Panda Express

Peoria, Ariz. -- CBRE has completed the sale of Peoria Marketplace, a 25,481-sq.-ft. multi-tenant shopping center in Peoria, Arizona. The grocery shadow-anchored retail property was sold for $5.1 million.

The seller was G and T Retail Properties, LLC of Phoenix, and the buyer was Westlake Village, California-based Barstow Shopping Centers, LLC.

The property, which was 91% occupied at time of sale, features national tenants like Farmers Insurance, H&R Block, Panda Express, Little Caesar’s Pizza and Subway.

Los Angeles — Juanita Tate Marketplace is now open, bringing 77,096 sq. ft. of outdoor retail space with a full-service grocery to the highly underserved surrounding community. Located at 944 East Slauson Avenue in South Los Angeles, the $21-million development is situated on a 6.5-acre site, which was formerly used as a scrap-metal plant.

Construction began in May 2013 and completed in April 2014. The center is owned by Regency Centers and was designed by Nadel.

East Peoria, Ill. -- Cullinan Properties said that Noodles & Company will be opening a new restaurant in November at the Levee District in East Peoria, Illinois.

East Peoria, Illinois — McDonald’s Restaurants of Peoria/Bloomington will join the East Peoria Levee District with the opening of a new restaurant in September.

 Local owner-operator Scott Bandy will be overseeing the construction of the restaurant, with plans to include a modern exterior and dual drive-thru lanes. Interior features include a dual-point ordering system with new split counter function, free Wi-Fi, and digital menu boards.

Sacramento, California — West Coast shopping center owner/operator Pacific Castle has acquired four Sacramento-area properties for approximately $40 million, signaling an ongoing trend to add to the company’s diversified portfolio.

Store closings are hardly an infrequent topic in this space. As a barometer for both the performance of individual brands and the market at large, they are an important part of the equation for any retail analyst. Store closings are part of healthy portfolio management for any brand, and, on a larger scale, bankruptcies and reorganizations are a reflection of the market at work.

Chicago - The fast-casual segment continues to obtain share from full-service chains and drive limited-service growth, making up 15% of the $231 billion limited-service restaurant segment. The “Top 150 Fast-Casual Chain Report” from Technomic shows that fast-casual sales increased 11% in 2013, while all limited-service chains grew by only 3.5%.

Chicago -- According to Technomic's Top 150 Fast-Casual Chain Restaurant Report, fast casual makes up just 14% of the total $223 billion limited-service restaurant segment, but its sales continue to outpace other operators. Fast-casual sales increased 13% in 2012, and the largest chains — those which each made more than $325 million last year — did even better, growing by 16%.