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Palomar Press Briefing | September 1, 2021

 



 INDUSTRY NEWS

September 1, 2021

 

 

PALOMAR GROUP ARRANGES $36.5M SALE OF GREENBRIER SQUARE | CHESAPEAKE, VA

Second time’s a charm… When Steve Collins, David Rivers, and Ryan McArdle first sold Greenbrier Square to Principal in 2017 the record was broken for largest price point on a grocery anchored sale in the Hampton Roads market.

PALOMAR GROUP BROKERS $2.3M SALE OF STARBUCKS – OCCUPIED PROPERTY IN EVANS, GEORGIA

The Palomar Group has brokered the $.23 million sale of a Starbucks-occupied retail property located at 3104 William Few Parkway in Evans. The buyer was an investor based in Aiken, S.C., and the seller was an investor based in Augusta.

CAP RATES FOR SINGLE-TENANT QSR PROPERTIES REACH HISTORIC LOW

In the second quarter, national asking cap rates in the single-tenant quick-service restaurant (QSR) sector decreased to a new historic low of 5.26 percent, according to the 2021 Net Lease QSR Market Report by The Boulder Group.

THE RUNNING LIST OF MAJOR RETAIL DEALS IN 2021

Last year, several retailers inked deals in the form of partnerships, acquisitions and initial public offerings, among other things. Retail Ecommerce Ventures snapped up the IPs of bankrupt retailers, including Pier 1, Modell’s and Stein Mart. VF Corp acquired cult-favorite streetwear label Supreme for $2.1 billion.

HERE’RE THE GROCERS THAT PULLED OFF A ‘COVID LIFT’

Grocers like Lidl and Aldi continued their massive expansion across the US in spite of the COVID pandemic- but it was Southern stalwart Winn-Dixie that truly ‘redefined’ itself in the midst of the crisis, according to a new analysis from Placer.ai. The grocer’s “focus on value, being a one-stop-shop, and proximity to audiences drove significant growth during COVID.”

MORE RETAIL WORKERS ARE QUITTING THAN EVER, BUT MORE STORES ARE OPENING THAN EXPECTED

On a gray, dreary February day, Marguerite Adzick looked out on ice caps floating off a desolate beach along the Jersey Shore. The coronavirus was surging. And she had just told her investors she was about to sign a lease on her first brick-and-mortar clothing store.

WALMART MOVES INTO INSTACART TURF WITH DELIVERY SERVICE

The newest retail delivery platform needs no introduction. Walmart is taking on the likes of Instacart and DoorDash with the launch of a new line of business called Walmart GoLocal, which delivers goods to customers of other businesses.

2021 ON TRACK TO HAVE LEAST AMOUNT OF RETAIL CLOSURES IN OVER A DECADE

This year is on track to have the least amount of retail stores closing up shop in more than a decade, a huge improvement from the record number of closures last year. CoStar expects the U.S. to see about 40 million sf of store closures around the country, a big change from the record 160 million sf that shuttered last year.

 

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