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RETAIL TENANTS MEMBERSHIP Your Source for Advanced Information and In-depth Analysis

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Page 1: Retail tenants MeMbeRship · North Plainfield, NJ 07060 Retail Leasing Specialist Label Shopper 5,000 s.f. CommPros Wendell Hindley200 1401 Quail St. Director, LeasingSome& Acquisition

Retail tenants MeMbeRship

Yo u r S o u r c e fo r A d v a n c e d I n fo r m a t i o n a n d I n - d e p t h A n a l y s i s

Page 2: Retail tenants MeMbeRship · North Plainfield, NJ 07060 Retail Leasing Specialist Label Shopper 5,000 s.f. CommPros Wendell Hindley200 1401 Quail St. Director, LeasingSome& Acquisition

Retail tenants MeMbeRship

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Thank you for your interest in our Retail Tenants Memberships.

The Crittenden Retail Tenants Report offers valuable insight into the constantly evolving retail and restaurant industry. With coverage on both a national and regional scope, we include all of the retailers you have in mind to fill your space.

The report includes retailers’ expansion plans, up-and-coming concepts to watch out for, and much more! Also included in the report is a supplemental list of the recently added and updated companies in the Crittenden Retail Tenants Online Directory.

With a membership, you’ll receive two issues each month (excluding holiday bye weeks).

In a six-month membership, you’ll receive a total of 12 issues. In an annual membership, you’ll receive a total of 24 issues.

Reports can be delivered either via mail or emailed PDF.

(Pictured to the right and on the next page: Sample pages of the Crittenden Retail Tenants Report)

Crittenden retail tenants report

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Quotation not permitted. Material may not be reproduced in whole or in part in any form whatsoever. Copyright © 2019 Crittenden Research, Inc.

Crittenden Retail TenantsTM Crittenden Research, Inc. P.O. Box 635107 San Diego, CA 92163 (800) 421-3483 Vol. 32, No. 29 June 17, 2019 JUNIOR ANCHORS CHASING 10,000-20,000 S.F. Count on junior anchor positions to increasingly become the new draw as traditional anchor tenants close stores, reduce floorplans, or fade away in the face of changing consumer habits. The trend toward personal-ization and efficiency is leading to an industry-wide shift to smaller floorplans. Best Buy now more often looks at 25,000 to 30,000 s.f. spaces, nearly half the size of its older floorplan. Struggling office supply re-tailers Staples and Office Depot now exclusively take 10,000 to 15,000 s.f. after abandoning the idea of needing 20,000 to 25,000 s.f. This is leaving the typical anchor positions of 30,000 to 60,000 s.f. as the sole domain of arts and crafts retailers, sporting goods chains and discount department stores. PETCO, ULTA, PetSmart, Sally Beauty, Kirkland’s, DSW Shoes, Ross, BevMo, Burlington, and TJX Cos. brands T.J. Maxx, Marshalls and HomeGoods to be some of the best prospects to fill 10,000 to 20,000 s.f. TJX Cos. is the fastest growing company in the discount department store segment. Ross and Burlington will typically start at 20,000 s.f. and take as much as 40,000 s.f. ALDI and rival LIDL, Sprouts Farmers Market, ULTA, PetSmart, Trader Joe’s, Sally Beau-ty, PETCO, Kirkland’s, DSW Shoes and BevMo will be more aggressive candidates for junior anchor posi-tions. In power centers, ULTA leads as the fastest growing junior anchor tenant, with an expansion pace that’ll add 300-plus new locations during the next five years. The beauty chain is specifically interested in new shop-ping centers or redevelopment prop-erties. As a junior anchor, ULTA fa-vors centers anchored by Marshall’s or arts and crafts retailer Michael’s, as well as discount department store Kohl’s. ULTA will also open in Walmart-anchored centers and did so earlier this year to fill a 20,000 s.f. location alongside both Walmart and Sam’s Club. ULTA rivals Sephora and Sally beauty are also growing but both typically take smaller, inline space in shopping centers. Sephora typically takes 3,500 to 7,000 s.f., while Sally Beauty settles for even smaller 1,400 to 1,800 s.f. locations. The demise, slowdown, and closures of a number of big-box chains – Circuit City, hhGregg, Toys ‘R’ Us and Sears to name a few – are also encouraging pet supply chains PETCO and PetSmart, furniture chain Kirkland’s, footwear company DSW Shoes, and BevMo to be more aggressive for space in power centers previously anchored by a big-box brand. All of these retailers will okay the division of larger anchor space. PETCO and PetSmart will each open about 15 stores this year. DSW Shoe – which typically fills 15,000 to 20,000 s.f. – will open four to six stores, while rival Shoe Show will likely add a few of its ENCORE-branded stores, which take 10,000 to 15,000 s.f. Continued on Page 2

Quotation not permitted. Material may not be reproduced in whole or in part in any form whatsoever. Copyright © 2019 Crittenden Research Inc.

The CRITTENDEN ™ REPORT®

Real Estate Financing The Nation’s Leading Report on Real Estate Finance

Crittenden Research, Inc. P.O. Box 635107 San Diego CA 92163 Customer Service: (800) 421-3483

Vol. 45, No. 12 June 17, 2019

BUSTLING BANK LENDERS(2019 PROJECTED ORIGINATION VOLUME AND PREFERENCES)

BANK VOLUME DETAILSMorgan Stanley $10B Already funded $4.5B this year; $75M-$1B+ loans for

office, multifamily, hotels, retail, industrial and portfolios; floating-rate non-recourse loans with a max LTV of 65%, mezz loans up to 80% LTV; nationwide

Associated Bank $2B+ Already funded $1B this year; $10M+ loans for multifamily, retail, office, industrial; 75% leverage; less than five-year terms; markets within the bank’s footprint

Bank OZK $1.9B $5M-$650M loans ($70M average); primarily focused on senior secured commercial real estate loans including those collateralized by condos, multifamily, hotels, industrial, office, retail, lot development and mixed-use projects; Libor-based floating rates plus a spread, typical origination fees of 1% but may vary, exit fees up to 1%; 12- to 36-month terms; typically non recourse with standard carve-out, completion and other guarantees; major markets

Bank of the West $1.6B Already funded one-third of projections this year; $15M loans for multifamily, retail, office, industrial, senior housing, self storage; primarily west of the Mississippi River but will follow clients to other states

HomeStreet Bank $1.5B $2M-$20M loans primarily for multifamily Fannie Mae and wholesale portfolio loans, as well as retail, office, industrial, MHC; up to 80% leverage, although deals in major markets often max at 60%-65%; low to mid-4% rates for multifamily, mid- to upper 4% for other assets; DSC as low as 1.15x for multifamily, 1.25x for other deals; full, partial and non recourse; Fannie Mae program nationwide, portfolio loans in WA, OR, CA, ID, NV, AZ, CO, UT, TX, HI

Opus Bank $1.3B Already funded $400M this year; $1M-$20M loans for multifamily, retail, industrial, office, MOB, self storage; up to 75% LTV for multifamily, up to 70% LTV for other assets; up to 10-year fixed-rate terms; recourse and non recourse; interest-only; Seattle; Portland, Ore., Phoenix, Northern and Southern CA

Washington Trust $300M $1M-$30M loans for all property types, caution toward spec and ground-up construction; up to 70% leverage; DSC 1.30x+; prefers seven-year and under terms, will go to 10 years in some cases; New England

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Page 3: Retail tenants MeMbeRship · North Plainfield, NJ 07060 Retail Leasing Specialist Label Shopper 5,000 s.f. CommPros Wendell Hindley200 1401 Quail St. Director, LeasingSome& Acquisition

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Crittenden’s Retail Tenants™ Page 5

Quotation not permitted. Material may not be reproduced in whole or in part in any form whatsoever. Copyright © 2019 Crittenden Research, Inc.

New Tenants & Contacts See the Crittenden Retail Tenants Online Directory 

for Complete Contact Information and Site Requirements ✔ Faster Growing Hot Pick 

   Minimum Tenant  Square Feet  Address  Contact(s)   Farmers Home Furniture  15,000 s.f.  1851 Telfair St.  Robbie Cook     Dublin, GA 31021  Executive Director,          Advertising & Marketing  Gloria’s Latin Cuisine  3,000 s.f.  CBRE Dallas  Tey Tiner     8080 Park Lane  First Vice President     Suite 800     Dallas, TX 75231  Honor Yoga ✔  2,500 s.f.  116 Route 22  Joe Hydro     North Plainfield, NJ 07060  Retail Leasing Specialist  Label Shopper  5,000 s.f.  CommPros  Wendell Hindley     1401 Quail St.  Director, Leasing & Acquisition     Suite 105     Newport Beach, CA 92660  Movita Juice Bar  1,200 s.f.  1234 Goodrich Blvd.  Raul Rodriguez     Commerce, CA 90022  Co‐Founder  Nadeau  4,000 s.f.  10730 McCune Ave.  Rob Salmon     Los Angeles, CA 90034  CEO  Rinse Bath & Body Co.  400 sf.  106 S. Broad St.  Laura Webster     Monroe, GA 30655  Wholesale Accounts  SomiSomi Soft  1,000 s.f.  3731 Wilshire Blvd.  SeonJi Jenny Mun   Serve & Taiyaki ✔    Suite 630  Duty General Manager     Los Angeles, CA 90010 

SWIM SCHOOLS AN ALTERNATIVE DRAW Fast-growing swim schools are becoming an attractive option for property owners looking to diversify shop-ping centers with the addition of a service destination. Goldfish Swim Schools, Emler Swim School, Foss Swim School, British Swim School, and Safe Splash are all actively searching for new locations. Goldfish Swim Schools may be the fastest expanding chain in this segment despite being the third largest with 100 lo-cations. With almost 200 locations, British Swim School is the largest player, followed closely by SafeSplash with 170 locations. Goldfish broke ground last month on a new, freestanding pad in Pennsylvania, where it will replace a former Best General Store. Goldfish has most of its locations in the Mid-Atlantic and North-east but looks for opportunities nationwide. Its limited presence in West does include locations in California, Colorado, Utah and Washington. Replacing traditional retailers or restaurants is not unusual for these chains. Foss Swim School will open its newest location later this year in Minnesota after redeveloping a building former-ly occupied by Outback Steakhouse. The space had been vacant since 2014 following Outback’s departure. Other regional players in the swim school niche include Bear Paddle Swim School in Illinois, Kentucky, New Jersey and Ohio; Hubbard Family Swim School in Arizona, Illinois and Ohio; Kids First Swim School in the Northeast; and La Petite Baleen Swim School in California.

WATCH LIST Off/Aisle by Kohl’s will be shut down by Kohl’s Corp. by August. The off‐price concept debuted during May 2015 to sell deeply discounted merchandise returned to Kohl’s full‐price stores. On‐ly four locations were opened during the last four years.  Lord & Taylor has added two more stores to the 10  it plans to close. The chain has only closed three stores so far, including its Manhattan  flagship  store, non‐renewing  a  lease  for  a  store  in Oakbrook Center near Chicago, and closing a store in a troubled property  that’s  being  redeveloped.  Owner  Hudson’s  Bay  has floated  the  ideas of  a merger or  sale but hasn’t  yet  talked of possible liquidation of the chain. The Chapter 15 bankruptcy protection  filing by Arcadia Group will lead to the closure of all 11 U.S. Topshop stores. Arcadia will also close 23 overseas stores. 

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Crittenden’s Retail Tenants™ Page 3

Quotation not permitted. Material may not be reproduced in whole or in part in any form whatsoever. Copyright © 2019 Crittenden Research, Inc.

Full Steam Ahead: Bakeries & Coffee Shops in the 2,000 s.f. Range (Ranked by anticipated 2019 openings) 

Company Name Preferred

Square Footage Openings NotesStarbucks  500‐2,200 s.f.  275 (U.S.)

2,000 (Global)Fastest growing café chain in this year even as it is becom‐ing even more aggressive overseas. Looks for a variety of property types, including shopping centers and downtown space. In addition to new sites, constantly active when it comes to scouting the best available real estate. Will take an inline spot in a shopping center if nothing else is availa‐ble but will move to outparcel or end‐cap location if one opens up with an option to include a drive‐thru. Expect a more aggressive push to downtown, urban locations this year and next as it adds more Princi locations. The Princi concept debuted late last year to compete more directly in the bakery and fast‐casual sandwich segment.

Dunkin’ Donuts Traditional Combo Stores    (w/Baskin Robbins) 

 1,800‐2,200 s.f. 2,000‐3,000 s.f. 

200‐300 Dunkin’ Brands namesake chain Dunkin’ Donuts will be its primary platform for growth in the U.S. Some locations will be slightly larger combo stores. Prefers locations that allow a drive‐thru; drive‐thru stores – which account for more than half of its total locations – consistently outperform in‐line units by more than 20 percent  in sales volume. Will not hesitate to move an existing store in the same center when another location becomes available with accommo‐dation for a drive‐thru.

Panera Bread  3,500‐4,500 s.f.  40‐50 Aggressive U.S. growth will continue this year. Will focus largely on growing nationwide but particularly in the South and Midwest. Wants outparcels and end‐cap locations as a first choice, preferably with a drive‐thru option. Less likely to take smaller inline locations from the get‐go. Parent company JAB Holding Co. also operates Peet’s Coffee, Stumptown Coffee Roasters, Pret A Manger, Caribou Cof‐fee and Espresso House.

Paris Baquette  1,800‐2,500 s.f.  40‐50 Expect a doubling of its U.S. store count within the next couple years and will a shift to traditional suburban shop‐ping centers sometime next year or in 2021. Will add at least 40 U.S. locations this year and likely to grow more ag‐gressive next year with the expansion of its franchisee net‐work. Primarily eyes opportunities in major metros and high‐profile mixed‐use developments on the outskirts of large cities while it establishes itself as a national competi‐tor. The Korean franchisor has grown to more than 3,000 locations in France, Korea, Singapore, Vietnam and China but has a relatively modest U.S. presence of about 100 res‐taurants. 

Great Harvest Bread Co.  1,800‐2,500 s.f.  20‐30 New franchise agreements signed last month will prompt growth in Colorado, New Jersey, New York, Oklahoma and Texas. Also expect more openings in Connecticut and Pennsyl‐vania, including metro Philadelphia. Recently opened its sec‐ond store in Alabama and could be on the hunt for more new sites in the South. The Alabama store opened in a new shop‐ping center in Huntsville developed by RCP Cos. subsidiary Arora Properties. Freestanding properties are also a possible choice. International growth will include Canada, Europe and Japan. 

Corner Bakery  3,000‐3,500 s.f.  20‐30 Focusing on freestanding buildings and outparcels in well‐trafficked shopping centers. Growth targets the Midwest, in‐cluding a recent push in Iowa and Wisconsin. Wants additional sites in its home state of Texas and other parts of the South, as well as along the West Coast.   Continued on Page 4

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Crittenden’s Retail Tenants™ Page 3

Quotation not permitted. Material may not be reproduced in whole or in part in any form whatsoever. Copyright © 2019 Crittenden Research, Inc.

Full Steam Ahead: Bakeries & Coffee Shops in the 2,000 s.f. Range (Ranked by anticipated 2019 openings) 

Company Name Preferred

Square Footage Openings NotesStarbucks  500‐2,200 s.f.  275 (U.S.)

2,000 (Global)Fastest growing café chain in this year even as it is becom‐ing even more aggressive overseas. Looks for a variety of property types, including shopping centers and downtown space. In addition to new sites, constantly active when it comes to scouting the best available real estate. Will take an inline spot in a shopping center if nothing else is availa‐ble but will move to outparcel or end‐cap location if one opens up with an option to include a drive‐thru. Expect a more aggressive push to downtown, urban locations this year and next as it adds more Princi locations. The Princi concept debuted late last year to compete more directly in the bakery and fast‐casual sandwich segment.

Dunkin’ Donuts Traditional Combo Stores    (w/Baskin Robbins) 

 1,800‐2,200 s.f. 2,000‐3,000 s.f. 

200‐300 Dunkin’ Brands namesake chain Dunkin’ Donuts will be its primary platform for growth in the U.S. Some locations will be slightly larger combo stores. Prefers locations that allow a drive‐thru; drive‐thru stores – which account for more than half of its total locations – consistently outperform in‐line units by more than 20 percent  in sales volume. Will not hesitate to move an existing store in the same center when another location becomes available with accommo‐dation for a drive‐thru.

Panera Bread  3,500‐4,500 s.f.  40‐50 Aggressive U.S. growth will continue this year. Will focus largely on growing nationwide but particularly in the South and Midwest. Wants outparcels and end‐cap locations as a first choice, preferably with a drive‐thru option. Less likely to take smaller inline locations from the get‐go. Parent company JAB Holding Co. also operates Peet’s Coffee, Stumptown Coffee Roasters, Pret A Manger, Caribou Cof‐fee and Espresso House.

Paris Baquette  1,800‐2,500 s.f.  40‐50 Expect a doubling of its U.S. store count within the next couple years and will a shift to traditional suburban shop‐ping centers sometime next year or in 2021. Will add at least 40 U.S. locations this year and likely to grow more ag‐gressive next year with the expansion of its franchisee net‐work. Primarily eyes opportunities in major metros and high‐profile mixed‐use developments on the outskirts of large cities while it establishes itself as a national competi‐tor. The Korean franchisor has grown to more than 3,000 locations in France, Korea, Singapore, Vietnam and China but has a relatively modest U.S. presence of about 100 res‐taurants. 

Great Harvest Bread Co.  1,800‐2,500 s.f.  20‐30 New franchise agreements signed last month will prompt growth in Colorado, New Jersey, New York, Oklahoma and Texas. Also expect more openings in Connecticut and Pennsyl‐vania, including metro Philadelphia. Recently opened its sec‐ond store in Alabama and could be on the hunt for more new sites in the South. The Alabama store opened in a new shop‐ping center in Huntsville developed by RCP Cos. subsidiary Arora Properties. Freestanding properties are also a possible choice. International growth will include Canada, Europe and Japan. 

Corner Bakery  3,000‐3,500 s.f.  20‐30 Focusing on freestanding buildings and outparcels in well‐trafficked shopping centers. Growth targets the Midwest, in‐cluding a recent push in Iowa and Wisconsin. Wants additional sites in its home state of Texas and other parts of the South, as well as along the West Coast.   Continued on Page 4

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Crittenden’s Retail Tenants™ Page 3

Quotation not permitted. Material may not be reproduced in whole or in part in any form whatsoever. Copyright © 2019 Crittenden Research, Inc.

Full Steam Ahead: Bakeries & Coffee Shops in the 2,000 s.f. Range (Ranked by anticipated 2019 openings) 

Company Name Preferred

Square Footage Openings NotesStarbucks  500‐2,200 s.f.  275 (U.S.)

2,000 (Global)Fastest growing café chain in this year even as it is becom‐ing even more aggressive overseas. Looks for a variety of property types, including shopping centers and downtown space. In addition to new sites, constantly active when it comes to scouting the best available real estate. Will take an inline spot in a shopping center if nothing else is availa‐ble but will move to outparcel or end‐cap location if one opens up with an option to include a drive‐thru. Expect a more aggressive push to downtown, urban locations this year and next as it adds more Princi locations. The Princi concept debuted late last year to compete more directly in the bakery and fast‐casual sandwich segment.

Dunkin’ Donuts Traditional Combo Stores    (w/Baskin Robbins) 

 1,800‐2,200 s.f. 2,000‐3,000 s.f. 

200‐300 Dunkin’ Brands namesake chain Dunkin’ Donuts will be its primary platform for growth in the U.S. Some locations will be slightly larger combo stores. Prefers locations that allow a drive‐thru; drive‐thru stores – which account for more than half of its total locations – consistently outperform in‐line units by more than 20 percent  in sales volume. Will not hesitate to move an existing store in the same center when another location becomes available with accommo‐dation for a drive‐thru.

Panera Bread  3,500‐4,500 s.f.  40‐50 Aggressive U.S. growth will continue this year. Will focus largely on growing nationwide but particularly in the South and Midwest. Wants outparcels and end‐cap locations as a first choice, preferably with a drive‐thru option. Less likely to take smaller inline locations from the get‐go. Parent company JAB Holding Co. also operates Peet’s Coffee, Stumptown Coffee Roasters, Pret A Manger, Caribou Cof‐fee and Espresso House.

Paris Baquette  1,800‐2,500 s.f.  40‐50 Expect a doubling of its U.S. store count within the next couple years and will a shift to traditional suburban shop‐ping centers sometime next year or in 2021. Will add at least 40 U.S. locations this year and likely to grow more ag‐gressive next year with the expansion of its franchisee net‐work. Primarily eyes opportunities in major metros and high‐profile mixed‐use developments on the outskirts of large cities while it establishes itself as a national competi‐tor. The Korean franchisor has grown to more than 3,000 locations in France, Korea, Singapore, Vietnam and China but has a relatively modest U.S. presence of about 100 res‐taurants. 

Great Harvest Bread Co.  1,800‐2,500 s.f.  20‐30 New franchise agreements signed last month will prompt growth in Colorado, New Jersey, New York, Oklahoma and Texas. Also expect more openings in Connecticut and Pennsyl‐vania, including metro Philadelphia. Recently opened its sec‐ond store in Alabama and could be on the hunt for more new sites in the South. The Alabama store opened in a new shop‐ping center in Huntsville developed by RCP Cos. subsidiary Arora Properties. Freestanding properties are also a possible choice. International growth will include Canada, Europe and Japan. 

Corner Bakery  3,000‐3,500 s.f.  20‐30 Focusing on freestanding buildings and outparcels in well‐trafficked shopping centers. Growth targets the Midwest, in‐cluding a recent push in Iowa and Wisconsin. Wants additional sites in its home state of Texas and other parts of the South, as well as along the West Coast.   Continued on Page 4

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Retail tenants MeMbeRship

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the Crittenden retail tenants online direCtory

(Pictured above and on the next page: Sample pages of the Crittenden Retail Tenants Online Directory. Full contact information has been removed from the sample packet. Paid subscribers have access to full view)

The Crittenden Retail Tenants Online Directory puts you in direct contact with the people you need to lease your empty space.

This online resource provides contact information from a list of over 3,000 retailers. The directory is an easy-to-use system that allows you to filter out what you need in an instant. Contact information includes titles, phone numbers, and email addresses.

Chipotle Mexican Grill

Chipotle Mexican Grill Inc.

Restaurant/Mexican

2010 LocationsFLOOR PLAN SIZE(S) 1,000 to 2,800 s.f. (25 feet minimum frontage,

patio seating preferred. Zoning to accommodateliquor license for beer & margaritas )

PREFERRED PROPERTY Downtown or Streetfront, Freestanding Pad,Shopping Center, Lifestyle Center

TERRITORY Nationwide

CO-BRANDS ShopHouse, Pizzeria Locale, Tasty Made

Contacts http://www.chipotle.com/

TX,MN,OK,CO,WY,KS Western

Corey Jones

Real Estate Representative

1401 Wynkoop Street

Denver, CO 80202

(303) 390-0629

Fax: (303) 390-0650

[email protected]

AZ & CA Bay Area

Lisa Burbey

Real Estate Representative

1401 Wynkoop Street

Denver, CO 80202

(480) 998-3207

Fax: (480) 718-7976

[email protected]

CA - LA, Orange, Bakersfield,

Ventura & Santa Barbara

Ginny DiBias

Real Estate Director

1401 Wynkoop Street

Denver, CO 80202

(626) 796-1974

Fax: (626 270-4184

[email protected]

DC,MD,VA,PA - Central

Matt France

Real Estate Representative

1401 Wynkoop Street

Denver, CO 80202

(301) 926-0805

Fax: (301)926-0804

[email protected]

FL (except Panhandle)

Jodi Recalt

Real Estate Representative

1401 Wynkoop Street

Denver, CO 80202

(954) 608-9788

[email protected]

OH, KY, IN, MI, PA,Western, WVA,

NY

Mark Heath

Director, Real Estate

1401 Wynkoop Street

Denver, CO 80202

(614) 769-9028

Fax: (614) 769-9040

[email protected]

Chipotle

Additional Contacts On Next Page

Denver, CO

Crittenden Retail Tenants Directory

Copyright 2019 Crittenden Research, Inc. Cannot be reproduced in any form whatsoever.

SAMPLE DIRECTORY

LISTING

Page 5: Retail tenants MeMbeRship · North Plainfield, NJ 07060 Retail Leasing Specialist Label Shopper 5,000 s.f. CommPros Wendell Hindley200 1401 Quail St. Director, LeasingSome& Acquisition

Retail tenants MeMbeRship

4

Best Buy Co.

Best Buy Co. Inc.

Electronics/Entertainment

1050 LocationsFLOOR PLAN SIZE(S) 20,000 to 45,000 s.f.

PREFERRED PROPERTY Freestanding Pad, Shopping Center, PowerCenter

TERRITORY Nationwide

LEASING TERMS 15-Year Primary

NOTES Sites can also be sent to:[email protected]

CO-BRANDS Best Buy Mobile, Geek Squad, Pacific Sales,Magnolia Home Theater

Contacts https://www.bestbuy.com/

Mary Cassellius

Sr. Real Estate Directory

7601 Penn Ave. S.

Richfield, MN 55423

(612) 291-7545

[email protected]

Gallelli Retail Specialists

Jason Gallelli

EVP

2237 Douglas Blvd

Suite 100

Roseville, CA 95661

(916) 772-1700

[email protected]

Patrick Matre

VP, Real Estate

7601 Penn Ave. S.

Richfield, MN 55423

(612) 291-1000

[email protected]

Best BuyRichfield, MN

Crittenden Retail Tenants Directory

Copyright 2019 Crittenden Research, Inc. Cannot be reproduced in any form whatsoever.

AutoZone

AutoZone Inc.

Auto Accessories/Parts/Service

6000 LocationsFLOOR PLAN SIZE(S) 6,500 to 8,000 s.f.

PREFERRED PROPERTY Freestanding Pad, Shopping Center

TERRITORY Nationwide

LEASING TERMS 5-10 years primary plus 5 year options.

NOTES As of November 18, 2017, AutoZone sells autoand light truck parts, chemicals and accessoriesthrough 5,480 AutoZone stores in 50 states plusthe District of Columbia and Puerto Rico in theU.S., and 529 stores in Mexico, 26 IMC branchesand 14 stores in Brazil for a total count of 6,049

Contacts http://www.autozone.com/

Jim Herring

Senior Real Estate Manager

P.O. Box 2198

Memphis, TN 38101

(901) 495-8672

[email protected]

AutoZone

Corporate Office

123 S. Front Street

Memphis, TN 38103

(901) 495-6500

[email protected]

CA,WA,OR,NV,ID,AK

Bryan Daugherty

Real Estate Development Manager

123 S. Front Street

Memphis, TN 38103

(901) 495-7985

[email protected]

Michael Chastain

Senior Real Estate Manager

P.O. Box 2198

Memphis, TN 38101

(901) 495-6872

[email protected]

Tahir Sikandar

Director of Real Estate

P.O. Box 2198

Memphis, TN 38101

(901) 495-8914

[email protected]

Scott Fraser

Director of Real Estate Asset

Management

P.O. Box 2198

Memphis, TN 38101

(901) 495-8788

[email protected]

AutoZone

Additional Contacts On Next Page

Memphis, TN

Crittenden Retail Tenants Directory

Copyright 2019 Crittenden Research, Inc. Cannot be reproduced in any form whatsoever.

SAMPLE DIRECTORY

LISTING SAMPLE DIRECTORY

LISTING

Page 6: Retail tenants MeMbeRship · North Plainfield, NJ 07060 Retail Leasing Specialist Label Shopper 5,000 s.f. CommPros Wendell Hindley200 1401 Quail St. Director, LeasingSome& Acquisition

Retail tenants MeMbeRship

5

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For over 30 years, Crittenden Conferences has provided the ideal occasion to create direct contact with today’s executives and tomorrow’s leaders. Crittenden has established a recognized platform where business professionals are given the necessary tools to build their companies and succeed in today’s market.

All paid members are eligible to receive 20% off registration fees to our three Real Estate conferences.

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Retail tenants MeMbeRship

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Quotation not permitted. Material may not be reproduced in whole or in part in any form whatsoever. Copyright © 2019 Crittenden Research, Inc.

Crittenden Retail TenantsTM

Crittenden Research, Inc.

P.O. Box 635107

San Diego, CA 92163

(800) 421-3483

Vol. 32, No. 29

June 17, 2019

JUNIOR ANCHORS CHASING 10,000-20,000 S.F.

Count on junior anchor positions to increasingly become the new draw as traditional anchor tenants close

stores, reduce floorplans, or fade away in the face of changing consumer habits. The trend toward personal-

ization and efficiency is leading to an industry-wide shift to smaller floorplans. Best Buy now more often

looks at 25,000 to 30,000 s.f. spaces, nearly half the size of its older floorplan. Struggling office supply re-

tailers Staples and Office Depot now exclusively take 10,000 to 15,000 s.f. after abandoning the idea of

needing 20,000 to 25,000 s.f. This is leaving the typical anchor positions of 30,000 to 60,000 s.f. as the sole

domain of arts and crafts retailers, sporting goods chains and discount department stores.

PETCO, ULTA, PetSmart, Sally Beauty, Kirkland’s, DSW Shoes, Ross, BevMo, Burlington, and TJX

Cos. brands T.J. Maxx, Marshalls and HomeGoods to be some of the best prospects to fill 10,000 to

20,000 s.f. TJX Cos. is the fastest

growing company in the discount

department store segment. Ross and

Burlington will typically start at

20,000 s.f. and take as much as

40,000 s.f. ALDI and rival LIDL,

Sprouts Farmers Market, ULTA,

PetSmart, Trader Joe’s, Sally Beau-

ty, PETCO, Kirkland’s, DSW Shoes

and BevMo will be more aggressive

candidates for junior anchor posi-

tions. In power centers, ULTA leads as the

fastest growing junior anchor tenant,

with an expansion pace that’ll add

300-plus new locations during the

next five years. The beauty chain is

specifically interested in new shop-

ping centers or redevelopment prop-

erties. As a junior anchor, ULTA fa-

vors centers anchored by Marshall’s

or arts and crafts retailer Michael’s,

as well as discount department store Kohl’s. ULTA will also open in Walmart-anchored centers and did so

earlier this year to fill a 20,000 s.f. location alongside both Walmart and Sam’s Club. ULTA rivals

Sephora and Sally beauty are also growing but both typically take smaller, inline space in shopping centers.

Sephora typically takes 3,500 to 7,000 s.f., while Sally Beauty settles for even smaller 1,400 to 1,800 s.f.

locations. The demise, slowdown, and closures of a number of big-box chains – Circuit City, hhGregg, Toys ‘R’ Us

and Sears to name a few – are also encouraging pet supply chains PETCO and PetSmart, furniture chain

Kirkland’s, footwear company DSW Shoes, and BevMo to be more aggressive for space in power centers

previously anchored by a big-box brand. All of these retailers will okay the division of larger anchor space.

PETCO and PetSmart will each open about 15 stores this year. DSW Shoe – which typically fills 15,000 to

20,000 s.f. – will open four to six stores, while rival Shoe Show will likely add a few of its ENCORE-

branded stores, which take 10,000 to 15,000 s.f.

Continued on Page 2

Page 8: Retail tenants MeMbeRship · North Plainfield, NJ 07060 Retail Leasing Specialist Label Shopper 5,000 s.f. CommPros Wendell Hindley200 1401 Quail St. Director, LeasingSome& Acquisition

ReTAIL TeNANTS MeMbeRship

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