Hospitality

Bayer Properties has announced that it will develop a third member of its signature Summit property brand: The Summit Lexington, a mixed-use shopping destination located in the Lexington, Kentucky’s retail hub. An outdoor fashion center, The Summit Lexington will offer specialty retail, restaurants and residences.

Old Bridge, N.J. — R.J. Brunelli & Co. has announced that it has been retained as exclusive real estate broker in several New Jersey counties for three fast casual chains: BurgerFi, Corner Bakery Café and Tommy’s Coal Fired Pizza. All three restaurants are seeking end-cap or freestanding pad locations with outdoor seating in lifestyle centers, power centers and other high-traffic locations, in areas offering high daytime and residential populations.

Milford, Conn. — Subway opened its 40,000th location at an AppleGreen petrol station in Ipswich, England. The company has opened 1,761 locations around the world since the start of 2013. The largest chain of sub shops in the world, Subway leads the next largest chain by more than 5,500 locations.

The U.K. is the brand’s third largest market, behind the U.S. and Canada. There are 14,000 international locations in 102 countries outside the U.S.

Americans are eating more chicken and paying more to do so, according to leading poultry producer Sanderson Farms.

The company said its third quarter sales increased 18.3% to $739 million and profits grew 136% to $67.9 million, or $2.95 a share, compared to profits of $28.7 million, or $1.25 a share.

The strong showing was the result of improved market conditions as whole bird prices remained at historically high prices during the quarter, according to Joe F. Sanderson, Jr., chairman and CEO of Sanderson Farms, Inc.

Greenwood Village, Colo. — Red Robin Gourmet Burgers has announced the opening of two new restaurants. The first will open in Canton Crossing, Md., and Inner Harbor location in downtown Baltimore in late September. The second will open in Monroeville, Pa., at The District at Monroeville Mall outside of Pittsburgh in early October.

New York -- American Dream Meadowlands, the much-delayed shopping and entertainment complex adjacent to Metlife Stadium in East Rutherford, N.J., is close to signing several major retail tenants, according to Crain’s New York.

The complex, originally called Xanadu, was started in 2004, and never completed. It has gone through several changes in ownerships, eventually falling into default. In July, it was acquired by Canadian developer Triple Five Group.

Alpharetta, Ga. — McAlister’s Deli, a fast casual restaurant, has announced its largest franchise deal so far. The Saxton Group has signed an agreement to develop 30 new restaurants in three states over the next six years in Texas, Oklahoma, Kansas, and Missouri. The primary focus will be in the Dallas-Fort Worth and Kansas City markets.

Three locations included in the agreement have already opened in Midwest City, Okla., Dallas and Sherman, Texas.

McAlister’s has more than 320 restaurants in 23 states.

Millennials and boomers are driving an urban push

Generations after people deserted cities for the suburbs, young millennial-generation adults and older baby-boomer adults are moving back downtown.

Retailers aren't far behind, and new, seemingly instant neighborhoods — complete with housing, retail, offices and other forms of real estate — are springing up in redevelopment areas of cities across the country.