California Centers

SEP 2018

California Centers Magazine serves retailers, developers, shopping center owners, investment sales brokers and tenant representation firms throughout the state of California.

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CORPORATE ACTIONS 44 California Centers Magazine | September 2018 the company will close its offices in Denver and New York City, and will transfer some corporate business to its location in Ohio. The Newport Beach site will encompass its operations, business development, marketing, communications, finance, supply chain, food safety, technology and human resources components. NEW PRODUCTS & SERVICES France Media has launched Ancillary Retail, a specialized industry publication providing relevant news, strategies and practical tips to help developers and retailers incubate, grow and sustain successful businesses in alternative and traditional commercial real estate venues. Dunkin' Donuts plans to develop approximately 50 NextGen stores across the U.S. through 2019. Various franchisees have expressed their intent to convert their existing restaurants to the new design as well. In an effort to eliminate 1 billion plastic straws per year from the disposal cycle, Starbucks has begun using strawless lids on its beverages sold chain-wide as of July. OPENINGS & CLOSINGS Dunkin' Donuts has projected opening 1,000 new units in the coming two years, as part of a long term goal of having 18,000 U.S. restaurants. Its strategy involves pursuing non- traditional locations outside the typical four-wall storefront format. Among venues utilized will be resort properties, casinos, travel centers, hospitals, sports stadiums and college campuses. Non traditional is viewed as a key component in spreading the brands value across new and existing markets, continually finding fresh ways to fit Dunkin' Donuts into consumer's everyday lives. Bob's Discount Furniture is poised to open five more stores in Southern California through September 2018, bringing its California store count to 12 (and to more than 100 for the chain overall). Planet Fitness opened a total of 44 new gyms in the second quarter ended June 30, four of which were corporate stores (versus franchised). The company now boasts 12.1 million members, up 16 percent from a year ago. Forevermark has signed a lease agreement to open its first U.S. retail store at Broadway Plaza in Walnut Creek. The diamond brand is owned by The De Beers Group of Companies. It has committed to a 10 year lease for the approximately 490 sq. ft. space. Sprouts Farmers Market plans to open 13 stores during the third quarter of 2018 (bringing its total new openings count to 16 for the first half of the year). Among the targeted regions are Pennsylvania, Washington, Florida, Maryland, Nevada, Oklahoma and North Carolina. Stores slated to be opened in California include sites in the cities of Lodi, Sacramento and Vacaville. Stated Chief Development Officer, Ted Frumkin, "We're pleased with the customer response to Sprouts' unique combination of health and value." Maui Tacos a fast casual Mexican restaurant concept founded by Pacific Rim Chef Mark Ellman in 1993, has announced plans to expand nationwide. Six new openings are planned in 2018, followed by 12 more projected to be added in 2019. In addition to adding units in Hawaii, the concept is targeting the mainland states of Washington, Oregon, California, Arizona, Colorado, Florida, Georgia, South and North Carolina, and Tennessee. Bluemercury Stores, a cosmetics brand acquired by Macy's in 2015, will open approximately 60 new stand alone stores through 2019, which is consistent with the chain's current rate of expansion. Wayback Burgers projected opening seven additional new restaurants in the third quarter, to include a unit in Tulare. Orangetheory Fitness recently celebrated the opening of its 1,000 th studio, in Portland, Oregon (marking the third to be opened in this city). The location promotes the company's unique trifecta method involving science, coaching, and technology. Shake Shack Inc. has postponed some openings that it had previously announced would occur in the first quarter to the third and fourth quarter. The majority will be opening in December, marking a big end-of-year push for the chain. The delays are attributed to issues with permitting and construction. The company expects to reach 122 to 125 domestic company operated locations by the end of the year. Blink Fitness and Seritage Growth Properties have announced a deal to expand Blink Fitness' number of stores. The multi-property lease agreement will bring 17 corporate and franchisee- owned gyms to major metropolitan areas across ten states and is part of the company's aggressive strategic growth strategy. Stated CEO Todd Magazine, "Our partnership with Seritage Growth Properties is one of the many exciting real estate initiatives driving our rapid national expansion." Blink currently has more than 70 company-owned locations across New York, New Jersey, Pennsylvania and California, and projects having more than 85 locations open and operating by the end of 2018. Burlington is set to open the first of seven new Southern California locations it has planned to open through the end of this year. The 52,200 sq. ft. location will open in Carson in October. Potbelly Sandwich Shop is planning to open its first California location in Irvine in early 2019 at Walnut Village Center. The concept is noted for its toasty warm sandwiches, hand- dipped milkshakes and live music. The Irvine location is the first to be

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