Convenience Stores

Chicago - Top commercial construction trends for 2015 include an increase in retail and restaurant ground-up construction and a rise in shopping mall renovations, according to national general construction firm Englewood Construction.  

San Antonio, Texas - CST Brands Inc and CrossAmerica Partners LP have agreed to jointly purchase 22 convenience stores in San Antonio and Austin, Texas from Landmark Industries, their third combined acquisition in less than three months. The 22 stores operate under the Timewise brand name and provide Shell-branded fuel.   

A fresh round of unionization efforts appear to be in store for major retailers next spring after organized labor won a favorable ruling regarding how elections are conducted.

Cary, N.C. – Things are hopping at convenience store/gas station chain The Pantry Inc. According to the Wall Street Journal, the operator of Kangaroo Express and other convenience store banners is preparing to sell itself and already took bids in an auction run by a private investment bank the week of Dec. 8.  

St. Petersburg, Florida - The Sembler Company and Forge Capital Partners, in their Forge Real Estate Partners III investment fund, have recently purchased two shopping centers:  Causeway Shopping Center in Indian Harbour Beach, Florida, and Springdale Shopping Center in Austin, Texas.     FREP now owns five shopping centers, and the joint venture is actively seeking additional investments in grocery-anchored shopping centers throughout the Southeast.    

Baton Rouge, Louisiana - JLL’s Capital Markets experts announced the sale of Coursey Commons Shopping Center on behalf of Blue Ridge Real Estate Company. Wal-Mart Stores purchased the Baton Rouge, Louisiana shopping center for $10.9 million. The 67,775-sq.-ft. center is anchored by a Walmart Neighborhood Market and includes Sally Beauty Supply, AT&T Mobility, UPS store and Weight Watchers.  

Seattle – Top executives of Starbucks Corp., including chairman, president and CEO Howard Schultz, reportedly sold a combined total of 448,320 company shares for about $37.54 million, an average of $83.74 each, on Dec. 9 and 10, 2014. According to Barrons.com, Schultz exercised options and sold shares for a total of $28.95 million, and also gifted 175,000 shares, leaving him holding about 16.78 million shares.  

Canton, Mass. – Dunkin’ Donuts opened six new restaurants and remodeled one location with existing franchise partners during the last several weeks in  the Miami-Fort Lauderdale market. Currently, there are more than 150 Dunkin' Donuts restaurants located throughout the area.    In total, there are more than Dunkin’ Donuts 150 restaurants in the Miami-Fort Lauderdale market.