was spent, with little actually   changing but a few House and Senate seats. But keep in perspective, Americans   spent $8 billion on Halloween this year.

In other news, the Christmas Creep continues. Simon Properties has announced   that many of their malls will be opening at just after midnight on Black   Friday (following 4 AM opening times in most of their locations last year).   Walmart also moved opening time up a couple of hours to 8 PM on Thanksgiving,   compared to 10 PM last year. I still contend that within a couple of years we   will finally see the malls open on Thanksgiving Day. And let’s hope someone   has the courage to do it soon, rather than continuing to engage in this   nickel and dime process of edging up their openings by just a few hours each   year.

This might sound like I am just being insensitive to retail workers, but, as   someone who worked in retail sales and management for nearly a decade, I   really don’t think so. I think that the current practice of midnight openings   is what is cruel. Keep this in mind—if you are asking a retail worker to show   up for work at midnight on Black Friday, you are not only putting a daytime   worker in the position of having to work a grueling graveyard shift that they   are not accustomed to, but you have already ruined their Thanksgiving   holiday. Their holiday will now be one of not being able to fully relax while   waiting around to go to work, and/or trying to force themselves to get some   pre-shift sleep in the late afternoon.

Remember that retail employees who are working at midnight on Black Friday   aren’t currently getting any extra wages or perks unless they happen to work   for a generous employer. For most of them, the current arrangement is one   that leaves them with not much of a holiday and the unpleasantness of working   a graveyard shift for nothing extra. Once the malls move to Thanksgiving Day   openings (and they eventually will), at least those workers will get a   minimum of an extra day of pay (from the paid holiday), or even more—the   smart retailers will further sweeten the pot for volunteers to work this   shift with either double-time pay or comp time. And they won’t be stuck with   trying to adjust to just one errant graveyard shift. But it won’t be long.

– Garrick H. Brown

Terranomics Top FiveConsumer   Confidence Jumps; Thomsen Reuters/UofM Index Hits 84.9—Highest Level Since   July 2007
Chain Store Age   11.09

2012:   The Year Retail Bounced Back?
Globe Street 11.09

How Obama’s Reelection Will Affect the Retail Industry
National Retail Federation 11.07

A New Age for Women
QSR 11.05

Election winner could reap rewards of strengthening economy
Bloomberg 11.04

The Big Picture

First   Data: Card spending growth robust in October
Chain Store   Age 11.09

Walmart   ‘guarantees’ customers its best Black Friday ever
Retailing Today   11.08

Wal-Mart to offer Black Friday deals earlier on Thanksgiving
Los Angeles Times   11.08

Customer   Growth Partners forecasts sluggish 2.8% rise in holiday sales; apparel and   accessories strongest categories
Chain Store Age 11.08

Stores   go from cavernous to cozy
Green Bay   Press-Gazette (Wis.) 11.07

Hurricane   Sandy reduces retail sales by nearly 20%
Chain Store   Age 11.07

Report:   Restaurant sales flat, traffic down in October
Restaurant   News 11.07

Simon   Property to open Mass. retail centers early on Black Friday 11.06

Report: Retail jobs increase with higher spending
USA Today 11.04

Retailers cut costs with digital receipts
USA Today 11.03

Retailer Roundup

Microsoft store set to open   11.08

Spanx   opens first freestanding store in McLean, VA
Chain Store Age   11.07

Cokesbury to close stores, move sales online
Houston Chronicle 11.06

Under Armour jumps into retail game with branded stores
Upstart 11.06

Vitamin   Shoppe Q3 profit rises 37%; on track to open 57 stores in 2013
Chain Store   Age 11.06

Aaron’s   opens five stores in five states
Chain Store   Age 11.06

Batteries Plus owner   charged up for expansion
Sacramento Business Journal 11.05

Grocery Grab Bag

Whole Foods Breaks Ground in Mississippi
Supermarket News 11.08

Wal-Mart moves to dramatically expand self-checkout lanes at   stores
Memphis   Commercial Appeal 11.05

The   Restaurant Review

Jamba Inc. Reveals 2013 U.S. Growth Initiatives
Nation’s   Restaurant News 11.05

One to Watch: Freddy’s Frozen Custard & Steakburgers
QSR 11.05

Famous Dave’s Finds Its Place in Fast Casual
QSR 11.05

Culver’s Opens Shop for 470th Time
QSR 11.05

America’s Taco Shop Plans National Growth
Nation’s   Restaurant News 11.05

Starbucks to Accelerate Growth in 2013
Nation’s Restaurant   News 11.05

M&A Mania
TravelCenters of America Continues Acquisition Spree
Convenience   Store News 11.06

REIT/Investment OutlookRetail   Properties of America: Operating FFO Up; Small NOI Increase
Globe Street 11.09

Doing Well, Doing Good—and Doing Green

Jeff Yates, Parter at Irwin Partners, on Central Arkansas Commercial Real Estate

The Great Debate: Which is Better? On-site or Off-site Property Management?

How To Guard Against “Superior Forces” In Our Leases, Mortgages, And Other Contracts; No, This Isn’t Science Fiction. It’s Real Estate Law

Measuring the value of International Paper as the company considers leaving Memphis

Now that the city is in charge, ideas are pouring out for the future of Beale Street

U.S. Retail Market Update


Customer Growth Partners forecasts sluggish 2.8% rise in holiday sales; apparel and accessories strongest categories

NOVEMBER 8, 2012 New York — Holiday sales will reach a record $556.8 billion, a sluggish 2.8% increase from 2011, according to retail consultancy Customer Growth Partners’ 11th annual Holiday Forecast.

“The forecast is less than half of 2011’s 5.8% growth rate, and represents a further deceleration from this year’s already tepid 3.7% back-to-school season growth,” said Craig R. Johnson, president, Customer Growth Partners, New Canaan, Conn. CGP’s forecast is below consensus estimates calling for nearly 4% growth, as represented by the National Retail Federation’s 4.1% growth forecast.

Hurricane Sandy reduces retail sales by nearly 20%

NOVEMBER 7, 2012 New York — Hurricane Sandy is being held responsible for reducing U.S. retail sales in the Mid-Atlantic and Northeast region by about $4 billion last week, according to MasterCard Advisors SpendingPulse.

According to the report, the region, which accounts for about 24% of retail sales nationwide, typically generates $18.7 billion in sales for that particular week ended Saturday, the Associated Press reported. But revenue came in at about $15 billion. (The figures exclude auto sales.)

U.S. Retailers Expect Best Holiday Season Since 2007

NOVEMBER 5, 2012 Leading U.S. retailers expect a 3.7% increase in holiday same-store sales, according to a new survey by BDO USA.

“While we haven’t returned to pre-recession levels of optimism, retailers are gearing up for what looks to be a promising holiday season,” said Doug Hart, partner in the retail and consumer product practice at BDO. “Still, consumers have more choices than ever, and retailers are looking to avoid showrooming by curating a mix of exclusive and top-selling products to get consumers in their door or on their site.”

Jobs report: U.S. employers add 171,000 jobs

NOVEMBER 3 , 2012 U.S. employers added 171,000 jobs in October and employment gains for the previous two months were revised upward, the Department of Labor announced Friday in its last report before Tuesday’s election.

Despite the additions, the nation’s unemployment rate edged up to 7.9 percent in October from 7.8 percent the previous month – mainly because more people began looking for work.

Apparel Stores

Saks’s Off 5th to open in new center in Livermore, Calif.

NOVEMBER 7, 2012 New York — Saks Inc.’s Saks Fifth Avenue Off 5th announced that it plans to open its doors in Livermore, Calif., on Nov. 8.

The new 28,132-sq.-ft. store is located in Paragon Outlets, a new outlet facility located 36 miles east of the heart of San Francisco, which will open in conjunction with Saks Fifth Avenue Off 5th on the same day.

Cache loss widens in Q3

NOVEMBER 6, 2012 New York — Cache reported Tuesday a loss of $6.4 million for the quarter ended Sept. 29, widened from a loss of $1.8 million in the year-ago period.

Sales dropped 5.9% to $45.8 million, and same-store sales declined 2.9%.

Bebe stores swings to loss in Q1

NOVEMBER 2, 2012 Brisbane, Calif. — Bebe stores reported Friday a net loss of $2.6 million for the quarter ended Sept. 29, compared with net income of $2.4 million for the year-ago period.

Sales slipped 7.3% to $117.1 million from $126.3 million, and same-store sales dropped 8.7%.

Sales up at Gap Inc., expects strong earnings boost for Q3

NOVEMBER 2, 2012  SAN FRANCISCO — Gap Inc.appears to be on the upswing, reporting positive same-store sales across all of its divisions for both the third quarter and October.

Net sales for the third quarter increased 8% to $3.86 billion compared with $3.59 billion for the third quarter last year. The company’s third quarter comparable sales were up 65 compared with a 5% decrease in the third quarter last year. In addition, net sales for October were $1.22 billion compared with net sales of $1.14 billion for the same period last year. The company’s comparable sales for October 2012 were up 4% compared with a 6% decrease in October 2011.

Department Stores

Macy’s headed into holidays on heels of strong Q3

NOVEMBER 7, 2012 CINCINNATI — Macy’s Inc. is well positioned for strong holiday season as it continue to report quarterly sales and earnings growth.

For its third quarter ended Oct. 27, the company reported earnings of 36 cents per diluted share, compared with 32 cents per diluted share in last year’s third quarter. Operating income totaled $325 million or 5.4% of sales for the quarter, compared with operating income of $291 million or 5% of sales for the same period last year. For the first three quarters of 2012, Macy’s Inc.’s operating income totaled $1.270 billion or 6.9% of sales, compared with operating income of $1.127 billion or 6.4% of sales for the same period last year.

Macy’s stores to open midnight on Black Friday

NOVEMBER 6, 2012 NEW YORK — For the second year in a row, Macy’s stores nationwide will open at midnight on Black Friday, Friday, Nov. 23.

A new Black Friday feature on Macy’s mobile app will help customers browse and shop for specials specific to their local store.

Nordstrom’s racks up increase in retail sales for October

NOVEMBER 1, 2012 Nordstrom Inc. reported a 9.8 percent increase in same-store sales for the four-week period ended Oct. 27.

Seattle-based Nordstrom (NYSE: JWN) reported preliminary total retail sales of $835 million for October, compared to sales of $749 million in October 2011. During the month, Nordstrom opened a new Nordstrom Rack store in the Alamo Quarry Market in San Antonio, the company’s third in the city.

Discount Stores

Kohl’s profit inches up 2%; expects higher holiday sales

NOVEMBER 8, 2012 Menomonee Falls, Wis. — Kohl’s Corp. on Thursday reported stronger-than-expected third quarter profit of $215 million, up from $211 million in the year-ago quarter. But the chain gave a profit forecast that missed Wall Street’s expectations.

Sales increased 2.6% to $4.49 billion from $4.38 billion in the year-ago period. Same-store sales rose 1.1%. Kohl’s said that it expects same-store sales, will be up 3%  to 4%  in the quarter that includes the Christmas shopping period, a big improvement over last year’s holiday period, when same-store sales fell 2.1%.

Walmart grocery-format store opens in Elk Grove

NOVEMBER 2, 2012 Wal-Mart Stores Inc. opened its latest Walmart Neighborhood Market today at 8455 Elk Grove Blvd. And get this — the new 38,500-square-foot store is in the same shopping center as the existing, traditional format Walmart store. Both are open around the clock.

The nation’s largest retailer (NYSE: WMT) is positioning the Walmart Neighborhood Market as a convenient store where consumers can pick up groceries. The new store employs 75 people.

Target’s October same-store sales at low end of forecast

NOVEMBER 1, 2012 Target Corp. announced Thursday that its same-store sales increased 2.4 percent in October, near the low end of its guidance.

The Minneapolis-based retailer’s total sales climbed 3 percent to $4.98 billion for the four-week period that ended Oct. 27. For the full third quarter, comparable-store sales were up 2.9 percent, in line with the company’s forecast. It will announce its full quarterly results on Nov. 14.

Drug Stores

Vitamin Shoppe Q3 profit rises 37%; on track to open 57 stores in 2013

NOVEMBER 6, 2012 North Bergen, N.J. — Vitamin Shoppe Inc. reported Tuesday that net income for the third quarter leaped 36.8% to $16.3 million, from $11.9 million last year.

Revenue rose 14.4% to $239 million, missing Wall Street’s expectations of $241.8 million in revenue. Same-store sales surged 9.6%, marking the company’s 28th consecutive quarter of positive comps.

CVS Caremark execs bullish after strong 3Q

NOVEMBER 6, 2012 WOONSOCKET, R.I. — Coming off a strong third quarter, CVS Caremark executives expressed confidence that the company’s integrated retail/pharmacy benefit manager model and the unique programs and services it is able to deliver customers and clients are “making the difference,” president and CEO Larry Merlo told analysts during a Tuesday morning earnings call.

The results have been strong revenue growth on both sides of the enterprise, Merlo noted, with sales in its pharmacy services business up 22.2% to $18.1 billion for the third quarter ended Sept. 30, and sales in its stores up 5.5% to $15.5 billion. As a result of over-performing its expectations in the quarter — and also its increased optimism that it would retain a greater percentage than originally expected of Express Scripts patients in the aftermath of the now-settled, Walgreens-ESI dispute — Merlo told analysts the company raised and narrowed its earnings guidance for the year, from $3.38 per share to $3.41.

Walgreens sales fall 2.1% in October

NOVEMBER 5, 2012 Deerfield, Ill. — Walgreens on Monday reported October sales of $6 billion, down 2.1% compared with October 2011. The results include the brunt of the impact from Hurricane Sandy — at the peak of the storm, approximately 750 of 1,400 stores in the impacted area were closed, Walgreens said. Nearly all of those locations have since reopened. Total same-store sales were down 5.9%.

Electronics Stores

Hhgregg profit drops in Q2

NOVEMBER 2, 2012 Indianapolis — Hhgregg reported Friday that net income for the quarter ended Sept. 30 dropped to $3.8 million from $6 million last year. Sales dipped 5% to $587.6 million and same-store sales dropped 8.8%.

According to CEO Dennis May, the electronics and appliances retailer is testing new merchandise and, in the third quarter, will roll out furniture and exercise equipment to all stores. He also said the current fiscal 2013 outlook calls for 20 new store openings from a previous range of 20-22.

Grocery Stores

Whole Foods to open Clearwater location

NOVEMBER 8, 2012 Whole Foods Market announced that it will open a new store in Clearwater. The announcement came on the company’s Facebook page Wednesday but did not offer a location or date for the new store, according to

The high-end supermarket that specializes in organic foods and other items has locations in Tampa and Sarasota and recently opened another location in Carrollwood.

Whole Food Q4 profit jumps nearly 50%

NOVEMBER 8, 2012 Austin, Texas — Whole Foods Market Inc. said Wednesday that its fiscal fourth-quarter profit increased nearly 50% on strong sales. The grocer’s company’s net income rose to $112.7 million for the period ended Sept. 30, up from $75.5 million a year ago.

Revenue rose nearly 24% to $2.91 billion, with an extra week in the most recent quarter. Same-store sales were up nearly 9%.

Supervalu cuts 700 jobs at Shaw’s

NOVEMBER 6, 2012 West Bridgewater, Mass. — Supervalu said Monday it has cut about 700 store-level positions at the company’s Shaw’s and Star Market stores in New England.

“As we continue to look at the best ways to achieve success, we recognized an opportunity to align our work force to more effectively serve the marketplace by scheduling team members more appropriately to serve customers at the times they shop,” said Mike Stigers, president of Shaw’s. “These changes will help us to compete more effectively in a rapidly changing marketplace.”

Harris Teeter swings to profit in Q4

NOVEMBER 2, 2012  Matthews, N.C. — Harris Teeter Supermarkets reported Friday a profit of $22.8 million in its fourth quarter, compared with a loss of $8.9 million last year.

Sales edged up 3.7% to $1.14 billion, and same-store sales increased 3.01%.

Home Improvement & Office Products

Office Depot to reduce size of half its stores

NOVEMBER 6, 2012 Boca Raton-based Office Depot on Tuesday announced a plan to downsize or relocate 500 stores —- nearly half its U.S. stores — over the next five years, on a conference call with analysts Tuesday. The office-supply retailer also said it would close 10 to 20 stores in 2013.

Aaron’s opens five stores in five states

NOVEMBER 6, 2012 Atlanta — Aaron’s said Tuesday it is opening five of its lease-to-own stores in the Midwest, south and on the East Coast.

From mid October to early November, Aaron’s stores have opened in Delaware, Ohio; Ionia, Mich.; Franklin, Ky.; Indianola, Miss., and Towson, Md.

Office Depot swings to loss in Q3, but results beat Street

NOVEMBER 6, 2012 Boca Raton, Fla. — Office Depot Inc. reported Tuesday a loss of $61.9 million for the third quarter, compared with net income of $100.9 million in the same period last year. Results still edged analysts’ expectations.

Revenue dropped 5.1% to $2.69 billion, missing Wall Street’s expected $2.89 billion revenue mark.

Williams-Sonoma makes Quebec debut with new store design

NOVEMBER 2, 2012 San Francisco — Williams-Sonoma said Friday that it will open its first store in Quebec — and its eighth in Canada — which will showcase a new design for the brand.

Opening on Saturday at Carrefour Laval in Laval, Quebec, the new store incorporates added interactive features, a new layout and several terminals where customers can complete purchases throughout the store.


Wendy’s aims to accelerate remodels after 3Q sales lift

NOVEMBER 8, 2012 The Wendy’s Co. reported a large net loss in the third quarter as it paid down debt, but investments in its “Image Activation” remodeling program have the brand confident it will achieve its growth targets for 2012 and accelerate those plans next year.

For the Sept. 30-ended quarter, the Dublin, Ohio-based company’s net loss widened considerably to $26.2 million, or negative 7 cents per share, compared with a net loss of $4 million, or negative 1 cent per share, a year earlier.

Buffalo Wild Wings creates 100 new jobs with new downtown location

NOVEMBER 06, 2012 When the new Buffalo Wild Wings opens in a few weeks in downtown Detroit it will create 100 jobs with the potential of bringing even more to Detroit.

Diversified Restaurant Holdings, which owns the Buffalo Wild Wings and Bagger Dave’s franchises, began renovating the Odd Fellows building at the edge of Greektown early this year. The first two stories of the 4-story building at Monroe and Randolph streets will house a Buffalo Wild Wings restaurant and bar. That space will be able to seat 380 people. The whole operation will employ 100 people. The Buffalo Wild Wings is set to open on Dec. 8 and hiring staff has already begun in earnest.

Existing Franchisee Acquires 120 Unit Kentucky Fried Chicken Portfolio from Yum Brands, Inc.

NOVEMBER 6, 2012, Dallas, TX,  Mitra QSR KNE, LLC and its capital partner, Chalak Growth Capital Fund, LLC, recently closed on a large acquisition of KFC/Taco Bell units in the Northeast part of the United States for an undisclosed amount. The transaction includes 78 KFC units, 39 KFC/Taco Bell co-branded units, and 3 KFC/Long John Silver’s co-branded units. The 120 unit transaction spreads across 6 states (Virginia, Maryland, Delaware, Pennsylvania, West Virginia, and New Jersey).

Famous Dave’s Signs Deals for 21 New Units

NOVEMBER 05, 2012, MINNEAPOLIS, -Famous Dave’s, (NASDAQ: DAVE), leveraging its range of build-out and service models designed to fit virtually any real estate space, announces its largest deal signed this year. The Minneapolis-based, 185 –unit award-winning barbecue and restaurant concept continues to accelerate growth as it recently signed deals for 16 units in San Diego/Los Angeles/Ventura County and Sacramento, two units in Riverside, CA and Montebello, CA, and one unit each in Lansing, MI, Independence, MO and Yakima, WA.

.“We continue to generate growth of our award-winning brand,” said John Gilbert, CEO of Famous Dave’s. “With this signing, we are getting a great head-start on our goal of adding 50 new locations over the next two years. With even more deals on the table, Famous Dave’s growth potential looks outstanding.”

Starbucks to accelerate growth in 2013

NOVEMBER 2, 2012, Starbucks Corp. officials announced plans to accelerate growth in 2013 after reporting healthy increases in traffic around the globe — except in Europe — during its fourth quarter. Schultz said the 18,066-unit chain, which is already in 61 countries, was on the way to reaching 20,000 units on six continents by 2014. He added that Starbucks is well positioned to navigate challenges ahead, despite a fragile economic environment, by appealing to consumers from “all walks of life.”

Starbucks also raised its earnings-per-share projection for 2013 to a range of $2.06 to $2.15, up from earlier projections of $2.04 to $2.14. The company also expects a benefit of $100 million, or 9 cents per share, in 2013 from declining commodity costs, mostly coffee.

Burger King to remodel 60 Central Florida restaurants

NOVEMBER 1, 2012 Miami-based Burger King is planning to remodel about 60 of its restaurants in Central Florida over the next few years, the Orlando Sentinel reports.

The fast-food chain has already remodeled 10 local restaurants and has plans to renovate a total of 2,500 across the country.

Dollar Stores, Warehouse Club & Other Retailers

Dick’s Sporting Goods announces three new store opening

NOVEMBER 8, 2012 New York — Dick’s Sporting Goods Inc. opened three stores, including one relocated store, on Nov. 7. Of the two new stores, one was located at Stoneridge Village, Jefferson City, Mo.; and the other at Spokane Valley Mall, Spokane, Wash. The retailer relocated its N. Springboro Pike store to Dayton Mall, Dayton, Ohio.

In October, Dick’s celebrated the opening of 17 stores throughout the United States.

UltraStar to open 165,000-square-foot dining and entertainment center

NOVEMBER 6, 2012, As more movie theater companies get into the foodservice business, UltraStar Cinemas is set to open one of the largest dining and entertainment centers in the nation on Nov. 15.

Vista, Calif.-based UltraStar will open a “multi-tainment center” at Ak-Chin Circle in Maricopa, Ariz., covering 165,000 square feet. The new center, which is located next to Harrah’s Ak-Chin Casino, will offer restaurants, bars and bowling alleys, as well as cinema.

7-Eleven Fast Tracking North Carolina

NOVEMBER 6, 2012, WILKESBORO, N.C. — 7-Eleven Inc.–continuing its re-entry into North Carolina begun earlier this year with the acquisition of 55 Sam’s Mart convenience stores in the greater Charlotte market–is acquiring 12 Fast Track c-stores in the Tar Heel State from FAW Cos.

The news comes as a franchisee has put a portfolio of 11 7-Eleven leases up for sale in Michigan for an asking price of approximately $18.9 million, a Raymond James/CSP Daily News Flash reported on Tuesday.

Bass Pro Shop Coming to Tallahassee

NOVEMBER 05, 2012 Tallahassee, FL — Bass Pro Shops, America’s most popular outdoor store, will open a 70,000 square foot Bass Pro Shops Outpost® store in Tallahassee, FL. The new store will be located in the Fallschase Development at the intersection of Mahan and Buck Lake Roads in Tallahassee and is targeted to open in 2013.

In addition to being the world’s leading supplier of premium fishing tackle, Bass Pro Shops is also America’s leading supplier of hunting gear and the top retailer of Remington and Winchester guns and ammo as well as the top retailer of Bowtech and PSE archery equipment.

Monro to buy Tire Barn Warehouse

NOVEMBER 05, 2012, Tire Barn Warehouse, headquartered in Anderson, Ind., plans to sell the majority of company assets to Monro Muffler Brake Inc. According to the Modern Tire Dealer 100 list, Tire Barn is the 34th largest independent tire dealer chain in the U.S. with 32 stores across Illinois, Indiana and Tennessee . Monro, headquartered in Rochester, N.Y., is fourth with 306 across the U.S.

Monro plans to keep the Tire Barn name. Tire Barn’s closing is scheduled for Nov. 19 and there will be “no change in basic store operations and very little change in store personnel,” according to a statement by Chris Jones, Tire Barn president and CEO.

7-Eleven Closes TETCO Acquisition

NOVEMBER 2, 2012, DALLAS — 7-Eleven Inc. has announced that it has acquired the retail and wholesale dealer assets of San Antonio-based TETCO Inc., closing a deal that was announced Aug. 14. The assets include 163 company-operated convenience stores in Utah and the Dallas-Fort Worth, Austin and San Antonio areas of Texas plus fuel distribution to TETCO’s wholesale-dealers.

The company did not disclose the terms of the deal.

Al Taf

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An App That Tries to Predict the Future of Cities

Critiquing CRE Websites Part 2

How Do You Determine Commercial Real Estate Value?

Completion of Veterans Parkway paves way for industrial development in Millington

Expert: Retail’s Future is in Industrial

Rue21: Gearing Up For Further Long-Term Growth

Kenny Smith: From offensive lineman to real estate king (Richard Lucas column)

I hope you will check out future weekly commentary at   If you enjoy the commentary please subscribe online.



Shawn Massey, CCIM, SCLS is a partner with The Shopping Center Group a 3rd party retail real estate advisory firm in their Memphis office, an adjunct professor in the graduate real estate program at The University of Memphis and a co-founder and Chairman of the Board for the Memphis Business Academy charter schools (K-12th grade) in the Frayser area of Memphis.  

For all your retail real estate needs (tenant representation, landlord representation and property, investment & land sales) I hope that you will choose The Shopping Center Group and me to represent you and your business.  We understand that representation is a privilege and that you have a choice!

The opinions expressed in this post are entirely my own.  They should not be considered the opinion of The Shopping Center Group, LLC in which I am associated.




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