Pattison Food Group’s Post

Retail Landscape Evolving: Jacksons Food Stores and Others Expand Footprint Jacksons Food Stores is making a strategic expansion into Washington's Tri-Cities, marking a significant step in their growth. This is part of a larger acquisition by PacWest Energy, signaling a strong commitment to community development. Additionally, The Spinx Company is enhancing its presence in South Carolina, Enmarket is collaborating with Bethesda Academy in Georgia for a new store, TravelCenters of America is expanding in North Dakota, and Stewart’s Shops has opened a new location in New York. These expansions reflect the dynamic nature of the retail industry and its role in driving economic growth in various communities. Keep up with the latest in retail expansion: https://hubs.li/Q02cZxl90 #RetailGrowth #JacksonsFoodStores #EconomicDevelopment #IndustryExpansion

Our client, TXB, was highlighted by the Wall Street Journal this past weekend in an article that discussed food being an appetizing opportunity for convenience stores. Industry wide, food-service sales account for about a quarter of in-store sales for convenience stores but well over a third of in-store gross profits (both figures are industry averages). The food strategy for most convenience store chains is hands-off; prepared foods are brought in and heated up in the store. Chains that prepare and sell freshly made food – like TXB and Casey’s – have the potential for better loyalty and margins. This strategy of having an on-site kitchen can be complicated and requires additional investment. 1912 Ventures knows firsthand, as we have represented multiple restaurant chains with their commercial real estate, including two dedicated commercial kitchen projects (with no retail service) over the past 18 months. A shift to electric vehicles should increase the food business for convenience stores if it means customers spend more time charging their vehicles. TXB has deliberately placed EV charging stations near their outdoor dining facilities. My favorite quote in the article came from Darren Rebelez (Casey’s CEO), who said: “You might fill up a tank once a week, but you eat three times a day.” As an aside, 1912 Ventures originally helped Bucky’s Convenience Stores expand into Texas and open five locations prior to the entire chain being sold as a portfolio to Casey’s. That sale included 94 retail stores, 79 dealer locations, and several real estate parcels for building new stores in the future. https://lnkd.in/gY9ehKwC #commercialrealestate #cre #retailrealestate #retailtechnology #realestatedevelopment #fuel #restaurants #foodservice

Demand for restaurant/retail space is booming, with brokers scrambling to find new locations for a surge of new concepts. What's driving the change? - Post-pandemic rebound: Consumers are eager to dine out and shop in person again. - Limited supply: New construction has slowed, leaving a shortage of available space. - Shifting consumer habits: Smaller format stores with drive-thru or pick-up options are in high demand. To learn more: https://buff.ly/4cZSj5G #NAIIsaac #CRE #CRENews #Retail #Restaurant #Brokers #Investors

It's incredible to see The Giant Company's innovative approach at its flagship location in Philadelphia for addressing challenges such as shrink, inflation, and workforce difficulties in the grocery industry. 🌐 The focus on value messaging combined with signals about quality is a notable strategy. The emphasis on helping customers save money, like the display featuring discounted products, is a great way to connect with shoppers. 💰 The commitment to innovation is evident, from the self-service wine-tasting station to the food hall with local restaurant outposts. The hub-and-spoke model for supplying prepared foods to other locations without restaurant outposts is a clever approach. 🍷🍲 #Innovation #GroceryIndustry #RetailTrends

Publix Super Markets continues to grow and goes bigger and bolder with a new store prototype in some locations in the Southeast. The grocer just opened its third location under the new experience-focused design — a 55,701-square-foot store with an olive bar, outdoor seating, a Publix Pours area with wine, beer and kombucha on tap and other features to address customers' desire to enjoy more upscale features while also having a more traditional grocery shopping experience. Grocery Dive reports that the grocer has been investing more in its stores and its capital spending totaled $2.3 billion in 2023 — a nearly 28% increase over the nearly $1.8 billion it spent in 2022. Publix opened 33 supermarkets, including nine replacements, remodeled 79 locations and closed four during the nine months that ended September 30, 2023. They currently have 1,365 stores across Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina, Virginia and Kentucky. #groceryretail #grocery #gbtrealty #buildingvalue #growth https://lnkd.in/eEES_Tsa

Demand for restaurant and retail space is booming, with brokers scrambling to find new locations for a surge of new concepts. What's driving the change? - Post-pandemic rebound: Consumers are eager to dine out and shop in person again. - Limited supply: New construction has slowed, leaving a shortage of available space. - Shifting consumer habits: Smaller format stores with drive-thru or pick-up options are in high demand. To learn more: https://bit.ly/4duxoIj #CRE #CRENews #Retail #Restaurant #Brokers #Investors

Demand for restaurant and retail space is booming, with brokers scrambling to find new locations for a surge of new concepts. What's driving the change? - Post-pandemic rebound: Consumers are eager to dine out and shop in person again. - Limited supply: New construction has slowed, leaving a shortage of available space. - Shifting consumer habits: Smaller format stores with drive-thru or pick-up options are in high demand. To learn more: https://bit.ly/4duxoIj #CRE #CRENews #Retail #Restaurant #Brokers #Investors

https://lnkd.in/g5r6KYZa Key Takeaways #Retail and #dining foot traffic, as measured by the Placer 100 Index, continued to trend upwards in June 2024, with year–over-year (YoY) visits up 6.8% – the highest they’ve been this year. #Grocery chains were major winners in June 2024, featuring prominently in the YoY rankings for both visits and visits per location.  One grocery favorite that ranked high for both overall visits and visits per location in June 2024 was Texas cult favorite H-E-B. H-E-B’s YoY visit growth appears to have been driven, in part, by an increase in short visits to the chain – likely bolstered by the chain’s well-known prepared food offerings. #radio #radioadvertising #radioworks

Despite a general downturn in the dining industry, buffets are witnessing an unexpected surge in popularity as consumers seek value-for-money options. According to fintech firm Finda's "July National Dining Industry Report," while overall sales in the domestic dining sector have decreased compared to last year, buffets and fast food have seen increases of 11.4% and 1.75%, respectively. Ashley Queens, a prominent value buffet, has notably inspired the term "Ase-gwon," indicating neighborhoods near their locations. Offering a variety of foods for ₩10,000 ($7.43) on weekdays and ₩20,000 ($14.87) on weekends, Ashley Queens has generated significant consumer interest. The newly opened "Ashley Queens Starfield Market at Jukjeon" served over 900 customers on its first day, achieving the second-highest sales among all Ashley Queens stores. E-Land Eats, the company behind Ashley Queens, reported lines forming as early as 6 AM, with limited quantity items selling out in minutes. The company's expansion strategy includes opening 3-4 new stores monthly, aiming for 120 locations by year-end and 150 by 2025, including in rural areas. Earlier, E-Land Eats had closed some Ashley locations to stabilize the brand amidst a challenging dining industry, consolidating them into the premium concept of Ashley Queens. The Ashley Queens Gangnam store reopened on July 12 after being closed due to the COVID-19 pandemic, which had drastically reduced dining out demand and caused buffets to be seen as vulnerable to infection. Similarly, CJ Foodville's VIPS has expanded with three new locations this year, achieving over 10,000 visitors within a month at the Lotte Mall Eunpyeong. Despite salad bar prices ranging from ₩30,000 to ₩40,000 ($22.3 to $29.74), the value-for-money proposition remains strong. Industry forecasts suggest that this trend will continue, with consumers increasingly favoring value-for-money buffets. Finda reported that July's average transaction amount for buffets was ₩72,333 ($53.78), a 5.85% decrease from the previous month. Source: The Korea Economic Daily #BuffetBoom #ValueDining #EconomicTimes #DiningIndustry #FoodTrends #AshleyQueens #Buffet #KoreanBuffet

Demand for restaurant and retail space is booming, with brokers scrambling to find new locations for a surge of new concepts. What's driving the change? - Post-pandemic rebound: Consumers are eager to dine out and shop in person again. - Limited supply: New construction has slowed, leaving a shortage of available space. - Shifting consumer habits: Smaller format stores with drive-thru or pick-up options are in high demand. To learn more: https://1l.ink/8TZ5LWS #CRE #CRENews #Retail #Restaurant #Brokers #Investors