ICSC Retailer Runway: Brands planning store expansion include...
Several retail chains, restaurants, and service brands announced plans to open new stores in the Midwest and beyond at the recent ICSC @ Midwest event in Chicago.
During the "Retail Runway" portion of the event, chains ranging from McDonald’s to Crunch Fitness detailed their expansion plans, including what types of locations and store sizes they are looking to fill – even in a challenging economic environment.
Below are highlights from the segment:
•Einstein Bros. Bagels: Across its brands, which include Bruegger’s Bagels, Manhattan Bagel and Noah’s NY Bagels, Einstein Bros. plans to open more than 50 units in 2025, bringing its total to more than 350 nationwide. The chain says it is seeking spaces between 1,700 to 2,600 sq. ft. located on the “morning side” of the street in power, neighborhood and community centers in “strong retail corridors.”
•First Watch: The California-based breakfast chain has been in business since 1983, and is looking to continue growing its footprint. Currently operating approximately 600 restaurants in 31 states, First Watch opened 17 restaurants in eight states in the second quarter of 2025. For new builds, the chain requires between 3,600 and 3,900 sq. ft., but has seen recent success converting the former sites of full-service dining chains.
•Great Clips:The world’s largest hair salon brand is continuing its push towards opening 5,000 locations (as of Sept. 9, Great Clips operated nearly 4,440 locations.) Through its new “Greenlight” salon format, the chain is targeting 800 to 1,200-sq.-ft. spaces in centers with national and regional tenants, including grocers. As of June of 2025, Great Clips redesigned 1,300 of its locations to the new format.
•Ulta Beauty: In addition to its recent international debut in Mexico City, the chain is on track to open its 1,500th store in the U.S. Ulta added that it is planning “double-digit” store growth over the next year in all types of retail centers, in addition to store remodels.
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•Crunch Fitness: The fitness category has seen rapid expansion in recent years, and Crunch Fitness is no exception. The chain, which began franchising in 2010, operates more than 500 locations in the U.S. and in five countries, and plans to open more than 100 new locations in 2025. For site requirements, Crunch is seeking 20,000 to 50,000 sq. ft. properties with high ceilings and daily needs co-tenancy.
•Smoothie King: Smoothie King has grown its footprint substantially so far in 2025, opening 54 new stores and signing 54 franchise agreements. The chain, which operates more than 1,300 locations, says it is flexible with its real estate needs (seeking sites between 750 and 1,600 sq. ft.), but is prioritizing drive-thru locations with outdoor seating availability.
•Big Blue Swim School: Active across 26 states, Big Blue Swim School is a family-centered destination that offers swimming lessons to young children in second-generation retail spaces between 6,000 and 8,500 sq. ft. SDG Swim LLC owns 21 development rights in Illinois, Wisconsin and Minnesota. Currently, the brand has two open schools located in Illinois, with between two and three new pools planned to be open by the end of 2026.
•Jersey Mike’s: Since its $8 billion acquisition was completed in January of this year, Jersey Mike’s has set its sights on expansion. The chain has continued an upward growth trajectory for the past 10-plus years, reaching 3,000 locations in 2024. Jersey Mike’s says it is seeking spaces between 1,200 and 1,800 sq. ft. with shared pads, outparcels and end-caps preferred.
•Swig: Utah-based Swig was founded in 2010 and has emerged as the leader of the “dirty soda” category, allowing guests to customize soft drinks with fresh fruit, flavor shots and more. This year, the chain hit 100 locations in 14 states, and is continuing to eye national expansion in spaces between 850 and 1,700 sq. ft. with high visibility and drive-thrus.
•Dollar Tree: The discount retailer described its national growth plans as “aggressive,” citing a growing customer base as inflation continues to impact shoppers. The chain is seeking spaces between 8,000 and 12,000 sq. ft. in high-traffic centers alongside big box discounters, dominant grocers, and national/regional retailers.
•Rural King: Illinois-based farm and home retailer Rural King has set a goal to open 15 stores per year, and is targeting the Midwest and the Southeast as the areas with its highest priority. Rural King, which currently has approximately 150 stores in 17 states, is looking to make purchase-only deals in standalone boxes, shopping centers and enclosed malls, with a minimum size of 70,000 sq. ft.
•Kwik Trip: The Midwestern-focused convenience chain, which operates more than 900 locations across six states, is continuing to grow its footprint. By the end of 2025, Kwik Trip will have opened approximately nearly 30 new locations, including truck centers, and rebuilds. The chain is seeking purchase-only opportunities with sites and markets being evaluated on an individual basis.
•McDonald’s: The world’s largest restaurant chain isn’t resting on its laurels. McDonald’s plans to open 195 new locations in 2025, with more than 900 openings planned through 2027. The chain has opened or relocated nearly 320 restaurants in the past five years, and is seeking spaces between 3,700 and 4,500 sq. ft. on major intersection corners for future expansion.
