Thursday, January 24, 2019

Accelerating Retail News

Benderson Development has acquired a 600,000 s/f portfolio of 15 former Toys ‘R’ Us and Babies ‘R’ Us stores throughout the country. The sales price was not disclosed. Locations include five stores in Florida, two in Oregon and California, and one each in North Carolina, Massachusetts, Pennsylvania, Colorado, Connecticut and New York…Floyd’s 99 Barbershop plans to increase its current franchise presence from 32 to 350 franchises over the next five years…Fast casual seafood chain Captain D’s opened its newest franchised location in Wytheville, VA, marking the brand’s 23rd restaurant in the state…Jersey Mike’s franchiser Dan Markel signed an agreement with The Hummus & Pita Co. to develop up to 100 units across California. The Hummus & Pita Co., based in New York City, operates 5 stores in NYC, CT, and NJ...Ahold Delhaize largest US brand Stop & Shop will acquire King Kullen Grocery Co. The agreement includes King Kullen’s 32 supermarkets and 5 Wild by Nature stores. The acquisition is expected to close during the first quarter of 2019, Terms were not disclosed... Wegmans will make its New York City debut this fall, with a 74,000 s/f store at the Brooklyn Navy Yard. Wegmans is also expanding into North Carolina this fall, with a 104,000 s/f store in Raleigh, plans to open 4 additional NC stores in the future, and will enter Virginia this year with a location in Virginia Beach. Wegmans currently operates 98 stores in 6 states... Ocean State Job Lot is moving in to several shuttered Toys “R” Us locations. The discount retailer has bought or leased 7 former toy stores in Massachusetts, New Hampshire, New York and Pennsylvania. Ocean State Job Lot currently has 133 stores in New England, New York and New Jersey…Sprouts Farmers Market plans to open 9 new stores in the second quarter of 2019. Overall, the chain expects to open about 30 new stores in 2019, the same as in 2018. The retailer currently operates 320 stores in 19 states...Giant Food Stores debuted its new store format, Giant Heirloom Market, this month with a 9,500 s/f store in Philadelphia, the first of several locations planned for the city...Ollie’s bought 12 former Toys “R” Us sites and is leasing another six. In November, Ollie’s opened its 300th store at an old Toys “R” Us location in Maryland.  It plans to open up to 650 new stores around the country.

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