ICSC @ Midwest: Retail, restaurant brands looking to expand include...
Despite ongoing economic headwinds, many retail chains, restaurants and service brands are still in aggressive store expansion mode.
During the "Retail Runway" portion of the recent ICSC @ Midwest event in Chicago, brands such as Tropical Smoothie Cafe, Miniso, Sprouts Farmers Markets, Five Below and more detailed their expansion plans, including what types of locations and store sizes they are looking to fill.
Below are highlights from the segment:
•Jetset Pilates Founded in 2010, Jetset Pilates is just one of many boutique fitness chains eager to expand its footprint. The boutique fitness franchise offers high-intensity, low-impact reformer workouts for “young, active” professionals. The company currently has 89 locations open, with 224 in the site selection process. Jetset is seeking 1,600 to 2,500 sq.-ft. spaces at lifestyle and grocery-anchored centers in affluent communities with above-average discretionary income.
•First Watch Restaurants The California-based breakfast and lunch chain has been in business since 1983, and is looking to continue expanding. First Watch has approximately 660 locations currently open in 33 states, with a long-term goal of hitting 2,200 restaurants. The chain’s new builds span between 3,200 and 3,700 square feet, while converted spaces range from 3,200 and 7,500 square feet. It is seeking spaces at high-traffic intersections alongside other restaurant brands as well as daily use tenants.
•Casey’s General Stores The Iowa-based convenience giant is expanding its footprint across the country through both acquisitions and opening new stores. Casey’s has opened 504 new locations in the past three years, and has more than 400 projected for the next three. The chain has three formats to meet its expansion goals: a smaller format store (~3,200 square feet), the standard prototype (~5,000 square feet) and the larger travel center format (~7,800 square feet).
•American Eagle Outfitters (AEO) The apparel giant, whose brands include American Eagle, Aerie, Offline, Todd Snyder and Unsubscribed, is looking to expand the footprint of its top brands at malls nationwide. AEO is setting its sights on 20 new Aerie stores and 30 new Offline stores by 2028. The spaces being sought for the two respective brands are between 4,000 and 5,000 square feet, and between 3,000 and 4,000 square feet.
•Tropical Smoothie Cafe The fast-casual smoothie brand, which recently underwent a brand refresh, is looking to grow its footprint by about 200 new stores per year. Currently operating approximately 1,750 locations nationwide, Tropical Smoothie Cafe is seeking spaces ranging from 1,000 to 1,800 square feet alongside other fast-casual restaurants, health/fitness tenants and grocery chains.
•Designer Shoe Warehouse (DSW) The footwear retailer, which operates nearly 500 locations in 44 states and 28 locations in Canada, is looking to continue expanding. DSW plans to open roughly 60 stores over the next three years at retail centers with big box soft goods, specialty grocers and specialty beauty/cosmetics tenants. DSW stores range from 12,000 to 18,000 square feet.
•Five Below The discount retailer opened approximately 150 net new stores in 2025 and 2026, and is currently building its store plans for the next three years. Five Below stores range from 8,200 to 9,000 square feet, and are most often located next to mass merchant anchors, off-price retailers, grocers, sporting goods chains and home decor brands. The chain operates more than 2,000 stores nationwide.
•EVgo One of the nation’s largest public electric vehicle fast-charging networks, EVgo operates more than 1,230 locations in 47 states, offering more than 5,380 chargers to EV drivers. The company has a goal of operating between 13,800 and 14,400 stalls by 2029, and is looking to partner with retailers and shopping center owners and operators to do so. For its site selection, EVgo seeks a minimum of 10 stalls (or .25 acres) near retail and restaurants, with proximity to multi-family, condos and apartments.
•McDonald’s America’s largest restaurant chain by sales, McDonald’s is still looking to continue growing its footprint nationwide, with the goal of opening 225 per year. The hamburger giant says for large developments, it prefers to be next to national/regional grocer or box tenants as an anchor. If in a smaller development, it prefers to be co-tenants with a gas station/convenience store. McDonald’s typical store size is 4,500 square feet.
•Miniso The China-based global lifestyle retail known for its IP collaborations is looking to expand its footprint in heavy-foot traffic areas where Gen Z shoppers are core customers. Miniso is targeting shopping centers of all varieties in top 50 metro areas, with a goal of opening more than 100 new stores annually. The typical Miniso store ranges between 6,000 and 8,000 square feet.
•Mike’s Red Taco The fast-casual Mexican chain that specializes in birria tacos currently has fewer than five locations open, but began its franchising program earlier this year and has more than 200 units currently in its development pipeline. Mike’s Red Tacos is looking to expand in strong trade areas at shopping centers alongside other fast-casual restaurants. Stores range between 2,400 and 2,800 square feet.
•Potbelly Sandwich Works After being acquired by RaceTrac in 2025, the sandwich chain has a long-term goal of reaching 2,000 domestic and international locations. Potbelly has 460-plus locations open, with more than 380 stores in the pipeline. Site criteria includes strip, neighborhood, power and lifestyle centers with a strong daytime workforce. Potbelly locations average 1,800 square feet.
•Sprouts Farmers Market The natural and organic grocer is continuing to open new stores, and has new markets planned for the upcoming years. Sprouts will have opened more than 40 new locations by the end of the year, and will make its debut in Chicago and New York in 2027. The grocer is targeting 10% annual new store growth in both ground-up and second-generation spaces. With stores ranging between 21,000 and 26,000 square feet, Sprouts’ ideal co-tenants include fitness brands, health and wellness chains, and soft goods retailers.
•Savvy Sliders The Michigan-based hamburger chain currently operates more than 50 locations in seven states, and is looking to grow its footprint largely through franchising. Savvy Sliders has more than 85 stores, which span between 1,700 and 2,200 square feet, in development.
•The Great Greek With nearly 100 locations nationwide, the fast-casual Mediterranean restaurant is growing its footprint at retail centers alongside specialty grocery chains and other fast-casual brands. The Great Greek has a preferred footprint of between 1,800 and 2,400 square feet.
